Although iRobot Corp. second-quarter earnings slipped, the company managed to beat a Wall Street estimate as it continues to await the conclusion of its merger with Amazon.
A Zacks Investment Research average estimate for adjusted diluted earnings per share was a loss of $1.69.
Revenue was $236.6 million versus $255.4 million in the year-previous quarter. Operating loss was $71.1 million versus an operating loss of $63.9 million in the year-before period while adjusted operating loss was $50.5 million compared to an adjusted operating loss of $53.3 million, iRobot noted.
On a global basis, revenue grew 9% in Japan, declined 9% in EMEA and declined 6% in the United States versus the year-before period.
On July 24, iRobot entered into a $200 million financing facility to fund ongoing operations. At the same time, iRobot and Amazon amended the existing terms of their merger agreement to reflect a reduction in the price per share. The companies expect the change in price per share to largely offset an increase in iRobot’s net debt under the new financing facility.
