Iridex Q3 EPS $(0.11) Beats $(0.12) Estimate, Sales $12.85M Miss $13.48M Estimate
Portfolio Pulse from Benzinga Newsdesk
Iridex Corporation (NASDAQ:IRIX) reported Q3 earnings with an EPS of $(0.11), slightly better than the estimated $(0.12). However, their sales for the quarter were $12.85M, missing the $13.48M estimate and showing a 12.20% decrease from the previous year's same quarter sales of $14.63M.
November 14, 2023 | 10:21 pm
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NEUTRAL IMPACT
Iridex's Q3 EPS outperformed estimates, but sales underperformed both estimates and last year's figures, indicating mixed financial health.
While the EPS beat may provide some positive sentiment, the miss on sales and the year-over-year decline is likely to raise concerns about the company's revenue growth and could potentially offset any gains from the EPS beat. The mixed results present a neutral outlook in the short term as investors digest both the positive and negative aspects of the report.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100