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

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"We reduced operating cash burn by approximately 29% compared to the third quarter of last year and reduced U.S. operational spending by 20% as well," added Mr. Caldwell. "During the quarter our team identified future opportunities to reduce spending and build margins within our international operations. As a result, international operating costs were down 11% compared to the second quarter of this year. In addition, we remain confident in our ability to achieve our operating expense targets in Japan. Finally, our plan is to generate overall operating income in the current fourth quarter," Mr. Caldwell continued.

In addition, the Company earlier in the month completed all the clinical data work for the re-submission of its application with the FDA for the Visian Toric ICL, a toric implantable Collamer(R) lens designed to treat both nearsightedness and astigmatism. "We are pleased that the certified clinical trial module resulting from this effort confirmed the scientific validity and integrity of the data and the excellent clinical results of this product. Beyond that result, the comprehensive reexamination of both study data and our procedures as a sponsor of clinical studies has provided an opportunity to improve and enhance our ability to oversee clinical projects in the future," said Mr. Caldwell. "The task required the coordination and cooperation of several departments within the Company along with the third party audit firm. These efforts were led by John Santos, our acting V.P. of Clinical Affairs, who deserves special recognition for this successful completion."

Financial Highlights for the Third Quarter and Nine Months Ended September 26, 2008

Total product sales in the quarter were $18.1 million which is the highest level of sales for any third quarter achieved by the Company in its 26 years of operation. These sales represented a 33% increase over the $13.6 million reported for the third quarter of 2007. The increase in sal
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SOURCE STAAR Surgical Company
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