STAAR Surgical sees strong revenue growth in second quarter

STAAR Surgical Co. reported revenues of $18.2 million for the second quarter ended June 28, an increase of 14 percent over the second quarter of 2012. The results included sales of $11.3 million for the company's Visian ICL product portfolio and $5.9 million for its IOL products.

The effect of foreign currency exchange during the quarter versus the second quarter of 2012 reduced total sales by $1 million. On a constant currency basis, revenues grew 20 percent during the second quarter of 2013 compared to the second quarter of 2012.

"We delivered a second consecutive quarter of solid revenue growth with some very positive trends that we believe can be built on over the next several quarters," said Barry Caldwell, STAAR’s president and CEO. "In our focused major markets, our Visian ICL continues to gain share over LASIK. We have now successfully implanted over 20,000 ICLs with CentraFLOW and this technology continues to be a key growth driver.”

The Visian ICL with CentraFLOW received marketing approval in June in Argentina and Korea, with final product approval expected in India during the third quarter.

“Our Asia Pacific region grew Visian ICL sales by 29 percent, which was driven by 77 percent growth in China,” he said. “With the growth renewal in China during the quarter, that market was our number one market in Visian ICL revenues.”

Sales in the European region grew by 47 percent during the quarter, driven by CentraFLOW technology, productivity from the company’s expanded sales team in the region and the shift to a direct selling model in Spain, Mr. Caldwell said.

“Based upon our experience in Europe, the wider approval range of the Visian ICL with CentraFLOW opens up the refractive market for increased market share gains,” he added.

Meanwhile, ICL revenues in North America grew by 9 percent during the company’s second quarter.

"We sold our first nanoFLEX Toric IOLs in Europe during the quarter with encouraging results,” Mr. Caldwell added.