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STAAR Surgical Reports 19% Revenue Growth Second Quarter
Date:8/2/2011

MONROVIA, Calif., Aug. 2, 2011 /PRNewswire/ -- STAAR Surgical Company (NASDAQ: STAA), a leading developer, manufacturer and marketer of minimally invasive ophthalmic products, today reported strong financial results for the second quarter ended July 1, 2011.  Revenue for the quarter grew by 19% or $2.6 million over the second quarter of 2010 to $16.3 million, fueled by a 51% mix of Visian ICL sales.  Sales of Visian ICLs increased 41%, setting another quarterly record with $8.3 million in sales.  The increasingly higher mix of Visian ICLs pushed gross margin up 320 basis points from second quarter of 2010 to 66.8%.  Net income totaled $862,000, or $0.02 per share, compared with a net loss of $1.6 million, or $0.05 per share, in the second quarter of 2010.  This represents a $2.5 million net income improvement over prior year.  It also marks the first time the Company has reported consecutive quarters of profitability since 1999.  Cash, cash equivalents and restricted cash at July 1, 2011 increased to $13.1 million from $10.4 million at the end of the first quarter as the Company generated $2.4 million in cash from operations.  

"We continued to benefit from sound execution of our strategy to focus on the growth of ICL and IOL core products," said Barry G. Caldwell, President and CEO.  "Our global sales momentum increased during the second quarter, resulting in strong and steady growth in revenue from our Visian ICL and premium IOL product lines, a 13 year high in gross profit margin, increasing net income and solid cash generation.  Revenues from the Visian ICL grew 41% and, at $8.3 million, established a new quarterly record that exceeded the previous high by 20%.  The roll-out of the Visian ICL V4b in Europe and other select countries has gone well, and we are now poised for full launch of the V4c during September. 
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SOURCE STAAR Surgical Company
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Related medicine technology :

1. STAAR Surgical Reports First Quarterly Profit from Continuing Operations Since 2000
2. STAAR Surgicals nanoFLEX™ Collamer® IOL Receives CE Mark Approval
3. STAAR Surgical Launches Second Phase of Visian ICL Direct-to-Consumer Advertising Campaign
4. STAAR Surgical Enters Into Distribution Agreement With Ellex in Australia
5. STAAR Surgical Announces Fourth Quarter 2010 Revenue Expected to Exceed $14.2 Million
6. STAAR Surgicals Visian® ICL Surpasses 200,000 Implants
7. STAAR Surgical Reports Continued Double Digit Core Revenue Growth
8. STAAR Surgical Launches New Visian ICL™ Product Line Extensions at ESCRS
9. STAAR Surgical Generates $464,000 in Cash from Operations During Third Quarter
10. STAAR Surgical Announces Third Quarter 2009 Earnings Release Date and Conference Call
11. STAAR Surgical to Present at the 20th Annual Oppenheimer Healthcare Conference in New York
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