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STAAR Surgical Reports 14% Fourth Quarter Revenue Growth
Date:3/16/2009

d CEO. "For the full year, we grew revenue 26%, increased gross margin by more than 600 basis points excluding acquisition accounting charges and reduced cash used for operating activities by $6.4 million or 57%, excluding Japan. During the fourth quarter, we grew sales by 14%, reduced our cash burn from operations by approximately 81%, excluding Japan, to approximately $500,000 and implemented additional programs to enhance our profitability prospects in 2009. Though it is data for only the first two months of 2009, and we cannot be certain that current trends will continue, we have generated operating profits before non-cash charges during this period."

"At year's end we implemented a new U.S. sales force structure designed to maximize our Collamer material positioning for both ICLs and IOLs, as well as improve efficiencies. We expect that the implementation of this structure should yield us approximately $1 million in additional cost savings during 2009."

"Gross margin increased 700 basis points from the fourth quarter of 2007, and outside of Japan and excluding special charges we decreased year over year operating expenses by sixteen percent or $1.8 million," added Mr. Caldwell. "Our global Visian ICL fourth quarter sales declined slightly compared to the year ago period due primarily to two factors. First, we significantly reduced the practice of taking higher volume bulk sales during 2008 in the U.S. which was a larger factor in comparison to the fourth quarter of 2007. Also during the fourth quarter, our international distributors were all making efforts to reduce their inventory levels in this weakened economy as compared to their historical year-end inventory build. Aside from these two developments, our Visian ICL sales momentum remains strong and through the first two months both global and U.S. Visian ICL sales have grown in excess of 25% for the first quarter of 2009."

"We also continued to m
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SOURCE STAAR Surgical Company
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