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STAAR Surgical Reports 10% Second Quarter Revenue Growth
Date:7/31/2014

MONROVIA, Calif., July 31, 2014 /PRNewswire/ -- STAAR Surgical Company (NASDAQ: STAA) a leading developer, manufacturer and marketer of implantable lenses and delivery systems for the eye today reported revenue for the second quarter ended July 4, 2014 of $20.0 million, a 10% increase over $18.2 million reported for the second quarter of 2013. On a constant currency basis, revenues grew 11% during the second quarter of 2014 compared to the second quarter of 2013.  The effect of foreign currency exchange reduced sales by $0.1 million during the quarter.  The results included quarterly sales of $12.2 million of the Company's Visian ICL product portfolio, and $6.4 million of its IOL products. Lower margin Other Product sales were $1.4 million, a 39% increase compared to the second quarter of 2013.  The GAAP net loss for the second quarter of 2014 was $1.8 million or $0.05 on a per diluted share basis, compared with a net income of $278,000, or $0.01 on a per diluted share basis, in the second quarter of 2013."Our revenue growth for the first half of 2014 was 11% as reported and 13% in constant currency which was higher than our initial expectations," said Barry G. Caldwell, President and CEO.  "We currently expect our second half growth rate to be even higher given new product releases and increased IOL supply.  Visian ICL growth continues to be fueled by the expansion and penetration of the ICL with CentraFLOW® technology, which makes the procedure more convenient and cost effective for both the patient and the surgeon.  The CentraFLOW technology drove a revenue increase during the first half of 24% in our EMEA region with deeper penetration in Europe and expansion to our Latin America markets.  We also believe the CE Mark approval of the Preloaded ICL should help to drive additional revenue growth starting with full commercialization during the
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