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Iridex revenue decreases in 2017

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Iridex reported $10.2 million in revenue in the fourth quarter of 2017, an 18% decrease compared with $12.5 million in 2016’s fourth quarter, the company announced in a press release.

The difference was attributed to a voluntary recall of the TruFocus LIO Premiere laser accessory, but it was offset by revenue from Cyclo G6 laser system and probe shipments, the release said.

Net loss for the quarter was $5.2 million compared with $10.8 million in the fourth quarter of 2016.

For the full year, revenue decreased 10% to $41.6 million compared with $46.2 million in 2016.

Yearly net loss was $12.9 million compared with $11.7 million the previous year.

Operating expenses were up from $23.4 million in 2016 to $28.4 million.

Iridex reported cash and cash equivalents of $21.7 million as of Dec. 30.