Staar Surgical Co. said sales of its implantable contact lens rose about 52 percent in the third quarter, primarily due to greater overseas demand.
The Monrovia ophthalmic products maker is scheduled to report its fiscal third quarter, which ended Sept. 26, on Oct. 28 but pre-released sales figures on Monday.
The company's Visian ICL lens is used to correct nearsightedness, farsightedness and astigmatism. The company said international sales grew 65 percent as Visian ICL increased market share. Though laser vision correction procedures continue to decline in the United States, Staar said Visian revenue here increased 25 percent.
The lens was only approved by the U.S. Food and Drug Administration in December 2005, but has been available overseas for more than 17 years.
The company's forecasts suggest about $1.3 million in U.S. revenue and $3.7 million in sales overseas, according to analysts. U.S. sales of the product had been relatively flat since it was introduced.
Staar shares were down 16 cents, or 5 percent, to $4.07 in morning trading on the Nasdaq.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Sales Boost Staar Surgical’s Quarter
- Overseas Sales Boost Starr Surgical's Quarter
- Staar Surgical Misses Wall Street Profit Estimates
- Staar's Lens Approved by FDA
- Staar's Stock Price Surging On OK of Medical Devices
- Contact Lens Maker Focuses on Improving Image
- Japan Approves Staar Surgical’s Lens for Astigmatism
- Seeing Brighter Future