$STAA
STAAR SURGICAL CO

2015 Q3 Form 10-Q Financial Statement

#000114420416116302 Filed on August 03, 2016

View on sec.gov

Income Statement

Concept 2015 Q3
Revenue $18.66M
YoY Change -6.94%
Cost Of Revenue $6.296M
YoY Change -1.33%
Gross Profit $12.36M
YoY Change -9.56%
Gross Profit Margin 66.25%
Selling, General & Admin $14.10M
YoY Change 13.8%
% of Gross Profit 114.1%
Research & Development $3.536M
YoY Change 41.55%
% of Gross Profit 28.61%
Depreciation & Amortization $550.0K
YoY Change -12.7%
% of Gross Profit 4.45%
Operating Expenses $17.64M
YoY Change 18.45%
Operating Profit -$1.743M
YoY Change 25.4%
Interest Expense $33.00K
YoY Change -2.94%
% of Operating Profit
Other Income/Expense, Net $297.0K
YoY Change -1028.13%
Pretax Income -$1.446M
YoY Change 1.69%
Income Tax $153.0K
% Of Pretax Income
Net Earnings -$1.599M
YoY Change -10.62%
Net Earnings / Revenue -8.57%
Basic Earnings Per Share
Diluted Earnings Per Share -$40.95K
COMMON SHARES
Basic Shares Outstanding 39.80M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $15.30M
YoY Change -20.31%
Cash & Equivalents $15.30M
Short-Term Investments
Other Short-Term Assets $212.0K
YoY Change -63.32%
Inventory $14.20M
Prepaid Expenses $2.310M
Receivables $12.50M
Other Receivables $1.000M
Total Short-Term Assets $46.60M
YoY Change -8.16%
LONG-TERM ASSETS
Property, Plant & Equipment $9.900M
YoY Change 6.22%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.300M
YoY Change 93.45%
Total Long-Term Assets $13.70M
YoY Change 0.51%
TOTAL ASSETS
Total Short-Term Assets $46.60M
Total Long-Term Assets $13.70M
Total Assets $60.30M
YoY Change -6.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.800M
YoY Change -8.9%
Accrued Expenses $3.700M
YoY Change -7.5%
Deferred Revenue
YoY Change
Short-Term Debt $4.100M
YoY Change -16.33%
Long-Term Debt Due $300.0K
YoY Change -25.0%
Total Short-Term Liabilities $15.00M
YoY Change -12.71%
LONG-TERM LIABILITIES
Long-Term Debt $300.0K
YoY Change -50.0%
Other Long-Term Liabilities $89.00K
YoY Change -97.03%
Total Long-Term Liabilities $89.00K
YoY Change -97.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.00M
Total Long-Term Liabilities $89.00K
Total Liabilities $20.50M
YoY Change -9.05%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $39.80M
YoY Change
Total Liabilities & Shareholders Equity $60.30M
YoY Change -6.33%

Cashflow Statement

Concept 2015 Q3
OPERATING ACTIVITIES
Net Income -$1.599M
YoY Change -10.62%
Depreciation, Depletion And Amortization $550.0K
YoY Change -12.7%
Cash From Operating Activities $800.0K
YoY Change -154.42%
INVESTING ACTIVITIES
Capital Expenditures -$370.0K
YoY Change -56.98%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$370.0K
YoY Change -53.16%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.180M
YoY Change 1641.67%
NET CHANGE
Cash From Operating Activities 800.0K
Cash From Investing Activities -370.0K
Cash From Financing Activities 4.180M
Net Change In Cash 4.610M
YoY Change -328.22%
FREE CASH FLOW
Cash From Operating Activities $800.0K
Capital Expenditures -$370.0K
Free Cash Flow $1.170M
YoY Change -291.8%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2015Q3 staa Defined Benefit Plan Actuarial Gain Loss Recognized In Current Year
DefinedBenefitPlanActuarialGainLossRecognizedInCurrentYear
-12000 USD
CY2016Q1 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
1909000 USD
CY2016Q3 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
2092000 USD
CY2016Q1 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
2114000 USD
CY2016Q3 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
1395000 USD
CY2016Q1 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
217000 USD
CY2016Q3 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
83000 USD
CY2016Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
314000 USD
CY2016Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
295000 USD
CY2016Q1 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
540000 USD
CY2016Q3 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
426000 USD
CY2016Q1 us-gaap Customer Advances And Deposits Current
CustomerAdvancesAndDepositsCurrent
203000 USD
CY2016Q3 us-gaap Customer Advances And Deposits Current
CustomerAdvancesAndDepositsCurrent
292000 USD
CY2016Q3 us-gaap Other Employee Related Liabilities Current
OtherEmployeeRelatedLiabilitiesCurrent
136000 USD
CY2016Q1 us-gaap Other Employee Related Liabilities Current
OtherEmployeeRelatedLiabilitiesCurrent
133000 USD
CY2016Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1359000 USD
CY2016Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
875000 USD
staa Percentage Of Other Current Liabilities
PercentageOfOtherCurrentLiabilities
0.05 pure
CY2016Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
11341000 USD
CY2016Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
11799000 USD
CY2016Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
10675000 USD
CY2016Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
11140000 USD
CY2016Q3 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
17832000 USD
CY2016Q1 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
17094000 USD
CY2016Q1 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
6980000 USD
CY2016Q3 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
8387000 USD
CY2016Q1 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
8611000 USD
CY2016Q3 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
9208000 USD
CY2016Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
22590000 USD
CY2016Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
24003000 USD
CY2016Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1493000 USD
CY2016Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1386000 USD
CY2016Q1 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
724000 USD
CY2016Q3 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
538000 USD
CY2016Q1 us-gaap Other Assets Current
OtherAssetsCurrent
682000 USD
CY2016Q3 us-gaap Other Assets Current
OtherAssetsCurrent
945000 USD
CY2016Q1 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
597000 USD
CY2016Q3 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
651000 USD
CY2016Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
2317000 USD
CY2016Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
2344000 USD
CY2016Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
1995000 USD
CY2016Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
1971000 USD
CY2016Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
15058000 USD
CY2016Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
15614000 USD
CY2016Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
3449000 USD
CY2016Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
4237000 USD
CY2016Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2016Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2016Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
2023000 USD
CY2016Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1877000 USD
CY2016Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2016Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2016Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
60000000 shares
CY2016Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
60000000 shares
CY2016Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
40433000 shares
CY2016Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
40433000 shares
CY2016Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
39887000 shares
CY2016Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
39887000 shares
CY2016Q3 us-gaap Inventory Gross
InventoryGross
19929000 USD
CY2016Q1 us-gaap Inventory Gross
InventoryGross
19370000 USD
CY2016Q3 us-gaap Deferred Costs Current
DeferredCostsCurrent
182000 USD
CY2016Q1 us-gaap Deferred Costs Current
DeferredCostsCurrent
182000 USD
CY2016Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
16768000 USD
CY2015Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
14104000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
39814000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
28512000 USD
CY2016Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
0 USD
CY2015Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
49000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
0 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
49000 USD
CY2016Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
35427000 USD
CY2016Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
32685000 USD
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
0 USD
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
2800000 USD
us-gaap Sale Leaseback Transaction Net Proceeds Financing Activities
SaleLeasebackTransactionNetProceedsFinancingActivities
1154000 USD
us-gaap Sale Leaseback Transaction Net Proceeds Financing Activities
SaleLeasebackTransactionNetProceedsFinancingActivities
0 USD
CY2016Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
176000 USD
CY2015Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
120000 USD
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
353000 USD
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
240000 USD
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2016-07-01
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2016
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Registrant Name
EntityRegistrantName
STAAR SURGICAL CO
dei Entity Central Index Key
EntityCentralIndexKey
0000718937
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-30
dei Trading Symbol
TradingSymbol
STAA
CY2016Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
40431411 shares
CY2016Q3 staa Segment Sales To Consolidated Sales Percentage
SegmentSalesToConsolidatedSalesPercentage
1 pure
us-gaap Entity Wide Disclosure On Geographic Areas Description Of Revenue From External Customers
EntityWideDisclosureOnGeographicAreasDescriptionOfRevenueFromExternalCustomers
The Company markets and sells its products in over 60 countries and has manufacturing sites in the United States. Other than Japan, China, the United States, Korea, Spain, France and Germany, the Company does not conduct business in any country in which its sales exceed 5% of worldwide consolidated sales.
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 13.2pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><i>Prior Year Reclassifications</i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><i>&#160;</i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">For the three-month and six-month periods ended July 3, 2015, the Company reclassified $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">106,000</font> and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">151,000</font> from other income, net to royalty income, respectively, in the condensed consolidated statements of operations.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
dei Document Type
DocumentType
10-Q
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2016Q1 us-gaap Deferred Rent Credit Noncurrent
DeferredRentCreditNoncurrent
87000 USD
CY2016Q3 us-gaap Defined Benefit Pension Plan Liabilities Noncurrent
DefinedBenefitPensionPlanLiabilitiesNoncurrent
4240000 USD
CY2016Q1 us-gaap Defined Benefit Pension Plan Liabilities Noncurrent
DefinedBenefitPensionPlanLiabilitiesNoncurrent
3886000 USD
CY2016Q3 staa Royalties Receivables
RoyaltiesReceivables
129000 USD
CY2016Q1 staa Royalties Receivables
RoyaltiesReceivables
65000 USD
CY2016Q3 us-gaap Deferred Rent Credit Noncurrent
DeferredRentCreditNoncurrent
77000 USD

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