Robotic solutions provider for day-to-day problems, iRobot Corporation (IRBT - Analyst Report) has taken a step ahead in vacuum cleaning solutions. The company launched an advanced version of its Roomba cleaning system, namely, the iRobot Roomba 880 vacuum cleaning robot. It has currently been launched in North America, at a price of $699.99 per system.
The latest model forms a part of the existing Roomba 800 series, but with newer features. Unlike earlier models, the Roomba 880 possesses brushless, counter-rotating AeroForce Extractors. These extractors can efficiently remove up to 50% more dust compared with the previous Roomba series, due to higher suction power. Moreover, they require less maintenance.
Compared to the Roomba 600 and Roomba 700 series, the new Roomba 800 series has a larger bin to carry 60% more dirt than the older models.
The launch brings an innovation in dry floor cleaning technology and is expected to drive better results for the company. iRobot also offers other robots including the Scooba Floor Scrubbing and Braava Floor Mopping Robot series for wet floor care, along with the Looj Gutter Cleaning Robot and Mirra Pool Cleaning Robot for outdoor cleaning.
With such continuous product launches, the company is likely to achieve a greater market share in the coming quarters. For 2013, iRobot expects to generate revenues in the range of $485 million to $490 million. Earnings per share are expected within 90 cents to 95 cents.
iRobot hopes to reach mid-high teen cumulative average growth rate for revenues, high-teen adjusted earnings before interest, taxes, depreciation and amortization margin and high single-digit operating cash flow margin, by 2016.
iRobot currently carries a Zacks Rank #3 (Hold). Other stocks worth a watch in the machinery industry include Xylem Inc. (XYL - Analyst Report), Rockwell Automation Inc. (ROK - Analyst Report) and Nordson Corp. (NDSN - Snapshot Report). While Xylem carries a Zacks Rank #1 (Strong Buy), Rockwell Automation and Nordson both carry a Zacks Rank #2 (Buy).