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STAAR Surgical Reports Strong Second Quarter Financial Results
Date:7/31/2013

MONROVIA, Calif., July 31, 2013 /PRNewswire/ -- STAAR Surgical Company (NASDAQ: STAA), a leading developer, manufacturer and marketer of minimally invasive ophthalmic products, today reported revenue for the second quarter ended June 28, 2013 of $18.2 million, which represented 14% growth compared to $15.9 million reported for the second quarter of 2012.  The results included sales of $11.3 million of the Company's Visian ICL product portfolio and $5.9 million of its IOL products. In addition, low margin Other Product sales increased to $1.0 million.  The effect of foreign currency exchange during the quarter versus prior year second quarter reduced total sales by $1.0 million.  On a constant currency basis revenues grew 20% during the second quarter of 2013 compared to the second quarter of 2012.

"We delivered a second consecutive quarter of solid revenue growth with some very positive trends that we believe can be built on over the next several quarters," said Barry Caldwell, President and CEO.  "In our focused major markets, our Visian ICL continues to gain share over LASIK.  We have now successfully implanted over 20,000 ICLs with CentraFLOW and this technology continues to be a key growth driver.  During June we received approval of the ICL with CentraFLOW in Argentina and Korea. The ICL with CentraFLOW launch events took place this month in Korea and also in India where we now expect to receive the final product approval during the third quarter.  Based upon our experience in Europe, the wider approval range of the Visian ICL with CentraFLOW opens up the refractive market for increased market share gains.""We saw good growth in ICL revenues from all three of our regions despite the continued downward pressure on LASIK," added Mr. Caldwell.  "Our European region grew 47% during the quarter driven by the new CentraFLOW technolo
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SOURCE STAAR Surgical Company
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