Iridex reports Q2 EPS (16c), one-estimate (12c)

Reports Q2 revenue $12.6M,one-estimate $12.8M.”Our second quarter results demonstrate stabilization of the business. We drove solid year-over-year growth in our Retina business while growing glaucoma probe units 14% over the first quarter. We have observed a firmer capital environment as we closed on more extended-cycle equipment sales but in general cycles still remain elongated. In glaucoma, stabilized procedure reimbursement in the U.S. supported sequential improvements in glaucoma probe shipments as expected,” said David Bruce, CEO of Iridex. “I want to reiterate we are prioritizing pursuit of our strategic review process and seek to reach a transaction this fiscal year. The recent convertible note funding provides discounted prepayment options that can be utilized in the event of transaction completion, and when combined with further prudent expense reductions, maintains solid liquidity runway to continue growth recovery and reach completion of our strategic process.”