STAAR Surgical Reports 33% Third Quarter Reve... (sales grew 63% and U.S. Visian ICL sales...)

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STAAR Surgical Reports 33% Third Quarter Revenue Growth

Date:10/28/2008

sales grew 63% and U.S. Visian ICL sales grew

by 24%

-- Visian Toric ICL sales have increased 70% for the first nine months of

2008

-- Market share of all refractive procedures in South Korea reaches 5%

-- U.S. consumer media coverage continues to expand awareness with

additional exposures during the quarter

-- The third party audit of the clinical data for the Toric ICL and the

compilation of the PMA Supplement has been completed

Cataract Highlights

-- Cataract sales continue to represent over 70% of total revenues

-- Global cataract sales increased by 28%

-- Sequential quarterly U.S. sales trends continue to improve

-- Seven-point plan to restore profitability to U.S. IOL business on track

STAAR Japan Highlights

-- Sales were $2.9 million for the quarter and $9.1 million for the first

nine months of the year, which is on track to meet or exceed the

original goal of $12 million for the year

-- Gross margin, profitability and cash usage are on track for the first

nine months of 2008

"We continued to successfully execute on our plan to restore operating profitability and progressed substantially toward our goals during the third quarter," said Barry G. Caldwell, President and CEO of STAAR Surgical. "Again during the third quarter we achieved significant improvement in all of the key metrics we laid out earlier this year against which investors could measure our progress. As in the second quarter, each of our sales reporting entities, including the U.S., generated year-over-year revenue increases, and we are ahead of our sales plan in Japan. Even without the contribution from Japan, which was not part of our operations last year, sales grew 12%. In the U.S., ICL sales grew 24% despite significant downward pressure on refractive procedures during the quarter, and the decline in our cataract sales was reduced to six percent
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STAAR Surgical Reports 33% Third Quarter Reve...(sales grew 63% and U.S. Visian ICL sales...),Health