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iRobot: Perfect Recipe for a Short Squeeze

  • April 22, 2009

Sales were buoyed by international Roomba sales, which were up an astounding 69% when compared to the first quarter of 2008. Government and industrial product revenue dropped year-over-year but was offset by home product revenue and government contract revenue. The company posted an adjusted EBITA loss of $0.3 million and operating cash flow of $14.3 million.

The company ended the quarter with $54.74 million in cash (an almost $14 million increase in cash quarter-over-quarter) and no debt. This represents nearly $2.20/share in cash. The stock closed the regular trading session at $8.02 and shot up more than 12% after hours to $9.

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