UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

FORM 8‑K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)

January 28, 2014

 

IRIDEX CORPORATION

(Exact name of registrant as specified in its charter)

1212 Terra Bella Avenue

Mountain View, California 94043

(Address of principal executive offices, including zip code)

(650) 940-4700

(Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[  ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

 

Item 8.01     Other Events.

On January 28, 2014, IRIDEX Corporation (the “Company”) filed a press release announcing its preliminary results of operations for the fourth quarter and full fiscal year 2013.  A copy of that press release is furnished as Exhibit 99.1 hereto and is incorporated herein by reference.

This information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

 

Item 9.01.     Financial Statements and Exhibits.

(d)         Exhibits

 

 

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date:  January 29, 2014

 

 

 

EXHIBIT INDEX

 

Exhibit 99.1

 

IRIDEX Announces Preliminary Unaudited Revenues

For 2013 Fourth Quarter and Year End

MOUNTAIN VIEW, Calif., January 28, 2014 -- 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 Section 27A of the Securities Act of 1933, as amended, and Section 21E 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 March 30, 2013, June 29, 2013, and September 28, 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.