Welcome to our dedicated page for Staar Surgical Co news (Ticker: STAA), a resource for investors and traders seeking the latest updates and insights on Staar Surgical Co stock.
Staar Surgical Co (NASDAQ: STAA) is a prominent player in the ophthalmic surgery market, with over three decades of experience. The company specializes in the development, manufacture, and marketing of implantable lenses and accompanying delivery systems for the eye. Staar Surgical's flagship product line includes the EVO Visian Implantable Collamer® Lenses (ICLs), which are used to treat a variety of visual disorders such as myopia, hyperopia, astigmatism, and presbyopia.
These lenses are designed to provide visual freedom to patients, significantly reducing or eliminating their reliance on glasses or contact lenses. The EVO Visian ICLs are foldable, allowing for a minimally invasive procedure where the lens is inserted through a small incision. This innovative approach not only enhances surgical outcomes but also minimizes recovery time for patients.
To date, nearly 600,000 EVO Visian ICLs have been implanted worldwide, showcasing the trust and effectiveness of Staar Surgical's products. Additionally, the company offers minimally invasive intraocular lenses (IOLs) geared towards cataract surgery. These include foldable IOLs and aspheric IOLs that deliver a clearer image compared to traditional spherical lenses.
Staar Surgical's commitment to advancing ophthalmic technology is evident in its continuous efforts to improve product offerings and expand its market reach. The company has formed strategic partnerships and collaborations to bolster its research and development initiatives, ensuring the delivery of cutting-edge solutions in eye care.
Financially, Staar Surgical has shown consistent growth, with the majority of its revenue generated from the ophthalmic surgical product segment. The company's focus remains on innovation and quality, driving its mission to enhance vision care globally.
STAAR Surgical Company (NASDAQ: STAA) will release its financial results for Q1 2023 on May 3, 2023, after market close. The company is known for developing implantable lenses to enhance vision and has sold over 2 million ICLs in over 75 countries. A conference call will follow at 4:30 PM Eastern to discuss operational progress and financial outcomes. Interested parties can access the call via phone or the live webcast from STAAR's investor relations website. A replay of the call will be available for a week afterward. With a commitment to ophthalmic surgery for over 40 years, STAAR continues to innovate and expand its reach in the vision correction market.
STAAR Surgical Company (NASDAQ: STAA) announces the appointment of Warren Foust as Chief Operating Officer and Magda Michna, Ph.D., as Chief Clinical, Regulatory and Medical Affairs Officer. This move underscores the company's commitment to growth in the ophthalmic sector. Foust, previously with Johnson & Johnson Vision, brings extensive experience in surgical operations. Michna joins from AcuFocus, Inc., with a strong background in clinical and regulatory affairs. CEO Tom Frinzi emphasizes their roles in expanding the market for EVO ICL lenses.
STAAR Surgical Company (NASDAQ: STAA) reported robust financial results for Q4 and FY 2022, showcasing a strong growth trajectory. Q4 net sales rose to $64.0 million, a 9% increase year-over-year, driven by a 15% rise in ICL sales to $61.2 million. Fiscal 2022 net sales reached $284.4 million, up 23%, with ICL sales soaring 27%. Gross margins improved to 77.7% in Q4 and 78.5% for the year. Net income for Q4 was $5.9 million ($0.12 per share), reflecting a year-over-year increase. Looking ahead, STAAR anticipates approximately $340 million in total ICL sales for FY 2023, representing a 26% growth. The company's cash reserves totaled $225.5 million at year-end.
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