IRIS International Inc. (IRIS, Financial) filed Annual Report for the period ended 2010-12-31.
Iris International Inc. has a market cap of $156.7 million; its shares were traded at around $8.64 with a P/E ratio of 32 and P/S ratio of 1.5. Iris International Inc. had an annual average earning growth of 14.1% over the past 5 years.
Currently, we participate primarily in the urinalysis segment of the IVD market which we estimate is approximately $650 million. With our expansion into molecular diagnostics, we have the opportunity to participate in the personalized medicine market. PricewaterhouseCoopers estimates the market for esoteric services and test sales was $11 billion in 2009, including $3 billion related to the molecular diagnostics market with a 15% growth rate. We believe we are well positioned to experience growth in this segment with our focus on a personalized medicine test menu at Arista Molecular, which will include our proprietary molecular tests utilizing our NADiA technology platform.
Of the $650 million urinalysis segment, urine chemistry represented approximately $490 million and automated urine microscopy represented approximately $160 million, but growing at a much faster rate than the other urinalysis sub-segments. We estimate there are 13,200 sites performing greater than 40 microscopy tests per day on a global basis including approximately 6,000 in China. These higher volume sites represent a significant opportunity for us, because they would benefit from the automation and consolidation of their urine chemistry and microscopy procedures. We believe the full automation and integration of results brought by the iQ product platform has accelerated the adoption of automated urine microscopy as a routine test. We believe approximately 40% of these targeted domestic sites continue to perform manual microscopy procedures. The penetration of automated urine microscopy analyzers varies significantly from country to country.
With the advancement in genomics and proteomics, there is an accelerating offering of better targeted diagnostics and therapeutics to aid clinicians in patient management, which is improving health outcomes. PricewaterhouseCoopers estimates the market for esoteric services and test sales addressing this segment was $11 billion in 2009 and is expected to grow to $21 billion in 2015 with an 11% annual growth rate.
Although testing is performed on many different types of samples, most tests are performed on blood specimens that require separation in a centrifuge. The centrifuge market comprises five segments including non-refrigerated bench-top, refrigerated bench-top, floor, high-speed and ultra-centrifuges. According to Strategic Directions International, the worldwide market for sample processing centrifuges in 2010 is estimated at $660 million, of which the market for non-refrigerated bench-top centrifuges, the market segment we serve, is estimated at approximately $100 million. To improve laboratory productivity and sample turnaround time, the current trend is toward smaller and faster bench-top models and away from large capacity floor models which have longer processing time per batch. This represents a significant opportunity for our Express line of bench-top centrifuges.
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Iris International Inc. has a market cap of $156.7 million; its shares were traded at around $8.64 with a P/E ratio of 32 and P/S ratio of 1.5. Iris International Inc. had an annual average earning growth of 14.1% over the past 5 years.
Highlight of Business Operations:
The aggregate market value of the shares of common stock held by non-affiliates of the Registrant on March 7, 2011 was approximately $166 million based upon the closing price of $9.30 per share of its common stock as reported on the NASDAQ Global Market on such date.Currently, we participate primarily in the urinalysis segment of the IVD market which we estimate is approximately $650 million. With our expansion into molecular diagnostics, we have the opportunity to participate in the personalized medicine market. PricewaterhouseCoopers estimates the market for esoteric services and test sales was $11 billion in 2009, including $3 billion related to the molecular diagnostics market with a 15% growth rate. We believe we are well positioned to experience growth in this segment with our focus on a personalized medicine test menu at Arista Molecular, which will include our proprietary molecular tests utilizing our NADiA technology platform.
Of the $650 million urinalysis segment, urine chemistry represented approximately $490 million and automated urine microscopy represented approximately $160 million, but growing at a much faster rate than the other urinalysis sub-segments. We estimate there are 13,200 sites performing greater than 40 microscopy tests per day on a global basis including approximately 6,000 in China. These higher volume sites represent a significant opportunity for us, because they would benefit from the automation and consolidation of their urine chemistry and microscopy procedures. We believe the full automation and integration of results brought by the iQ product platform has accelerated the adoption of automated urine microscopy as a routine test. We believe approximately 40% of these targeted domestic sites continue to perform manual microscopy procedures. The penetration of automated urine microscopy analyzers varies significantly from country to country.
With the advancement in genomics and proteomics, there is an accelerating offering of better targeted diagnostics and therapeutics to aid clinicians in patient management, which is improving health outcomes. PricewaterhouseCoopers estimates the market for esoteric services and test sales addressing this segment was $11 billion in 2009 and is expected to grow to $21 billion in 2015 with an 11% annual growth rate.
Although testing is performed on many different types of samples, most tests are performed on blood specimens that require separation in a centrifuge. The centrifuge market comprises five segments including non-refrigerated bench-top, refrigerated bench-top, floor, high-speed and ultra-centrifuges. According to Strategic Directions International, the worldwide market for sample processing centrifuges in 2010 is estimated at $660 million, of which the market for non-refrigerated bench-top centrifuges, the market segment we serve, is estimated at approximately $100 million. To improve laboratory productivity and sample turnaround time, the current trend is toward smaller and faster bench-top models and away from large capacity floor models which have longer processing time per batch. This represents a significant opportunity for our Express line of bench-top centrifuges.
Read the The complete Report
