iRobot Net Falls 48.7 Percent in Q3
October 23, 2013,
BEDFORD, Mass.--Stagnant revenues and rising costs brought a 48.7 percent drop in net income for iRobot in its third quarter, to $7.8 million.
Total revenues in the quarter, which ended on Sept. 28, were $124.5 million, down 1.4 percent from last year's third quarter. In spite of a 16 percent gain in revenue from home robots, product revenue edged up by just 1.2 percent, offset by a 63.8 percent falloff in contract revenue.