Let K be a positive compact operator on a Banach lattice. We prove that if either [K > or < K] is ideal irreducible, then[K > = < K] = L+(X) boolean AND {K}'. We also establish the Perron-Frobenius Theorem for such operators K. Finally, we apply our results to answer questions posed by Abramovich and Aliprantis (2002) and Braci c et al. (2010).