STAAR Surgical (NASDAQ: STAA) reported Q3 EPS of $0.07, $0.10 better than the analyst estimate of ($0.03). Revenue for the quarter came in at $31.8 million versus the consensus estimate of $29.02 million.

• Net Sales of $31.8 Million Up 35% from the Prior Year Quarter
• ICL Sales Up 46% and Units Up 56% from the Prior Year Quarter
• Gross Margin at 75.1% of Sales from 71.8% of Sales in the Prior Year Quarter
• Earnings per Share of $0.03 versus Earnings per Share of $0.03 in the Prior Year Quarter
• Non-GAAP Earnings per Share of $0.07 versus Earnings per Share of $0.04 in the Prior Year Quarter
• Cash, Cash Equivalents and Restricted Cash of $102.3 Million at Quarter End
• The STAAR Visian® Toric ICL for Myopia received FDA Approval on September 13, 2018.

"STAAR’s operating momentum continued during the third quarter resulting in an increase in sales of 35% over the prior year driven by the growth of our EVO Visian ICL™ family of lenses,” said Caren Mason, President and CEO. “ICL unit growth highlights for the quarter included China up 100%, Japan up 95%, India up 27% and Germany up 20%. We continue to see strengthening in our key international markets as we prepare for Europe’s and Korea’s high implant season beginning this quarter and extending into Q1 2019 with strong trends continuing in our Asian markets as well. In addition, we believe our full year fiscal 2018 sales growth should exceed 30% over 2017, based on current market conditions, and we fully expect to maintain GAAP profitability for the year.”

“We are also pleased to report that implants have begun and the staged rollout of our Toric ICL lens in the U.S. with certified surgeons is in progress and ahead of schedule. Based upon the enthusiastic reception from prominent surgeons to the Toric ICL, we anticipate that this product introduction represents a positive re-entry point for STAAR in the U.S., the world’s second largest market for refractive vision correction procedures. Finally, outside the U.S. our multi-site EVO with Aspheric (EDOF) Optic clinical trial for presbyopia is ongoing. Our Principal Investigator from the initial first-in-person clinical trial of the EVO with Aspheric (EDOF) Optic lens for presbyopia presented his study data during our invitation only Experts Summit for surgeons held immediately ahead of the European Society of Cataract and Refractive Surgeons (ESCRS) meeting in Vienna last month. We are very pleased with the enthusiastic reception his presentation received,” concluded Ms. Mason.

For earnings history and earnings-related data on STAAR Surgical (STAA) click here.