iRobot: Diversification paying off

iRobot, a company that makes robots for military, industrial and home cleaning, is hitting its stride and diversifying its arsenal of products.

The company on Tuesday reported first quarter earnings of $7.5 million, or 27 cents a share, on revenue of $106.3 million. Those results handily topped Wall Street estimates. Analysts had expected earnings of 23 cents a share on $104.7 million.

For the second quarter and 2011, iRobot's outlook was roughly in line with analyst projections. The company expects to report earnings of 90 cents a share to $1 a share on revenue of $450 million to $465 million.

Also see: Environmentally-friendly robots (photos)

That's not bad for a company best known for the Roomba.

Simply put, iRobot's products have real business uses.

  • In March, iRobot's Packbot and Warrior robots were deployed to inspect Japan's Fukushima Daiichi nuclear power plant.
  • The company won deal with the Navy for its PackBot robot valued at $230 million. The PackBot is used for bomb disposal and dangerous missions in both Iraq and Afghanistan.
  • iRobot launched prototypes of its FirstLook unmanned ground vehicle.

This post was originally published on Smartplanet.com

Newsletters

You have been successfully signed up. To sign up for more newsletters or to manage your account, visit the Newsletter Subscription Center.
See All
See All