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IRIDEX Reports Strong Growth and Profits in 2010 Fourth Quarter
Date:3/3/2011

llion, or $0.26 per diluted share, for fiscal 2009.  For fiscal 2010, total sales were $43.7 million, up modestly from the $43.2 million in fiscal 2009.  Gross profits and operating expenses were also slightly higher in 2010 over the prior year.  

"We achieved a record $2.8 million operating income for the year and maintained excellent cash generation. We started the year with $3.5 million in debt and $9.4 million in cash and closed the year with no debt and $9 million in cash. Having executed a difficult financial and operational turnaround over the past 2 years, we enter 2011 with increased financial strength and important new technologies available to market.  That improved operating platform positions us well to now accelerate growth through executing our strategy of organic initiatives supplemented by smart acquisitions," continued Mr. Boutacoff.

2010 Business Highlights

  • Acquired ophthalmology products from RetinaLabs – first acquisition as part of strategy to broaden consumable product portfolio.
  • First commercial shipment of IQ532 laser system – second new laser based on common platform introduced within one year of launch of IQ577 laser system.
  • Publication of study demonstrating IRIDEX MicroPulse laser effectively treats eyes with diabetic macular edema with results showing improved retinal sensitivity to standard laser treatment – growing body of evidence in support of clinical benefits of performing tissue sparing laser photocoagulation.
  • Granted U.S. Patent for MicroPulse Technology – MicroPulse Technology provides the ophthalmologist with fine dose control of laser energy during eye surgery, giving IRIDEX a competitive advantage in developing tissue sparing laser systems.
  • IRIDEX began shipment of extended EndoProbe device family to Japan - another step in our global strategy of growing our consumable instrumentation product revenues.
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