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Revenue, earnings increase in second quarter for STAAR

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STAAR Surgical reported net earnings of $278,000 for the second quarter of 2013, up from a net loss of $491,000 in the same quarter of 2012, according to a news release.

Revenue for the quarter ended June 28 was $18.2 million, up from $15.9 million during the same period last year, an increase of 14%.

STAAR’s Visian Implantable Collamer Lens products accounted for $11.3 million in sales, while its IOL products accounted for $5.9 million, the release said. The company’s gross profit margin for the quarter was 69.5%, up from 69.3% in the second quarter of 2012.

For the first 6 months of the year, STAAR reported a net income of $749,000, up from a loss of $259,000 during the first 6 months of 2012.

Based on the results, STAAR updated its total revenue growth projection to a range of 12% to 14%, up from the original projection of 8% to 10%.