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iRobot shares drop regardless of raised 12 months income view – ZDNet

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Robotic vacuum cleaner pioneer iRobot this afternoon reported Q1 income and revenue that topped Wall Avenue’s outlook, and raised its outlook for income for the complete 12 months.

The report despatched iRobot shares down 8% in late buying and selling

Because it had in prior quarters, iRobot provided an estimate for a way a lot of its gross sales had been through e-commerce channels, together with its personal Site and app. That proportion was 56% final quarter, down from 60% to 70% in prior quarters, however nonetheless up 90%, 12 months over 12 months.

CEO and chairman Colin Angle remarked that the corporate was “off to an excellent begin to 2021,” including that “shopper demand for our merchandise has remained resilient and our price proposition to offer prospects with a extremely differentiated, customized cleansing expertise has continued to resonate world wide.”

Angle mentioned the corporate was making progress on what it calls its iRobot Genius platform, and had expanded its “linked buyer base,” whereas introducing new complementary merchandise new companies.

Income within the three months resulted in March rose 58% 12 months over 12 months, to $303.26 million, yielding a internet revenue of 41 cents a share.

Analysts had been modeling $268 million and 9 cents per share.

For the complete 12 months, the corporate raised its outlook for income to a spread of $1.67 billion to $1.71 billion, up from a previous forecast for $1.635 billion to $1.675 billion provided again in February. The corporate maintains its outlook for EPS of $3 to $3.25.

That compares to consensus of $1.65 billion and $3.24 per share.



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