LAKE FOREST, Calif. (AP) — LAKE FOREST, Calif. (AP) — Staar Surgical Co. (STAA) on Tuesday reported a loss of $34.2 million in its fourth quarter.
The Lake Forest, California-based company said it had a loss of 69 cents per share. Losses, adjusted for non-recurring costs and stock option expense, came to 50 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.
The maker of implantable lenses posted revenue of $49 million in the period, also falling short of Street forecasts. Five analysts surveyed by Zacks expected $78 million.
For the year, the company reported a loss of $20.2 million, or 41 cents per share. Revenue was reported as $313.9 million.
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