BEDFORD, Mass. (AP) _ IRobot Corp. (IRBT) on Tuesday reported first-quarter profit of $22.5 million.
On a per-share basis, the Bedford, Massachusetts-based company said it had profit of 78 cents. Earnings, adjusted for one-time gains and costs, came to 96 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.
The robotics technology company posted revenue of $237.7 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $252.3 million.
IRobot expects full-year earnings in the range of $3.15 to $3.40 per share, with revenue in the range of $1.28 billion to $1.31 billion.
IRobot shares have risen 56 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $130.57, more than doubling in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IRBT at https://www.zacks.com/ap/IRBT