STAAR Surgical posts $1.7 million net loss in first quarter, 2% rise in sales

MONROVIA, Calif. — STAAR Surgical reported a net loss of $1.7 million, or $0.06 per share, for the first quarter, compared with a net loss of $8.9 million, or $0.30 per share, reported during the first quarter of 2008, the company announced in a press release.

However, approximately $5.4 million of the first quarter 2008 net loss stemmed from the company's acquisition of STAAR Japan, the release said.

First-quarter global sales totaled $18.3 million, representing a 2% increase compared with $18 million in sales reported during the same period last year. International product sales totaled $14 million, up 5% compared to $13.4 million in international sales reported during last year's first quarter.

Total first-quarter ICL sales rose 18% to $5.07 million, while total first-quarter IOL sales rose 2% to $8.15 million.

Total first-quarter sales in the United States were $4.2 million, down 6% compared with $4.5 million in sales reported during the first quarter of 2008. The decline in U.S. sales was partially offset by a spike in ICL sales in the U.S., which rose 24% to $1.4 million; however, U.S. IOL sales declined 8% to $2.2 million, according to the release.

In addition, sales for STAAR Japan grew 26% to $3.54 million for the quarter.