Shares of iRobot (NASDAQ: IRBT) have fallen today, down by 4% as of 12:30 p.m. EDT, after the company reported first-quarter earnings. The COVID-19 pandemic has impacted both sales and its manufacturing supply chain activities.
Revenue in the first quarter declined 19% to $192.5 million, and iRobot said the primary culprit for the shortfall was an inability to meet demand due to supply chain challenges. That led to an adjusted operating loss of $14.4 million and an adjusted net loss of $0.32 per share. iRobot had warned last month that the coronavirus outbreak had disrupted sales and manufacturing operations.
Image source: iRobot.
Source Fool.com