STAAR Surgical Expects Fourth Quarter ICL Sales to Rise 42%; China Units Nearly Double, U.S. Market Returns to Growth
January 07 2019 - 9:15AM
Business Wire
STAAR Surgical Company (NASDAQ: STAA), a leading developer,
manufacturer and marketer of implantable lenses and companion
delivery systems for the eye, today provided preliminary sales
results for the fourth quarter ended December 28, 2018. The Company
expects fourth quarter ICL net sales to increase approximately 42%
over the prior year period. Total net sales for the fourth quarter
are expected to be approximately $31.2 million and total net sales
for fiscal 2018 are expected to be approximately $124.0 million,
representing approximately 37% growth over fiscal 2017.
“Global demand for our ICL product lines continued to expand
during the fourth quarter, and all signs currently point to this
momentum continuing into 2019,” said Caren Mason, President and
CEO. “China led the way with ICL unit growth of approximately 99%
in the fourth quarter, sequentially consistent with the growth we
reported for the third quarter of 2018. As we planned, STAAR
Surgical’s business in the U.S. also returned to growth. We began
the staged rollout of the Toric ICL in the U.S. to certified
surgeons in late October leading to approximately 16% growth for
the ICL in the U.S., compared to the prior year period, in the
world’s second largest refractive surgery market.”
STAAR Surgical intends to report full fourth quarter and fiscal
2018 financial results on or about February 21, 2019 and provided
today’s information due to investor meetings taking place January
7-8, 2019.
About STAAR Surgical
STAAR, which has been dedicated solely to ophthalmic surgery for
over 30 years, designs, develops, manufactures and markets
implantable lenses for the eye with companion delivery systems.
These lenses are intended to provide visual freedom for patients,
lessening or eliminating the reliance on glasses or contact lenses.
All of these lenses are foldable, which permits the surgeon to
insert them through a small incision. STAAR’s lens used in
refractive surgery is called an Implantable Collamer® Lens or
“ICL”, which includes the EVO Visian ICL™ product line. More than
900,000 Visian ICLs have been implanted to date. To learn more
about the ICL go to: www.discovericl.com. STAAR has approximately
400 full-time equivalent employees and markets lenses in over 75
countries. Headquartered in Monrovia, CA, the company operates
manufacturing facilities in Aliso Viejo, CA and Monrovia, CA. For
more information, please visit the Company’s website at
www.staar.com.
Safe Harbor
All statements in this press release that are not statements of
historical fact are forward-looking statements, including
statements about any of the following: any financial projections,
including those relating to the plans, strategies, expected sales
in China and the United States and objectives of management for
2019 or prospects for achieving such plans, expectations for sales,
revenue, or earnings, and any statements of assumptions underlying
any of the foregoing. Important factors that could cause actual
results to differ materially from those indicated by such
forward-looking statements are set forth in the Company’s Annual
Report on Form 10-K for the year ended December 29, 2017 under the
caption “Risk Factors,” which is on file with the Securities and
Exchange Commission and available in the “Investor Information”
section of the company’s website under the heading “SEC Filings.”
We disclaim any intention or obligation to update or revise any
financial projections or forward-looking statement due to new
information or events.
These statements are based on expectations and assumptions as of
the date of this press release and are subject to numerous risks
and uncertainties, which could cause actual results to differ
materially from those described in the forward-looking statements.
The risks and uncertainties include the following: global economic
conditions; the discretion of regulatory agencies to approve or
reject existing, new or improved products, or to require additional
actions before approval, or to take enforcement action; potential
international trade disputes; and the willingness of surgeons and
patients to adopt a new or improved product and procedure. The
Visian ICL with CentraFLOW, now known as EVO Visian ICL, is not yet
approved for sale in the United States.
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version on businesswire.com: https://www.businesswire.com/news/home/20190107005261/en/
Investors & MediaEVC GroupBrian Moore,
310-579-6199Doug Sherk, 415-652-9100
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