STAAR Surgical Company (NASDAQ: STAA) shares hiked after the company posted upbeat Q2 earnings and raised FY18 sales growth guidance.
The company, based in Monrovia, California, reported second-quarter net income of $1.8 million, after reporting a loss in the same period a year earlier.
On a per-share basis, STAA said it had net income of four cents.
Earnings, adjusted for non-recurring costs, were nine cents per share.
The maker of implantable lenses posted revenue of $33.9 million in the period, an all-time record for the company, with ICL sales growing 67% and ICL unit growth of 66%.
Staar Surgical shares have more than doubled since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $31.90, nearly tripling in the last 12 months.
Said CEO Caron Mason, "I am very pleased to report that the momentum in the second quarter was stronger than we anticipated and appears to be continuing into Q3.
"ICL unit growth highlights for the quarter included Japan up 131%, China up 127%, Canada up 64% and India up 61% with solid 30% unit growth in Germany and 20% growth from our European distributors. We continue to see a high level of momentum in our key international markets and therefore believe our second half sales growth may exceed 20% even taking into account our strong finish to 2017."
Shares in STAA started Thursday up $8.07, or 25.3%, to $39.98, to a fresh 52-week high
