IRIDEX Announces Departure of Chief Financial Officer and Reiterates Full Year 2018 Guidance
December 04 2018 - 4:05PM
IRIDEX Corporation (Nasdaq: IRIX) today announced Chief Financial
Officer Atabak Mokari will leave the Company for a senior finance
executive role at another company. Mokari has agreed to assist in
the orderly transition of his CFO responsibilities and will leave
the Company effective December 18, 2018. IRIDEX plans to search for
a replacement.
“We would like to thank Atabak for his service throughout the
significant transformation of our business into the glaucoma
treatment market,” said William M. Moore, Chairman and Chief
Executive Officer. “With a high level of professionalism and
dedication, he led us through multiple capital raises and assisted
in the transition of our organization. We wish him well in his next
endeavor.
“As we identify a replacement, Romeo Dizon, Vice President of
Finance will be assuming responsibility for financial controls and
reporting. During his lengthy tenure with the Company, he has
previously stepped successfully into this role before and we are
very confident in his abilities,” Moore concluded.
"The motivated and talented team at IRIDEX has been a pleasure
to work with," said Atabak Mokari, Chief Financial Officer. "I am
proud of our accomplishments over the last few years. The
opportunity in glaucoma continues to grow and I am confident the
Company is well positioned to further penetrate and make inroads
throughout the glaucoma treatment continuum."
Guidance for Full Year 2018
IRIDEX reiterates its guidance range for G6 systems, probes and
total revenue. The Company expects G6 system shipments of 430 to
450, G6 probe shipments of 44,000 to 46,000 and total revenue of
$41 million to $42 million.
About IRIDEX
IRIDEX Corporation 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. The Company’s proprietary MicroPulse®
technology delivers a differentiated treatment that provides safe,
effective, and proven treatment for targeted sight-threatening eye
conditions. IRIDEX’s current product line is used for the treatment
of glaucoma, diabetic macular edema (DME) and other retinal
diseases. IRIDEX’s products are sold in the United States through a
direct sales force and internationally primarily through a network
of independent distributors into more than 100 countries. IRIDEX is
headquartered in Mountain View, CA.
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,
including those statements concerning personnel searches, guidance
and financial performance. 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 30, 2017, and Quarterly Reports on Form
10-Q for subsequent fiscal quarters, 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.
Investor Relations Contact:Lynn Pieper Lewis or
Leigh Salvo(415) 937-5404investors@iridex.com
Media Contact:Jamie Hall Pascale
Communications, LLC.724-417-0167jamie@pascalecommunications.com
IRIDEX (NASDAQ:IRIX)
Historical Stock Chart
From Mar 2024 to Apr 2024
IRIDEX (NASDAQ:IRIX)
Historical Stock Chart
From Apr 2023 to Apr 2024