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IRIDEX Reports Fourth Quarter and Full Year 2009 Financial Results
Date:3/4/2010

ney">$(0.74) per diluted share for the fourth quarter of 2008. Gross margins improved to 45.6% from 37.5%, although revenue for the fourth quarter of 2009 was $11.6 million, a 4.8% decrease from the $12.1 million reported for the fourth quarter of 2008. For the fiscal year ended January 2, 2010, the Company recorded a net profit of $2.6 million or $0.29 per diluted share compared to a net loss of $7.4 million or $(0.84) per diluted share reported for 2008. Gross margins improved to 46.9% from 40.6%, although revenue for the full year 2009 was $43.2 million, an 11.0% decrease from the $48.5 million reported for 2008.

In 2008, the fourth quarter and full year results included an impairment charge of $5.4 million for write down of goodwill and intangible assets which represented $0.61 per diluted share.

"Our cash generation remains excellent. We have generated $6.8 million in cash from operations for the year. Our cash balance now stands at $9.4 million and we have reduced our bank debt from $6.0 million to $3.5 million" stated Mr. Theodore A. Boutacoff, President and CEO. "We continue to see the benefit
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