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STAAR Surgical posts quarterly income

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STAAR Surgical reported a net income of $1.5 million, or $0.03 per share, in 2018’s third quarter compared with a net income of $1.2 million, or $0.03 per share, in the third quarter of 2017.

Net sales were up 35% from $23.5 million to $31.8 million for the quarter, according to a press release. This was attributed to ICL revenue growth and ICL unit growth.

Operating expenses increased from $15.8 million to $22.3 million for the quarter, while general and administrative expenses increased from $4.7 million to $6.1 million. Marketing and selling expenses rose from $6.5 million to $10.6 million.

The company had cash, cash equivalents and restricted cash totaling $102.3 million as of Sept. 28.