This article is more than 5 years old. Information may no longer be current.

Iridex posts $300,000 first-quarter loss for continuing operations

Add topic to email alerts

Receive an email when new articles are posted on

Please provide your email address to receive an email when new articles are posted on .

Subscribe

Added to email alerts

You've successfully added to your alerts. You will receive an email when new content is published.

Click Here to Manage Email Alerts

You've successfully added to your alerts. You will receive an email when new content is published.

Click Here to Manage Email Alerts

Back to Healio

We were unable to process your request. Please try again later. If you continue to have this issue please contact customerservice@slackinc.com.

Back to Healio

MOUNTAIN VIEW, Calif. — Iridex is reporting ophthalmology revenue of $8.3 million for the quarter that ended March 31, up from $8.2 million in the same quarter last year, according to a company news release.

The net loss from continuing operations for the first quarter was $300,000, compared with a net income of $200,000 in the first quarter of 2011.

The company also closed the sale of its aesthetics business to Cutera during the first quarter for about $5.1 million. The sale will allow Iridex to focus entirely on growth in global glaucoma and retina markets, according to the release.

"I believe there are a number of very promising trends in the ophthalmic space and that these trends can be turned into substantial growth opportunities,” Iridex president and CEO Dominik Beck said in the release. “We are uniquely positioned as the only U.S. public company with an exclusive focus on the large and growing retinal disease and glaucoma markets to capitalize on those opportunities."

Iridex is predicting revenue between $8.5 million and $8.8 million, gross margins between 49% and 51%, and operating expenses between $4.2 million and $4.4 million for the second quarter.