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iRobot Stock Drops After Closing Maritime Operations in North Carolina
80 layoffs occur as a result of government indecision regarding defense robot purchases
By RBR Staff


“Our defense and security business had its best performance of the year, delivering revenue of $30 million. U.S. government funding and program delays, however, continued to negatively impact our near-term expectations for this business unit. With home robots accounting for more than 80% of the company’s total revenue, iRobot’s financial performance will be driven by growth in the consumer business and less impacted by the ups and downs in the defense business.”

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