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IRIDEX Reports First Quarter 2008 Financial Results
Date:5/13/2008

stricted cash - 3,800

Accounts receivable, net 8,440 8,876

Inventories, net 16,013 15,967

Prepaids and other current assets 1,095 1,051

Total current assets 29,561 35,503

Property and equipment, net 1,481 1,621

Goodwill 3,239 3,239

Other intangible assets, net 5,358 5,944

Other long term assets 282 347

Total assets $39,921 $46,654

Liabilities and Stockholders' Equity

Current Liabilities:

Accounts payable $4,404 $2,887

Bank line of credit 5,281 4,863

Accrued compensation 1,567 2,024

Accrued expenses 6,005 7,809

Accrued warranty 1,500 1,895

Deferred revenue 3,254 3,350

Bank term loan-current portion - 5,016

Total liabilities 22,011 27,844

Commitments and contingencies (Note 10).

Stockholders' Equity:

Convertible Preferred Stock, $.01 par value:

Authorized: 2,000,000 shares;

Issued and outstanding: 500,000

shares in 2008 and 2007 5 5

Common Stock, $.01 par value:

Authorized: 30,000,000 shares;

Issued and outstanding: 8,824,301

shares in 2008 and 2007 89 89

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SOURCE IRIDEX Corporation
Copyright©2008 PR Newswire.
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