iRobot (NASDAQ: IRBT) cleaned up in the final quarter of 2016, delivering a frame that comfortably exceeded analyst projections. For the fourth quarter, the Roomba maker's revenue inched up by 3% year over year to $212.5 million -- an all-time Q4 high for the company. Net profit went in the other direction, however, falling by 29% to $13.7 million ($0.49 per diluted share).
In spite of that bottom-line slide, both figures were well higher than analysts' average estimates. These anticipated revenue of just under $206 million, and a per-share net profit of $0.41.
This is the latest in a string of quarterly earnings beats by iRobot. In the third quarter, it reported EPS of $0.70; on average, analysts were modeling EPS of $0.43.
For the full year, iRobot's revenue was slightly below $661 million, 7% higher than the 2015 result. Net profit fell by 5% to $41.9 million ($1.48 per share).
The company also proffered guidance for the current year. It believes it will book revenue of $770 million to $785 million for 2017, which would be 16% to 19% higher than the 2016 result. It anticipates that its EPS will be in the $1.35 to $1.65 range.
In the press release unveiling the results, iRobot CEO Colin Angle said that the top-line growth will result from "deeper household penetration of Roomba in the U.S., accelerating growth in overseas markets, [and] capitalizing on our first mover advantage in the wet floor care category, particularly in Asia."
The company has been active in the latter segment since 2005; currently, its key product in the category is the Braava floor mopping robot.
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Eric Volkman has no position in any stocks mentioned.