Shares of STAA dipped 4.4% at $67.50 apiece after the market closed today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished the day down 0.3%.
The Lake Forest, California-based ocular implant company posted profits of $10.3 million for the quarter. That amounts to 21¢ per share on sales of $76 million for the three months ended Sept. 30, 2022.
Staar Surgical reported a 70.5% bottom-line gain on sales growth of 30.3%. Increased costs associated with manufacturing projects offset strong profits for Staar. Meanwhile, changes in currency, primarily in the Japanese Yen as well as the Euro, negatively impacted sales.
EVO ICL sales growth bolstered the company’s performance despite macroeconomic headwinds.