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

erially 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 Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2012 which were 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.

TABLES FOLLOWIRIDEX Corporation

Condensed Consolidated Statements of Operations(In thousands, except per share data)(unaudited)Three Months EndedSix Months EndedJune 30,July 2,June 30,July 2,2012201120122011Total revenues

$8,445$8,085$16,750$16,281Cost of revenues

4,3344,1478,6538,259Gross profit

4,1113,9388,0978,022Operating expenses:Research and development

1,1068902,2881,853Sales and marketing

2,1221,7863,9863,564General and administrative

1,2331,0222,4092,105Total operating expenses

4,4613,6988,6837,522(Loss) income from operations

(350)240(586)500Other (expense) income, net

752803725807Income from continuing operations before income taxes

4021,0431391,307Provision for  income tax

51447223Income from continuing operations, net of tax

3978991321,084(Loss) income from discontinued operations, net of tax

(61)10(223)391Gain on sale of discontinued operations, net of tax

--2,032-(Loss) income from discontinued operations, net of tax

(61)101,809391Net income

$336$909$1,941$1,475Net (loss) income per share:BasicContinuing operations

$0.04$0.10$0.01$0.12Discontinued operations

0.000.000.210.04Net income

$0.04$0.10$0.22$0.16DilutedContinuing operations

$0.04$0.09$0.01$0.10Discontinued operations

(0.01)0.000.180.04Net income

$0.03$0.09$0.19$0.14 

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SOURCE IRIDEX Corporation
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