Staar Surgical (STAA) FY2020 results: revenue $163 million, up 8.8% on the year
Staar Surgical Co. (STAA) reported revenue of $163 million for fiscal 2020, the year ended 1 January 2021, up 8.8% on the year before. Net income was $6 million, down 57.9%, and diluted earnings per share $0.12. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2021.
Revenue
$163 million
+8.8% on the year
FY2013FY2020
Operating margin
4.1%
7.9% a year earlier
FY2013FY2020
Net income
$6 million
-57.9% on the year
FY2013FY2020
Diluted EPS
$0.12
-60.0% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
163
150
124
+8.8%
Cost of revenue
45.1
38.2
32.4
+18.0%
Gross profit
118
112
91.5
+5.7%
Gross margin
72.4%
74.5%
73.8%
Research and development
31.9
25.3
22.0
+26.2%
Selling, general and administrative
112
100
84.9
+11.5%
Operating income
6.8
11.9
6.6
-42.9%
Operating margin
4.1%
7.9%
5.3%
Pre-tax income
8.3
13.0
6.6
-36.5%
Income tax
2.4
-1.0
1.7
Effective tax rate
28.5%
-7.8%
25.2%
Net income
5.9
14.0
5.0
-57.9%
Net margin
3.6%
9.4%
4.0%
Diluted EPS
$0.12
$0.30
$0.11
-60.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
21.0
25.8
12.8
-18.8%
Capital expenditure
8.4
10.1
2.2
-16.8%
Free cash flow
12.5
15.7
10.5
-20.1%
Free cash flow margin
7.7%
10.5%
8.5%
Cash from investing
-8.4
-10.2
-2.2
Cash from financing
19.6
0.1
74.6
+13,034.9%
Depreciation and amortisation
3.1
3.7
2.5
-16.3%
Share-based compensation
12.1
10.5
6.8
+15.2%
Diluted shares, weighted
48m
47m
45m
+2.3%
Shares outstanding at period end
46m
45m
44m
+3.6%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
197
160
132
+23.4%
Debt
1.4
1.8
3.8
-24.5%
Operating lease liabilities
6.5
4.1
n/a
+60.0%
Finance lease liabilities
0.0
0.4
0.5
-89.6%
Other liabilities
52.2
41.4
30.7
+26.3%
Total liabilities and equity
257
208
167
+24.0%
Fixed assets
24.0
17.1
11.5
+40.8%
Goodwill
1.8
1.8
1.8
0.0%
Intangible assets
0.3
0.3
0.2
-8.8%
Cash and equivalents
152
120
104
+27.1%
Receivables
35.2
31.0
25.9
+13.7%
Other assets
43.6
37.4
24.0
+16.7%
Total assets
257
208
167
+24.0%
10-K for the year ended 1 January 2021, filed 24 February 2021: the filing.