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STAAR Surgical posts $1.2 million quarterly income

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STAAR Surgical reported a third quarter net income of $1.2 million, or $0.03 per share, compared with a net loss of $1.8 million, or $0.04 per share, in the third quarter of 2016.

Net sales increased 17% to $23.5 million in the quarter compared with $20.1 million in last year’s third quarter. The increase was attributed to ICL revenue and unit growth and sales of injector parts. IOL sales decreased 16%, according to a company press release.

Operating expenses for the quarter were $15.8 million, a decrease from 2016’s third quarter operating costs of $16.6 million.

STAAR had cash, cash equivalents and restricted cash of $16.3 million as of Sept. 29.