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Staar Surgical posts net income in first quarter

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Staar Surgical reported a net income of $0.6 million, or $0.01 per share, in the first quarter of 2018 compared with a net loss of $2.2 million, or $0.05 per share, in the first quarter of 2017, according to a press release.

Net sales increased 33% to $27.1 million from $20.4 million. This was attributed to injector part sales and ICL revenue and unit growth.

Operating expenses increased from $16.7 million in 2017’s first quarter to $18.6 million this year. Marketing and selling expenses also increased, from $6.5 million to $7.4 million.

Research and development costs were $5 million compared with $4.8 million a year ago, an increase driven by clinical expenses associated with the clinical trial for the next-generation ICL with EDOF optic.

Staar had cash, cash equivalents and restricted cash of $20.9 million as of March 30.