IRobot Reports Lower 3Q Profit But Beats Estimates
Stock quotes in this article:
IRBT
BEDFORD, Mass. (AP) Robot maker iRobot Corp. said Wednesday its third-quarter profit declined as revenue fell, but the results beat Wall Street's expectations.
For the three months ended Sept. 26, the company earned $2.6 million, or 10 cents per share, down 33 percent from $3.9 million, or 15 cents per share, in the same period a year earlier. Revenue fell 15 percent to $78.6 million from $92.4 million. Analysts, on average, were expecting a profit of 2 cents per share on sales of $77.8 million, according to a poll by Thomson Reuters. The company forecast fourth-quarter earnings of 9 cents to 13 cents per share on sales of $98 million to $108 million. Analysts expect a profit of 16 cents per share on sales of $98.3 million. Shares closed unchanged at $11.69.- Loading Comments...
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