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Battered iRobot stock takes another hit

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24 October 2012



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… Although iRobot reported that its 3rd quarter profits rose 8% and the company saw revenue growth within its consumer products, the stocks dropped 19% as it warned that it’s revenue outlook had deteriorated 5% further than previously reported.
… Also announced was the closing of the Durham, NC facility – its maritime operation where iRobot produced its Seaglider robot – a military research project – and the layoff of all its 80 employees at that facility.
… iRobot has been on a year-long plan to shore up its military products and research group, grow its consumer products (which included the acquisition of competitor Evolution Robotics) and diversify into new B2B (business-to-business) markets (eg, the product launch with partner InTouch Health), and the use of their AVA platform robot for other vertical markets.
… iRobot suffered a 33% drop in its stock in February and then another 6% in late April. iRobot stock is down 39% year-to-date at its current $18.32 per share price.




Frank Tobe is the owner and publisher of The Robot Report, and is also a panel member for Robohub's Robotics by Invitation series.
Frank Tobe is the owner and publisher of The Robot Report, and is also a panel member for Robohub's Robotics by Invitation series.





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