Staar Surgical (NSDQ:STAA) yesterday posted first-quarter results that beat the overall consensus on Wall Street.
The Lake Forest, Calif.-based company reported profits of $4.99 million, or 10¢ per share, on sales of $50.75 million for the three months ended April 2, for a sales growth of 44.24% compared with Q1 2020.
Adjusted to exclude one-time items, earnings per share were 20¢, 17¢ ahead of The Street, where analysts were looking for sales of $44.26 million.
“Every major market delivered outstanding performance during the first quarter of 2021 providing a record-breaking quarterly achievement of net sales of $50.8 million. First-quarter ICL sales of $46.5 million and unit growth of 54% continued the increasing momentum from second half 2020 results and represents a return to the strong demand for ICL lenses we experienced in January 2020 prior to the pandemic taking hold,” president and CEO Caren Mason said in a news release. “ICL unit growth in the first quarter, year over year, included China up 63%, Japan up 72%, Korea up 29%, Rest of Asia Pacific up 63%, Spain up 42%, Germany up 48%, Distributor Markets in Europe up 54%, and the U.S. up 46%.”
Staar Surgical did not provide a financial outlook for the fiscal year 2021.
Shares in STAA were up 1.80% to $127.01 apiece in pre-market trading.