BEDFORD (AP) -- IRobot Corp.'s shares soared in after-hours trading Monday after the robotic technology company issued a much-better-than expected forecast for its first quarter.
The company expects to earn 16 to 20 cents per share on revenue of $102 million to $104 million. It had previously forecast its net income to be flat to 7 cents per share for the quarter on revenue in the range of $98 million to $102 million.
Analysts polled by FactSet were anticipating earnings of 2 cents per share on revenue of $100.8 million.
IRobot said the increase is based on strong results in both its home robot and defense and security business units.
Its shares jumped $2.09, about 9 percent, to $24.84 in after-hours trading on the news. Its stock fell 11 cents to close regular trading at $22.75.