Benchmark maintains a 'Buy' on iRobot Corporation (NASDAQ: IRBT) price target lowered to $32.00.
Benchmark analyst says, "FY12 guidance below expectations on Government weakness...DoD remains committed to SUGV; Outlook reflects political/budget uncertainty. We think iRobot has the potential to do better in the coming year as its Government bookings improve after the passage of the GFY12 budget, which included $61 million for SUGV procurement and development...We reduce our FY12 sales and EPS to $475 million and $0.90 to reflect guidance."
"We maintain our rating and view better than expected Home robot sales, new Government bookings, and clarity around healthcare/commercial initiatives as catalysts for the coming year. IRBT had $6.54 in net cash per share at the end of the quarter."
Yes, there is a robotic service restaurant in China, no tip, no complain, that boasted business very well. Can IRBT make a few thousand dollar robotic waiter or waitress? If yes, there is a great market.
you don't need robot wait staff in China because there is no tipping in China. only a select few of the best restaurants add a 10% service charge. but anyway i bought at 25 and change and expect much more than that back. a pretty good bounce back should build up in the coming week or so. GLTA