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

upplier of acrylic IOLs has been unable to meet the high demand for the new KS IOL products.
  • IOL gross margins declined by 100 basis points primarily due to the increase of preloaded acrylic IOL sales that are replacing some of our higher gross margin silicone preloaded IOLs.
  • IOL sales in Japan represented 56% of all IOL revenues, a 25% increase in units.  In U.S. dollars, this reflects an 11% improvement or 32% in constant currency.
  • Preloaded IOLs were 78% of total IOL revenues as compared to 75% in the first quarter of 2012.
  • Overall, IOL sales in the Company's European market were strong, led by Italy, France, Latvia and Norway.
  • In the U.S., sales for IOLs declined, although Toric IOLs increased. 
  • The Company conducted nanoFLEX Toric IOL premarketing clinical trials during the quarter and the official product launch for Europe occurred during the ASCRS meeting.
  • The newly enhanced nanoFLEX II IOLs are planned to begin clinical trials during the second quarter.  The protocol is designed to measure near and intermediate visual results as well as rotational stability.
  • Project Comet Update

  • The manufacturing consolidation project continues to be on plan.
    The Company shipped the first U.S. manufactured ICLs during the first quarter of 2013.  Some Visian ICLs are now being supplied by product manufactured in Monrovia to approved markets outside the U.S.
  • The validations for Visian Toric ICLs are expected to be completed during the second quarter and the target is to ship the first TICLs at the end of the quarter.
  • All non-sterile preloaded silicone IOLs for Japan are shipping out of the U.S.  Sterile product is expected to be shipped from Monrovia during the second quarter.
  • Several key employees from Japan and Switzerland have agreed to relocate to Monrovia.
  • Key regulatory approval has been received to relocate the
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  • SOURCE STAAR Surgical Company
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