IRIDEX (NASDAQ:IRIX) Releases Quarterly Earnings Results

IRIDEX (NASDAQ:IRIX) issued its quarterly earnings results on Tuesday. The medical equipment provider reported ($0.12) earnings per share for the quarter, Zacks reports. The company had revenue of $11.58 million during the quarter. IRIDEX had a negative net margin of 22.79% and a negative return on equity of 163.45%. During the same period in the prior year, the company posted ($0.11) earnings per share.

IRIDEX Stock Performance

IRIX traded up $0.45 during trading on Wednesday, reaching $1.86. The company had a trading volume of 273,504 shares, compared to its average volume of 30,964. The business’s fifty day moving average price is $1.69 and its 200 day moving average price is $2.03. IRIDEX has a 12 month low of $1.27 and a 12 month high of $3.65.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on IRIDEX in a report on Saturday. They issued a “hold” rating on the stock.

About IRIDEX

IRIDEX Corporation, an ophthalmic medical technology company, provides therapeutic based laser systems, delivery devices, and consumable instrumentation to treat sight-threatening eye diseases in ophthalmology. It offers laser consoles, such as Cyclo G6 laser system for use in the treatment of glaucoma; IQ 532 and IQ 577 laser systems, which are used for the treatment of retinal disorders; and OcuLight TX, OcuLight SL, OcuLight SLx, OcuLight GL, and OcuLight GLx laser photocoagulation systems that are used to treat proliferative diabetic retinopathy, macular holes, retinal tears, and detachments.