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

g Consolidation ExtendedThe Company updated its metrics as follows and will continue to report and update on each of the 2013 metrics quarterly:

  • Total revenue growth in the range of 12 to 14%, up from an original metric of 8 to 10%. 
  • Gross margin expansion by a minimum of 250 bps for the year.
  • Profitable on a GAAP basis each quarter.
  • Continuous quarterly progress toward the full implementation of manufacturing consolidation from Japan and Switzerland facilities to the U.S.  The timetable for complete implementation of this program has been extended to the first half of 2014.  During the month of December the Company expects to have 100% of all IOL production, two thirds of ICLs and one third of TICLs manufactured in the U.S.
  • Conference CallThe Company will host a conference call and video webcast today, July 31, 2013 at 4:30 p.m. Eastern / 1:30 p.m. Pacific to discuss the Company's second quarter 2013 financial results and recent corporate developments. The dial-in number for the conference call is 877-703-6105 for domestic participants and 857-244-7304 for international participants, both using a passcode 23510067.

    The Company will also be using slides to illustrate its second quarter results and operational progress.  The slides and live webcast of the call can be accessed from the investor relations section of the STAAR website at www.staar.com.A taped replay of the conference call will also be available beginning approximately one hour after the call's conclusion and will be available for seven days.  This replay can be accessed by dialing 888-286-8010 for domestic callers and 617-801-6888 for international callers, both using passcode 40120994.  An archived webcast will also be available at www.staar.com.

    Use of Non-GAAP Financial MeasuresThis press release includes supplemental non-GAAP f
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    SOURCE STAAR Surgical Company
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