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STAAR Surgical Provides Outlook on Third Quarter 2011 Revenue and Cash
Date:10/20/2011

MONROVIA, Calif., Oct. 20, 2011 /PRNewswire/ -- STAAR Surgical Company (NASDAQ: STAA) today provided an outlook on its financial results for the third quarter ended September 30, 2011. The Company is providing this information prior to the issuance of final results on Monday, October 24, 2011 in order to facilitate communications with its sales team, investors and other attendees of the American Association of Ophthalmology (AAO) Annual Meeting which begins tomorrow and continues through Tuesday in Orlando, FL.  All preliminary financial information is unaudited and the normal review by the Company's outside auditors is not yet completed.

Revenue for the third quarter is expected to be $15.3 million, which is 16% higher than the revenue generated in the third quarter of 2010.  The growth was driven by a 31% increase in Visian ICL sales.  Gross margin percentage continued to expand from both the prior year and prior quarter as a result of increased ICL mix and improved margins in both ICLs and IOLs.  The Company estimates that it generated approximately $2.5 million in cash from operations during the third quarter and will end the quarter with approximately $16.9 million in cash on its balance sheet, which is a record high for the Company.  

"The 16% revenue growth fueled by a 31% increase in Visian ICL sales marks another terrific result from the execution of our strategy to focus on high margin Visian ICL products," said Barry G. Caldwell, President and CEO.  "With the expanded range of treatments available with our V4b ICL launched in European markets, we can now effectively compete for all LASIK procedures as we saw with the overall continued strong acceptance and momentum of ICLs during the third quarter.  In October we began shipments of the next generation V4c with new CentraFLOW™ technology utilizing the KS-AquaPORT™
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SOURCE STAAR Surgical Company
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