| CONTACTS: |
César García,
President and Chief Executive Officer |
|
818-709-1244 x 7123
|
|
-or-
|
|
Ron Stabiner, The Wall Street Group, Inc. |
|
212-888-4848 |
CHATSWORTH, Calif., Nov 26, 2007 - IRIS International, Inc. (NASDAQ GM: IRIS)
a leading developer, manufacturer and marketer of medical devices, diagnostic systems and consumables, today announced that it has filed a shelf registration statement on Form S-3 with the Securities and Exchange
Commission (SEC) which, when declared effective by the SEC, will allow IRIS from time to time to offer and sell up to $125 million of common stock, preferred stock and debt securities. The terms of any offering
made pursuant to this filing will be established at the time of the offering. IRIS would use the proceeds from the sale of any securities for product development, to finance potential acquisitions and investments
in companies or products that are complementary to the Company's business if and when suitable opportunities arise, and for general corporate purposes.
The shelf registration statement filed today with the SEC has not yet become effective. No securities may be sold, nor may offers to buy be accepted, prior to the time the registration
statement becomes effective.
The Company also announced that Chairman and Chief Executive Officer César M. García will not be attending the 19th Annual Piper Jaffray Health Care Conference to avoid any
potential conflict with the Form S-3 registration rules governing company disclosures during the SEC review process. Mr. García was scheduled to present an overview of the Company at 1:30 p.m. Eastern time on
Tuesday, Nov. 27, 2007 at The Pierre Hotel in New York City.
THE COMPANY
IRIS International, Inc. (www.proiris.com), based in Chatsworth, Calif., is a leading developer, manufacturer, and marketer of medical
devices, diagnostic systems and consumables. The Iris Diagnostics Division (www.irisdiagnostics.com) is a leader in automated urinalysis technology with
systems in major medical institutions throughout the world. Iris Molecular Diagnostics develops innovative ultra-sensitive diagnostics and sample processing products with applications in the urinalysis, oncology and
infectious disease markets. The Company's Sample Processing business unit (formerly the StatSpin® subsidiary) (www.statspin.com), based in
Westwood, Mass., manufactures innovative centrifuges and blood analysis products.
SAFE HARBOR PROVISION
This news 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, 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; 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.
