Business
STAAR Surgical Announces Preliminary Results for Fourth Quarter and Fiscal 2023
Net Sales Up 19% for Fourth Quarter and 13% for Fiscal 20231 ICL Sales Up 22% for Fourth Quarter and 18% for Fiscal 2023 Provides Fiscal 2024 Sales Outlook
About this update from Staar Surgical Company
[{"type":"text","content":"\nNet Sales Up 19% for Fourth Quarter and 13% for Fiscal 20231\n\n\nICL Sales Up 22% for Fourth Quarter and 18% for Fiscal 2023\n\n\nProvides Fiscal 2024 Sales Outlook of $335 Million to $340 Million\n\n\n LAKE FOREST, Calif.--(BUSINESS WIRE)--\nSTAAR Surgical Company (NASDAQ: STAA), a leading developer, manufacturer and marketer of the EVO family of Implantable Collamer® Lenses (EVO ICL) for myopia, astigmatism and presbyopia, today announced preliminary results for the fourth quarter and fiscal year ended December 29, 2023. Preliminary net sales were approximately $76.5 million for the fourth quarter and approximately $322.5 million for fiscal 2023. Operating margin is expected to be approximately 5% for the fourth quarter and fiscal 2023.\n\n\n“Fiscal 2023 was a year of positive market share gains, sales growth and continued profitability for STAAR. Our teams finished the year on a strong note with global ICL sales increasing 22% in the fourth quarter including 26% growth in APAC,” said Tom Frinzi, President and CEO of STAAR Surgical. “ICL unit growth also compares particularly favorably to recent industry trends, outpacing refractive industry growth by at least 25 points for the third year in a row.2 Global ICL sales increased 18% for fiscal 2023 driven by 21% growth in APAC, 7% growth in EMEA and 10% growth in the Americas.”\n\n\nMr. Frinzi continued, “2023 was also a year of transition and fast learning as we launched new market development strategies while continuing to invest in innovation. Global voice of customer surveys, the most recent completed in November, show willingness to recommend and satisfaction with product quality and clinical outcomes continue to exceed 95%. These data bolster our confidence that utilization of our ICL technology will continue to move down the diopter curve opening up a larger portion of the vast addressable market opportunity. We anticipate clinical journals will publish two new peer-reviewed papers in the first half of 2024 that should further enhance surgeon confidence in measurement and lens size selection across the wide range of diagnostic devices and tools surgeons use to measure the eye for our lenses. Additionally, we intend to continue our investment in innovation projects such as intermediate lens sizes and AI driven tools.”\n\n\n“Our sales outlook for fiscal 2024 balances the ...