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STAAR Surgical lenses sale in China up 39% in August, reaffirms Q3 guidance

September 2, 2020

STAAR Surgical (STAA +1.1%) reaffirms Q3 outlook in a filing ahead of investor conference. The guidance was first disclosed in the second quarter conference call where executives said “for Q3 the company currently anticipates a sequential revenue increase of at least 20% from our Q2 results, which would then result in year-over-year, double digit growth for the quarter.”

2Q20 net sales was $35.2M (-11% Y/Y).

The eye care company further expects to complete U.S. EVO clinical trial enrollment this month and launch EVO VIVA lens in beginning 3Q20.

“At this point we expect fourth quarter revenue will be very similar to third quarter as high volume seasonality tapers off in China, but we see traditional seasonal increases in our other markets,” said president and CEO Caren Mason in 2Q20 earnings conference call.

With presence in 75 countries, the company has recorded highest growth for its implantable collamer lens units in Japan (+65% Y/Y).

For the month of August and July, lenses sold to clinicians in China increased 39% and 34% Y/Y, respectively.

Have a look at the company’s financial performance in the last 5 years. 

Previously: STAAR Surgical EPS beats by $0.02, misses on revenue (Aug. 5)

https://seekingalpha.com/news/3610949-staar-surgical-lenses-sale-in-china-up-39-in-august-reaffirms-q3-guidance

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