STAAR Surgical Company Q1 Profit Increases, beats estimates

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.

Full year revenue guidance: $295 Mln

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