iRobot shares jump on raised earnings forecast

Northern, WI 03/13/2013 (avauncer) - iRobot Corporation (NASDAQ:IRBT) has raised its earnings forecast and expects to earn revenue of $102 to $104 million, earnings per share of $0.16 to $0.20.

The Company raised its expectations based on strong results in both its home robot and defense & security business units.

For the first quarter of 2013, the robotic technology company estimated its earnings to be 7 cents per share on revenue in a range of $98-$102 million.

However, FactSet analysts estimate iRobot’s earnings to be 2 cents per share on revenue of $100.8 million.

Recently, the Company announced the appointment of Alison Dean as its new chief financial officer. Dean succeeds John Leahy, who is leaving the robotic firm after four years to join a private company.

Dean, with 25 years of experience in finance, joined iRobot in 2005. At iRobot, she has been responsible for investor relations, financial planning, accounting, and SEC reporting.

Shares of iRobot Corporation (NASDAQ:IRBT) were up by 1.30% and currently trading at $24.24