iRobot on Wednesday cut its third-quarter earnings forecast on expectations of production delays in its popular Roomba robotic vacuum.
The company lowered revenue guidance for the third quarter to between $63 million and $64 million. The robot maker said that revenue from delayed shipments will be recorded in the fourth quarter and that full-year earnings will be unchanged.
“This shift from the third to fourth quarters, coupled with unanticipated litigation expenses associated with our legal actions against a former employee and his company, will result in a pre-tax loss of $1 million to $1.5 million for the third quarter," iRobot CEO Colin Angle said in a statement.
Shares of the robot maker were down $1.64, or 8 percent, at $18.09 in closing trading.
iRobot has sold more than 2 million of its Roomba vacuum cleaners.
iRobot last month unleashed two new machines for the home. The robot maker unveiled the ConnectR, which features Wi-Fi, a video camera, a speaker, a microphone, and Internet phone capabilities. The ConnectR is intended for calling family members or monitoring pets, with the visibility of a web cam. The robot maker also unveiled the Looj, a rooftop gutter cleaner.
The robot maker has competition in the military market from the likes of Foster-Miller, Exponent, and Robotic FX.
iRobot is scheduled to report earnings after the close of markets on October 24.