iRobot’s stock takes another hit – stock down 12%
iRobot’s stock (IRBT:NASDAQ) has suffered once again from not meeting analyst expectations. The stock is down 12% on news that expectations for 2013 show continuing downward pressure on their Defense & Security Division although their Home Robots are doing quite well.
On a good note, expected earnings for 2013, including those from newly acquired Evolution Robotics, are expected to grow 11% over 2012. Colin Angle, CEO, said, “Our business performance over the next few years will be driven by our rapidly growing home technology business. Home Robots [Division] is expected to grow roughly 20 percent this year and comprise 90 percent of total company revenue. In addition, we have an emerging remote presence business and have stabilized our defense business.”