STAAR Surgical shoots 21% post Q1 results

|About: STAAR Surgical Company (STAA)|By:, SA News Editor

STAAR Surgical (STAA +21.5%) reports Q1 revenue growth of 33.1% Y/Y to $27.1M & Adj. net income of $1.8M (+212.5% Y/Y).

Sales by region: North America $2.1M (-7.9%Y/Y); Europe, Middle East, Africa, Latin America $8.5M (+25.9%Y/Y) & Asia Pacific $16.5M (+45.6%Y/Y).

Product sales: ICLs $21.2M (+38.6%Y/Y); IOLs $4.1M (-11.9%Y/Y); Injector Parts & other $1.9M (+296.8%Y/Y).

Gross margin was marginally up 10 bps to 71.7% & Cash & equivalents of $20.9M (+12.4% Q/Q).

“We will continue to make investments in clinical studies, regulatory, commercial operations infrastructure and consumer outreach that will support the growth of our ICL family." said Caren Mason, President & CEO.

Previously: STAAR Surgical beats by $0.08, beats on revenue (May 2)

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