STAAR Surgical Reports 33% Third Quarter Reve... (eswas led by strong international produc...)

STAAR Surgical Reports 33% Third Quarter Revenue Growth

Date:10/28/2008

es was led by strong international product sales, which grew 50% during the quarter and included $2.9 million in sales from STAAR Japan. Excluding Japan, total product sales grew 12%. Changes in currency accounted for $542,000 of the increase in sales for the quarter. Total U.S. sales for the third quarter were $4.8 million, up slightly over the same period last year. U.S. ICL sales were $1.3 million, up 24% over $1.1 million in the comparable period of 2007.

Total product sales for the first nine months of 2008 were $56.7 million, a 31% increase over the $43.5 million reported for the first nine months of 2007. The increase in sales was led by strong international product sales, which grew 48% and included $9.1 million in sales from STAAR Japan. Excluding Japan, total product sales grew 10%. The changes in currency accounted for $2.4 million of the $3.3 million increase in sales for the nine month period. Total U.S. sales for the first nine months of 2008 were $14.5 million, down four percent from $15.0 million in the same period last year. U.S. ICL sales were $3.8 million, up 24% over $3.1 million in the comparable period of 2007.

Gross profit margin for the third quarter was 57.7%, compared to 49.7% in the third quarter of 2007. Gross profit margin for the first nine months of 2008 was 52.4%, compared with 49% in the first nine months of 2007. The significant improvement in gross profit margin during the third quarter is due to increased sales of ICLs in the U.S., TICL sales internationally and cataract product sales in Japan, which yield higher average selling prices than in other countries. Each one of STAAR's reporting sales entities increased its gross margin percentage during the third quarter of 2008 compared to the same period of 2007. Gross margin, during the first nine months of 2008, was reduced by non-cash charges recorded when the inventory acquired in the STAAR Japan acquisition was stepped up in value in accordance with purchase accoun
'/>"/>

SOURCE STAAR Surgical Company
Copyright©2008 PR Newswire.
All rights reserved

0

GOOD

Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18
Related medicine news :

1. STAAR Surgical to Present at the Noble Financial Equity Conference
2. STAAR Surgicals Collamer(R) IOL and Elastimide(R) IOL Each Recognized with New Technology Intraocular Lens Classification
3. STAAR Surgicals LASIK Alternative Expands U.S. Market Gains
4. STAAR Surgical Reports Solid First Quarter Progress
5. STAAR Surgical Announces First Quarter 2008 Earnings Release Date and Conference Call
6. STAAR Surgical Plans Major Presence at ASCRS
7. STAAR Surgical Reports Fourth Quarter and Year End Results
8. STAAR Surgicals Visian ICL Procedure Performed Live on NBCs Today show
9. STAAR Surgical Announces Fourth Quarter and Full Year 2007 Earnings Release Date and Conference Call
10. STAAR Surgical to Present at the Tenth Annual Needham Growth Conference
11. STAAR Surgical Completes $5M Debt Financing for Purchase of Japanese Joint Venture

Post Your Comments:

STAAR Surgical Reports 33% Third Quarter Reve...(eswas led by strong international produc...),Health