Why STAAR Surgical Stock Is Triumphant Today
STAAR Surgical (NASDAQ: STAA) stock was up by 16% as of 3:36 p.m. ET on Thursday after it smashed the market's expectations for its second-quarter earnings, reporting net sales of $81.1 million and $0.26 in net income per diluted share. That works out to be 30% growth in its total revenue year over year, driven by a 45% rise in the number of implantable lens units it sold in China.
The icing on the cake was its performance in India, where it sold 181% more lenses than in the same quarter a year prior.
The strong sales in China and India indicate that STAAR's ongoing push into major international vision correction markets is going swimmingly. Right now, its market share in China is estimated to be above 20%, which bodes well for its future performance there.
Source Fool.com
