Iridex Earnings Hold Steady in Second Quarter

Iridex Corp. earnings were relatively stable and revenue climbed 15 percent in the second quarter as the company continues to promote its laser eye treatment product.

Revenues were $10.6 million, compared to $9.2 million in the second quarter of 2013. Net income was $300,000, compared to net income in last year's second quarter of $400,000.

The company expects revenue of $10 million to $10.3 million, representing growth of 5 percent to 8 percent over last year’s third quarter.

Iridex CEO Will Moore said sales were strong for MicroPulse, a laser system for treating diabetes-related retinal disease. The results from a one-year, multicenter study of MicroPulse technology as a treatment for glaucoma were presented at the American Society of Cataract and Refractive Surgeons conference in April.

Meanwhile, Iridex’s board of directors recently established a new $3 million share repurchase program, following on another that involved buying approximately 377,000 shares at an average price of $7.97 since February 2013.

For more information, visit www.iridex.com.