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New Products Drive iRobot Q3 Sales Growth

Driven by the launch of two new products, iRobot reported strong sales growth for its fiscal year third quarter.

Revenue for the three month period ended September 29 was $264.5 million, up from revenue of $205.4 million for the third quarter of 2017. Quarterly operating income was $37.3 million, compared with $23.9 million in the third quarter of 2017. Quarterly earnings per share were $1.12 for the third quarter of 2018, compared with $0.76 in the third quarter of 2017.

“In the United States, we saw significant year-over-year growth of 45%, driven by a very successful launch of two new products, the Roomba i7/i7+ and the Roomba e5,” said Colin Angle, chairman and chief executive officer of iRobot.

Following the strong third quarter, the company is raising its 2018 full-year financial guidance. The company now anticipates full-year 2018 revenue of $1.08 to $1.09 billion, which would be year-over-year growth of 22% to 23%, operating income of $92 to $96 million, and EPS of $2.55 to $2.75. “Our full-year 2018 operating income expectation includes an anticipated negative tariff impact, of approximately $5 million in the fourth quarter, which was not previously included in our financial expectations,” Angle said.