Iridex reports positive fourth quarter

Iridex Corp. reported revenues of $10.6 million for the fourth quarter ended Dec. 28, 2013, up 15 percent from $9.2 million during the comparable period in the prior year.

“We saw strong sales in the fourth quarter, exceeding our revenue guidance. The trend of stronger system sales continued in the quarter as buying patterns trend up in the U.S., Micropulse adoption steadily improves, our recently launched TxCell pattern scanning delivery device has been met with strong demand and we continue to be successful in international tenders,” said the company’s president and CEO Will Moore.

“After finishing 2013 on a very strong note, we think 2014 will show these trends continuing and you  will see us focus on bringing our glaucoma product offerings to the forefront. We see the glaucoma  market as one that we can penetrate using both MicroPulse technology for MLT procedures to drive system sales and we are developing a family of consumable products that can further improve patient outcomes,” continued Moore.

Revenues for 2013 were $38.3 million, up 13 percent from $33.9 million in 2012. Operating income for 2013 was $2.6 million, up $3.5 million from an operating loss of $900,000 in 2012. Net income from continuing operations for 2013 was $2.2 million compared to a loss from continuing operations of $200,000 million for 2012.

For the first quarter of 2014, Iridex expects to achieve revenue between $9.8 million and $10.1 million, representing growth of between 9 and 13 percent compared with the first quarter of 2013.