BEDFORD, Mass. (AP) _ IRobot Corp. (IRBT) on Monday reported first-quarter net income of $7.4 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Bedford, Massachusetts-based company said it had net income of 26 cents. Earnings, adjusted for one-time gains and costs, were 41 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.
The robotics technology company posted revenue of $303.3 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $261.6 million.
IRobot expects full-year earnings in the range of $3 to $3.25 per share, with revenue in the range of $1.67 billion to $1.71 billion.
IRobot shares have climbed 30% since the beginning of the year. In the final minutes of trading on Monday, shares hit $103.99, a climb of 75% 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
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