STAAR Surgical Generates $464,000 in Cash from Operations During Thi... (ted by increased consignments to new cus...)

STAAR Surgical Generates $464,000 in Cash from Operations During Third Quarter

Date:11/2/2009

ted by increased consignments to new customers.

On October 24, the Collamer Accommodating Study Team (CAST), which formed in late 2008, reported preliminary assessments reported surpassing 300 patient eye implants with the nanoFLEX Collamer Aspheric Single Piece IOL. The data presented provided compelling near vision results when compared with leading standard IOLs. In addition, the data provided encouraging near vision results when compared with premium IOLs and superior intermediate vision results when compared to all IOLs. Meanwhile, the Company's product development team is engineering some minor design changes for the nanoFLEX for the purpose of moving to the second phase of the CAST project. Members will evaluate these design changes to determine if improvements upon current accommodation assessments can be achieved.

STAAR is expanding the marketing message on the effectiveness of nanoFLEX in the standard IOL channel, the largest volume channel of all IOLs sold today.

"Our third quarter performance illustrates the continued successful execution in several areas of our overall strategy," said Barry G. Caldwell, President and CEO. "While we have focused sales resources on higher margin products, and our top line was flat versus year ago levels as a result, we generated the most cash from operating activities for any quarter since 2003. We remain vigilant about controlling costs and in the quarter reduced operation expenses by $0.9 million. We still have lots of work to do. One area requiring immediate attention is our gross margins in our international markets. Additional focus will be placed in this area as we finish the year and head into 2010."

"Since we released the nanoFLEX Collamer Aspheric IOL combined with the nanoPOINT Injector System with NTIOL pricing status in the second quarter, we've begun to see increased market interest and sales from this strategically important product line. Our sales
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SOURCE STAAR Surgical Company
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STAAR Surgical Generates $464,000 in Cash from Operations During Thi...(ted by increased consignments to new cus...),Health