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Iridex reports 13% earnings rise in second quarter

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MOUNTAIN VIEW, Calif. - Iridex reported a 13% increase in earnings for the second quarter, up to $0.9 million, compared with the $0.8 million posted in last year's second quarter, a company press release said.

Iridex also posted $10.8 million in total sales, up 9% from last year's second quarter, with direct ophthalmology sales growing 8% from last year, according to the release.

"Second-quarter sales were within guidance, gross margin was below guidance and operating expenses were better than guidance. Our core ophthalmology business saw 8% growth even with a challenging equipment environment in Europe and certain other overseas markets," Theodore A. Boutacoff, president and CEO of Iridex, said in the release.

Global sales of the company's IQ 577 yellow laser reached a quarterly high.

"More and more physicians are recognizing the added benefits of working with a true yellow wavelength and having the ability to use our MicroPulse technology to perform tissue-sparing laser photocoagulation procedures," Mr. Boutacoff said.