Disappointing guidance is overshadowing a Q2 beat for iRobot (IRBT -14.2%), leading shares to...


Disappointing guidance is overshadowing a Q2 beat for iRobot (IRBT -14.2%), leading shares to tumble following a 106% YTD gain. With a higher tax rate on tap, the robot maker is guiding for Q3 revenue of $124M-$128M and EPS of $0.20-$0.25 vs. a consensus of $126.5M and $0.27. 2013 guidance (boosted by a $0.07/share Q2 tax benefit) is for revenue of $485M-$495M and EPS of $0.88-$1 vs. a consensus of $491.2M and $0.94. Home robot sales (89% of revenue) +20% Y/Y in Q2, better than Q1's +14%. Domestic revenue +26%, international +18%. Opex +27% Y/Y to $53.7M. Strong early interest is reported for the company's remote presence robots, but meaningful revenue isn't expected in 2013. (transcript)

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