CHATSWORTH, Calif., July 27, 2010 (GLOBE NEWSWIRE) -- IRIS International, Inc. (Nasdaq:IRIS), reflecting continued improved instruments sales and record sales of consumables and service, today announced revenue of $26.7 million for the second quarter ended June 30, 2010, a 19% increase from revenue of $22.3 million in the prior year second quarter and the highest revenue quarter in the Company's history. Net income for the second quarter 2010 was $624,000, or $0.03 per diluted share, compared with net income of $1.0 million, or $0.06 per diluted share, in the year ago period. Second quarter 2010 included unfavorable foreign currency fluctuation of approximately $800,000, primarily resulting from the precipitous drop in the Euro and British Pound currencies attributable to the European debt crisis, CFO severance and related costs of approximately $381,000 and acquisition related expenses of approximately $321,000. The total impact of these charges adversely impacted the second quarter earnings by approximately $0.06 per diluted share. We are presenting below a tabular presentation of what earnings and diluted EPS would have been had these charges not occurred. These non-GAAP financial measures are labeled as adjusted net income and adjusted diluted EPS. Diluted weighted average shares outstanding for the three months ended June 30, 2010 and 2009, were 18.1 million and 17.9 million, respectively.
