Business
STAAR Surgical Reports Record First Quarter 2021 Net Sales of $50.8 Million Up 44% Y/Y
First Quarter ICL Sales Up 58% Y/Y and Units Up 54% Y/Y Announces Submission of Clinical Trial Data to U.S. FDA for EVO Family of Myopia Lenses Introduces
About this update from Staar Surgical Company
[{"type":"text","content":"\nFirst Quarter ICL Sales Up 58% Y/Y and Units Up 54% Y/Y\n\nAnnounces Submission of Clinical Trial Data to U.S. FDA for EVO Family of Myopia Lenses\n\nIntroduces Net Sales Outlook of Approximately $215 Million to $217 Million for Full Year 2021\n\n LAKE FOREST, Calif.--(BUSINESS WIRE)--\nSTAAR Surgical Company (NASDAQ: STAA), a leading developer, manufacturer and marketer of implantable lenses and companion delivery systems for the eye, today reported financial results for the first quarter ended April 2, 2021.\n\nFirst Quarter 2021 Overview\n\n\nRecord Quarterly Net Sales of $50.8 Million Up 44% from the Prior Year Quarter\n\n\nRecord Quarterly ICL Sales of $46.5 Million Up 58% from the Prior Year Quarter\n\n\nRecord Quarterly ICL Units, Up 54% from the Prior Year Quarter\n\n\nGross Margin at 77.1% vs. 70.4% in the Prior Year Quarter\n\n\nNet Income of $0.10 per Share vs. Prior Year Quarter Net Loss of Approximately Breakeven\n\n\nCash and Cash Equivalents Ended the Quarter at $162.3 Million Up from $152.5 Million in Q4 2020\n\n\n“Every major market delivered outstanding performance during the first quarter of 2021 providing a record breaking quarterly achievement of net sales of $50.8 million. First quarter ICL sales of $46.5 Million and unit growth of 54% continued the increasing momentum from second half 2020 results and represents a return to the strong demand for ICL lenses we experienced in January 2020 prior to the pandemic taking hold,” said Caren Mason, President and CEO of STAAR Surgical. “ICL unit growth in the first quarter, year over year, included China up 63%, Japan up 72%, Korea up 29%, Rest of Asia Pacific up 63%, Spain up 42%, Germany up 48%, Distributor Markets in Europe up 54%, and the U.S. up 46%.”\n\n“The record results for the first quarter of 2021 demonstrate that the promise for a lens-based future of refractive vision correction is accelerating, led by STAAR’s EVO Visian family of implantable Collamer lenses. STAAR’s imperatives around surgeon training and partnership, clinical support and extraordinary consumer outreach such as our newest campaign in Japan, continue to be the underpinnings of our excellent results. In China, the largest market for refractive surgery in the world, we now turn our attention to preparing for and delivering excellence during the upcoming busy implant season which typical...