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STAAR Surgical Generates $464,000 in Cash from Operations During Third Quarter
Date:11/2/2009

nths to date, global sales were $55.5 million, or $56.8 million on a constant currency basis, as compared to $56.7 million for the first nine months of 2008. Sales of the lower margin products declined by 17% or $3.0 million during the nine month period.
  • Gross profit margin was 54.3% versus 57.7% for the third quarter of 2008 due to a 500 basis point decline in international markets. The decline primarily resulted from a significant gross margin decline in Japan which was due to intense price competition during the quarter. Although prices were down, volumes in Japan were up 8%. Gross profit margin was favorably impacted by improved gross margins in the US due to higher average selling prices of IOLs and ICLs. For the nine month period gross profit margin was 55.6% versus 52.4% in 2008.
  • Total operating expenses declined by 7.4% to $11.0 million from $11.9 million reported for the third quarter of 2008. Operating expense as a percentage of total revenue dropped to 60.8% compared to 65.6% reported for the prior year quarter. For the nine months to date operating expenses have declined by 19.3%.

    • Recent Visian ICL Highlights

    • Global Visian ICL sales grew 5% during the third quarter of 2009 versus the third quarter of 2008 driven by a 12% increase in Visian Toric sales. Visian ICL units increased by 15% during the period. For the nine months to date Visian ICL sales have increased by 9%, while units increased by 23%.
    • International Visian ICL sales grew to $3.9 million, which is a 5% increase compared to the $3.7 million sales reported in the prior year third quarter. International Visian ICL units grew 19% from the year ago period and are up 30% year to date reflecting the increased underlying demand for the Visian products despite the global economic downturn.
    • U.S. Visian ICL sales increased by 4% during the third quarter. Visian ICL units were up 10% sequentially and down onl
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    SOURCE STAAR Surgical Company
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