STAAR Surgical Company (NASDAQ:STAA) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
STAAR Surgical Company Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.05 in the quarter versus EPS of $-0.01 in the year-earlier quarter.
Revenue: Rose 14.18% to $18.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: STAAR Surgical Company reported adjusted EPS income of $0.05 per share. By that measure, the company beat the mean analyst estimate of $0.02. It beat the average revenue estimate of $17.38 million.
Quoting Management: “We delivered a second consecutive quarter of solid revenue growth with some very positive trends that we believe can be built on over the next several quarters,” said Barry Caldwell, President and CEO. “In our focused major markets, our Visian ICL continues to gain share over LASIK. We have now successfully implanted over 20,000 ICLs with CentraFLOW and this technology continues to be a key growth driver. During June we received approval of the ICL with CentraFLOW in Argentina and Korea. The ICL with CentraFLOW launch events took place this month in Korea and also in India where we now expect to receive the final product approval during the third quarter. Based upon our experience in Europe, the wider approval range of the Visian ICL with CentraFLOW opens up the refractive market for increased market share gains.”
Key Stats (on next page)…
EPS increased 400% from $0.01 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.01 to a profit $0.02. For the current year, the average estimate has moved up from a profit of $0.05 to a profit of $0.09 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)