IRBT down nearly 3pts , not surprised here
IRBT prelim $0.00 vs $0.03 Reuters consensus; revs $46.5 mln vs $47.18 mln Reuters consensus
Co will invest heavily in R&D, product awareness, and brand... 2006 focus is on sustainable revenue growth; more committed to revenue growth in near term than to maximization of bottom line; see all markets as underpenetrated... home robot: long term vision is to sell multiple robots into the homeplace; believe there is an untapped and large addressable market... believe the U.S. Army is on the verge of using more unmanned robots on the rise; notes it has already won a Tier-1 contract already with the military, says 30+ year business opportunity... co notes seasonality in home robot business; says majority is generated in holiday season; says that 75% of revenues occur in Q3 and Q4... operating margins in the next couple of years will be affected by aggressive growth... says gross margins in the high 30s is achievable for long term growth models... believe they have the financial resources they need to capitalize on opportunity ahead of them... Guidance: co notes that guidance is challenging and that investors should consider this; guiding in 6 month windows... expect 1H06 revenues to increase 55-70% compared to 1H05... for Y06 expect revenues will increase 25-25% compared to Y05... notes seasonality does not effect military business; purely consumer business... says no channel represents more than 10% of companies revenue... stock is trading at $30.35, -2.87 in after hours.
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