\nSTAAR Surgical Company (NASDAQ: STAA), a leading developer, manufacturer and marketer of implantable lenses for the eye, today reported financial results for the first quarter ended March 31, 2023.<\/p>\n
First Quarter 2023 Overview<\/span><\/b><\/p>\n \n\u201cSTAAR\u2019s performance in the first quarter demonstrates the global strength of our business with ICL units and sales both up 20% over the prior year as surgeons and patients seeking visual freedom from glasses and contact lenses increasingly make our EVO ICL lenses their first choice,\u201d said Tom Frinzi, President and CEO of STAAR Surgical. \u201cStrength in our business during the quarter was broad-based across APAC, EMEA and the U.S. In China, ICL procedure volumes increased strongly in the first quarter of 2023 with end-market procedures reaching a record level. We are maintaining a keen focus on execution against our targeted priorities and anticipate accelerating sales momentum as we move through the year. We are therefore raising our outlook for fiscal 2023 net sales from $340 million to approximately $348 million, which includes approximately $3 million of Other Product sales in the first quarter. Our updated outlook represents 28% global ICL sales growth year over year.\u201d<\/p>\n Financial Overview \u2013 Q1 2023<\/span><\/b><\/p>\n \nNet sales were $73.5 million for the first quarter of 2023, up 16% compared to $63.2 million reported in the prior year quarter. Changes in currency, primarily the Japanese Yen as well as the Euro, negatively impacted reported net sales by $2.0 million for the first quarter of 2023. The sales increase in the first quarter was driven by ICL sales and unit growth which were each 20%, as compared to the prior year period. Other Product sales decreased 36% compared to the prior year quarter. ICL sales were 96% of total net sales for the first quarter of 2023.<\/p>\n \nGross profit margin for the first quarter of 2023 was 78.3% compared to the prior year quarter of 77.9%. Factors impacting the favorability in gross margin in the first quarter of 2023, as compared to the prior year quarter, include product and geographic mix, partially offset by increased period costs associated with manufacturing projects.<\/p>\n \nOperating expenses for the first quarter of 2023 were $54.8 million compared to the prior year quarter of $37.2 million. General and administrative expenses were $18.1 million compared to the prior year quarter of $11.9 million. The increase in general and administrative expenses was due to increased compensation related expenses, outside services and facilities costs. Selling and marketing expenses were $26.4 million compared to the prior year quarter of $17.3 million. The increase in selling and marketing expenses is due to increased advertising and promotional activities, compensation related expenses and trade shows and sales meetings. Research and development expenses were $10.3 million compared to the prior year quarter of $7.9 million. The increase in research and development expenses is due to increased compensation related expenses and clinical trial expenses related to U.S. post-approval studies.<\/p>\n \nNet income for the first quarter of 2023 was $2.7 million or $0.05 per diluted share compared with net income of $9.6 million or $0.19 per diluted share for the prior year quarter. The year over year decrease in net income is attributable to higher operating expenses partially offset by higher gross profit and interest income. Adjusted Net Income for the first quarter of 2023 was $8.7 million or $0.18 per diluted share compared to $14.4 million or $0.29 per diluted share for the prior year quarter. The reconciliation between GAAP and non-GAAP financial information is provided in the financial tables included with this release.<\/p>\n \nCash, cash equivalents, short-term and long-term investments available for sale at March 31, 2023, totaled $217.3 million, compared to $225.5 million at end of the fourth quarter of 2022.<\/p>\n Conference Call<\/span><\/b><\/p>\n \nThe Company will host a conference call and webcast today, Wednesday, May 3 at 4:30 p.m. Eastern \/ 1:30 p.m. Pacific to discuss its financial results and operational progress. To access the conference call (Access Code 835957), please dial 833-470-1428 for domestic participants and 404-975-4839 for international participants. The live webcast can be accessed from the investor relations section of the STAAR website at www.staar.com<\/a>.<\/p>\n \nA taped replay of the conference call (Replay Code 208036) will be available beginning approximately one hour after the call\u2019s conclusion for seven days. This replay can be accessed by dialing 866-813-9403 for domestic callers and 929-458-6194 for international callers. An archived webcast will also be available at www.staar.com<\/a>.<\/p>\n Use of Non-GAAP Financial Measures<\/span><\/b><\/p>\n \nThis press release includes supplemental non-GAAP financial information, which STAAR believes investors will find helpful in understanding its operating performance. \u201cAdjusted Net Income\u201d excludes the following items that are included in \u201cNet Income\u201d as calculated in accordance with U.S. generally accepted accounting principles (\u201cGAAP\u201d): gain or loss on foreign currency transactions, stock-based compensation expenses, and valuation allowance adjustments. Management believes that \u201cAdjusted Net Income\u201d is useful to investors in gauging the outcome of the key drivers of the business performance: the ability to increase sales revenue and our ability to increase profit margin by improving the mix of high value products while reducing the costs over which management has control.<\/p>\n \nManagement has excluded gains and losses on foreign currency transactions because of the significant fluctuations that can result from period to period as a result of market driven factors. Stock-based compensation expenses consist of expenses for stock options and restricted stock under the Financial Accounting Standards Board\u2019s Accounting Standards Codification (ASC) 718. Valuation allowance adjustments can occur from time to time based on forecasted changes in operating results until all net operating loss carryforwards are fully utilized. In calculating Adjusted Net Income, STAAR excludes stock-based compensation expenses and valuation allowance adjustments because they are non-cash expenses and because of the considerable judgment involved in calculating their values. In addition, these expenses tend to be driven by fluctuations in the price of our stock and not by the same factors that generally affect our other business expenses.<\/p>\n \nThe Company also uses Constant Currency as a Non-GAAP financial measure to exclude the effects of currency fluctuations on net sales. The Company conducts a significant part of its activities outside the U.S. It receives sales revenue and pays expenses principally in U.S. dollars, Swiss francs, Japanese yen and euros. The exchange rates between dollars and non-U.S. currencies can fluctuate greatly and can have a significant effect on the Company\u2019s results when reported in U.S. dollars. In order to compare the Company’s performance from period to period without the effect of currency, the Company will apply the same average exchange rate applicable in the prior period, or the “constant currency” rate to sales or expenses in the current period as well. Because changes in currency are outside of the control of the Company and its managers, management finds this non-GAAP measure useful in determining the long-term progress of its initiatives and determining whether its managers are achieving their performance goals. The Company believes that the non-GAAP constant-currency sales results measures provided in this press release are similarly useful to investors to give insight on long term trends in the Company’s performance without the external effect of changes in relative currency values. The table provided in this press release shows sales results calculated in accordance with GAAP, the effect of currency, and the resulting non-GAAP measure expressed in constant currency.<\/p>\n About STAAR Surgical<\/span><\/b><\/p>\n \nSTAAR, which has been dedicated solely to ophthalmic surgery for over 40 years, designs, develops, manufactures and markets implantable lenses for the eye. These lenses are intended to provide visual freedom for patients, lessening or eliminating the reliance on glasses or contact lenses. All of these lenses are foldable, which permits the surgeon to insert them through a small incision. STAAR\u2019s lens used in refractive surgery is called an Implantable Collamer\u00ae Lens or \u201cICL,\u201d which includes the EVO ICL\u2122 product line. More than 2,000,000 ICLs have been sold to date and STAAR markets these lenses in over 75 countries. To learn more about the ICL go to: EVOICL.com<\/a>. Headquartered in Lake Forest, CA, the company operates manufacturing and packaging facilities in Aliso Viejo, CA, Monrovia, CA and Nidau, Switzerland. For more information, please visit the Company\u2019s website at www.staar.com<\/a>.<\/p>\n Safe Harbor<\/span><\/b><\/p>\n \nAll statements that are not statements of historical fact are forward-looking statements, including statements about any of the following: any financial projections (including sales), plans, strategies, and objectives of management for 2023 or prospects for achieving such plans, expectations for sales, revenue, margin, expenses or earnings, and any statements of assumptions underlying any of the foregoing, including those relating to financial performance in the second quarter and fiscal year 2023. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include risks and uncertainties related to the COVID-19 pandemic and related public health measures, as well as the factors set forth in the Company\u2019s Annual Report on Form 10-K for the year ended December 30, 2022 under the caption \u201cRisk Factors,\u201d which is on file with the Securities and Exchange Commission and available in the \u201cInvestor Information\u201d section of the company\u2019s website under the heading \u201cSEC Filings.\u201d We disclaim any intention or obligation to update or revise any financial projections or forward-looking statement due to new information or events. These statements are based on expectations and assumptions as of the date of this press release and are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. The risks and uncertainties include the following: global economic conditions; the impact of the COVID-19 pandemic on markets; the discretion of regulatory agencies to approve or reject existing, new or improved products, or to require additional actions before approval, or to take enforcement action; international trade disputes; and the willingness of surgeons and patients to adopt a new or improved product and procedure.<\/p>\n \n$<\/p>\n<\/td>\n \n89,968<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n86,480<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n113,879<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n125,159<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n63,494<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n62,447<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n27,808<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 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\n77.9%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n49,264<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,298<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n16.8%<\/p>\n<\/td>\n<\/tr>\n \n24.7%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n18,098<\/p>\n<\/td>\n \n18.9%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n11,940<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(6,158<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n-51.6%<\/p>\n<\/td>\n<\/tr>\n \n35.8%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n26,354<\/p>\n<\/td>\n \n27.3%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n17,270<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(9,084<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n-52.6%<\/p>\n<\/td>\n<\/tr>\n \n14.0%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,310<\/p>\n<\/td>\n \n12.6%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n7,941<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2,369<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n-29.8%<\/p>\n<\/td>\n<\/tr>\n \n74.5%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n54,762<\/p>\n<\/td>\n \n58.8%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n37,151<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(17,611<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n-47.4%<\/p>\n<\/td>\n<\/tr>\n \n3.8%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,800<\/p>\n<\/td>\n \n19.1%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n12,113<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(9,313<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n-76.9%<\/p>\n<\/td>\n<\/tr>\n \n2.5%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,822<\/p>\n<\/td>\n \n0.0%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(6<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,828<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n30466.7%<\/p>\n<\/td>\n<\/tr>\n \n0.0%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n34<\/p>\n<\/td>\n \n-1.4%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(915<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n949<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n103.7%<\/p>\n<\/td>\n<\/tr>\n \n0.0%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0<\/p>\n<\/td>\n \n0.4%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n273<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(273<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n-100.0%<\/p>\n<\/td>\n<\/tr>\n \n0.1%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n63<\/p>\n<\/td>\n \n0.1%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n62<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1.6%<\/p>\n<\/td>\n<\/tr>\n \n2.6%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,919<\/p>\n<\/td>\n \n-0.9%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(586<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,505<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n427.5%<\/p>\n<\/td>\n<\/tr>\n \n6.4%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,719<\/p>\n<\/td>\n \n18.2%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n11,527<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(6,808<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n-59.1%<\/p>\n<\/td>\n<\/tr>\n \n2.7%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,009<\/p>\n<\/td>\n \n3.0%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,925<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(84<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n-4.4%<\/p>\n<\/td>\n<\/tr>\n \n3.7%<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,710<\/p>\n<\/td>\n \n15.2%<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n9,602<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(6,892<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n-71.8%<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n0.06<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.20<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.05<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.19<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n48,247<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n47,755<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n49,500<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n49,288<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,710<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n9,602<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n1,113<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n994<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n7<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(983<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n57<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(13<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n41<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n6,065<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,894<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(377<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(194<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n614<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n434<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(1,110<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(3,927<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(3,920<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,483<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(4,249<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(4,505<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(3,168<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,668<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(1,840<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(12,142<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(5,094<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(4,610<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(2,901<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2,539<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(27,445<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n40,279<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n9,933<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2,539<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(42<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(18<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(1,849<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n530<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n912<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(1,361<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n894<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n10<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(384<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n3,488<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(6,639<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n86,480<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n199,706<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n89,968<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n193,067<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n$<\/p>\n<\/td>\n \n2,710<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n9,602<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(34<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n915<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n6,065<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,894<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n8,741<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n14,411<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n0.06<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.20<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.02<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n0.13<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.08<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n0.18<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.30<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n0.05<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.19<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.02<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n0.12<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.08<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n0.18<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.29<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n48,247<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n47,755<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n49,500<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n49,288<\/p>\n<\/td>\n<\/tr>\n March 31, Effect of<\/b><\/p>\n<\/td>\n Constant<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n April 1, \n\u00a0<\/p>\n<\/td>\n As Reported<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Constant Currency<\/b><\/p>\n<\/td>\n<\/tr>\n Currency<\/b><\/p>\n<\/td>\n Currency<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $ Change<\/b><\/p>\n<\/td>\n % Change<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $ Change<\/b><\/p>\n<\/td>\n % Change<\/b><\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n70,625<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,726<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n72,351<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n58,675<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n11,950<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n20.4%<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n13,676<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n23.3%<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n1,476<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n157<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,633<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,902<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,426<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n-49.1%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,269<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n-43.7%<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n1,427<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n127<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,554<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,623<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(196<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n-12.1%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(69<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n-4.3%<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n2,903<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n284<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,187<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,525<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,622<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n-35.8%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,338<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n-29.6%<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n73,528<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,010<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n75,538<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n63,200<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n10,328<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n16.3%<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n12,338<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n19.5%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u00a0<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230503005843\/en\/<\/a><\/span><\/p>\n Investors and Media KEYWORDS:<\/b> California United States North America<\/p>\n INDUSTRY KEYWORDS:<\/b> Optical Health Surgery Medical Devices<\/p>\n\n
\n
\n Consolidated Balance Sheets<\/b><\/td>\n \n \n \n <\/tr>\n \n (in 000’s)<\/b><\/td>\n \n \n \n <\/tr>\n \n Unaudited<\/b><\/td>\n \n \n \n <\/tr>\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n ASSETS<\/b><\/td>\n \n March 31,
2023<\/b><\/td>\n\n December 30,
2022<\/b><\/td>\n<\/tr>\n\n Current assets:<\/td>\n \n \n \n <\/tr>\n \n Cash and cash equivalents<\/td>\n \n \n \n \n \n \n \n \n \n Investments available for sale<\/td>\n \n \n \n \n \n \n \n \n \n Accounts receivable trade, net<\/td>\n \n \n \n \n \n \n \n \n \n Inventories, net<\/td>\n \n \n \n \n \n \n \n \n \n Prepayments, deposits, and other current assets<\/td>\n \n \n \n \n \n \n \n \n \n Total current assets<\/td>\n \n \n \n \n \n \n \n \n \n Investments available for sale<\/td>\n \n \n \n \n \n \n \n \n \n Property, plant, and equipment, net<\/td>\n \n \n \n \n \n \n \n \n \n Finance lease right-of-use assets, net<\/td>\n \n \n \n \n \n \n \n \n \n Operating lease right-of-use assets, net<\/td>\n \n \n \n \n \n \n \n \n \n Intangible assets, net<\/td>\n \n \n \n \n \n \n \n \n \n Goodwill<\/td>\n \n \n \n \n \n \n \n \n \n Deferred income taxes<\/td>\n \n \n \n \n \n \n \n \n \n Other assets<\/td>\n \n \n \n \n \n \n \n \n \n Total assets<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n LIABILITIES AND STOCKHOLDERS’ EQUITY<\/b><\/td>\n \n \n \n <\/tr>\n \n Current liabilities:<\/td>\n \n \n \n <\/tr>\n \n Accounts payable<\/td>\n \n \n \n \n \n \n \n \n \n Obligations under finance leases<\/td>\n \n \n \n \n \n \n \n \n \n Obligations under operating leases<\/td>\n \n \n \n \n \n \n \n \n \n Allowance for sales returns<\/td>\n \n \n \n \n \n \n \n \n \n Other current liabilities<\/td>\n \n \n \n \n \n \n \n \n \n Total current liabilities<\/td>\n \n \n \n \n \n \n \n \n \n Obligations under finance leases<\/td>\n \n \n \n \n \n \n \n \n \n Obligations under operating leases<\/td>\n \n \n \n \n \n \n \n \n \n Deferred income taxes<\/td>\n \n \n \n \n \n \n \n \n \n Asset retirement obligations<\/td>\n \n \n \n \n \n \n \n \n \n Pension liability<\/td>\n \n \n \n \n \n \n \n \n \n Total liabilities<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Stockholders’ equity:<\/td>\n \n \n \n <\/tr>\n \n Common stock<\/td>\n \n \n \n \n \n \n \n \n \n Additional paid-in capital<\/td>\n \n \n \n \n \n \n \n \n \n Accumulated other comprehensive income (loss)<\/td>\n \n \n \n \n \n \n \n \n \n Accumulated deficit<\/td>\n \n \n \n \n \n \n \n \n \n Total stockholders’ equity<\/td>\n \n \n \n \n \n \n \n \n \n Total liabilities and stockholders’ equity<\/td>\n \n \n \n \n \n \n \n \n \n
\n Consolidated Statements of Income<\/b><\/td>\n \n \n \n \n \n \n \n \n \n <\/tr>\n \n (In 000’s except for per share data)<\/b><\/td>\n \n \n \n \n \n \n \n \n \n <\/tr>\n \n Unaudited<\/b><\/td>\n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n Three Months Ended<\/b><\/td>\n<\/tr>\n \n \n \n % of<\/b><\/td>\n March 31, 2023<\/b><\/td>\n \n % of<\/b><\/td>\n April 1, 2022<\/b><\/td>\n \n Fav (Unfav)<\/b><\/td>\n<\/tr>\n \n \n \n Sales<\/b><\/td>\n \n Sales<\/b><\/td>\n \n Amount<\/b><\/td>\n \n %<\/b><\/td>\n<\/tr>\n \n Net sales<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Cost of sales<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Gross profit<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Selling, general and administrative expenses:<\/td>\n \n \n \n \n \n \n \n \n \n <\/tr>\n \n General and administrative<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Selling and marketing<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Research and development<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Total selling, general, and administrative expenses<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Operating income<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Other income (expense), net:<\/td>\n \n \n \n \n \n \n \n \n \n <\/tr>\n \n Interest income (expense), net<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Gain (loss) on foreign currency transactions<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Royalty income<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Other income, net<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Total other income (expense), net<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Income before provision for income taxes<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Provision for income taxes<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Net income<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Net income per share – basic<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n Net income per share – diluted<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Weighted average shares outstanding – basic<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n Weighted average shares outstanding – diluted<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n<\/table>\n \n
\n Consolidated Statements of Cash Flows<\/b><\/td>\n \n \n \n <\/tr>\n \n (in 000’s)<\/b><\/td>\n \n \n \n <\/tr>\n \n Unaudited<\/b><\/td>\n \n \n \n <\/tr>\n \n \n \n Three Months Ended<\/b><\/td>\n<\/tr>\n \n \n \n March 31, 2023<\/b><\/td>\n \n April 1, 2022<\/b><\/td>\n<\/tr>\n \n Cash flows from operating activities:<\/td>\n \n \n \n <\/tr>\n \n Net income<\/td>\n \n \n \n \n \n \n \n \n \n Adjustments to reconcile net income to net cash used in operating activities:<\/td>\n \n \n \n <\/tr>\n \n Depreciation of property and equipment<\/td>\n \n \n \n \n \n \n \n \n \n Amortization of long-lived intangibles<\/td>\n \n \n \n \n \n \n \n \n \n Accretion\/Amortization of investments available for sale<\/td>\n \n \n \n \n \n \n \n \n \n Deferred income taxes<\/td>\n \n \n \n \n \n \n \n \n \n Change in net pension liability<\/td>\n \n \n \n \n \n \n \n \n \n Stock-based compensation expense<\/td>\n \n \n \n \n \n \n \n \n \n Provision for sales returns and bad debts<\/td>\n \n \n \n \n \n \n \n \n \n Inventory provision<\/td>\n \n \n \n \n \n \n \n \n \n Changes in working capital:<\/td>\n \n \n \n <\/tr>\n \n Accounts receivable<\/td>\n \n \n \n \n \n \n \n \n \n Inventories<\/td>\n \n \n \n \n \n \n \n \n \n Prepayments, deposits and other current assets<\/td>\n \n \n \n \n \n \n \n \n \n Accounts payable<\/td>\n \n \n \n \n \n \n \n \n \n Other current liabilities<\/td>\n \n \n \n \n \n \n \n \n \n Net cash used in operating activities<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Cash flows from investing activities:<\/td>\n \n \n \n <\/tr>\n \n Acquisition of property and equipment<\/td>\n \n \n \n \n \n \n \n \n \n Purchase of investments available for sale<\/td>\n \n \n \n \n \n \n \n \n \n Proceeds from sale or maturity of investments available for sale<\/td>\n \n \n \n \n \n \n \n \n \n Net cash provided by (used in) investing activities<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Cash flows from financing activities:<\/td>\n \n \n \n <\/tr>\n \n Repayment of finance lease obligations<\/td>\n \n \n \n \n \n \n \n \n \n Repurchase of employee common stock for taxes withheld<\/td>\n \n \n \n \n \n \n \n \n \n Proceeds from vested restricted stock and exercise of stock options<\/td>\n \n \n \n \n \n \n \n \n \n Net cash provided by (used in) financing activities<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Effect of exchange rate changes on cash and cash equivalents<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Increase (decrease) in cash and cash equivalents<\/td>\n \n \n \n \n \n \n \n \n \n Cash and cash equivalents, at beginning of the period<\/td>\n \n \n \n \n \n \n \n \n \n Cash and cash equivalents, at end of the period<\/td>\n \n \n \n \n \n \n \n \n \n
\n Reconciliation of Non-GAAP Financial Measure<\/b><\/td>\n \n \n \n <\/tr>\n \n Adjusted Net Income and Net Income Per Share<\/b><\/td>\n \n \n \n <\/tr>\n \n (in 000’s)<\/b><\/td>\n \n \n \n <\/tr>\n \n Unaudited<\/b><\/td>\n \n Three Months Ended<\/b><\/td>\n<\/tr>\n \n \n \n March 31, 2023<\/b><\/td>\n \n April 1, 2022<\/b><\/td>\n<\/tr>\n \n Net income (as reported)<\/td>\n \n \n \n \n \n \n \n \n Less:<\/td>\n \n \n \n <\/tr>\n \n Foreign currency impact<\/td>\n \n \n \n \n \n \n \n \n Stock-based compensation expense<\/td>\n \n \n \n \n \n \n \n \n Net income (adjusted)<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Net income per share, basic (as reported)<\/td>\n \n \n \n \n \n \n \n \n Foreign currency impact<\/td>\n \n \n \n \n \n \n \n \n Stock-based compensation expense<\/td>\n \n \n \n \n \n \n \n \n Net income per share, basic (adjusted)<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Net income per share, diluted (as reported)<\/td>\n \n \n \n \n \n \n \n \n Foreign currency impact<\/td>\n \n \n \n \n \n \n \n \n Stock-based compensation expense<\/td>\n \n \n \n \n \n \n \n \n Net income per share, diluted (adjusted)<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Weighted average shares outstanding – Basic<\/td>\n \n \n \n \n \n \n \n \n Weighted average shares outstanding – Diluted<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Note: Net income per share (adjusted), basic and diluted, may not add due to rounding<\/td>\n<\/tr>\n<\/table>\n \n
\n STAAR Surgical Company<\/b><\/td>\n<\/tr>\n \n Reconciliation of Non-GAAP Financial Measure<\/b><\/td>\n<\/tr>\n \n Constant Currency Sales<\/b><\/td>\n<\/tr>\n \n (in 000’s)<\/b><\/td>\n<\/tr>\n \n Unaudited<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n Three Months Ended<\/b><\/td>\n \n \n \n \n \n \n \n <\/tr>\n \n \n \n
\n
2023<\/b><\/p>\n<\/td>\n\n \n \n \n
\n
2022<\/b><\/p>\n<\/td>\n\n \n \n \n \n Sales<\/b><\/td>\n \n \n \n \n \n \n \n \n \n \n ICL<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Cataract IOL<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Other<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Other Products<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Total Sales<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/p>\n
\n<\/b>
Brian Moore
\n
Vice President, Investor, Media Relations and Corporate Development
\n
(626) 303-7902, Ext. 3023
\n
bmoore@staar.com<\/a><\/p>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20230503005843\/en\/683092\/3\/STAAR_Surgical_Logo.jpg\"){kind=logo}
<\/td>\n<\/tr>\n