India, Feb. 12 -- Shares of STAAR Surgical Company (STAA) are down over 37% in Wednesday's premarket trading after the company reported its fourth-quarter results for fiscal year 2024, highlighting the challenges in its crucial Chinese market and a drop in refractive procedure volumes.
For the fourth quarter of 2024, STAAR Surgical posted a net loss of $34.2 million or $0.69 per share, compared to the net income of $7.8 million or $0.16 per share reported in the same period last year.
This marks a notable reversal, driven largely by weak demand in China and the broader macroeconomic challenges affecting consumer spending on elective procedures.
In the fourth quarter of fiscal year 2024, STAAR Surgical reported total net sales of $49.0 mi...