Sorry for the long absence. I've had a VERY busy non-blogging time.
But here's an update on all the good news since I've been somewhat out of the loop:
iRobot reported better-than-expected first quarter results, with higher margins, exploding international home robot sales especially in Europe, $14 million in cash flow, and a smaller loss. The company reaffirmed its guidance for a profit for the full year despite the down economy. The company stock price has since soared more than 20 percent.
During the Conference Call (Seeking Alpha Transcript), iRobot CEO Colin Angle was very bullish on the SUGV, and confirmed the $17 million SUGV order the company received in February (but did not issue a press release on). Angle said that the shift to Afghanistan would be a boost for the company because "the rock terrain and lack of urban transport requires a lighter more mobile robot." The only real question seems to be on the timing of the FCS SUGV order, with Angle cautioning that there is a risk given the FCS reshuffling.
Seeking Alpha suggested iRobot was ripe for a short squeeze. They noted the 2.3 million shares that are short, versus average volume below 100,000. That means it'll take a long, long time for them to cover. (If that SUGV contract comes later this year, watch out above!)
Tags: iRobot, robot