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

year as a result:  
  • $444,000 in sales of inventory to the new distributor during the quarter were at lower than normal margins. This negatively impacted total gross profit margin percentage by 800 basis points.
  • One-time costs associated with closing our operations and completing the deal structure were $118,000.
  • The Company anticipates minimal revenue impact from this conversion and a reduction in expenses of approximately $500,000 over the remainder of the year.
  • Income from continuing operations was $300,000, or $0.01 per share, compared with a loss from continuing operations in the first quarter a year ago of $636,000, or $0.02 per share.  
  • For the first quarter of 2010, income from discontinued operations was $4.2 million, reflecting the gain on the sale of the Company's interests in Domilens GmbH, its German subsidiary, in March 2010.
  • Net income in the first quarter of 2011 was $300,000, or $0.01 per share.  The net income reported for the first quarter of 2010 totaling $3.5 million, or $0.10 per share, reflected the gain on the sale of Domilens.
  • Cash and cash equivalents and restricted cash totaled $10,354,000 at April 1, 2011 compared with $9,509,000 at December 31, 2010.  STAAR generated cash from operating activities of $550,000 during the first quarter of 2011.  

  • Information provided for the first four months of 2011 is preliminary and not necessarily indicative of final second quarter results.

    Conference CallThe Company will host a conference call and webcast on Tuesday, May 3, 2011 at 4:30 p.m. Eastern / 1:30 p.m. Pacific to discuss the Company's first quarter financial results, and recent corporate developments. The dial-in number for the conference call is 877-941-2930 for domestic participants and 480-629-9690 for international participants.

    A taped replay of the conference call will also be available beginning approximately one hou
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    SOURCE STAAR Surgical Company
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