STAAR Surgical Company (NASDAQ:STAA) Q2 2023 Earnings Conference Call August 2, 2023 4:30 PM ET
Company Participants
Brian Moore - Investor Relations
Tom Frinzi - President and Chief Executive Officer
Patrick Williams - Chief Financial Officer
Conference Call Participants
Anthony Petrone - Mizuho Group
Margaret Kaczor - William Blair
Young Li - Jefferies
Samuel Durno - BTIG
Harrison Parsons - Stephens Inc.
Tom Stephan - Stifel
David Saxon - Needham
Jim Sidoti - Sidoti & Company
Steve Lichtman - Oppenheimer
Bruce Jackson - The Benchmark Company
Operator
Good day ladies and gentlemen. Thank you for standing by. Welcome to the STAAR Surgical Second Quarter Financial Results Conference Call. [Operator Instructions] This call is being recorded today, Wednesday, August 2, 2023. At this time, I would like to turn the conference over to Mr. Brian Moore, Vice President, Investor, Media Relations and Corporate Development for STAAR Surgical.
Brian Moore
Thank you, operator, 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 June 30, 2023.
On the call today are Tom Frinzi, 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 www.staar.com.
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, beliefs 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, adjusted net income for ICL, the corresponding adjusted earnings per share and sales in constant currency. During the quarter, the company also reported various accounting adjustments related to its other product, cataract IOL business. Please refer to the non-GAAP financial measures tables to adjusted net sales, adjusted cost of sales, adjusted gross profit margin, adjusted operating expenses and adjusted income tax provision. We believe that these non-GAAP and adjusted 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. For brevity, all references to growth rates on today’s call refer to year-over-year growth unless otherwise stated.