iRobot Swings to a Loss - TheStreet

iRobot Swings to a Loss

The company guides revenue lower for the coming year.
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The holiday season didn't bring much cheer to

iRobot

(IRBT) - Get Report

, and the coming year doesn't look much brighter.

The robotic vacuum maker said Monday it swung to a loss for the fourth quarter while guiding revenue lower for 2007.

Shares of iRobot plunged after hours on the news; they were recently off more than 14% to $16.37.

iRobot lost $1.8 million, or 8 cents a share, compared with net income of $15,000, or breakeven EPS, a year earlier.

Revenue rose to $61.1 million from $46.5 million.

Analysts had expected the company to lose 8 cents a share on revenue of $62.1 million.

Gross profit margin rose to 37.3% of sales, compared with 35.3% of sales a year earlier.

For 2007, iRobot said it expects revenue growth of 19% to 24% with revenue of $225 million to $235 million. Analysts had expected revenue of $249.8 million.

Pretax net income for the year is likely to be in the range of $2 million to $4 million, iRobot said.