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Quarterly adjusted earnings came in at 66 cents per share, outpacing the Zacks Consensus Estimate of 50 cents. Also, the bottom line came in higher than the year-ago tally of 52 cents per share.
Revenues in the quarter came in at $217.1 million, beating the Zacks Consensus Estimate of $216 million by a whisker. The top line also improved 28.8% year over year, on the back of stronger sales secured from all end-markets.
Costs/Margins
Cost of sales in the reported quarter was $101.3 million, up 24.8% year over year. Gross margin was 53.3%, up 150 basis points (bps) year over year.
Total operating expenses in the reported quarter was $90.4 million, up 37.6% year over year. Operating margin was 11.7%, down 110 bps year over year.
Balance Sheet/Cash Flow
Exiting the first quarter, iRobot had cash and cash equivalents of $144.5 million, up from $128.6 million recorded as of Dec 30, 2017. Long-term liabilities came in at $13 million, down from $13.9 million reported at the end of 2017.
In the first three months of 2018, iRobot generated $29.8 million cash from operating activities, up from $26.8 million recorded in the year-ago period. Capital expenditure was $8.7 million compared to $3 million witnessed at the end of first-quarter 2017.
Outlook
iRobot believes higher sales of its state-of-the-art home-robotic products and ongoing marketing programs will aid in strengthening its competency in the near future. Based on the existing market conditions, this Zacks Rank #3 (Hold) company reiterated its revenue guidance for 2018 at $1.05-$1.08 billion, estimating year-over-year growth of 19-22%.
However, the company raised its earnings view for full-year 2018 to the $2.15-$2.40 per share range, from the prior outlook of $2.10-$2.35 per share.
Axon Enterprise, Inc sports a Zacks Rank of 1 (Strong Buy). The company pulled off an average positive earnings surprise of 12.17% over the last four quarters. You can see the complete list of today’s Zacks #1 Rank stocks here.
Alamo Group, Inc. (ALG - Free Report) also flaunts a Zacks Rank #1. The company delivered an outstanding average positive earnings surprise of 188.33%, over the preceding four quarters.
Altra Industrial Motion Corp. holds a Zacks Rank of 2 (Buy). The company came up with an average positive earnings surprise of 11.13% during the same time frame.
Investor Alert: Breakthroughs Pending
A medical advance is now at the flashpoint between theory and realization. Billions of dollars in research have poured into it. Companies are already generating substantial revenue, and even more wondrous products are in the pipeline.
Cures for a variety of deadly diseases are in sight, and so are big potential profits for early investors. Zacks names 5 stocks to buy now.
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iRobot (IRBT) Beats on Q1 Earnings, Raises 2018 EPS View
iRobot Corporation (IRBT - Free Report) reported better-than-expected results for first-quarter 2018.
Earnings/Revenues
Quarterly adjusted earnings came in at 66 cents per share, outpacing the Zacks Consensus Estimate of 50 cents. Also, the bottom line came in higher than the year-ago tally of 52 cents per share.
Revenues in the quarter came in at $217.1 million, beating the Zacks Consensus Estimate of $216 million by a whisker. The top line also improved 28.8% year over year, on the back of stronger sales secured from all end-markets.
Costs/Margins
Cost of sales in the reported quarter was $101.3 million, up 24.8% year over year. Gross margin was 53.3%, up 150 basis points (bps) year over year.
Total operating expenses in the reported quarter was $90.4 million, up 37.6% year over year. Operating margin was 11.7%, down 110 bps year over year.
Balance Sheet/Cash Flow
Exiting the first quarter, iRobot had cash and cash equivalents of $144.5 million, up from $128.6 million recorded as of Dec 30, 2017. Long-term liabilities came in at $13 million, down from $13.9 million reported at the end of 2017.
In the first three months of 2018, iRobot generated $29.8 million cash from operating activities, up from $26.8 million recorded in the year-ago period. Capital expenditure was $8.7 million compared to $3 million witnessed at the end of first-quarter 2017.
Outlook
iRobot believes higher sales of its state-of-the-art home-robotic products and ongoing marketing programs will aid in strengthening its competency in the near future. Based on the existing market conditions, this Zacks Rank #3 (Hold) company reiterated its revenue guidance for 2018 at $1.05-$1.08 billion, estimating year-over-year growth of 19-22%.
However, the company raised its earnings view for full-year 2018 to the $2.15-$2.40 per share range, from the prior outlook of $2.10-$2.35 per share.
Stocks to Consider
Some better-ranked stocks in the Zacks Industrial Products sector are listed below:
Axon Enterprise, Inc sports a Zacks Rank of 1 (Strong Buy). The company pulled off an average positive earnings surprise of 12.17% over the last four quarters. You can see the complete list of today’s Zacks #1 Rank stocks here.
Alamo Group, Inc. (ALG - Free Report) also flaunts a Zacks Rank #1. The company delivered an outstanding average positive earnings surprise of 188.33%, over the preceding four quarters.
Altra Industrial Motion Corp. holds a Zacks Rank of 2 (Buy). The company came up with an average positive earnings surprise of 11.13% during the same time frame.
Investor Alert: Breakthroughs Pending
A medical advance is now at the flashpoint between theory and realization. Billions of dollars in research have poured into it. Companies are already generating substantial revenue, and even more wondrous products are in the pipeline.
Cures for a variety of deadly diseases are in sight, and so are big potential profits for early investors. Zacks names 5 stocks to buy now.
Click here to see them >>