BEDFORD, Mass. (AP) _ IRobot Corp. (IRBT) on Wednesday reported fourth-quarter net income of $20 million.

The Bedford, Massachusetts-based company said it had net income of 70 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.

The robotics technology company posted revenue of $426.8 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $414.3 million.

For the year, the company reported profit of $85.3 million, or $2.97 per share. Revenue was reported as $1.21 billion.

IRobot expects full-year earnings in the range of $1.70 to $2.30 per share, with revenue in the range of $1.32 billion to $1.35 billion.

IRobot shares have dropped 3% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $49.11, a fall of 45% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IRBT at https://www.zacks.com/ap/IRBT

Automated Insights, source Associated Press News