CHATSWORTH, Calif., May 21, 2009 (GLOBE NEWSWIRE) -- IRIS International, Inc. (Nasdaq:IRIS), a leading manufacturer of urinalysis systems and consumables for use in hospitals and commercial laboratories worldwide, today announced that following the validation of previously announced design improvements, it has resumed full-scale shipments of its new iChem(r)Velocity(tm) Automated Chemistry Analyzers to the International Market.
"I am pleased to report that, following our previously announced decision to delay international shipments of our iChem(r)Velocity(tm) in order to implement certain product improvements based on initial customer feedback, all improvements have been completed and following long term reliability testing and a thorough in-house validation process, we have re-initiated full-scale shipments of the iChem(r)Velocity(tm) and iRICELL(tm) integrated workstations to the international marketplace, beginning with the shipment of $1.2 million systems backlog carried over from the first quarter ended March 31," stated Cesar Garcia, Chairman and Chief Executive Officer.
"We are confident that these design improvements, implemented with the support and cooperation of our international distributors, have resulted in a superior performing product," Mr. Garcia said. "We are continuing to see strong international demand for the iChem(r)Velocity(tm) and iRICELL(tm), as evidenced by the growing backlog, and we remain on track for the U.S. launch," he added.
About IRIS International
IRIS International 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 urine microscopy systems, with an installed base of more than 2,230 systems in more than 50 countries. For more information 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.