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STAAR Surgical Reports Strong First Quarter 2013 Financial Results

  • Strong growth was also seen in Italy +63%, France +35% and Germany +23%.
  • Following the introduction of CentraFLOW in the Middle East, sales grew 94% during the quarter.
  • Latin America grew 25% in revenue. Additional ICL product approvals in this market, though difficult to predict, are expected to expand the growth in this market.
  • Asia Pacific

  • APAC grew 11% in revenue during the quarter.
  • Korea and China both grew 7% in revenue during the quarter.  Visian CentraFLOW is expected to be approved in Korea approximately mid-year.
  • Japan grew 14% in revenue, however unit growth was 34% as revenue was negatively impacted by currency and price.
  • India grew 22% in revenue.  Visian CentraFLOW is expected to be approved approximately mid-year.
  • North America

  • Sales in the U.S. grew 12% while units grew 14%.
  • LCA-Vision, a major corporate provider of LASIK procedures, reported their refractive procedures declined 22% in the U.S. during Q1 and their belief that overall refractive procedures declined by 12% to 16% in the U.S. for the quarter.
  • Abbott reported a decline in their global refractive sales driven by a continued soft refractive market.
  • Novartis reported 2% growth in their global refractive sales.
  • Recent Intraocular Lens (IOL) Highlights 

  • First quarter IOL sales were $6.3 million, essentially flat to the first quarter of 2012.  The negative impact of foreign exchange was $646,000 for IOLs.
    Without the impact of foreign exchange, global IOL revenue would have grown by approximately 10% on a constant currency basis.
  • IOLs represented 35% of total sales in the first quarter of 2013, compared to 41% of total sales in the same period of the prior year.
  • The Company ended the quarter with approximately $900,000 in backorders from European customers.  The Company's s

  • SOURCE STAAR Surgical Company
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