The Associated Press April 28, 2010, 7:20PM ET

IRobot sales, profit up in 1Q

IRobot Corp. said Wednesday that sales of its robotic products have soared, boosting its first-quarter profit past expectations.

The company reported that it earned $6.2 million, or 24 cents per share, for the quarter. That's up from a loss of $1.8 million, or 7 cents per share, in the same quarter last year.

Revenue grew 67 percent to $95 million.

Analysts polled by Thomson Reuters on average expected the company to earn 4 cents per share on revenue of $83.8 million.

The company said its international home robot revenue more than doubled to $37 million during the quarter, and its government and industrial robot revenue rose 76 percent.

IRobot, based in Bedford, Mass., said it anticipates earning between 6 cents to 8 cents per share for the second quarter and 35 cent to 40 cents per share for the full year. Analysts expected the company to post a loss of 4 cents per share for the second quarter and a profit of 23 cents per share for the year.

IRobot shares fell 21 cents to close at $15.22. But shares rose $3.28, more than 21 percent, to $18.30 in after-hours trading.


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