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STAAR Surgical Reports Record Second Quarter Net Sales of $81.1 Million Up 30% Y/Y
ICL Units Up 42% Y/Y; Constant Currency Net Sales of $84.2 Million Announces Partnership with Joe Jonas to Raise EVO Global Awareness LAKE FOREST,
About this update from Staar Surgical Company
[{"type":"text","content":"\nICL Units Up 42% Y/Y; Constant Currency Net Sales of $84.2 Million\n\nAnnounces Partnership with Joe Jonas to Raise EVO Global Awareness\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 second quarter ended July 1, 2022.\n\nSecond Quarter 2022 Overview\n\n\nRecord Net Sales of $81.1 Million Up 30% and Constant Currency Net Sales of $84.2 Million Up 35% from the Prior Year Quarter\n\n\nRecord ICL Sales of $77.9 Million Up 32% and Constant Currency ICL Sales of $80.5 Million Up 36% from the Prior Year Quarter\n\n\nRecord ICL Units Up 42% from the Prior Year Quarter\n\n\nGross Margin at 78.8% vs. 78.9% in the Prior Year Quarter\n\n\nNet Income of $0.26 per Share vs. $0.17 per Share in the Prior Year Quarter\n\n\nCash and Cash Equivalents Ended the Quarter at $202.5 Million\n\n\n“We achieved 30% sales growth and a record level of sales in the second quarter while advancing our EVO ICL Family of Lenses including in China and the U.S., the two largest market opportunities for refractive vision correction. The entire STAAR organization is energized by our ability to effectively manage COVID-19 challenges during the quarter, exceed our growth commitments and vault to a new record level of $81.1 million in quarterly net sales despite foreign currency headwinds,” said Caren Mason, President and CEO of STAAR Surgical. “In the second quarter, we achieved strong global ICL unit growth up 42% highlighted by unit growth in China up 45%, the U.S. up 36%, Japan up 41%, India up 181% and Asia Pacific distributor markets up 66%, all as compared to the prior year quarter. We are very proud to achieve the second quarter milestone results while also holding fast to our culture of quality and manufacturing excellence which contributed to our official five-year MDR Certification on July 15, 2022.”\n\nMs. Mason continued, “The U.S. commercial launch of our EVO family of myopia lenses is well underway, and we are thrilled to announce our partnership today with Joe Jonas, who earlier this month received EVO lenses to correct his distance vision. In the next several weeks, Joe will begin sharing his journey to Visual Freedom via a global advertising, marketing and socia...