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STAAR Surgical posts quarterly income

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STAAR Surgical reported a net income of $1.8 million, or $0.04 per share, in the second quarter of 2018 compared with a net loss of $1 million, or $0.02 per share, in 2017’s second quarter.

Net sales grew 55% from $21.9 million in last year’s second quarter to $33.9 million this year, which was driven by ICL revenue and unit growth, according to a press release.

General and administrative expenses went up from $4.7 million to $6.2 million, research and development expenses increased from $4.8 million to $5.3 million, and marketing and selling expenses went from $7.3 million to $10.7 million.

STAAR had cash, cash equivalents and restricted cash of $21.4 million as of June 29.