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STAAR Surgical Generates Cash From Operations During Second Quarter
Date:8/3/2009

as 55.8%, unchanged from the second quarter of 2008.
  • Operating expenses declined by 16% to $11.3 million from $13.5 million reported for the second quarter of 2008. Operating expense as a percentage of total revenue dropped to 59% compared to 65% reported for the prior year quarter.
  • Operating loss improved by $1.3 million, which is a 67% decrease from the $2.0 million loss reported in the second quarter of 2008.
  • EBITDA for the second quarter was $360,000 and year to date was $136,000 reflecting the first positive EBITDA generated for any quarterly period by the Company since the first quarter of 2003.
  • Recent Visian ICL Highlights

    • Global Visian ICL units grew 29% during the second quarter of 2009 versus the second quarter of 2008. Sequentially, global Visian ICL units increased by 21% from the first quarter of 2009 and year to date global Visian ICL units are up 28%.
    • International Visian ICL sales grew to $4.4 million, which is a 12% increase compared to the $4.0 million sales reported in the prior year second quarter. International Visian ICL units grew 42% from the year ago period and are up 35% year to date reflecting the increased underlying demand for the Visian products despite the global economic downturn. Revenue growth was negatively impacted by the weakness of international currencies, primarily the Euro, versus the dollar.
    • U.S. Visian ICL units were down 18% during the second quarter versus an estimated 45% decline in LASIK procedures in the U.S. during the second quarter which reflects a continued growth in market share. Year to date, U.S. Visian ICL units were essentially flat compared with the first six months of 2008 compared to an estimated 40% decline in LASIK procedures.
    • On July 17, the U.S. Food and Drug Administration (FDA) Division of Bioresearch Monitoring informed t
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    SOURCE STAAR Surgical Company
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