STAAR SURGICAL ANNOUNCES THIRD QUARTER RESULTS
STAAR SURGICAL ANNOUNCES THIRD QUARTER RESULTS MONROVIA, Calif., Nov. 15 /PRNewswire/ -- STAAR Surgical
Company (NASDAQ: STAA) announced an expected loss of $1.6 million or ($.11) per share on reduced sales of $809,000 for the third quarter ended Sept. 30, 1991.
These anticipated results, compared to the previous year's same period results of $1.3 million in sales, and a loss of $366,000, or ($.04) per share. For the nine months ended Sept. 30, 1991, sales and net earnings (losses) were $2.5 million and ($4.5 million) or ($.32) per share, respectively, vs. $3.9 million in sales, and earnings of $7.7 million or $.77 per share for the same period ended Sept. 30, 1990. "Our operating results were about what we anticipated, given the lack of FDA approval through most of the third quarter of this year", stated LaMar F. Laster, chairman and chief operating officer. Following approval of both our premier lenses on Sept. 16 and 17, respectively, our order rates have expanded to the point of requiring the hiring of additional personnel for a second manufacturing shift. Though 1991 will be a loss even with a good fourth quarter, we anticipate that STAAR and its licensees will experience expansive top line sales growth and in STAAR's case a respectable profit at year end 1992", he concluded. STAAR Surgical, a publicly traded company founded in 1982, develops, manufacturers and markets products for small incision surgery, primarily for use in cataract procedures. -0- 11/15/91 /CONTACT: John Wolf or LaMar Laster of STAAR Surgical Company, 818-303-7902/ (STAA) CO: STAAR Surgical Co. ST: California IN: MTC SU: ERN SE -- LA013 -- 1666 11/15/91 15:32 EST
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|Date:||Nov 15, 1991|
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