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

Panel.  A date has not been established and the Company is responding to questions from the FDA and preparing the information needed for the Panel Package necessary for that meeting to occur.

Regional ICL UpdatesEurope, Middle East, Africa (EMEA)

  • Visian ICL revenues grew by 47% while units increased 30% and price increased 13%.
  • Europe increased 52% in revenue due to gains from the CentraFLOW technology, and new sales personnel hired in 2012.
  • Spain grew 127% driven by the conversion from a distributor sales model to a direct model which occurred at the end of second quarter 2012.  This provided end customer pricing for the market.  Visian ICL unit growth was 100% for the quarter.  During the second quarter of 2012 the Company credited the past distributor for their inventory in the market.
  • Strong growth was also seen in France +41%, Italy +35% and the UK +107%.
  • The Middle East revenues grew 37% after a very strong first quarter with the release of the Visian ICL with CentraFLOW.
  • Latin America grew 39% in revenue. Approval of the ICL with CentraFLOW in Argentina allowed the first orders to be placed late in the quarter.
  • Asia Pacific (APAC)

  • APAC grew 29% in revenue while units increased 28% and price increased 1%.
  • China returned to more historical growth rates as revenues increased 77% while units increased 82%.  The Company believes that the impact of the negative press on LASIK one year ago may now be subsiding. 
  • Korea grew 7% as the distributor prepared for the first sales of the Visian CentraFLOW technology which was approved in late June with the official launch at the end of July.
  • Japan grew 12% in revenue with unit growth at 17% as revenue was negatively impacted by currency and price.
  • India grew 20% in revenue.  Visian CentraFLOW was launched during a key meeting in early June and reg
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  • SOURCE STAAR Surgical Company
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