IRIDEX REPORTS THIRD QUARTER FINANCIAL RESULTS

Exhibit 99.1

For Immediate Release		Contact:		Theodore A. Boutacoff
				President and CEO
				650-940-4700

IRIDEX REPORTS THIRD QUARTER FINANCIAL RESULTS

     MOUNTAIN VIEW, CA, November 19, 2007—IRIDEX Corporation (NASDAQ: IRIX) today reported financial results for the quarter ended September 29, 2007. Revenue for the period was $13.6 million, a 47% increase from the $9.2 million reported for the third quarter of 2006. The Company’s net loss was $1.2 million or $0.15 per diluted share for the third quarter of 2007 compared with a loss of $1.1 million or a loss of $0.15 per diluted share in the third quarter of 2006. The prior year financial results do not include the AMS/Laserscope aesthetic acquisition completed on January 16, 2007.

     Theodore A. Boutacoff, President and CEO stated “While neither I nor the other members of the board of directors are satisfied with the Company’s recent performance, IRIDEX has taken numerous actions that we believe have put the Company back on track. These actions include:

	•		Strengthening the Company’s cash position via a private placement with net proceeds to the Company of $4.9 million. At the end of the third quarter, IRIDEX’ total cash position was $9.6 million (including $3.8 million restricted to support our bank term loan).
	•		Reducing operating expenses as a percentage of revenue to 53.3% during the third quarter of 2007 from 59.9% in the second quarter.
	•		Improving gross margins to 45.6% in the third quarter 2007 from 43.2% in the second quarter 2007.
	•		Reaching agreement with AMS on the major elements of the Laserscope acquisition. This agreement included approximately a $2.7 million reduction in the acquisition purchase price to be paid and decreased the final inventory to be purchased from AMS to $4.1 million from the originally agreed upon amount of up to $9.0 million.
	•		Successfully continuing the transfer of the Laserscope products we intend to manufacture into our Mountain View facility. Completion of this integration during our fourth quarter is expected to add to gross margin in subsequent quarters.
	•		Adding two experienced outside members, James B. Hawkins and William M. Moore, to our board of directors. Both have substantial operating experience with growing medical device companies and have already made contributions as board members.
	•		Expecting the receipt of an additional $4 million in cash from the settlement of the litigation with Synergetics. This litigation had contributed significantly to the Company’s expenses and losses during the prior periods. Under the settlement, Synergetics paid IRIDEX $2.5 million on April 16, 2007 and agreed to additional annual payments of $800,000 on each April 16th until 2012.”

     Mr. Boutacoff continued, “This has been a difficult year for IRIDEX, our employees and our shareholders. We have and will continue to take decisive actions to improve operations, to provide value to our customers and to create value for our shareholders. A key area of focus will be addressing remaining issues and challenges relating to our expanded aesthetics business following the Laserscope acquisition.”

     Revenue for the nine-month period ended September 29, 2007 was $41.4 million compared with the $26.9 million reported for the same period of 2006. Net loss for the nine-month per