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IRIDEX Reports 2011 Fourth Quarter and Year-End Results
Date:3/1/2012

MOUNTAIN VIEW, Calif., March 1, 2012 /PRNewswire/ -- IRIDEX Corporation (Nasdaq: IRIX) today reported financial results for the fourth quarter ended December 31, 2011. Due to the sale of the Company's aesthetics laser business in February 2012, the Company will be reporting its results for its continuing ophthalmology business.  

  • Revenues from ophthalmology were $8.6 million in the fourth quarter of 2011, up sequentially from $8.3 million in the third quarter of 2011, and down from $9.0 million in the prior year period. Total sales from continuing operations for the year increased to $33.2 million, up from $32.3 million.
  • For the fourth quarter of 2011, income from continuing operations was $0.8 million or $0.08 per diluted share, up sequentially from $0.3 million or $0.02 per diluted share in the third quarter of 2011, and up from $0.2 million or $0.02 per diluted share reported in the fourth quarter of 2010. The fourth quarter of 2011 includes a credit of $1.3 million to operating expenses and $0.3 million of other expense representing the impact of the settlement and distribution agreement signed in November with Alcon.
  • For the full-year 2011, income from continuing operations was $2.1 million or $0.21 per diluted share, compared to $1.7 million or $0.16 per diluted share reported in the full-year 2010. The full-year 2011 includes a credit of $1.3 million to operating expenses and $0.3 million of other expense representing the impact of the agreements with Alcon.

    • President and CEO Dominik Beck said, "The turn of the year 2011/12 marked the culmination of a period of intense business development and market activity as we executed on a number of key elements of our strategic plan.  By selling our aesthetics laser business, we can now focus solely on our ophthalmology business. By entering into a distribution agreement with Alcon we have
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