Iridex reports $10.5 million in quarterly revenue

Iridex reported revenue of $10.5 million in the first quarter of 2017 compared with revenue of $11.9 million in the same time period last year, according to a company press release.

The 12% decrease was attributed to lower medical and surgical product revenue.

Operating expenses were up from $5.1 million to $6.3 million, and loss from operations was $1.9 million compared with income from operations of $0.2 million last year.

As of April 1, the company reported cash and cash equivalents of $23.9 million.