STAAR Surgical Company Q1 Profit Increases, beats estimates

(RTTNews) - STAAR Surgical Company (STAA) announced earnings for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $9.6 million, or $0.19 per share. This compares with $4.9 million, or $0.10 per share, in last year's first quarter.

Excluding items, STAAR Surgical Company reported adjusted earnings of $14.4 million or $0.29 per share for the period.

Analysts on average had expected the company to earn $0.08 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 24.4% to $63.2 million from $50.8 million last year.

STAAR Surgical Company earnings at a glance (GAAP) :

-Earnings (Q1): $9.6 Mln. vs. $4.9 Mln. last year. -EPS (Q1): $0.19 vs. $0.10 last year. -Analyst Estimate: $0.08 -Revenue (Q1): $63.2 Mln vs. $50.8 Mln last year.

-Guidance: Full year revenue guidance: $295 Mln