iRobot shares drop more than 20% as earnings, outlook miss Street view

Shares of iRobot Corp. dropped in the extended session Wednesday after the Roomba maker’s earnings results and outlook fell short of Wall Street estimates. Shares of iRobot fell 21% to $69.36 after hours. The company reported fourth-quarter net income of $4.6 million, or 16 cents a share, compared with $13.7 million, or 49 cents a share, in the year-ago period. Revenue rose to $326.9 million from $212.5 million in the year-ago period. Analysts surveyed by FactSet had estimated 25 cents a share on revenue of $318.8 million. For the year, iRobot estimates earnings of $2.10 to $2.35 a share on revenue of $1.05 billion to $1.08 billion. Analysts expect earnings of $2.70 a share on revenue of $1.02 billion.

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