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STAAR Surgical Reports First Quarterly Profit from Continuing Operations Since 2000
Date:5/3/2011

sition and ended the first quarter with $10.4 million in cash."

"Despite the extremely challenging operating environment faced by our colleagues in Japan, our STAAR Japan operations generated net income for the first quarter, which was the highest quarterly profit generated by these operations since 1999," continued Mr. Caldwell.  "Our team in Japan performed heroically to keep the business up and running.  We congratulate our President of STAAR Japan, Isamu Kamijo, and all our employees in Japan, for their dedication and persistence in meeting our customer needs during these difficult days."  

"The first quarter was a strong start to 2011.  We believe we are on target to achieve our financial targets for the year, specifically driving double digit revenue growth, ICL sales growth of 25%, gross margin expansion and continued profitability.  Our results through four months indicate our trends are on target.  Our recent CE Mark approvals for the Visian ICL V4c and the nanoFLEX IOL have positioned us well for expansion in Europe and other key countries outside the U.S.   We will remain focused on expanding our growth in the key markets around the world," Mr. Caldwell concluded.

Recent Visian Implantable Collamer® Lens (ICL) Highlights

  • First quarter Visian ICL sales set another record of $6.9 million, 18% above the $5.9 million reported for the first quarter of 2010.  The revenue growth was attributable to a 17% increase in total unit volume during the quarter.  
  • International revenues of the Visian ICL increased 26%, driven by a 34% increase in Toric ICLs.
  • The Visian Toric ICL, which is available in approximately 45 markets, accounted for 54% of total ICL sales in those markets during the first quarter of 2011.  By comparison, Toric ICLs represented 48% of total ICL sales during the first quarter of 2010.
  • Shipments of the expanded range Visian V4b
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  • SOURCE STAAR Surgical Company
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