By Hassan
Malik @hmalik21
The next
big thing for investors may be lying in their home closet and they don’t even know
it. A vacuum. But not just any vacuum. The automated Roomba vacuum designed by
robotics company iRobot. Most would think of an automated vacuum as just
another neat idea. But it is far more than that. Today, it has the potential to
make a considerable amount of money.
Shares of iRobot (NASDAQ: IRBT) have attracted
investor interest of late. Currently, the stock trades at $35.11. The company
recently announced its Q3 financial results, with its reported earnings of
$0.48 a share beating analyst estimates of $0.33. Its revenue for the quarter
also rose to $143.5 million from $124.5 million during the same period last
year. Net income for Q3 of 2014 was $14.6 million compared with $7.8 million in
Q3 of 2013.
Furthermore,
the Massachusetts-based company reported domestic growth of about 31% and
international revenue growth at 13%, fueling a 19% year-over-year increase in
Home Robot revenue. iRobot’s broad product line is also appealing to investors.
It is not a company solely producing automated vacuums. Rather, it also designs
robotic products for military and defense needs. Defense & Security revenue
was up 6%, and its backlog was $25 million at the end of Q3 2014, providing the
corporation with increased confidence in delivering their full-year Defense
& Security expectations. The company reported that it has already sold 8 of
its highly intuitive AVA 500 robots to AT&T and is conducting trials for
future robot projects in compliance with pharmaceutical and financial
companies.
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