Staar Surgical rises on 44% sales growth in Q1 result

May 6, 2021 By Danielle Kirsh

Staar 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.

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