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IRIDEX Reports 2012 Second Quarter Results
Date:8/2/2012

$4.2 million and $4.4 million and anticipates being at breakeven for operating income.

President and CEO Dominik Beck said, "Demand and delivery of both capital equipment and consumable products remained stable in the second quarter with a number of promising improvements.  On the consumables side of the business, sales of our glaucoma product continued to strengthen following a focused marketing campaign that began at the beginning of 2012.  In addition, our licensing and distribution partnership is delivering strong results and current indications are for this to continue. This success is a validation of our M&A strategy as the small acquisition of RetinaLabs has already paid for itself several times over, and we anticipate similar impacts from our Ocunetics acquisition following the planned product launch in early 2014."

Beck continued, "As we indicated last quarter, we anticipate that our increased investments in people and programs across the organization will drive overall sales growth in the second half of the year, and we intend to balance our investments in line with our revenue growth to maintain profitability for the year.

"The most exciting marketing feedback I have received this quarter, for both clinical and investor audiences, is the accelerating adoption of MicroPulse™ for treatment of diabetic macular edema (DME). We have been working on economic models that make sense to the doctor and healthcare systems to encourage their adoption of this new treatment paradigm that has multiple benefits to the patient, and we are starting to see these models impact the purchasing decisions of our customer base. Furthermore, our experiences in DME have led us to explore opportunities for MicroPulse in the treatment of glaucoma. We are working with a number of key opinion leaders in glaucoma who have begun to explore how our minimally invasive technology can improve on the current standard of care for treating glaucoma.
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SOURCE IRIDEX Corporation
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