LAKE FOREST, Calif. (AP) — LAKE FOREST, Calif. (AP) — Staar Surgical Co. (STAA) on Wednesday reported a loss of $54.2 million in its first quarter.
The Lake Forest, California-based company said it had a loss of $1.10 per share. Losses, adjusted for restructuring costs and stock option expense, were 52 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 59 cents per share.
The maker of implantable lenses posted revenue of $42.6 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $40.3 million.
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