IRobot Corp. Cuts Earnings Guidance - Quick Facts

(RTTNews) - iRobot Corp. (IRBT) said, given results for the year-to-date and the anticipated impact of higher tariffs on domestic segment growth, the company updated its 2019 full-year expectations.

"Although we achieved our U.S. revenue target in the second quarter, we believe that the direct and indirect impacts of the ongoing U.S.-China trade war and the recently implemented 25% tariffs are likely to constrain U.S. market segment growth in the second half of the year below our expectations at the start of 2019," said Colin Angle, CEO of iRobot.

For the fiscal year ending December 28, 2019, the company now expects earnings per share in a range of $2.40 - $3.15, down from previous guidance range of $3.15 - $3.40. Revenue is now projected to be in a range of $1.2 - $1.25 billion, revised from prior guidance range of $1.28 - $1.31 billion. Analysts polled by Thomson Reuters expect the company to report profit per share of $3.11 on revenue of $1.29 billion. Analysts' estimates typically exclude special items.

For the second-quarter, earnings per share were $0.25, compared to $0.37, prior year. On average, 9 analysts expected the company to report profit per share of $0.03 for the quarter.

Second-quarter revenue was $260.2 million, compared to $226.3 million, a year ago. Analysts expected revenue of $267.96 million, for the quarter.

Shares of iRobot Corp. were down more than 17% after hours.