This past February led to a downgrading by JP Morgan for robotics company iRobot Corporation (NASDAQ:IRBT). The company, known for building and designing home care robotics as well as robotics for industrial and government agencies, has been experiencing high volatility this past year. IRBT has a one year low of $22.11 and a one year high of $38.33 with a market cap of $605.55 million.
First quarter financial results reported IRBT revenue was $97.8 million, down 8% from first quarter results a year ago at $106.3 million. Net income was reported to be down 91% at $0.7 million from $7.5 million as of first quarter 2011.
With the United States economy on the rise, potential returns can be made for iRobot through focusing on their home robotics sector. Chairman and CEO of iRobot, Colin Angle, states in 4-Traders, "the improvement in domestic sales, expanded distribution of new products and further penetration into long-term international markets will drive future growth in the Home Robot business."
Additionally, as employment throughout the nation increases, consumers may be on the lookout for alternative ways to increasing their time efficiency.
Business Section: Investing Ideas
Although this past quarter reports showed negatively on the company's growth, is there hope for iRobot to project higher future growth as the economy steadily rebuilds? Use Kapitall tools to analyze consumer and government robotics companies. Do you think iRobot is set for a future comeback?