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STAAR Surgical reports first quarterly income since 2000

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MONROVIA, Calif. — STAAR Surgical reported increased revenue in the first quarter, making it the company's first quarter of income from continuing operations since 2000, according to a company press release.

Revenue for the first quarter increased by 8% to $14.8 million due to a 10% growth in core product sales. First-quarter Visian ICL sales set a record of $6.9 million, up 18% from $5.9 million in the first quarter of 2010. IOL sales increased by 4% to $7.1 million.

The company earned $300,000, or $0.01 per share, from continuing operations, compared with a loss of $636,000, or $0.02 per share, in the first quarter of 2010, the release said.

In addition, STAAR's cash position increased by $900,000. By the end of the first quarter, the company's cash, cash equivalents and restricted cash totaled $10.4 million, compared with $9.5 million in the last quarter of 2010.