IRobot Q1 Results Top Estimates; Q2 Outlook Downbeat

(RTTNews) - iRobot Corp. (IRBT) reported net income for the first quarter of $5.3 million or $0.18 per share, compared to $8.4 million or $0.29 per share for the year-ago quarter.

The year-ago quarter results included an $0.08 benefit from investment tax credits.

Revenue for the first quarter rose to $114.2 million from $106.2 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.16 per share on revenue of $112.26 million for the first quarter.

Looking forward to the second quarter, the company forecasts revenue of $138 million to $145 million and earnings of $0.15 to $0.25 per share. Analysts currently expect the company to earn $0.23 per share on revenue of $143.80 million for the second quarter.

The company reaffirmed full-year 2014 financial expectations of revenue between $560 and $570 million, EPS of $1.00 to $1.15. Analysts currently expect the company to earn $1.11 per share on revenue of $562.83 million for the full year 2014.