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

d its gross margin percentage for the year as compared to 2007.

General and administrative expenses for the quarter were $4.3 million, representing a 27% increase over the $3.4 million incurred in the fourth quarter of 2007. The increase was due to incremental G&A costs of STAAR Japan of $1.1 million. Otherwise, G&A expenses were flat to Q4 of 2007. General and administrative expenses for 2008 were $15.7 million, representing a 21% increase over the $13.0 million incurred in 2007. The increase resulted from incremental G&A costs of STAAR Japan of $3.7 million, partially offset by decreased costs in the U.S.

Marketing and selling expenses for the fourth quarter were $6.4 million, a one percent decrease from the fourth quarter of 2007. The decrease was due to lower expenses in the U.S., Europe and Australia offset by the incremental costs of STAAR Japan of $1.2 million. Marketing and selling expenses for 2008 were $27.1 million (including $4.1 million for Japan), representing a 14% increase over the $23.7 million incurred in 2007. Changes in currency had a $295,000 favorable effect on marketing and selling expenses for the quarter and a $560,000 unfavorable effect for the full year 2008.

Research and development expenses for the quarter were $2.0 million, including $637,000 for Japan, which represents a 15% increase over the $1.7 million incurred in the fourth quarter of 2007. Research and development expenses for 2008 were $7.9 million, which represents an 18% increase over the $6.7 million incurred in 2007. The increase is due to the incremental costs of STAAR Japan ($2.2 million), partially offset by cost reductions in the U.S.

Included in other operating expenses for the quarter is a $1 million non-cash expense associated with the impairment of certain patents which have been determined to have minimal fair value and a reserve of $4.9 million for the jury verdict in favo
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SOURCE STAAR Surgical Company
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