NOV 01, 2013
Staar Surgical Company reported revenue of $17.1 million for the third quarter ended Sept.27, an increase of eight percent compared to $15.9 million for the third quarter of 2012.
The results included sales of $10.7 million for the company’s Visian ICL product portfolio, which grew 18 percent, and sales of $5.3 million for its IOL products, a decrease of 12 percent. Without the impact of foreign exchange, global IOL revenue would have increased 1 percent compared to the third quarter of 2012.
Net income for the third quarter of 2013 was $525,000 compared with a net loss of $90,000 during the third quarter of 2012.
"Visian ICL sales continued to show strong growth during the quarter while LASIK continues to be under downward pressure," said Barry Caldwell, the company’s president and CEO. "ICLs with CentraFLOW technology continue to be the key growth driver for us in markets where it is available. Key markets with CentraFLOW like Europe and the Middle East grew 42 percent and 39 percent respectively. In Europe, Spain grew 23 percent year over year, reflecting the first quarter with a true direct to direct distribution model comparison. We are still in the early days of adoption of the technology in Korea, India and Argentina.”
He adds that the company introduced at the 2013 ESCRS meeting the Visian ICL Preloaded System, which includes an enhanced optic design with the CentraFLOW technology.
"This technology is designed to reduce the procedure time, increase the useful optical zone for patients with larger pupils, as well as make the delivery of the ICL even more consistent,” he said. “We expect to gain CE Mark approval in Q4 and begin a full launch of commercialization during the first quarter of next year. As we continue the rapid cadence of new products utilizing our ICL platform, the focus within our research and development group turns to the V6 ICL. This product will both expand into a new market segment of presbyopia correction as well as make the ICL more competitive to LASIK in the myopic age group nearing their forties."