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STAAR Surgical expects 11% revenue growth for first quarter
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MONROVIA, Calif. — STAAR Surgical expects revenue for the first quarter to increase about 11% over the first quarter 2006 and total $14.8 million to $14.9 million, the company announced in a press release.
STAAR provided preliminary unaudited financial results for the quarter in preparation for discussions with investors and analysts normally held before quarterly earnings calls, including possible discussions during the American Society of Cataract and Refractive Surgeons meeting.
For the first quarter, STAAR expects international revenue to increase about 20% over the first quarter 2006, driven by an approximate 53% increase in refractive product sales growth and an approximate 11% increase in cataract product sales. Excluding the impact of currency, the company expects about 7% growth in total revenue and about 13% growth in total international revenue, according to the release.
However, STAAR expects an approximate 3% decline in U.S. sales for the quarter compared with the first quarter of last year. The decline reflects an approximate 10% decrease in cataract product, which was partially offset by an approximate 49% increase in refractive product sales, the release said.
STAAR expects to release its official first quarter earnings and hold an investor conference call after market close on May 1.