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

755Income from operations

1,1747872,7972,518Legal settlement

--800800Interest and other expense, net

(29)(40)(78)(237)Income before income taxes

1,1457473,5193,081Provision for income taxes

308230473496Net income

$
837$ 517$ 3,046$ 2,585Net income per share - basic

$ 0.09$ 0.06$ 0.34$ 0.29Net income per share - diluted

$ 0.08$ 0.05$ 0.30$ 0.26Shares used in computing net income per share - basic

8,9828,8478,9438,840Shares used in computing net income per share - diluted

10,2009,92810,1349,940IRIDEX CorporationCondensed Consolidated Balance Sheets(In thousands)

(unaudited)January 1,January 2,20112010Assets(unaudited)Current Assets:Cash and cash equivalents

$ 9,014$ 9,378Accounts receivable, net

7,5267,482Inventories, net

9,2128,999Prepaids and other current assets

620470Total current assets

26,37226,329Property and equipment, net

360486Other long-term assets

218323Other intangible assets, net

1,7971,153Goodwill

4730Total assets

$ 29,220$ 28,291Liabilities and Stockholders' EquityCurrent Liabilities:Accounts payable

$ 1,981$ 1,872Bank line of credit

03,520Accrued compensation

2,3042,171Accrued expenses

1,8221,983Accrued warranty

9561,165Deferred revenue

2,1342,405Total current liabilities

9,19713,116Long Term Liabilities:Other long-term liabilities

596149Total liabilities

9,79313,265Stockholders' Equity:Convertible preferred stock

55Common Stock

8989Additional paid-in capital

41,16839,820Accumulated other comprehensive loss

(205)(212)Treasury stock, at cost

(430)(430)Accumulated deficit

(21,200)(24,246)Total stockholders' equity

19,42715,026Total liabilities and stockholders' equity

$  29,220$ 28,291
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SOURCE IRIDEX Corporation
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