Navigation Links
IRIDEX Announces Preliminary Unaudited Revenues for 2012 Fourth Quarter and Year End
Date:1/22/2013

MOUNTAIN VIEW, Calif., Jan. 22, 2013 /PRNewswire/ -- IRIDEX Corporation (Nasdaq: IRIX) reported preliminary revenues of approximately $9.2 million and $33.8 million for the fourth quarter and full year 2012, respectively.  Revenues in the fourth quarter exceeded the high end of the Company's prior guidance and were driven by a healthy uptick in sales of laser systems. Management had projected revenues to be between $8.4 million and $8.7 million in the 2012 fourth quarter.

CEO William M. Moore said, "We were very pleased to see strong sales growth in the fourth quarter of 2012 driven by increased demand for our laser systems, especially the IQ532 system with MicroPulse™ technology, which has been the central focus of recent marketing campaigns. While it is too early to call the strong growth in the period a trend, the sales organization has seen a positive response to a sharpened commercial message as well as the continued positive clinical data and accelerated adoption of MicroPulse technology."

The stronger than anticipated sales of laser systems also shifted the overall product mix toward capital equipment rather than higher margin consumable products. As a result, IRIDEX anticipates gross margins for the 2012 fourth quarter below the guidance range of 49% to 51%.

Moore continued, "During the fourth quarter, we also maintained excellent operating expense management and believe we will be close to guidance of $4.0 million for the period."

During the fourth quarter, the Company announced the FDA 510(k) and Conformité Européenne (CE) clearances of its TxCell™ Scanning Laser Delivery System and began shipping orders. The TxCell product saves significant time in a variety of laser photocoagulation procedures, including those using MicroPulse. The Company also entered into a license agreement with QUANTEL Medical that gives QUANTEL access to IRIDEX' MicroPulse technology, a further step towards making Fovea-friendly therapies using MicroPulse a new standard of care.

The Company also completed a tender offer in which it purchased 487,500 shares of its common stock at a purchase price of $4.10 per share during the fourth quarter. Total shares outstanding following the share buyback are estimated to be 8.5 million. Mr. Moore commented, "We were pleased with the success of the tender offer. It is one of the ways that we can achieve our goal of delivering shareholder value. We intend to continue to assess this option going forward and have $1 million in funds approved under our stock repurchase program yet to be utilized."

About IRIDEX

IRIDEX Corporation was founded in 1989 and is a worldwide leader in developing, manufacturing, and marketing innovative and versatile laser-based medical systems, delivery devices and consumable instrumentation for the ophthalmology market. We maintain a deep commitment to the success of our customers, with comprehensive technical, clinical, and service support programs. IRIDEX is dedicated to a standard of excellence, offering superior technology for superior results. IRIDEX products are sold in the United States through a direct sales force and internationally through a combination of a direct sales force and a network of approximately 70 independent distributors into over 100 countries. For further information, visit the IRIDEX website at http://www.iridex.com/.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended, relating to the Company's anticipated operating and financial results for the fiscal year 2012 fourth quarter and year end, the effectiveness and market acceptance of the TxCell Scanning Laser Delivery System and MicroPulse laser therapy,  IRIDEX' marketing and sales efforts, and the Company's future share repurchase plans. These statements are not guarantees of future performance and actual results may differ materially from those described in these forward-looking statements as a result of a number of factors. Please see a detailed description of these and other risks contained in our Annual Report on Form 10-K for the fiscal year ended December 31, 2011, and our Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, 2012, June 30, 2012, and September 29, 2012, each of which was filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date and will not be updated.

IRIDEX has not filed the Form 10-K for the 2012 fiscal year. As a result, all financial results described in this press release should be considered preliminary, and are subject to change to reflect any necessary corrections or adjustments, or changes in accounting estimates, that are identified prior to the time the Company is in a position to complete these filings.


'/>"/>
SOURCE IRIDEX Corporation
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. IRIDEX Corporation Announces Preliminary Results of its Tender Offer
2. IRIDEX Announces FDA 510(k) and CE Clearance of New Laser Delivery System for Fast, Non-invasive Treatment of Serious Retinal Diseases
3. QUANTEL Medical Signs Global Licensing Agreement with IRIDEX
4. IRIDEX Announces Tender Offer to Purchase up to 487,500 Shares of its Common Stock
5. IRIDEX Reports 2012 Third Quarter Results
6. IRIDEX Announces Third Quarter 2012 Conference Call and Release Date
7. IRIDEX Appoints Chairman William M. Moore as Interim President & CEO
8. IRIDEX Reports 2012 Second Quarter Results
9. IRIDEX Announces Second Quarter 2012 Conference Call and Release Date
10. IRIDEX Reports 2012 First Quarter Results
11. IRIDEX Introduces Non-Invasive MicroPulseâ„¢ Therapy for Glaucoma
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/26/2016)... 2016 Jazz Pharmaceuticals plc (Nasdaq: ... Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended ("HSR"), ... Inc. ("Celator"; Nasdaq: CPXX ) expired effective ... As previously announced on May 31, 2016, ... agreement under which Jazz Pharmaceuticals has commenced a tender ...
(Date:6/26/2016)... 2016 Story Highlights: ... within the health care industry is causing providers to ... , Deloitte offers a suite of solutions for health ... efficient cost optimization: labor resource analysis, revenue cycle optimization ... better outcomes and better economics ...
(Date:6/24/2016)... , June 24, 2016  Collagen Matrix, Inc., ... development and manufacturing of collagen and mineral based ... today that Bill Messer has joined ... to further leverage the growing portfolio of oral ... Bill joins the Collagen Matrix executive ...
Breaking Medicine Technology:
(Date:6/25/2016)... ... 2016 , ... Austin residents seeking Mohs surgery services, can now turn to ... Dr. Russell Peckham for medical and surgical dermatology. , Dr. Dorsey brings specialization to ... fellowship in Mohs Micrographic Surgery completed by Dr. Dorsey was under the direction of ...
(Date:6/25/2016)... ... June 25, 2016 , ... Dr. Calvin Johnson has ... he has implemented orthobiologic procedures as a method for treating his patients. The ... first doctors to perform the treatment. Orthobiologics are substances that orthopaedic surgeons use ...
(Date:6/24/2016)... ... ... June 19, 2016 is World Sickle Cell Observance Day. In an effort to ... treatments, Serenity Recovery Center of Marne, Michigan, has issued a pain management ... (SCD) is a disorder of the red blood cells, which can cause episodes of ...
(Date:6/24/2016)... , ... June 24, 2016 , ... Comfort Keepers® of ... Cancer Society and the Road To Recovery® program to drive cancer patients to and ... other adults to ensure the highest quality of life and ongoing independence. Getting ...
(Date:6/24/2016)... ... June 24, 2016 , ... Puradigm® & Innovative ... has initiated cultivation and processing operations at its production facility, and opened its ... Puradigm is the manufacturer of a complete system of proactive air and surface ...
Breaking Medicine News(10 mins):