STAAR Surgical Provides Preliminary First Quarter Revenue Results

      STAAR Surgical Provides Preliminary First Quarter Revenue Results

Visian® ICL™ Revenue Increase Approximately 24%, a Record Quarterly High

Total Revenue Increase Approximately 16% to $18 Million

PR Newswire

MONROVIA, Calif., April 8, 2013

MONROVIA, Calif., April 8, 2013 /PRNewswire/ --STAAR Surgical Company
(NASDAQ: STAA), a leading developer, manufacturer and marketer of minimally
invasive ophthalmic products, today announced that first quarter revenue is
expected to be approximately $18 million, which would represent approximately
16% growth. All revenue comparisons are to the same period prior year
results. The effect of foreign currency exchange reduced total company revenue
by approximately $750,000 during the quarter. Visian ICL revenue grew
approximately 24%, exceeding the $10 million level in quarterly revenue for
the first time in the Company's history. STAAR is reporting the preliminary
results due to previously scheduled meetings with investors on April 11-12 and
the upcoming American Society of Cataract and Refractive Surgeons Annual
Conference. Final results for the first quarter are expected to be released
on May 1, 2013.

"Our year is off to a good start, despite currency exchange and backorder
challenges," said Barry G. Caldwell, President & CEO. "Visian ICL revenue
grew in 10 of our 11 targeted markets during the quarter allowing us to
achieve a quarterly revenue record for the product line. In Europe, revenue
increased approximately 57%, reflecting the growing acceptance of our new ICL
CentraFLOW™ technology as well as the impact of an expanded sales team in the
region. The CentraFLOW technology simplifies the ICL treatment by making it a
one-step procedure, which is more convenient and cost effective for both the
patient and surgeon. We are encouraged by the market demand we are generating
for this high margin product while LASIK volume seems to be under pressure
globally. We continue to expect regulatory approval for the CentraFLOW
technology in Korea and India later this year. Visian ICL revenue grew in the
U.S. by approximately 12% in the first quarter, likely due to our on-going
marketing, social media, and promotional activities. This 12% first quarter
growth in the U.S. follows 10% year over year growth during the second half of
2012 in a market where LASIK procedures are clearly declining.

"IOL revenue during the first quarter of this year remained relatively flat.
However, without the negative impact of the foreign exchange rate in Japan,
global IOL revenue would have grown by approximately 10%. With the
introduction of the KS-SP Preloaded Acrylic IOL we saw a 25% IOL unit increase
in Japan. Additionally, we did exit the quarter with approximately $900,000 in
backorders of our Pre-Loaded Acrylic IOLs in Europe. Finally, we continue to
make progress towards the full implementation of our manufacturing
consolidation from Japan and Switzerland facilities to the U.S., remaining on
target with our pre-established product and quality metrics. We look forward
to updating investors on our progress as well as our 2013 metrics on May 1,"
Mr. Caldwell concluded.

About STAAR Surgical

STAAR, which has been dedicated solely to ophthalmic surgery for over 25
years, designs, develops, manufactures and markets implantable lenses for the
eye and delivery systems therefor. All of these lenses are foldable, which
permits the surgeon to insert them through a small incision. STAAR's lens used
in refractive surgery as an alternative to LASIK is called an Implantable
Collamer® Lens or "ICL." A lens used to replace the natural lens after
cataract surgery is called an intraocular lens or "IOL." Over 350,000 Visian
ICLs have been implanted to date; to learn more about the ICL go to:
www.visianinfo.com. STAAR has approximately 300 full time employees and
markets lenses in over 60 countries. Headquartered in Monrovia, CA, it
manufactures in the following locations: Nidau, Switzerland; Ichikawa City,
Japan; Aliso Viejo, CA; and Monrovia, CA. For more information, please visit
the Company's website at www.staar.com.

Safe Harbor

All statements in this press release that are not statements of historical
fact are forward-looking statements, including statements about any of the
following: any projections or estimates of earnings, revenue, sales, profit
margins, cash or any other financial items; the plans, strategies, and
objectives of management for future operations or prospects for achieving such
plans; metrics for 2013; statements regarding new products, including but not
limited to, expectations for success of the new ICL, KS-SP and nanoFLEX Toric
IOL products in the U.S. or international markets or government approval of
new products; future economic conditions or size of market opportunities;
expected savings from business consolidation plans and the timetable for those
plans; statements of belief; and any statements of assumptions underlying any
of the foregoing.

These statements are based on expectations and assumptions as of the date of
this press release and are subject to numerous risks and uncertainties, which
could cause actual results to differ materially from those described in the
forward-looking statements. The risks and uncertainties include the following:
our limited capital resources and limited access to financing; the negative
effect of unstable global economic conditions on sales of products, especially
products such as the ICL used in non-reimbursed elective procedures; the
challenge of managing our foreign subsidiaries; backlog as we prepare for our
manufacturing facility consolidation; the risk of unfavorable changes in
currency exchange rate; the discretion of regulatory agencies to approve or
reject new products, or to require additional actions before approval;
unexpected costs or delays that could reduce or eliminate the expected
benefits of our consolidation plans; the risk that research and development
efforts will not be successful or may be delayed in delivering for launch; the
purchasing patterns of our distributors carrying inventory in the market; the
willingness of surgeons and patients to adopt a new product and procedure;
patterns of Visian ICL use that have typically limited our penetration of the
refractive surgery market, and a general decline in the demand for refractive
surgery particularly in the U.S. and the Asia Pacific region, which STAAR
believes has resulted from both concerns about the safety and effectiveness of
laser procedures and current economic conditions. The Visian Toric ICL and
the Visian ICL with CentraFLOW are not yet approved for sale in the United
States.

CONTACT: Investors                  Media
         EVC Group                   EVC Group
         Douglas Sherk, 415-652-9100 Amy Phillips, 412-327-9499
         Leigh Salvo, 415-568-9348

SOURCE STAAR Surgical Company

Website: http://www.staar.com
 
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