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STAAR Surgical posts $9.4 million net less for fourth quarter

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MONROVIA, Calif. — STAAR Surgical reported a 2009 fourth-quarter net loss of $9.4 million, or $0.27 per share, compared with a net loss of $9.5 million, or $0.32 per share, reported during the fourth quarter of 2008, the company announced in a press release.

For the full-year, STAAR posted a net loss of $14.1 million, or $0.43 per share, compared with a net loss of $23.2 million, or $0.79 per share, for 2008.

Fourth-quarter product sales totaled $19.8 million, up 9.2% compared with $18.2 million reported during the same period in 2008, led by increased sales of IOLs (up 5.3%) and ICLs (up 36.9%) and a $1.2 million favorable effect of currency. However, U.S. sales declined 15.7% to $3.8 million for the quarter. U.S. Visian ICL sales were $1 million, up 2.8% from the fourth quarter of 2008, the release said.

Global product sales for 2009 totaled $75.3 million, up 1% from $74.9 million for 2008. Despite sales growth for ICLs and IOLs, STAAR reported a 15% decline in non-lens sales during 2008, primarily due to the company's resolution to de-emphasize lower margin product, according to the release.

For the full year, U.S. sales declined 15% to $16.1 million, despite a 2.5% rise in Visian ICL sales.

Total international sales rose 6% to $59.3 million for 2009. Specifically, international Visian ICL sales rose 19.6% to $17 million and international IOL sales rose 7.6% to $25.2 million.

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