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STAAR Surgical posts gains in third quarter

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MONROVIA, Calif. — STAAR Surgical reported total product sales of $11.9 million during its third fiscal quarter, up 7.6% from the comparable period a year ago, the company announced in an earnings release. Net loss for the quarter, however, was $2.7 million, increased from a net loss of $2.1 million in the year-ago period.

During the third quarter, the company increased U.S. sales 5% from the year-ago period, according to the release.

“This performance was led by a 28% increase in Collamer lens sales, where growth has continued to accelerate. Toric lens sales also continued to gain momentum and were up 10% during the quarter,” said David Bailey, STAAR’s president and chief executive officer, in the release. Outside the United States, overall sales were flat, but sales of the Implantable Contact Lens (ICL) increased 15% during the quarter. While the ICL is not currently approved for marketing in the United States, Mr. Bailey said in the earnings statement that the company is on track to achieve Food and Drug Administration approval during “early 2004.”