(Source: PrimeNewswire)
CHATSWORTH, Calif., May 26, 2009 (GLOBE NEWSWIRE) -- IRIS International, Inc. (Nasdaq:IRIS), a leading manufacturer of urinalysis systems and consumables for use in hospitals and commercial laboratories worldwide, "following resumption of full-scale shipments of its new iChem(r)Velocity(tm) Automated Urine Chemistry Analyzers to the international market, remains on track for achieving its previously announced guidance for the current second quarter ending June 30, and for the full year ending December 31, 2009," Cesar Garcia, Chairman and Chief Executive Officer, told shareholders attending its Annual Meeting held here on Friday.
"As previously reported, all product improvements have been completed and validated and we have re-initiated full-scale shipments of the iChem(r)Velocity(tm) and iRICELL(tm) integrated workstations to the international marketplace. The $1.2 million in systems backlog carried over from the first quarter ended March 31, is shipping and we are continuing to see strong international demand with growing unit sales and order backlog in the current second quarter, and beyond," Mr. Garcia said. "We are awaiting FDA clearance to market the iChem(r)Velocity(tm) in the U.S., which is expected to result in greater sales momentum and pull through for our new integrated iRICELL(tm) workstation and related high margin consumables and service revenue," he added.
"Regarding our NADiA(r)ProsVue(tm) ultra sensitive prostate-specific antigen (PSA) diagnostic assay for identifying prostatectomy patients with low risk of cancer recurrence, once we have received the pending necessary Institutional Review Board (IRB) approval from the various medical centers, we are planning to commence the next stage larger multi center clinical study. As previous stated, we expect this study to be completed and submitted with an FDA 510(k) application in the mid-Summer of 2009," Mr. Garcia said.
Shareholders attending the Annual Meeting and those voting by Proxy, elected seven directors to the Company's Board of Directors until the 2010 Annual Meeting. They are: Cesar M. Garcia, Chief Executive Officer, President and Chairman of the Board, and a director since November 2003; Thomas H. Adams, Ph.D., Chief Technology Officer of IRIS and director since June 2005; Steven M. Besbeck, director since 1990, and previously President and Chief Executive Officer of Aspyra, Inc. (AMEX:APY) ; Michael D. Matte, director since January 2004, and currently Executive Vice President and Chief Financial Officer of Quepasa Corporation (Nasdaq:QPSA); Richard G. Nadeau, Ph.D., director since January 1999, and Founder and Chairman of Vistair Ventures; and Edward F.
