The Bedford, Mass.-based company reported quarterly earnings of 28 cents a share, in line with analysts' expectations and flat with the year-ago period. The robotic technology company reported revenue of $139.8 million, below the $142.5 million analysts polled by Thomson Reuters were expecting but an increase over $130.4 million for the same period last year. The company's revenue guidance for the coming quarter was also below analysts' expectations.
Shares closed Wednesday down 7.5% at $35.90.
The company's robotic vacuum cleaner, Roomba, has been a popular product internationally this quarter, driving the company's international revenue growth of 19% for its Home Robot operations. Domestic growth was 7%, fueling a 15% year-over-year increase in revenue for its Home Robot business.
"What we've seen internationally is a strong reversal from last year in Europe. We're seeing growth in Europe primarily driven by our Roomba category, our robot vacuum cleaners. With China, our expansion into China, actually leading and driving much of that growth-- driven by Roomba and the launch of our [Roomba] 800 series robot," said iRobot CEO Colin Angle in a phone interview with TheStreet.
The company reported a decrease in revenue for its Defense and Security business at $45 million, $5 million lower than the company's original expectation for the year. iRobot said it had a backlog totaling $21 million in its Defense and Security unit.