IRIDEX Corporation (NASDAQ:IRIX) is reporting third quarter financial results on Monday 9th November 2020, after market close.
According to analysts surveyed by Thomson Reuters, IRIX is expected to report 3Q20 loss of $ 0.17 per share from revenue of $ 7.79 million.
For the full year, analysts anticipate top line of $ 33.05 million, while looking forward to loss of $ 0.61 per share bottom line.
Previous Quarter Performance
IRIDEX Corporation revealed loss for the second quarter of $ 0.20 per share, from the revenue of $ 6.22 million. The quarterly revenues contracted 40.36 percent compared with the same quarter last year. Wall street analysts are predicting, IRIX to report 2Q20 loss of $ 0.22 per share from revenue of $ 5.94 million. The bottom line results beat street analysts by $ 0.02 or 9.09 percent, at the same time, top line results outshined analysts by $ 0.28 million or 4.71 percent.
Stock Performance
On Friday, shares of IRIDEX Corporation has traded high as $ 1.82 and has cracked $ 1.68 on the downward trend, reaching $ 1.68 with volume of 13.60 thousand shares.
According to the previous trading day, closing price of $ 1.68, representing a 49.18 % increase from the 52 week low of $ 1.22 and a 57.08 % decrease over the 52 week high of $ 4.24.
The company has a market capital of $ 23.33 million and is part of the Healthcare sector and Medical Devices industry.
Conference Call
IRIDEX Corporation will be hosting a conference call at 5:00 PM eastern time on 9th November 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.iridex.com
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. The company offers laser consoles, such as Cyclo G6 laser system for use in the treatment of glaucoma; IQ 532 and IQ 577 laser photocoagulation systems, which are used for the treatment of diabetic macular edema and other retinal diseases; 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. It also provides delivery devices, including TxCell scanning laser delivery system that allows the physician to perform multi-spot pattern scanning; slit lamp adapter, which allows the physician to utilize a standard slit lamp in diagnosis and treatment procedures; and laser indirect ophthalmoscope for use in procedures to treat peripheral retinal disorders.
