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STAAR Surgical Reports Continued Momentum During Third Quarter
Date:10/30/2013

MONROVIA, Calif., Oct. 30, 2013 /PRNewswire/ -- STAAR Surgical Company (NASDAQ: STAA), a leading developer, manufacturer and marketer of minimally invasive ophthalmic products, today reported revenue for the third quarter ended September 27, 2013 of $17.1 million, which represented 8% growth compared to $15.9 million reported for the third quarter of 2012.  The results included sales of $10.7 million of the Company's Visian ICL product portfolio and $5.3 million of its IOL products. Low margin Other Product sales increased to $1.1 million, a 51% increase over the prior year and 73% in constant currency.  The effect of foreign currency exchange during the third quarter versus the same quarter in the prior year reduced total sales by $1.0 million.  On a constant currency basis, revenues grew 14% during the third quarter of 2013 compared to the third quarter of 2012. 

"Visian ICL sales continued to show strong growth during the quarter while LASIK continues to be under downward pressure," said Barry Caldwell, President and CEO.  "ICLs with CentraFLOW technology continue to be the key growth driver for us in markets where it is available.  Key markets with CentraFLOW like Europe and the Middle East grew 42% and 39% respectively.  In Europe, Spain grew 23% year over year, reflecting the first quarter with a true direct to direct distribution model comparison. We are still in the early days of adoption of the technology in Korea, India and Argentina. Approximately 33,000 Visian ICLs with CentraFLOW have been successfully implanted since the introduction of the technology.  The CentraFLOW technology makes the procedure more convenient and cost effective for both the surgeon and the patient.  As a result of the momentum generated in the marketplace by our rapid cadence of new product developments, the Visian ICL continues to gain market s
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SOURCE STAAR Surgical Company
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