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

60; If the results of these initiatives indicate an equivalent or better outcome than currently available options, we could see a significant impact to our revenues as this is a large market opportunity."

During the second quarter 2012, the Company continued to execute its share repurchase program. Since the beginning of 2011, approximately 240,000 shares have been repurchased at an average price of $3.93. In May 2012, the Board of Directors approved an extension of the Company's share repurchase program through March 2013 and an increase in the amount of cash available for the program to a total of $4 million.

1H 2012 Business Highlights

  • The Company launched a new non-invasive, in-office glaucoma procedure based on its proprietary MicroPulse technology.  The new glaucoma therapy, a tissue-sparing, repeatable therapy called MicroPulse Laser Trabeculoplasty (MLT), was introduced by IRIDEX at the recent American Society of Cataract and Refractive Surgery (ASCRS).
  • The Company announced the first use of MicroPulse Laser Therapy (MPLT), using the IQ 577 laser coupled with EndoProbe® instrumentation. This is the first time tissue-sparing laser therapy has been delivered through an intraocular fiber-optic probe in a surgical setting marking another important milestone towards intraocular MPLT approaches to treating a broader range of sight-threatening disease, including glaucoma.
  • The Company closed the sale of its aesthetics business to Cutera, Inc. for approximately $5.1 million. The sale allows the resources of the entire organization to now focus on the substantial and growing opportunity in the worldwide retina and glaucoma markets.
  • Conference Call IRIDEX management will conduct a conference call later today, Thursday, August 2, 2012 at 5:00 p.m. Eastern Time.  Interested parties may access the live conference call via telephone by dialing (877) 941-2333 (U.S.) or (480) 629-9724 (Internationa
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