iRobot Corporation (NASDAQ:IRBT) Completes April on a Strong Note - Skyrockets On Stellar Q1 Results.


iRobot Corporation (NASDAQ:IRBT) is closing the week on a strong note, having reached a new 52-week high following a positive earnings report on April 25th. The developer of home robotics reported a strong quarter that continues to reaffirm solid growth and momentum in all areas of operations. 

iRobot Stellar Q1 Earnings 

For the first three months of the year, iRobot reports its revenue came in at $168.5 million, up from $130.8 million posted the same quarter last year. Net income, on the other hand, stood at $16.4 million up from $3.9 million for the first quarter of 2016. Earnings per share as a result of robust growth in net income came in at $0.58 a share up from $0.13 per share generated in the first quarter of 2016.

Looking ahead, iRobot estimates revenues of between $780 million and $790 million, up from the previous guidance of between $770 million and $785 million. 

“Our first quarter results were outstanding. Building off the strong momentum we experienced during the year-end holidays, iRobot delivered first quarter 2017 consumer revenue growth of 32% due to growth across all regions,” said Colin Angle the Chief Executive Officer. 

While the impressive numbers remain the talk of the town, it appears the Bedford-based company is reaping the rewards of its new corporate strategy. By spinning the military robotics division early last year, the Company has been able to pay more attention on areas of immense growth led by the home-cleaning robots division.


iRobot Smart Home Push 

iRobot Corporation (NASDAQ:IRBT)’s long-term plan is to expand into the smart home market where opportunities for growth are immense. As part of the smart home push, the company has already confirmed that Roomba 900 owners will soon be able to activate their vacuums using Amazon.com, Inc's (NASDAQ:AMZN) smart assistant Alexa

Paying more attention to the core business, which continues to drive investors’ enthusiasm, remains the main strategy as the Company moves to diversify its areas of operations. 

iRobot Corporation (NASDAQ:IRBT) stock was up by $10.88 in Wednesday trading session consequently closing the day at highs of $80.02 a share. 



About iRobot Corporation

iRobot Corporation is a consumer robot company, which is engaged in designing and building robots. The Company's portfolio of solutions features various technologies for the connected home and various concepts in mapping, navigation, mobility and artificial intelligence. The Company sells various products that are designed for use at home. Its consumer products focus on both indoor and outdoor cleaning applications. The Company offers multiple Roomba floor vacuuming robots. Roomba's design allows it to clean under kick boards, beds and other furniture. It offers the Braava family of automatic floor mopping robots designed for hard surface floors. The Roomba 600 series robots offer a three-stage cleaning system. The iRobot HOME Application helps users to choose cleaning options for their home. Its Mirra Pool Cleaning Robot is used to clean residential pools. The Company's trademarks include Scooba, ViPR, NorthStar, Create, iAdapt, Aware, Home Base, Looj, Braava, vSLAM and Virtual Wall.
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