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STAAR reports Q3 revenues of $18.2 million

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STAAR Surgical announced third-quarter revenues of $18.2 million, marking a 6.3% increase from the $17.1 million in revenues seen in 2013, according to a company press release.

Quarterly sales included $10.6 million from the company’s Visian ICL product portfolio, down from $10.7 million during the same period last year. The company also reported $5.8 million in earnings from IOL products and $1.8 million of lower-margin other product sales, according to the release.

Third-quarter results also included a GAAP net loss of $2.7 million, or $0.07 on a per diluted share basis, compared with a net income of $525,000 or $0.01 on a per diluted share basis, in the third quarter of 2013.

Gross profit margin was reported at 65.3%, compared with 70.5% in 2013. This decrease was driven by factors including higher distribution costs and increased inventory reserves, as well as higher ICL unit costs, according to the release.

Operating expenses were reported at $13.4 million, compared with $11.9 million in 2013.