"The results and outlook for our Home Robot business are excellent while the near-term visibility in our Defense & Security business continues to be limited."
I thought this was interesting...
"I [Colin Angle, iRobot CEO] have said in the past that one in four vacuum cleaners sold in Spain is a robot. Based on current data, that statistic is even more striking. Quarterly data through February showed that one in three vacuum cleaners sold in Spain was a robot. Beyond Spain, we see the same fast developing adoption in such diverse markets as Italy, Taiwan, Denmark, Israel and Russia. The robotic vacuum cleaner category is going mainstream and growing far faster than the overall vacuum cleaner market. The good news is that not only is the rate of adoption accelerating but our Roomba remains the market leader."
Reading the following prompted me to say... D'oh!
"We [iRobot] continue to experience funding delays that will impact Q2 revenue and we have reflected that impact in our expectations. We expect orders and funding to start flowing, but full-year results will be lower than we anticipated last quarter."
IRBT closed yesterday (02012.04.24) at $24.60. 52-week range: $22.46 - $38.33.
................ I'm waiting to press the "Publish" button for this posting until after the market opens today (02012.04.25) ............
IRBT opened at $23.87, down almost 3%, on 02012.04.25.
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