CHATSWORTH, Calif., Dec. 2, 2011 (GLOBE NEWSWIRE) -- IRIS International, Inc. (Nasdaq:IRIS), a leading manufacturer of automated in-vitro diagnostics systems and consumables, and a developer of high-value personalized diagnostics tests, is announcing preliminary 2012 guidance at a meeting for investors and analysts on Friday, December 2, 2011 from 8:00am to 10:30am Eastern time, at the New York Athletic Club located at 180 Central Park South in New York, New York.
César García, the Company's Chairman and Chief Executive Officer, is hosting the meeting. During the meeting Mr. García will provide updates on the Company's product pipeline and core business strategy. Dr. Tom Adams, Corporate Vice President, Chief Technology Officer of IRIS and Head of Iris Molecular Diagnostics will then provide an overview of NADiA® ProsVue™, which will be followed by a presentation given by Dr. Judd W. Moul, F.A.C.S., Professor and Director of the Duke Prostate Center at Duke University Medical Center. Dr. Moul will discuss his current practice patterns, as well as the clinical utility of NADiA ProsVue and potential market opportunity for the test. In addition, the Company's Chief Financial Officer, Amin Khalifa, will provide a financial update and preliminary 2012 guidance for the Company. Following the presentations, there will be a question and answer session.
2012 Company Outlook
The Company is providing 2012 revenue guidance in a range of to $127 million - $131 million and GAAP EPS of $0.30 - $0.35, which includes the sales and marketing expense of a focused direct sales effort for ProsVue. The Company expects research and development expense to represent 15% to 16% of revenue in 2012.
A live webcast of the presentation of the IRIS International Investor Breakfast will be accessible through the Company's investor relations website at www.proiris.com. An archived edition of the presentation will be available later that day and will be available for at least 30 days afterwards.
About IRIS International, Inc.
IRIS International, Inc. is a leading global in vitro diagnostics company focused on products that analyze particles and living cell forms and structures, or morphology of a variety of body fluids. The Company's products leverage its strengths in flow imaging technology, particle recognition and automation to bring efficiency to hospital and commercial laboratories. The initial applications for its technology have been in the urinalysis market and the Company is the leading worldwide provider of automated urine microscopy and chemistry systems, with an installed base of more than 3,200 systems in more than 50 countries. The Company is expanding its core imaging and morphology expertise into related markets and is developing applications in hematology and body fluids. In addition, the Company's personalized medicine group has a high complexity CLIA-certified laboratory supporting the development and commercialization of the Company's NADiA® ultra-sensitive nucleic acid detection immunoassay technology platform, with applications in oncology and infectious disease. For more information, please visit www.proiris.com.
Safe Harbor Provision
This press release contains forward-looking statements made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, the Company's views on future financial performance, market growth, capital requirements, regulatory developments, new product introductions and acquisitions, and are generally identified by phrases such as "thinks," "anticipates," "believes," "estimates," "expects," "intends," ,"plans," and similar words. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statement. These statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of the Company's industry, R&D initiatives, competition and capital requirements. Other factors and uncertainties that could affect the Company's forward-looking statements include, among other things, the following: identification of feasible new product initiatives, management of R&D efforts and the resulting successful development of new products and product platforms; obtaining regulatory approvals for new and enhanced products; acceptance by customers of the Company's products; integration of acquired businesses; substantial expansion of international sales; reliance on key suppliers; the potential need for changes in long-term strategy in response to future developments; future advances in diagnostic testing methods and procedures; potential changes in government regulations and healthcare policies, both of which could adversely affect the economics of the diagnostic testing procedures automated by the Company's products; rapid technological change in the microelectronics and software industries; and competitive factors, including pricing pressures and the introduction by others of new products with similar or better functionality than our products. These and other risks are more fully described in the Company's filings with the Securities and Exchange Commission, including the Company's most recently filed Annual Report on Form 10-K and Quarterly Report on Form 10-Q, which should be read in conjunction herewith for a further discussion of important factors that could cause actual results to differ materially from those in the forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.