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IRIDEX Reports 2013 First Quarter Results
Date:5/2/2013

quarter was approximately double that seen in last year's period, giving us one more indication that we are edging towards a technology-driven tipping point in the market."

Moore continued, "We will look to grow and increase profitability, invest in products that our customers want and that can be delivered to the market rapidly, and be opportunistic in acquiring or partnering with ophthalmic companies that have developed excellent technologies. Peregrine is a great example of such a partnership, as it allows us to market additional consumable products at different price points.  The relationship should lower our supply chain costs and we are already, jointly, working on new product initiatives in the high-margin consumable product category."

The preceding commentary relates to the results of the Company's continuing ophthalmology business. In February 2012, the Company sold its aesthetics laser business and the financial statements reflect the results of its aesthetics laser business as discontinued operations.

Recent Business Highlights

  • The Company entered into a global distribution and supply agreement with Peregrine Surgical, Ltd., a privately held company based in New Britain, Pennsylvania. Under the agreement, IRIDEX will become a worldwide distributor for Peregrine labeled products and Peregrine Surgical will become part of the IRIDEX supply chain for the manufacture of certain IRIDEX products.
  • Following a fourth quarter 2012 FDA 510(k) CE clearance, the Company commenced its full commercial launch of its TxCell Scanning Laser Delivery System. This new product saves significant time in a variety of laser photocoagulation procedures by allowing physicians to deliver the laser in a multi-spot scanning mode, a more efficient method for these procedures than the traditional single spot mode.  Management believes that the clinical and practice benefits of this technology will accelerate the adoption of the proprie
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  • SOURCE IRIDEX Corporation
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