STAAR Surgical Posts Better Than Expected Preliminary Q4 Revenue

(RTTNews) - STAAR Surgical Co. (STAA) Monday announced its preliminary revenue for the fourth quarter and fiscal 2023. The results were better than its view.

Preliminary quarterly revenue is reported at around $76.5 million and yearly revenue at around $322.5 million.

On average, ten analysts polled by Thomson Reuters had expected revenue of $74.23 million for the quarter and $320.5 million for the year. Analysts' estimates typically exclude special items.

"Fiscal 2023 was a year of positive market share gains, sales growth, and continued profitability for STAAR. Our teams finished the year on a strong note with global ICL sales increasing 22% in the fourth quarter including 26% growth in APAC," said Tom Frinzi, CEO of STAAR Surgical.

Further, the company expects net sales for fiscal 2024 to be around $335 million to $340 million. The Street view for revenue is $366.8 million.

The complete fourth quarter and fiscal year results are expected on or about February 21.

In pre-market activity, STAAR Surgical shares are trading at $27.71, down 2.76% on the Nasdaq.