iRobot shares plummet 33%; GM of government & industrial robots division to leave
Fourth quarter net income jumped 52 percent compared to the year before on strong demand for robots built for the consumer market. But CEO Colin Angle warned that robot sales to government agencies might slow in 2012.
iRobot expects revenue in 2012 to be between $465 million and $485 million while net income will be between 75 cents and 95 cents per share – well below expectations of $1.44 per share and revenue of $532.7 million that analysts were predicting.
Most UAV and robot manufacturers are suffering US DoD cuts but much of that is being offset by actively marketing foreign military and government purchases as drones and robotic warriors spread around the world.
UPDATE 2/17: Robert Moses, the general manager of the government and industrial robots division of iRobot will leave and an interim manager has been chosen.
There’s also the problem of repatriating the thousands of robots returning from Iraq and Afghanistan. The first to figure out a marketable civilian use wins!