{"id":128919,"date":"2022-08-05T14:57:26","date_gmt":"2022-08-05T14:57:26","guid":{"rendered":"https:\/\/myfintale.com\/?p=128919"},"modified":"2022-08-05T14:57:26","modified_gmt":"2022-08-05T14:57:26","slug":"irobot-withdraws-guidance-posts-adj-loss-in-q2-details-cost-reduction-actions","status":"publish","type":"post","link":"https:\/\/myfintale.com\/industries\/irobot-withdraws-guidance-posts-adj-loss-in-q2-details-cost-reduction-actions\/","title":{"rendered":"IRobot Withdraws Guidance, Posts Adj. Loss In Q2; Details Cost-Reduction Actions"},"content":{"rendered":"<p> iRobot Corp. (IRBT) said the company has withdrawn its 2022 financial expectations issued in early May 2022, as well as its long-term financial targets provided in December 2021. Given the ongoing disruptions and uncertainty, iRobot is suspending its practice of providing financial guidance.<\/p>\n<p>Separately, iRobot announced it has entered into a definitive agreement to be acquired by Amazon.com, Inc. (AMZN) in a deal valued at approximately $1.7 billion, including iRobot&#8217;s net debt. <\/p>\n<p>To better align cost structure with near-term revenue, iRobot is in the process of initiating a restructuring of its operations, which is expected to deliver net savings in the range of approximately $5 million to $10 million in 2022 and approximately $30 million to $40 million in 2023. The actions are expected to result in a net reduction of approximately 140 employees, which represents 10% of the company&#8217;s workforce.  iRobot expects to record restructuring charges totaling between $5 million and $6 million over the next two quarters with the majority of the restructuring charges anticipated in the third quarter of 2022.<\/p>\n<p>iRobot&#8217;s GAAP net loss per share was $1.60 for the second quarter of 2022, compared with a GAAP net loss per share of $0.10, last year. GAAP operating loss was $63.9 million, compared with a GAAP operating loss of $3.0 million. Non-GAAP net loss per share was $0.35 for the second quarter of 2022 compared to non-GAAP net income per share of $0.27, prior year. <\/p>\n<p>Revenue for the second quarter of 2022 was $255.4 million, compared with $365.6 million, prior year.  <\/p>\n<p>For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com. <\/p>\n<p>Source: <a href=\"https:\/\/www.rttnews.com\/3303319\/irobot-withdraws-guidance-posts-adj-loss-in-q2-details-cost-reduction-actions.aspx?type=maa\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"mh-excerpt\"><p>iRobot Corp. (IRBT) said the company has withdrawn its 2022 financial expectations issued in early May 2022, as well as its long-term financial targets provided <a class=\"mh-excerpt-more\" href=\"https:\/\/myfintale.com\/industries\/irobot-withdraws-guidance-posts-adj-loss-in-q2-details-cost-reduction-actions\/\" title=\"IRobot Withdraws Guidance, Posts Adj. Loss In Q2; Details Cost-Reduction Actions\">[&#8230;]<\/a><\/p>\n<\/div>","protected":false},"author":3,"featured_media":128918,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>IRobot Withdraws Guidance, Posts Adj. Loss In Q2; Details Cost-Reduction Actions - my finance tale<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/myfintale.com\/industries\/irobot-withdraws-guidance-posts-adj-loss-in-q2-details-cost-reduction-actions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IRobot Withdraws Guidance, Posts Adj. 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