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STAAR Surgical Reports 33% Third Quarter Revenue Growth
Date:10/28/2008

Visian ICL(R) Sales Grow 52% Worldwide, 24% in U.S.

Gross Margin Increases to 57.7%

Cost Reduction Efforts Continue to Generate Results

Net Loss Reduced by 41%: Cash Usage Declines by 29% Company Completes Clinical Data Step for Visian Toric ICL Application to

FDA

MONROVIA, Calif., Oct. 28 /PRNewswire-FirstCall/ -- STAAR Surgical Company (Nasdaq: STAA), a leading developer, manufacturer and marketer of minimally invasive ophthalmic products, today reported continued strong progress during its third quarter ended September 26, 2008. The financial results for the period include the operating performance of STAAR Japan, which STAAR acquired at the beginning of fiscal year 2008.

Third Quarter Highlights

Financial Highlights

-- Despite the global economic downturn, total sales grew 33%

year-over-year to a record third quarter level $18.1 million and grew

12% excluding Japan

-- Total international sales grew 50% year-over-year

-- U.S. sales recorded a second consecutive year-over-year increase

-- Gross margins improved 800 basis points from the year ago period and

190 basis points from the second quarter of this year to 57.7%;

excluding Japan 55.1%

-- Operating expenses declined to 65.6% of sales from 76.2% in the third

quarter of 2007

-- Year-over-year operating loss reduced by 61% and grew 65% excluding

Japan

-- All reporting entities achieved improvement on operating income line

-- Cash used in operations during the quarter declined 29% year-over-year

Visian ICL Highlights

-- International Visian ICL
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SOURCE STAAR Surgical Company
Copyright©2008 PR Newswire.
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