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STAAR reports $8 million net loss in first quarter

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STAAR Surgical reported a net loss of $8 million, or $0.20 per share, in the first quarter compared with a net loss of $2.3 million, or $0.06 per share, in the same quarter of 2015, according to a company press release.

Net sales increased 2% over the previous year’s first quarter, and was reported at $19.3 million. The increase in sales was attributed mostly to increased sales of the Visian ICL in China and Germany.

Operating expenses were reported at $23 million compared with $14.4 million in the same quarter of 2015.

Cash and cash equivalents totaled $9 million, down from $10.8 million in the same quarter of 2015.