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) reported strong third quarter results with net sales of $58.4 million, a 24% increase year-over-year. ICL sales reached $54.2 million, up 31%, while unit growth was 29%. Gross margin improved to 77.6%. The company raised its full-year sales outlook to $230 million - $231 million, reflecting over 40% growth. However, a backlog of over 20,000 lenses was noted, partially due to COVID-related challenges. Net income per share grew to $0.12 from $0.08 in the prior year. Cash reserves rose to $196.2 million from $152.5 million.
STAAR Surgical Company (NASDAQ: STAA) will announce its third-quarter financial results on November 3, 2021, after market close. A conference call will follow at 4:30 p.m. Eastern / 1:30 p.m. Pacific to discuss the results and operational progress. Participants can join the call at 844-200-6205 (domestic) or 929-526-1599 (international). A taped replay will be available for seven days after the call. STAAR focuses on developing implantable lenses and delivery systems to enhance visual freedom, having successfully implanted over 1,000,000 Visian ICLs worldwide.
STAAR Surgical Company (NASDAQ: STAA) reported record second-quarter net sales of $62.4 million, a 77% increase year-over-year, driven primarily by ICL sales up 93%. Gross margin improved to 78.9% from 69.4% the previous year. The net income was $8.6 million or $0.17 per share, compared to a net loss of $1.2 million last year. The company raised its annual sales outlook to between $227 million and $230 million, projecting approximately 40% year-over-year growth. Cash reserves increased to $173.1 million.
STAAR Surgical Company (NASDAQ: STAA) will announce its second-quarter financial results for the period ending July 2, 2021, on August 4, 2021, after market close. Following the announcement, a conference call will take place on the same day at 4:30 p.m. Eastern / 1:30 p.m. Pacific to discuss the results and operational updates. Participants can join the call by dialing 866-209-9722 (domestic) or 825-312-2235 (international). A replay of the call will be available for a week, along with an archived webcast on www.staar.com.
STAAR Surgical Company (NASDAQ: STAA) reported record first-quarter 2021 net sales of $50.8 million, a 44% increase from the previous year. Implantable Collamer Lens (ICL) sales reached $46.5 million, up 58%, with unit sales growing 54%. Gross margin improved to 77.1% from 70.4% a year ago. The company achieved a net income of $5.0 million ($0.10/share), reversing the prior year's loss. Cash reserves rose to $162.3 million. STAAR forecasts fiscal 2021 net sales between $215 million and $217 million, reflecting over 30% anticipated growth year-over-year.
STAAR Surgical Company (NASDAQ: STAA) will announce its financial results for the first quarter ended April 2, 2021, on May 5, 2021, after the market close. A conference call to discuss these results is scheduled for the same day at 4:30 p.m. Eastern / 1:30 p.m. Pacific. Participants can join the call by dialing 833-350-1429 (domestic) or 647-689-6661 (international). A replay will be available for seven days after the call. STAAR specializes in implantable lenses for eye surgery, with over 1,000,000 lenses implanted globally.
STAAR Surgical Company (NASDAQ: STAA) reported financial results for Q4 and FY 2020, highlighting a net sales increase of 18% to $46.0 million for Q4, driven by a 20% rise in ICL sales. However, net income fell to $0.07 per share from $0.14 due to a prior year tax benefit. For FY 2020, net sales reached $163.5 million, up 9%, but gross margin decreased to 72.4%. Operating expenses rose to $111.6 million due to increased costs across various areas, including R&D. The company remains optimistic about ongoing growth and market share gains in refractive procedures.
STAAR Surgical Company (NASDAQ: STAA) has announced it will release its fourth-quarter and fiscal year financial results on February 24, 2021, post-market. The company will also hold a conference call at 4:30 p.m. Eastern to discuss these results and operational insights. STAAR specializes in developing and marketing implantable lenses and delivery systems for the eye, with over 1,000,000 Visian® ICLs implanted globally, illustrating its strong presence in the ophthalmic surgery market.
STAAR Surgical Company (NASDAQ: STAA) has appointed Elizabeth Yeu, M.D. and K. Peony Yu, M.D. to its Board of Directors, effective January 21, 2021. Their addition highlights the company's commitment to excellence and growth in the field of ophthalmology. Yeu is a respected ophthalmic surgeon with extensive leadership experience, while Yu has over 25 years in biomedical leadership, having served as Chief Medical Officer at FibroGen. John Moore, a board member since 2008, will retire at the 2021 Annual Shareholders Meeting. The new appointments aim to enhance STAAR's strategic goals in refractive vision correction.
STAAR Surgical Company (NASDAQ: STAA) announced preliminary fourth quarter and fiscal year results for the period ending January 1, 2021. Expected total net sales are approximately $46 million for Q4 and $163 million for the full year. GAAP earnings per share is projected to be around $0.06 for Q4 and $0.12 for the fiscal year. The company reported a rise in ICL units across various regions, with significant growth in countries like China and Japan. STAAR plans to advance commercialization of its EVO product initiatives and maintain a growth target of 25% compound annual revenue increase over three years.
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