iRobot (IRBT, $89.42 ) has blockbuster Q4 earnings, expects bright year ahead

iRobot Corp. posted record high earnings for the fourth quarter, while also beating analyst expectations.

The consumer robot maker raked in adjusted earnings of 84 cents per share in the fourth quarter, surging past the year-ago quarter’s 54 cents a share. The earnings were also way above Zacks Consensus Estimate of 51 cents a share.

Revenue in the quarter jumped +17.7% from the year-ago period to touch $384.7 million. Consensus estimate was $379 million.

For the full-year 2018,  adjusted earnings increased by a solid +60.5% from the preceding year, to $2.84 a share. Full-year revenue rose +24% to $1.09 billion – compared to $883.9 million in 2017. 

iRobot CEO Colin Angle indicated that the company could efficiently weather the impact of tariffs in the U.S., and also added that strong demand for Roomba i7 and i7+ robots bolstered holiday sales for the company. Angle mentioned the company’s market in Japan as a strong driver of international sales in the fourth quarter.

Looking ahead, the company forecasts revenue growth in the range of +17% to +20% (i.e. revenue between $1.28 billion and $1.31 billion) in 2019. It expects earnings per share to range between $3 and $3.25 for the year.