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STAAR Surgical reports 26% increase in total product sales in 2008
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MONROVIA, Calif. — STAAR Surgical reported $18.2 million in total product sales for the fourth quarter of 2008, a gain of 14% from the same period in 2007, the company announced in a news release.
The company's total product sales for 2008 were $74.9 million, representing a 26% increase over the total reported for 2007, the release said.
"Our fourth quarter performance, though below our original expectations, capped a year of significant achievements for STAAR Surgical," Barry G. Caldwell, company president and CEO, said in the release.
The fourth-quarter increase in total product sales was partly attributed to strong sales by STAAR Japan, which totaled $3.7 million. Excluding Japan, total sales for the quarter decreased 9% from the fourth quarter of 2007.
Total U.S. sales for the fourth quarter were $4.5 million, a 6% decline from the fourth quarter of 2007. U.S. sales for the year totaled $18.9 million, a 4% decrease from 2007. U.S. Visian ICL sales for 2008 totaled $4.9 million, an increase of 18% from 2007. However, U.S. Visian ICL sales were flat in the fourth quarter, at $1 million, compared with the same period in 2007, the release said.
Total international sales grew 41% for the year. Outside Japan, total international sales grew 9% because of a $1.6 million gain in currency and a 26% rise in Visian ICL sales.
Gross profit margin for the fourth quarter was 57.1%, compared with 50.1% in fourth-quarter 2007, and 53.6% for the year, compared with 49.3% in full-year 2007. The fourth-quarter margin increase was attributed to sales of preloaded IOLs in Japan. The increase for the year was credited to rising sales of the Visian ICL, TICL and preloaded IOLs in Japan, the release said.
U.S. and global Visian ICL sales grew by more than 25% in the first 2 months of 2009, the company said.