IRIDEX Announces Preliminary Unaudited Revenues For 2013 Fourth Quarter and Year End

 IRIDEX Announces Preliminary Unaudited Revenues For 2013 Fourth Quarter and
                                   Year End

PR Newswire

MOUNTAIN VIEW, Calif., Jan. 28, 2014

MOUNTAIN VIEW, Calif., Jan. 28, 2014 /PRNewswire/ -- IRIDEX Corporation
(Nasdaq:IRIX) today reported preliminary revenues of approximately $10.6
million and $38.3 million for the fourth quarter and full year 2013,
respectively. Preliminary revenues in the fourth quarter exceeded the high end
of the Company's guidance and were driven by a continued strong uptick in
sales of laser systems both in the U.S. and internationally. Management had
projected revenues to be between $10.2 million and $10.5 million in the fourth
quarter of 2013.

"We are very pleased to see the strong top line results based on the traction
gained by our new commercial model and an evolving global recognition of
lasers as a clinically durable and cost-effective tool for preventing vision
loss which is in line with the move in healthcare at large towards value based
medicine," said CEO William M. Moore. "The global distribution and supply
agreement we announced with Peregrine last April is proving to be an
exceptionally good strategy so far. It has enabled us to extend our sales
force, broaden our channel offering, get consumable products to market faster
and allowed our direct sales team to better focus on capital equipment sales."

Moore added that the product mix during the fourth quarter continued to be
weighted toward laser system sales rather than the higher gross margin
consumables. As a result, IRIDEX anticipates gross margins for the 2013 fourth
quarter just slightly below the guidance of between 49 percent and 51 percent.
And operating expenses for the period are expected to be at high end of the
guidance range at approximately $4.6 million.

About IRIDEX

IRIDEX Corporation was founded in 1989 and is a worldwide leader in
developing, manufacturing, and marketing innovative and versatile laser-based
medical systems, delivery devices and consumable instrumentation for the
ophthalmology market. We maintain a deep commitment to the success of our
customers, with comprehensive technical, clinical, and service support
programs. IRIDEX is dedicated to a standard of excellence, offering superior
technology for superior results. IRIDEX products are sold in the United States
through a direct sales force and internationally through a combination of a
direct sales force and a network of approximately 70 independent distributors
into over 100 countries. For further information, visit the IRIDEX website at
http://www.iridex.com/.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of
Section27A of the Securities Act of 1933, as amended, and Section21E of the
Securities Act of 1934, as amended, relating to the Company's anticipated
revenues, gross margins, expenses and other financial results for the fourth
quarter and full year 2013, the markets and demand for the Company's products,
the Company's commercial model and strategic plan, including its partnering
arrangement with Peregrine, and its product offerings and product mix, and any
other matters that do not constitute historical facts. These statements are
not guarantees of future performance and actual results may differ materially
from those described in these forward-looking statements as a result of a
number of factors. Please see a detailed description of these and other risks
contained in our Annual Report on Form 10-K for the fiscal year ended December
29, 2012, and our Quarterly Reports on Form 10-Q for the fiscal quarters ended
March30, 2013, June29, 2013, and September28, 2013, each of which was filed
with the Securities and Exchange Commission. Forward-looking statements
contained in this announcement are made as of this date and will not be
updated.

SOURCE IRIDEX Corporation

Website: http://www.iridex.com
Contact: IRIDEX Contact: Jim Mackaness, CFO & COO, 650-940-4700, or Investor
Relations Contact, Matt Clawson, Allen & Caron, 949-474-4300,
matt@allencaron.com
 
Press spacebar to pause and continue. Press esc to stop.