ISTA Pharmaceuticals Achieves 2010 Revenue and Earnings Guidance

ISTA Pharmaceuticals, Inc. ISTA, announced today, during its previously announced guidance call, that it expects to achieve its 2010 net revenues guidance of $147 million to $167 million with anticipated, unaudited net revenues in the mid-$150 million range. The company also said it expects to exceed $1 million in unaudited net income in 2010, before any warrant expense. 2011 Financial Outlook in Detail net revenues will be approximately $175 million to $190 million. 2011 gross margins will be in the 75% to 77% range. 2011 R&D expenses will be 18% to 22% of net revenues. 2011 SG&A expenses will be 44% to 48% of net revenues. 2011 operating income will be $13 million to $16 million. 2011 net income will be $5 million to $8 million, or fully diluted earnings per share of $0.11 to $0.18, assuming 44 million fully diluted shares and excluding any mark-to-market adjustments relating to warrants. Year-end 2011 cash balance will be at least $90 million. This amount is after any debt repayments and includes reserves for XIBROM™/BROMDAY™ royalties.