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STAAR Surgical Reports Strong First Quarter 2013 Financial Results
Date:5/1/2013

ace in refractive surgery seems to have changed more in the past six months than in previous years.  LASIK surgery seems to be facing more difficult negative pressure with most market data showing that LASIK procedures are declining in major markets.  Lenses which attempt to compete for refractive procedure share which are in the anterior segment of the eye all seem to be facing new clinical challenges.  The Visian ICL sits behind the iris in the posterior segment unlike those competitive lenses.  Also, our new Visian ICL CentraFLOW™ technology in Europe has been a key driver of our success in that marketplace," added Mr. Caldwell.

"Total IOL sales in the first quarter of 2013 were $6.3 million, relatively flat with the comparable period a year ago.  On a constant currency basis, IOL sales increased 10%, reflecting the strength of our recently launched KS-SP preloaded acrylic IOLs.  However, the negative impact of foreign exchange, which totaled $750,000 for the quarter, was $646,000 for IOLs alone.  Japan represented 56% of all IOL sales, an increase of 25% in total unit sales and a 32% revenue increase without the negative impact of foreign currency exchange," said Mr. Caldwell. "Backorders of our preloaded acrylic IOLs in Europe were $900,000 and reflect both the strength of the recently launched KS-SP and the supply constraints we continue to experience from a third party supplier. This backorder position is expected to be a limiting factor to our IOL sales for the entire year and we are evaluating potential options to meet this demand.  During the ASCRS meeting a few weeks ago we formally launched our new nanoFLEX™ Toric IOL for Europe and would expect to see sales during the second quarter."

"Many things went right for us both from an operational and commercial perspective during the first quarter.  We are well positioned in two large markets – Refractive and Cataract - and have a p
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SOURCE STAAR Surgical Company
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