STAAR Surgical Reports Preliminary Net Sales For Q1 To Be In Excess Of $77M (Est $72.134M); Now Expects FY24 Net Sales Can Be At Higher End Of Prior Outlook Range Of $335M-$340M (Est $337.208M)
Portfolio Pulse from Benzinga Newsdesk
STAAR Surgical reported preliminary Q1 net sales exceeding $77M, surpassing estimates of $72.134M, and now anticipates FY24 net sales at the higher end of the $335M-$340M range. U.S. ICL sales hit a record $5M for the quarter. The company's cash and equivalents stood at approximately $248M, with accounts receivable at $70M as of March 29, 2024. STAAR Surgical will discuss detailed Q1 results and FY24 outlook on its earnings call around May 8, 2024.
April 04, 2024 | 11:11 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
STAAR Surgical's Q1 net sales exceeded expectations at over $77M, with a record $5M in U.S. ICL sales, and anticipates higher FY24 sales. Cash and equivalents are at $248M, with accounts receivable at $70M.
STAAR Surgical's preliminary Q1 earnings report showing sales exceeding estimates and record U.S. ICL sales indicate strong financial health and operational success. This positive news, along with a solid cash position, is likely to instill investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100