MONROVIA, Calif., Jan. 11, 2011 /PRNewswire/ -- STAAR Surgical Company (Nasdaq: STAA), a leading developer, manufacturer and marketer of minimally invasive ophthalmic products, today announced that it expects revenue for the fourth quarter ended December 31, 2010 to exceed $14.2 million. Revenues for the full year were approximately $55 million, a 7% increase over 2009 revenues, driven by an increase of approximately 10% in revenues from the core ICL and IOL product lines. The Company expects to announce its fourth quarter and full year 2010 results on March 1, 2011.
"Our estimated fourth quarter revenues were driven by strong growth in the Visian ICL product lines, which achieved a record in both revenues and units," said Barry G. Caldwell, president and CEO of STAAR Surgical. "Expected ICL revenues were up approximately 13% from the prior year's fourth quarter and 8% from the previous third quarter 2010 record. Unit volume grew approximately 20% from the fourth quarter last year. During the quarter, approximately 10% of our ICL sales in our recently introduced expanded range Visian ICL models were in segments where we have not previously participated, specifically low myopes and toric hyperopes. This demonstrates the demand and opportunity for the expanded treatment range, which received CE Mark approval during late third quarter. The strong growth for the Visian ICL continued in China, India and the Middle East during the quarter, and revenues in Japan began to reflect our extremely positive efforts in that market."
STAAR also announced that it has received approval from the Japanese Ministry of Health, Labor and Welfare (MHLW) to market its KS-X2 Preloaded Single Piece Hydrophobic Acrylic Injector System in Japan. STAAR has been offering the three-piece KS-X system in Japan for two years and in selective CE Mark countries f