Robot maker iRobot Corp. said Wednesday that its third-quarter profit more than doubled as revenue climbed from robots used in homes and by the government.
The company also raised its outlook for the year, and iRobot shares climbed in after-hours trading.
IRobot earned $7 million, or 27 cents per share, compared with $2.6 million, or 10 cents per share, in the third quarter of 2009.
When excluding one-time items, iRobot earned 18 cents per share.
Revenue jumped 20 percent to $94.2 million. IRobot said $54.7 million of its revenue came from sales of home robots, while $39.6 million resulted from government and industrial robot sales.
Analysts polled by Thomson Reuters, who generally exclude one-time items from their estimates, expected a profit of 7 cents per share on $94.8 million in revenue.
IRobot raised its outlook for the full year by predicting a profit of 10 cents to 12 cents per share on $108 million to $113 million in revenue for the current quarter. Analysts expect a profit of 6 cents per share on $101.2 million in revenue in the fourth quarter.
This means it now expects a full-year profit of 80 cents to 82 cents per share on $395 million to $400 million in revenue. The company had previously predicted in July that its income would total 51 cents to 54 cents on $385 million to $390 million in revenue for the year.
Shares of iRobot rose $1.75, or 9 percent, to $20.95 in after-hours trading. The stock finished regular trading down 33 cents at $19.35.
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