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Home » Staar Surgical rises on 44% sales growth in Q1 result

Staar Surgical rises on 44% sales growth in Q1 result

May 6, 2021 By Danielle Kirsh

Staar SurgicalStaar Surgical (NSDQ:STAA) posted first-quarter results that beat the overall consensus on Wall Street.

The Lake Forest, Calif.-based implantable eye lenses company yesterday reported profits of $4.99 million, or 10¢ per share, on sales of $50.75 million for the three months ended April 2, for a sales growth of 44.24% compared with Q1 2020.

Adjusted to exclude one-time items, earnings per share were 20¢, 17¢ ahead of The Street, where analysts were looking for sales of $44.26 million.

“Every major market delivered outstanding performance during the first quarter of 2021, providing a record-breaking quarterly achievement of net sales of $50.8 million. First-quarter ICL sales of $46.5 million and unit growth of 54% continued the increasing momentum from second half 2020 results and represents a return to the strong demand for ICL lenses we experienced in January 2020 prior to the pandemic taking hold,” president and CEO Caren Mason said in a news release.

Staar Surgical did not provide a financial outlook for the fiscal year 2021.

STAA shares were up more than 6% to $1132.82 apiece in morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was down slightly.

Filed Under: MassDevice Earnings Roundup, Optical/Ophthalmic, Vision, Wall Street Beat Tagged With: STAAR Surgical Co

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About Danielle Kirsh

Danielle Kirsh is an award-winning journalist and senior editor for Medical Design & Outsourcing, MassDevice, and Medical Tubing + Extrusion, and the founder of Women in Medtech and lead editor for Big 100. She received her bachelor's degree in broadcast journalism and mass communication from Norfolk State University and is pursuing her master's in global strategic communications at the University of Florida. You can connect with her on Twitter and LinkedIn, or email her at [email protected].

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