iRobot Posts Strong Q3 Results

The third quarter profits of iRobot Corporation have risen as the demand for robots grows. Company revenue for the third quarter rose 20% to $94.2 million. It was also helped by a one-time tax benefit in surpassing its forecast.

The strong results have been aided by international home robotics demands as well as increased government orders for robots. Shares have risen by almost 9% after profits for the third quarter were posted.

iRobot designs robots such as an autonomous home vacuum cleaner (Roomba), the Scooba that scrubs and cleans hard floors, and military and police robots, such as the PackBot. iRobot is a public corporation (NASDAQ: IRBT), based in Bedford, Massachusetts.

Analysts say that with the rising demand for robots the fourth quarter earnings will be expected to touch anywhere between $108 to $113 million. The shares were trading at $19.67 after the announcement.


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