iRobot stock plunges again on Q1 earnings report… but then rebounds
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After suffering a 33% price drop early February upon announcing that future governmental sales would be down because of DoD cutbacks and delays, iRobot drops another 6.5% when actual Q1 earnings were reported.
Quarterly earnings were 2 cents per share versus $0.27 last year Q1; the company said earnings would grow to 5 to thirteen cents in the next three months.
To bolster consumer sales, iRobot just launched a new ad program for their home products with the tagline, “iRobot. Do you?”