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STAAR Surgical’s 4Q revenues up, year-end results down

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MONROVIA, Calif. — STAAR Surgical’s revenues for the fourth quarter of 2002 increased to $13.2 million from $12.7 million the year before. Revenues for the year, however, decreased to $48 million from $51 million in 2001.

The company should be operating profitably by the fourth quarter of this year, said president David Bailey. He attributed the decreased revenues to a loss of market share in IOLs in the United States

“In line with our strategic goal, we will continue to push ahead with new approvals for the high-margin implantable contact lens (ICL) and Toric ICL in order to increase the proportion of revenues from these high margin products,” Mr. Bailey said. “Critically improved injector systems introduced in the first half of 2003 should assist us to regain market share with our core IOLs, particularly in the U.S. market.”