UPDATE 1-IRobot expects pre-tax loss in Q3
(Recasts, adds Reuters Estimates, details)
Oct 10 (Reuters) - Robotics company iRobot Corp (IRBT.O) warned of a third quarter pre-tax loss, citing production delays for its vacuum cleaning robots and litigation expenses.
In a statement, the company said it expects a pre-tax loss of $1 million to $1.5 million for the quarter on revenue of between $63 million and $64 million.
For the third quarter, analysts were expecting earnings of 19 cents a share, before special items, on revenue of $67.48 million, according to Reuters Estimates.
Shares of the company, which sells floor cleaners as well as devices that defuse bombs cleaners, were down about 7.15 percent at $18.32 in early electronic trade after closing at $19.73 on the Nasdaq.
The company said slower-than-expected production ramp up by a contract manufacturer would push revenue from delayed shipments into the fourth quarter.
The company, however, stood by its 2007 revenue outlook of $233 million to $243 million and pre-tax income of $3 million to $5 million.
For 2007, analysts on average expect earnings of 12 cents a share, excluding any exceptional items, on revenue of $239.6 million.
In August, the company had introduced a new line of vacuums in hopes of generating cash to invest in a wider range of products. (Reporting by Mehul Shah and Savio D'Souza in Bangalore)
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