STAAR Surgical (NASDAQ: STAA) reported Q4 EPS of $0.07, $0.05 better than the analyst estimate of $0.02. Revenue for the quarter came in at $46 million versus the consensus estimate of $43.85 million.

Fourth Quarter 2020 Overview

• Net Sales of $46.0 Million Up 18% from the Prior Year Quarter
• ICL Sales of $39.8 Million Up 20% from the Prior Year Quarter
• ICL Units Up 13% from the Prior Year Quarter
• Gross Margin at 74.6% vs. 74.1% in the Prior Year Quarter
• Net Income of $0.07 per Share vs. Prior Year Quarter Net Income of $0.14 per Share
• Net Income in Prior Year, Fourth Quarter 2019, included a $0.07 per Share tax benefit
• Cash and Cash Equivalents Ended the Quarter at $152.5 Million

“Our 2020 performance reflects the continued momentum behind STAAR’s commercial growth and product innovation. Consequently, we achieved strong fourth quarter results and met our original sales targets for the second half of 2020, despite the unprecedented global pandemic. Our momentum has continued into the first weeks of 2021,” said Caren Mason, President and CEO of STAAR Surgical. “For the full year 2020 ICL unit growth was up 11% as compared to a 21% decline in industry-wide refractive procedures.1 STAAR’s positive growth affirms the increasing adoption for our EVO ICL family of implantable lenses and illustrates that our lenses continue to capture refractive market share. We believe our lenses are likely to grow the overall market demand for refractive procedures. In 2021 we are confident that our strategies will continue to expand the ICL’s position as a transformational pathway to Visual Freedom for patients seeking a life independent of glasses and frequent replacement contact lenses as we support a lens-based future of refractive vision correction.”

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