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IRIDEX Reports 2013 Second Quarter Results; $9.2 Million Record Q2 Revenue
Date:8/1/2013

MOUNTAIN VIEW, Calif., Aug. 1, 2013 /PRNewswire/ -- IRIDEX Corporation (Nasdaq: IRIX) today reported financial results for the second quarter ended June 29, 2013. 

  • Revenues were $9.2 million in the second quarter of 2013, up from $8.4 million in the prior year comparable period and up sequentially from $8.9 million in the first quarter of 2013.
  • For the second quarter of 2013, operating income was $0.5 million compared with an operating loss of $0.4 million for the second quarter of 2012.
  • Net income from continuing operations was $0.4 million or $0.04 per diluted share for the second quarter of both 2013 and 2012. The second quarter of 2012 benefited from the final $0.8 million payment under a legal settlement that was recorded as part of other income.
  • Gross margin for the second quarter of 2013 was 48.7%, comparable to 48.7% in the prior year period and up from 47.3% in the 2013 first quarter.
  • As anticipated, operating expenses again trended downward in the second quarter of 2013 to $4.0 million compared to $4.5 million in the prior year period.
  • Revenues for the first six months 2013 were $18.1 million, up 8% from last year's first six months.
  • Operating income for the first half of 2013 was $1.4 million, up $2.0 million from last year.
  • Income from continuing operations for the first half of 2013 was $1.3 million compared to $0.1 million for the first half of 2012, or earnings of $0.13 per share compared to $0.01 per share on a diluted basis.
  • Guidance for third quarter: The Company expects to achieve revenue between $8.8 million and $9.1 million, representing growth of between 11% and 15% over the prior year period. Gross margin is anticipated to come in between 47% and 49%, operating expenses between $3.9 million and $4.1 million and the Company anticipates generating operating income.'/>"/>

  • SOURCE IRIDEX Corporation
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