UPDATE 1-IRobot Q2 beats market, ups FY view; shares jump
* Cites strong performance in consumer, military segments
* Raises full-year outlook
* Shares jump 15 pct after the bell
July 28 (Reuters) - Robot-maker IRobot Corp (IRBT.O) raised its full-year outlook above Wall Street expectations and posted quarterly results that sailed past estimates, aided by strong performance at both its segments, sending its shares up 15 percent after the bell.
The company, which makes consumer-friendly robots that clean carpets and flooring and military robots, said it expects to earn 51 cents to 54 cents a share in 2010, on revenue of $385 million to $390 million.
Analysts on average were looking for a profit of 44 cents on revenue of $380.6 million, according to Thomson Reuters I/B/E/S.
For the second quarter ended July 3, the company reported a net income of $5.3 million, or 20 cents a share, compared with a loss of $2.6 million, or 10 cents, a year ago.
Analysts were expecting the company, which make military products that specialize in disarming bombs and helping soldiers with search and surveillance tasks, to earn 8 cents a share.
Revenue for the quarter surged 60 percent to $97.8 million, also surpassing analysts' expectations of $92.2 million.
The company's growth has been fuelled by demand for its next-generation military robots and international sales of consumer products, which include the round-shaped, self-guiding Roomba cleaner.
Shares of the company were up 15 percent at $22.25 in after-market trade. They closed at $19.41 Wednesday on Nasdaq. (Reporting by Abhishek Takle in Bangalore; Editing by Unnikrishnan Nair)
- White House reverses, says Obama met uncle and lived with him during law school
- With song and sadness, South Africans mourn Mandela |
- RPT-UPDATE 1-Ford leans on global Mustang to burnish overseas image
- UPDATE 1-Study casts doubt on whether extra vitamin D prevents disease
- U.S. television, Twitter, alive with new version of 'Sound of Music'