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Press Releases ---------------------------------------------------------------- FOR IMMEDIATE RELEASE
IRIS RECEIVES MAJOR ORDER FOR ITS iQ®200 SYSTEMS AND OTHER INSTRUMENTS Largest Order in Company's History as a Prominent National Healthcare Provider Implements IRIS Urinalysis Technology and Services CHATSWORTH, Calif., Dec. 21, 2006 — IRIS International, Inc. (NASDAQ: IRIS) today announced that the Iris Diagnostics Division has received its single largest dollar value order to date for its iQ®200 systems and other instruments, originating from a prominent national hospital chain that will implement IRIS' automated urinalysis and body fluids testing. The initial order consists of 17 iQ®200 SPRINT Urine Microscopy and Chemistry Systems with Body Fluids Modules as well as a number of stand-alone AX-4280 Automated Urine Chemistry Analyzers. "This is the Company's largest dollar value order to date and represents a major milestone," stated IRIS President and Chief Executive Officer César García. "This order provides IRIS with a major presence within a prominent national healthcare provider, and ensures a significant new source of recurring revenues from sales of consumables and service contracts for years to come, as well as potential additional instrument sales." Mr. García continued, "This is one of the multi-site agreements anticipated in providing our financial guidance for 2006. When combined with our recent LabCorp agreement, the order represents a significant step forward for the Company in targeting higher volume hospital and clinical reference labs as part of our new market segmentation initiative. We expect to deliver all systems in the fourth quarter of 2006 and first quarter of 2007." ABOUT IRIS IRIS International, Inc. (http://www.proiris.com), based in Chatsworth, Calif., is a leading developer, manufacturer and marketer of medical devices, diagnostics systems and consumables. The Company's IRIS Diagnostics division (www.irisdiagnostics.com) is a leader in automated urinalysis technology with systems in major medical institutions throughout the world.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. Advanced Digital Imaging Research, LLC (ADIR) (www.adires.com), based near Houston, Texas, is the Company's imaging research and development subsidiary. The IRIS Molecular Diagnostics (IMD) Subsidiary develops innovative ultra-sensitive diagnostics and sample processing products with applications in the urinalysis, oncology and infectious disease markets. 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. |
