iRobot (IRBT) Stock Tumbles Despite Earnings Win

NEW YORK (TheStreet) -- iRobot (IRBT) stock is slipping in extended trading after the company reported its first quarter.

After the bell, shares had dropped 4.5% to $37.86.

Over the three months to March, the Roomba maker posted net income of 18 cents a share compared with 29 cents a share in the year-ago quarter. Analysts surveyed by Thomson Reuters had forecast net income of 16 cents a share.

Revenue of $114.2 was 7.5% higher year on year.

For fiscal 2014, management reaffirmed guidance of revenue between $560 million and $570 million and earnings of $1 to $1.15 a share. Analysts had anticipated $1.11 a share and $562.83 million in sales.

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TheStreet Ratings team rates IROBOT CORP as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:

"We rate IROBOT CORP (IRBT) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."

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