Staar Surgical Company · NASDAQ:STAA
Staar Surgical — 40th Annual Deutsche Bank Healthcare Conference (May 2015)
19 slides from Staar Surgical's conference presentation, May 7, 2015
Slide 1: 40th Annual Deutsche Bank Healthcare Conference
NASDAQ: STAA May 7th 40th Annual Deutsche Bank Healthcare Conference 1
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS All statements in this presentation that are not statements of historical fact are forward-looking statements, including statements about any of the following: any projections of earnings, revenue, sales, profit margins, cash, effective tax rate or any other financial item
Slide 3: STAAR Surgical Is… Premium Implantable Lenses for Refractive Vision Correction
STAAR® SURGICAL IS… … a Leading Developer, Manufacturer and Marketer of Premium Implantable Lenses for Refractive Vision Correction • Implantable Collamer® Lens or “ICL”™ - A Premium Refractive Procedure and an Alternative to LASIK - >500,000 Visian® ICLs Implanted 59% of 2014 Revenue 3
Slide 4: STAAR Surgical Is… Premium Implantable Lenses for Cataract Lens Replacement
STAAR SURGICAL IS… … a Leading Developer, Manufacturer and Marketer of Premium Implantable Lenses for Cataract Lens Replacement • Intraocular Lens (IOL) - Used to Replace the Natural Lens after Cataract Surgery 33% of 2014 Revenue 4
Slide 5: Our Focus 2015-2017 for Consistent Growth
OUR FOCUS 2015 - 2017 BUILDING A FOUNDATION FOR CONSISTENT GROWTH • Engender Culture of Quality - FDA Remediation and Systemic Change • Build R & D Continuum “EV3”: CentraFLOW®/ Presbyopia/ Cataract Care • Invest in Proprietary Technology and Process Improvements • Develop Global Clinical Validation
Slide 6: Culture of Quality - FDA Remediation and Systemic Change
OUR FOCUS 2015 - 2017 BUILDING A FOUNDATION FOR CONSISTENT GROWTH • Culture of Quality - FDA Remediation and Systemic Change & Upgrade Diligently Focus on Meeting or Exceeding Remediation Requirements Hire Top Talent to Manage and Direct Systemic Correction and Upgrade Building Fully Compliant
Slide 7: Build R&D Continuum EV3: CentraFLOW/Presbyopia/Cataract Care
OUR FOCUS 2015 - 2017 BUILDING A FOUNDATION FOR CONSISTENT GROWTH • Build R & D Continuum “EV3”: CentraFLOW®/ Presbyopia/ Cataract Care Dr. Jose F. Alfonso MD, PhD and colleagues published a paper on ICL results in the April 2015 issue of the Journal of Cataract and Refractive Surgery. In a study of
Slide 8: ICL Post Surgical Outcome Study Results
ICL POST SURGICAL OUTCOME STUDY RESULTS V4 V4B V4C N 1106 1276 1048 Cases of Cataract 16 5 0 % of cases 0.5% 0.2% 0 Years of follow-up Up to 12y Up to 4y Up to 2y Prevalence of cataract after collagen copolymer phakic intraocular lens implantation for myopia, hyperopia, and astigmatism José F. Alfon
Slide 9: Presbyopia: 1.8 Billion People In Need of Vision Correction
OUR FOCUS 2015 - 2017 BUILDING A FOUNDATION FOR CONSISTENT GROWTH • Build R & D Continuum “EV3”: CentraFLOW®/ Presbyopia/ Cataract Care 28% of Global Population 1.8 Billion People In Need of Vision Correction “Where are My Reading Glasses?” Source: 2014 Comprehensive Report on the Global Pre
Slide 10: IOL Market: Premium IOL Focus
OUR FOCUS 2015 - 2017 BUILDING A FOUNDATION FOR CONSISTENT GROWTH • Build R & D Continuum“EV3”: CentraFLOW®/ Presbyopia/ Cataract Care 22M IOLs Implanted in 2013 26M Estimated IOLs Implanted in 2018 STAAR Strategy Focused on Premium IOLs Currently Assessing New Materials and Technology to Ad
Slide 11: Invest in Proprietary Technology and Process Improvements
OUR FOCUS 2015 - 2017 BUILDING A FOUNDATION FOR CONSISTENT GROWTH • Invest in Proprietary Technology and Process Improvements Building Research Lab for Materials Science with Emphasis on Collamer Versions II, III and Beyond Assessing Opportunities to Expand Patent Estate (Patents and Trade Secre
Slide 12: Enhance Global Clinical Validation and Clinical Utility Competency
OUR FOCUS 2015 - 2017 BUILDING A FOUNDATION FOR CONSISTENT GROWTH • Enhance Global Clinical Validation and Clinical Utility Competency Recruiting Clinically Lauded Ophthalmic Surgeons for Working Groups by Market First Working Group Focused on Sizing Solutions Assigning Working Group Participa
Slide 13: Properly Size Commercial Strategic Investment
OUR FOCUS 2015 - 2017 BUILDING A FOUNDATION FOR CONSISTENT GROWTH • Properly Size Commercial Strategic Investment – People and Services March 2015 Combined EMEA and ASIA PAC under International Leadership Team April 2015 Completed NA Leadership and Direct Representation Consolidation 13
Slide 14: Create an Extraordinary Surgeon and Patient Experience
OUR FOCUS 2015 - 2017 BUILDING A FOUNDATION FOR CONSISTENT GROWTH • Create an Extraordinary Surgeon and Patient Experience Prof. Kimiya Shimizu – paper authored with other leading doctors from Japan, published in December of 2014 in the Journal of Cataract and Refractive Surgery. It provided that
Slide 15: Our Focus 2015-2017 for Consistent Growth
OUR FOCUS 2015 - 2017 BUILDING A FOUNDATION FOR CONSISTENT GROWTH • Engender Culture of Quality - FDA Remediation and Systemic Change • Build R & D Continuum “EV3”: CentraFLOW®/ Presbyopia/ Cataract Care • Invest in Proprietary Technology and Process Improvements • Develop Global Clinical Validation
Slide 16: Recent Financial Results: Q1 2015 GAAP
RECENT FINANCIAL RESULTS Q1 2015 GAAP ($ millions, except per share) Income Statement Q1 2015 Q1 2014 Revenue $ 18.9 $ 20.2 Gross Profit $ 12.9 $ 13.9 Gross Profit Margin 68.4% 68.8% Operating Expenses $ 14.4 $ 15.2 Other Income (Loss) $ (0.9) $ 0.2 Income (Loss) Before Taxes $ (2.4) $ (1.1) Net Inc
Slide 17: Recent Financial Results: Q1 2015 Non-GAAP
RECENT FINANCIAL RESULTS Q1 2015 Non-GAAP ($ millions, except per share) Adjusted Net Income Q1 2015 Q1 2014 Net Income (Loss) $ (2.3) $ (1.4) Manufacturing Consolidation Expenses - $ 0.2 Foreign Currency Impact $ 0.9 $ (0.1) Stock-Based Compensation Expense $ 1.1 $ 1.5 FDA Panel / Remediation Expen
Slide 18: Financial Highlights
FINANCIAL HIGHLIGHTS • Sales of $18.9M: -7% from prior year and -3% in constant currency - ICL double-digit unit growth in North America and; CentraFLOW® acceptance in China positive • Gross Margin at 68.4%: moderate decline from prior year of 68.8% - Unit cost improvements of 110+ basis points offs
Slide 19: 40th Annual Deutsche Bank Healthcare Conference
NASDAQ: STAA May 7th 40th Annual Deutsche Bank Healthcare Conference 19
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