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STAAR SURGICAL PROVIDES PRELIMINARY FIRST QUARTER REVENUE RESULTS Visian ICL Revenue Increase Approximately 24%, a Record Quarterly High Total Revenue Increase Approximately 16% to $18 Million MONROVIA, CA

Key Takeaway: STAAR SURGICAL PROVIDES PRELIMINARY FIRST QUARTER REVENUE RESULTS Visian ICL Revenue Increase Approximately 24%, a Record Quarterly High Total Revenue Increase Approximately MONROVIA, CA, April 8, 2013 -- STAAR Surgical Company (NASDAQ: STAA), a leading developer, manufactu

Full Press Release Details

STAAR SURGICAL PROVIDES PRELIMINARY FIRST
QUARTER REVENUE RESULTS
Visian ICL Revenue Increase
Approximately 24%, a Record Quarterly High
Total Revenue Increase Approximately
MONROVIA, CA, April 8, 2013 -- STAAR Surgical Company (NASDAQ:
STAA), a leading developer, manufacturer and marketer of minimally invasive ophthalmic products, today announced
that first quarter revenue is expected to be approximately $18 million, which would represent approximately 16% growth. All revenue
comparisons are to the same period prior year results. The effect of foreign currency exchange reduced total company revenue
by approximately $750,000 during the quarter. Visian ICL revenue grew approximately 24%, exceeding the
$10 million level in quarterly revenue for the first time in the Company's history. STAAR is
reporting the preliminary results due to previously scheduled meetings with investors on April 11-12 and the upcoming American
Society of Cataract and Refractive Surgeons Annual Conference. Final results for the first quarter are expected to be released
"Our year is off to a good start, despite currency exchange
and backorder challenges," said Barry G. Caldwell, President & CEO. "Visian ICL revenue grew in 10 of our 11 targeted
markets during the quarter allowing us to achieve a quarterly revenue record for the product line. In Europe, revenue increased
approximately 57%, reflecting the growing acceptance of our new ICL CentraFLOW technology as well as the impact of an expanded
sales team in the region. The CentraFLOW technology simplifies the ICL treatment by making it a one-step procedure, which is more
convenient and cost effective for both the patient and surgeon. We are encouraged by the market demand we are generating for this
high margin product while LASIK volume seems to be under pressure globally. We continue to expect regulatory approval for the CentraFLOW
technology in Korea and India later this year. Visian ICL revenue grew in the U.S. by approximately 12% in the first quarter, likely
due to our on-going marketing, social media, and promotional activities. This 12% first quarter growth in the U.S. follows 10%
year over year growth during the second half of 2012 in a market where LASIK procedures are clearly declining.
"IOL revenue during the first quarter of this year
remained relatively flat. However, without the negative impact of the foreign exchange rate in Japan, global IOL revenue
would have grown by approximately 10%. With the introduction of the KS-SP Preloaded Acrylic IOL we saw a 25% IOL unit
increase in Japan. Additionally, we did exit the quarter with approximately $900,000 in backorders of our Pre-Loaded Acrylic
IOLs in Europe. Finally, we continue to make progress towards the full implementation of our manufacturing consolidation from
Japan and Switzerland facilities to the U.S., remaining on target with our pre-established product and quality metrics. We look forward to updating investors on our progress as well as our 2013 metrics on May 1," Mr. Caldwell
About STAAR Surgical
STAAR, which has been dedicated solely
to ophthalmic surgery for over 25 years, designs, develops, manufactures and markets implantable lenses for the eye and delivery
systems therefor. All of these lenses are foldable, which permits the surgeon to insert them through a small incision. STAAR's
lens used in refractive surgery as an alternative to LASIK is called an Implantable Collamer Lens or "ICL." A lens
used to replace the natural lens after cataract surgery is called an intraocular lens or "IOL." Over 350,000 Visian ICLs
have been implanted to date; to learn more about the ICL go to: www.visianinfo.com. STAAR has
approximately 300 full time employees and markets lenses in over 60 countries. Headquartered in Monrovia, CA, it manufactures in
the following locations: Nidau, Switzerland; Ichikawa City, Japan; Aliso Viejo, CA; and Monrovia, CA. For more information, please
visit the Company's website at www.staar.com.
All statements in this press release that are not statements
of historical fact are forward-looking statements, including statements about any of the following: any projections or estimates
of earnings, revenue, sales, profit margins, cash or any other financial items; the plans, strategies, and objectives of management
for future operations or prospects for achieving such plans; metrics for 2013; statements regarding new products, including but
not limited to, expectations for success of the new ICL, KS-SP and nanoFLEX Toric IOL products in the U.S. or international markets
or government approval of new products; future economic conditions or size of market opportunities; expected savings from business
consolidation plans and the timetable for those plans; statements of belief; and any statements of assumptions underlying any of
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: our
limited capital resources and limited access to financing; the negative effect of unstable global economic conditions on sales
of products, especially products such as the ICL used in non-reimbursed elective procedures; the challenge of managing our foreign
subsidiaries; backlog as we prepare for our manufacturing facility consolidation; the risk of unfavorable changes in currency
exchange rate; the discretion of regulatory agencies to approve or reject new products, or to require additional actions before
approval; unexpected costs or delays that could reduce or eliminate the expected benefits of our consolidation plans; the risk
that research and development efforts will not be successful or may be delayed in delivering for launch; the purchasing patterns
of our distributors carrying inventory in the market; the willingness of surgeons and patients to adopt a new product and procedure;
patterns of Visian ICL use that have typically limited our penetration of the refractive surgery market, and a general decline
in the demand for refractive surgery particularly in the U.S. and the Asia Pacific region, which STAAR believes has resulted from
both concerns about the safety and effectiveness of laser procedures and current economic conditions. The Visian Toric ICL and
the Visian ICL with CentraFLOW are not yet approved for sale in the United States.
CONTACT: Investors Media
EVC Group EVC Group
Douglas Sherk, 415-652-9100 Amy Phillips, 412-327-9499
Leigh Salvo, 415-568-9348
Last updated: Apr 8, 2013