STAAR Surgical Company (NASDAQ:STAA) Q2 2020 Earnings Conference Call - Final Transcript

Aug 05, 2020 • 04:30 pm ET


STAAR Surgical Company (NASDAQ:STAA) Q2 2020 Earnings Conference Call - Final Transcript


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Good afternoon. Ladies and gentlemen, and welcome to the STAAR Surgical Second Quarter 2020 Financial Results Conference Call and Webcast. [Operator Instructions] After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] And please be advised that today's conference is being recorded. [Operator Instructions]

I'd now like to hand the conference over to your speaker today, Mr. Brian Moore. Sir, you may begin.

Brian Moore

Thank you, Christie, and good afternoon, everyone. Thank you for joining us on the STAAR Surgical conference call this afternoon to discuss the Company's financial results for the second quarter ended July 3, 2020. On the call today are Caren Mason, President and Chief Executive Officer; and Patrick Williams, Chief Financial Officer. The press release of our second quarter results was issued just after 4:00 p.m. Eastern Time and is now available on STAAR's website at

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, belief, 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 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 in 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, and then re-queue with any follow-ups. We thank everyone in advance for their cooperation with this process.

And with that, I would now like to turn the call over to Caren Mason, President and CEO of STAAR.

Caren Mason

Thank you, Brian. Good afternoon, everyone, and thank you for joining us on today's call. Let me start by welcoming Patrick Williams. We're delighted to have him on board as our new Chief Financial Officer. Welcome also to our two new Board members, Dr. Gil Kliman and Tom Frinzi, who joined the Board on June 1. I would also like to take this opportunity to express my sincere appreciation to the entire STAAR team for achieving strong results and demonstrating operating discipline