(IRBT) - iRobot Corp - exceeded earnings estimates by an average of almost 200% over the past two quarters

The company has exceeded earnings estimates by an average of almost 200% over the past two quarters. Four out of six analysts covering the stock have raised their forecasts for this year. Over the past 90 days, this year's estimates have more than doubled, climbing eight cents to 15 cents per share. Earnings are expected to rise 119% to 33 cents per share next year. Full Analysis iRobot Corporation (IRBT) engages in the design, development, and sale of robots for the consumer, military, government security, and law enforcement markets. It operates in two segments: Home Robots, and Government and Industrial. The Home Robots segment offers mobile robots used in the maintenance of domestic households sold primarily to retail outlets. The Government and Industrial segment offers robots used by the United States and foreign governments, primarily for reconnaissance and bomb disposal missions. Its products include iRobot PackBot Scout, a mobile robot, designed for military operations in urban terrain and other battle missions; iRobot PackBot Explorer, which is designed for performing real-time targeting and battle damage assessment in inaccessible areas; iRobot PackBot EOD, a rugged robot, designed to conduct explosive ordnance disposal, hazardous materials, search-and-surveillance, and other law enforcement tasks for bomb squads, SWAT teams, military units, and other authorities. The company reported a record third quarter in terms of earnings. IRBT said that earnings per share came in at 39 cents, blowing away the consensus estimate of nine cents. Revenues for the nine months ended Sept. 30, 2006 increased to $127.8 million, compared with $95.5 million for the same period a year ago. Gross profit for the third quarter grew to $23.0 million (41.8% of sales), compared with $20.7 million (39.5% of sales) in the third quarter of 2005. During the quarter, iRobot expanded its line of home robots. The company introduced the iRobot Dirt Dog(TM) Workshop Robot, designed for garages, basements and workbench zones, and the iRobot Roomba® for Pets. "We reported record quarterly revenues and earnings, the highest in our company's history, while continuing to invest in the growth of the company," said Colin Angle, co-founder and chief executive officer of iRobot. "Moving forward, we will continue our product line expansion and invest in cutting edge research programs, while strengthening iRobot's position as the leader in robot technology." The company has exceeded earnings estimates by an average of almost 200% over the past two quarters. Four out of six analysts covering the stock have raised their forecasts for this year. Over the past 90 days, this year's estimates have more than doubled, climbing eight cents to 15 cents per share. Earnings are expected to rise 119% to 33 cents per share next year. Content Courtesy: Zacks Investment Research #1 Ranked Stocks Highlight Archive To truly take advantage of the Zacks Rank, you need to first understand how it works. That is why we created the free special report: Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions. | Blog Home| VitalStocks Home