STAAR Surgical Company (NASDAQ:STAA) Q4 2019 Earnings Conference Call - Final Transcript

Feb 26, 2020 • 04:30 pm ET

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STAAR Surgical Company (NASDAQ:STAA) Q4 2019 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Thank you for standing by and welcome to the STAAR Surgical 4Q '19 Financial Results Conference Call and Webcast. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded. [Operator Instructions]

I would now like to hand the conference over to your speaker today, Brian Moore, Senior Director, Investor, Media Relations and Corporate Development. Thank you. Please go ahead.

Executive
Brian Moore

Thank you, Jessie, and good afternoon everyone. Thank you for joining us on the STAAR Surgical conference call this afternoon to review the Company's financial results for the fourth quarter and fiscal year ended January 3, 2020. On the call today are Caren Mason, President and CEO and Deborah Andrews, Chief Financial Officer. The press release of our fourth quarter results was issued just after 4:00 PM Eastern Time and is now available on STAAR's website at www.staar.com.

Before we begin, let me quickly remind you that during the course of this conference call, the Company will make forward-looking statements. We caution you that any statement that is not a statement of historical fact is a forward-looking statement. This includes remarks about the Company's projections, expectations, plans, beliefs, and prospects. These statements are based on judgment and analysis as of the date of this conference call and are subject to numerous important risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The risks and uncertainties associated with the forward-looking statements made in this conference call and webcast are described in the Safe Harbor statement in today's press release as well as STAAR's public periodic other filings with the SEC. Except as required by law, STAAR assumes no obligation to update these forward-looking statements to reflect future events or actual outcomes and does not intend to do so.

In addition, to supplement the GAAP numbers, we have provided non-GAAP adjusted net income and adjusted earnings per share and sales in constant currency. We believe that these non-GAAP numbers provide meaningful supplemental information and are helpful assessing our historical and future performance. A table reconciling the GAAP information to the non-GAAP information is included in today's press release. Following our prepared remarks, we will open the line to questions from publishing analysts. We ask analysts limit themselves to two initial questions, then re-queue with any follow-ups. We thank everyone in advance for their cooperation with this process.

Now, I'd like to turn the call over to Caren Mason, President and CEO of STAAR.

Executive
Caren Mason

Thank you, Brian, and good afternoon everyone. The fourth quarter results we reported today are consistent with the preliminary results we issued on January 13 and represent continued financial, operational, and market share momentum for STAAR. ICL sales, ICL units, gross margin, cash, and earnings per share, all grew significantly over prior-year results. STAAR achieved 33% ICL unit growth in 2019, successfully hurdling breakout levels of growth in calendar year 2018.