STAAR Surgical (STAA) 10-Q 13 May 14 2014 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Apr. 04, 2014	6-May-14
Document Information [Line Items]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	4-Apr-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'
Trading Symbol	'STAA	'
Entity Common Stock, Shares Outstanding	'	38,391,311
Entity Registrant Name	'STAAR SURGICAL CO	'
Entity Central Index Key	'0000718937	'
Current Fiscal Year End Date	'--01-03	'
Entity Filer Category	'Accelerated Filer	'

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Apr. 04, 2014	Jan. 03, 2014
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$21,070	$22,954
Accounts receivable trade, net	11,101	10,731
Inventories, net	13,785	12,514
Prepaids, deposits and other current assets	4,770	3,503
Deferred income taxes	377	373
Total current assets	51,103	50,075
Property, plant and equipment, net	8,832	7,405
Intangible assets, net	1,288	1,380
Goodwill	1,786	1,786
Deferred income taxes	631	626
Other assets	668	659
Total assets	64,308	61,931
Current liabilities:	'	'
Line of credit	4,800	4,750
Accounts payable	6,161	6,263
Deferred income taxes	738	739
Obligations under capital leases	265	288
Other current liabilities	6,379	6,372
Total current liabilities	18,343	18,412
Obligations under capital leases	119	141
Deferred income taxes	1,683	1,654
Asset retirement obligations	130	157
Pension liability	2,775	2,715
Total liabilities	23,050	23,079
Commitments and contingencies (Note 12)	'	'
Stockholders' equity:	'	'
Common stock, $0.01 par value; 60,000 shares authorized; 38,123 and 37,911 shares issued and outstanding at April 4, 2014 and January 3, 2014, respectively	381	379
Additional paid-in capital	174,007	170,246
Accumulated other comprehensive income	284	282
Accumulated deficit	-133,414	-132,055
Total stockholders' equity	41,258	38,852
Total liabilities and stockholders' equity	$64,308	$61,931

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS [Parenthetical] (USD $)	Apr. 04, 2014	Jan. 03, 2014
In Thousands, except Per Share data, unless otherwise specified
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares authorized	60,000	60,000
Common stock, shares issued	38,123	37,911
Common stock, shares outstanding	38,123	37,911

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Apr. 04, 2014	Mar. 29, 2013
Net sales	$20,178	$18,001
Cost of sales	6,294	5,347
Gross profit	13,884	12,654
General and administrative	5,396	3,958
Marketing and selling	6,138	5,286
Research and development	3,484	1,366
Medical device tax	40	59
Other general and administrative expenses	168	901
Operating income (loss)	-1,342	1,084
Other income (expense):	'	'
Interest income	9	35
Interest expense	-33	-83
Gain (loss) on foreign currency transactions	66	-341
Other income, net	160	90
Total other income (expense), net	202	-299
Income (loss) before provision for income taxes	-1,140	785
Provision for income taxes	219	314
Net income (loss)	($1,359)	$471
Net income (loss) per share - basic (in dollars per share)	($0.04)	$0.01
Net income (loss) per share - diluted (in dollars per share)	($0.04)	$0.01
Weighted average shares outstanding - basic (in shares)	37,794	36,427
Weighted average shares outstanding - diluted (in shares)	37,794	37,418

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 04, 2014	Mar. 29, 2013
Net income (loss)	($1,359)	$471
Defined Benefit Pension Plans:	'	'
Net change in plan assets	-11	-11
Reclassification into earnings	6	8
Foreign currency translation	11	-672
Tax effect	-4	0
Other comprehensive income (loss), net of tax	2	-675
Comprehensive loss	($1,357)	($204)

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 04, 2014	Mar. 29, 2013
Cash flows from operating activities:	'	'
Net income (loss)	($1,359)	$471
Adjustments to reconcile net income (loss) to net cash used in operating activities:	'	'
Depreciation of property and equipment	453	369
Amortization of intangibles	106	117
Deferred income taxes	24	7
Fair value adjustment of warrant	0	-27
Gain on disposal of property and equipment	0	-28
Change in net pension liability	45	58
Stock-based compensation expense	1,500	1,034
Accretion of asset retirement obligation	1	5
Provision for sales return and bad debt expense	-55	27
Changes in working capital:	'	'
Accounts receivable	-295	-322
Inventories	-1,137	288
Prepaids, deposits and other current assets	-1,270	-581
Accounts payable	-610	-1,328
Other current liabilities	3	-522
Net cash used in operating activities	-2,594	-432
Cash flows from investing activities:	'	'
Acquisition of property and equipment	-1,414	-1,218
Net cash used in investing activities	-1,414	-1,218
Cash flows from financing activities:	'	'
Repayment of capital lease obligations	-46	-242
Proceeds from exercise of stock options	2,188	23
Net cash provided by (used in) financing activities	2,142	-219
Effect of exchange rate changes on cash and cash equivalents	-18	-563
Decrease in cash and cash equivalents	-1,884	-2,432
Cash and cash equivalents, at beginning of the period	22,954	21,675
Cash and cash equivalents, at end of the period	$21,070	$19,243

Basis_of_Presentation_and_Sign

Basis of Presentation and Significant Accounting Policies	3 Months Ended
	Apr. 04, 2014
Accounting Policies [Abstract]	'
Basis of Presentation and Significant Accounting Policies [Text Block]	'
	Note 1 — Basis of Presentation and Significant Accounting Policies
	The consolidated financial statements of the Company present the financial position, results of operations, and cash flows of STAAR Surgical Company and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities Exchange Commission. In accordance with those rules and regulations certain information and footnote disclosures normally included in comprehensive financial statements have been condensed or omitted pursuant to such rules and regulations. The consolidated balance sheet as of January 3, 2014 derives from the audited financial statements at that date, but does not include all the information and footnotes required by GAAP. These financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended January 3, 2014.
	The condensed consolidated financial statements for the three months ended April 4, 2014 and March 29, 2013, in the opinion of management, include all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the Company’s financial condition and results of operations. The results of operations for the three months ended April 4, 2014 and March 29, 2013 are not necessarily indicative of the results to be expected for any other interim period or for the entire year.
	Each of the Company's reporting periods ends on the Friday nearest to the quarter ending date and generally consists of 13 weeks.  Unless the context indicates otherwise “we,” “us,” the “Company,” and “STAAR” refer to STAAR Surgical Company and its consolidated subsidiaries.
	Prior Year Reclassifications
	Certain reclassifications have been made to the prior periods’ unaudited condensed financial statements and related note disclosures to conform to current period’s presentation.

Inventories

Inventories	3 Months Ended
	Apr. 04, 2014
Inventory Disclosure [Abstract]	'
Inventory Disclosure [Text Block]	'
	Note 2 — Inventories
	Inventories, net are stated at the lower of cost, determined on a first-in, first-out basis, or market and consisted of the following (in thousands):
		April 4,		January 3,
		2014		2014
	Raw materials and purchased parts	$	1,281	$	1,367
	Work-in-process		1,032		913
	Finished goods		12,448		11,029
			14,761		13,309
	Less: inventory reserves		976		795
		$	13,785	$	12,514

Prepaids_Deposits_and_Other_Cu

Prepaids, Deposits, and Other Current Assets	3 Months Ended
	Apr. 04, 2014
Prepaid Expenses Deposits and Other Current Assets Disclosure [Abstract]	'
Prepaid Expenses Deposits and Other Current Assets Disclosure [Text Block]	'
	Note 3 — Prepaids, Deposits, and Other Current Assets
	Prepaids, deposits, and other current assets consisted of the following (in thousands):
		April 4,		January 3,
		2014		2014
	Prepaids and deposits	$	2,820	$	2,157
	Value added tax (VAT) receivable		681		618
	Deferred charge for foreign profits		280		362
	Other current assets		989		366
		$	4,770	$	3,503

Property_Plant_and_Equipment

Property, Plant and Equipment	3 Months Ended
	Apr. 04, 2014
Property, Plant and Equipment [Abstract]	'
Property, Plant and Equipment Disclosure [Text Block]	'
	Note 4 — Property, Plant and Equipment
	Property, plant and equipment consisted of the following (in thousands):
		April 4,		January 3,
		2014		2014
	Machinery and equipment	$	17,011	$	16,225
	Furniture and fixtures		4,980		4,837
	Leasehold improvements		7,516		6,552
			29,507		27,614
	Less: accumulated depreciation		20,675		20,209
		$	8,832	$	7,405

Amortizable_Intangible_Assets

Amortizable Intangible Assets	3 Months Ended
	Apr. 04, 2014
Goodwill and Intangible Assets Disclosure [Abstract]	'
Intangible Assets Disclosure [Text Block]	'
	Note 5 – Amortizable Intangible Assets
	Amortizable intangible assets consisted of the following (in thousands):
		April 4, 2014						January 3, 2014
		Gross		Accumulated		Net		Gross		Accumulated		Net
		Carrying		Amortization				Carrying		Amortization
		Amount						Amount
	Amortized intangible assets:
	Patents and licenses	$	10,644		-10,114	$	530	$	10,637	$	-10,057	$	580
	Customer relationships		1,506		-941		565		1,490		-894		596
	Developed technology		957		-764		193		947		-743		204
	Total	$	13,107	$	-11,819	$	1,288	$	13,074	$	-11,694	$	1,380

Other_Current_Liabilities

Other Current Liabilities	3 Months Ended
	Apr. 04, 2014
Other Liabilities Disclosure [Abstract]	'
Other Liabilities Disclosure [Text Block]	'
	Note 6 – Other Current Liabilities
	Other current liabilities consisted of the following (in thousands):
		April 4,		January 3,
		2014		2014
	Accrued salaries and wages	$	2,691	$	1,630
	Accrued severance		837		731
	Accrued bonuses		583		935
	Accrued insurance		373		551
	Accrued audit fees		231		328
	Accrued commission		229		528
	Accrued income taxes		173		485
	Other(1)		1,262		1,184
		$	6,379	$	6,372
	(1)No item in “Other” above exceeds 5% of the total other current liabilities

Pension_Plans

Pension Plans	3 Months Ended
	Apr. 04, 2014
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]	'
Pension and Other Postretirement Benefits Disclosure [Text Block]	'
	Note 7 – Pension Plans
	The following table summarizes the components of net periodic pension cost recorded for the Company’s defined benefit pension plans (in thousands):
		Three Months Ended		Three Months Ended
		April 4, 2014		March 29, 2013
	Service cost	$	116	$	124
	Interest cost		35		27
	Expected return on plan assets		-27		-23
	Net amortization of transitional obligation (a)		—		3
	Amortization of prior service cost (a)		—		—
	Actuarial loss, recognized in current period (a)		6		5
		$	130	$	136
	(a) Amounts reclassified from accumulated other comprehensive income.
	During the three months ended April 4, 2014 and March 29, 2013, the Company made cash contributions totaling approximately $69,000 and $59,000 to its Swiss pension plan and expects to make additional cash contributions totaling approximately $217,000 during the remainder of 2014. The Company is not required to and does not make contributions to its Japan pension plan.

Basic_and_Diluted_Income_Loss_

Basic and Diluted Income (Loss) Per Share	3 Months Ended
	Apr. 04, 2014
Earnings Per Share [Abstract]	'
Earnings Per Share [Text Block]	'
	Note 8 — Basic and Diluted Income (Loss) Per Share
	The following table sets forth the computation of basic and diluted net income (loss) per share (in thousands except per share amounts):
		Three Months Ended
		April 4, 2014		March 29, 2013
	Numerator:
	Net income (loss)	$	-1,359	$	471
	Denominator:
	Weighted average common shares and denominator for basic calculation:
	Weighted average common shares outstanding		38,116		36,660
	Less: Unvested restricted stock		322		233
	Denominator for basic calculation		37,794		36,427
	Weighted average effects of potentially dilutive common stock:
	Stock options		—		522
	Warrants		—		400
	Restricted stock		—		69
	Denominator for diluted calculation		37,794		37,418
	Net income (loss) per share – basic	$	-0.04	$	0.01
	Net income (loss) per share – diluted	$	-0.04	$	0.01
	For the three months ended April 4, 2014, stock options, warrants, restricted stock and restricted stock units totaling approximately 2,798,000 weighted-average shares of common stock were excluded from the calculation of diluted loss per share, as the effect of including them would have been anti-dilutive, as it would have reduced the loss per share.
	For the three months ended March 29, 2013, stock options to purchase approximately 2,035,000 weighted- average common shares and 98,000 weighted-average restricted stock were not included in the computation of diluted earnings per share because the effect of including them would have been anti-dilutive.

Geographic_and_Product_Data

Geographic and Product Data	3 Months Ended
	Apr. 04, 2014
Segment Reporting [Abstract]	'
Segment Reporting Disclosure [Text Block]	'
	Note 9 — Geographic and Product Data
	The Company markets and sells its products in over 60 countries and has manufacturing sites in the United States and Switzerland. Other than the United States, Japan, Korea, China, and Spain the Company does not conduct business in any country in which its sales exceed 5% of consolidated sales. Sales are generally attributed to countries based on location of customers. The composition of the Company’s net sales to unaffiliated customers is set forth below (in thousands):
		Three Months Ended
		April 4, 2014		March 29, 2013
	Japan	$	5,008	$	4,739
	United States		2,874		3,240
	China		2,225		2,071
	Korea		2,621		2,035
	Spain		1,618		1,291
	Other		5,832		4,625
	Total	$	20,178	$	18,001
	100% of the Company’s sales are generated from the ophthalmic surgical product segment and therefore the Company operates as one operating segment for financial reporting purposes. The Company’s principal products are implantable Collamer lenses (“ICLs”) used in refractive surgery and intraocular lenses (“IOLs”) used in cataract surgery. The composition of the Company’s net sales by product line is as follows (in thousands):
		Three Months Ended
		April 4, 2014		March 29, 2013
	ICLs	$	12,241	$	10,631
	IOLs		6,613		6,347
	Core products		18,854		16,978
	Other Surgical Products		1,324		1,023
	Total	$	20,178	$	18,001
	The Company sells its products internationally, which subjects the Company to several potential risks, including fluctuating foreign currency exchange rates (to the extent the Company’s transactions are not in U.S. dollars), regulation of fund transfers by foreign governments, United States and foreign export and import duties and tariffs, and political instability.
	A single customer has accounted for 13% and 11% of net sales for the three months ended April 4, 2014 and March 29, 2013, respectively.

StockBased_Compensation

Stock-Based Compensation	3 Months Ended
	Apr. 04, 2014
Stockholders' Equity Note [Abstract]	'
Stockholders' Equity Note Disclosure [Text Block]	'
	Note 10 — Stock-Based Compensation
	Stock-based compensation is set forth below (in thousands):
		Three Months Ended
		April 4,			March 29,
		2014			2013
	Employee stock expense	$	797		$	821
	Restricted stock expense		293			188
	Restricted unit expense		388			—
	Consultant compensation		22			25
	Total	$	1,500		$	1,034
	Stock Option Plans
	The Amended and Restated 2003 Omnibus Equity Incentive Plan (“the Plan”) provides for various forms of stock-based incentives. To date, of the available forms of awards under the Plan, the Company has granted only stock options, restricted stock, unrestricted share grants, and performance contingent stock units. Options under the plan are granted at fair market value on the date of grant, become exercisable over a three year period, or as determined by the Board of Directors, and expire over periods not exceeding 10 years from the date of grant. Certain option and share awards provide for accelerated vesting if there is a change in control (as defined in the Plan). Pursuant to the Plan, options for 3,346,875 shares were outstanding at April 4, 2014 with exercise prices ranging between $0.95 and $16.59 per share. Restricted stock grants under the Plan generally vest over a period between one to four years. There were 252,685 shares of restricted stock and 290,500 restricted stock units (RSUs) outstanding at April 4, 2014. As of April 4, 2014, there were 694,296 shares authorized and available for grants under the Plan.
	Assumptions
	The fair value of each option award is estimated on the date of grant using a Black-Scholes option valuation model applying the assumptions noted in the following table. Expected volatilities are based on historical volatility of the Company’s stock. The Company uses historical data to estimate option exercise and employee termination behavior. The expected term of options granted is derived from the historical exercise activity over the past 15 years, and represents the period of time that options granted are expected to be outstanding. The Company has calculated a 6.92% estimated forfeiture rate based on historical forfeiture experience. The risk-free rate is based on the U.S. Treasury yield curve corresponding to the expected term at the time of the grant.
		Three Months Ended
		April 4, 2014				March 29, 2013
	Expected dividend yield		0	%			0	%
	Expected volatility		55.25	%			73.44	%
	Risk-free interest rate		1.28	%			0.61	%
	Expected term (in years)		4.12				4.12
	A summary of option activity under the Plan for the period ended April 4, 2014 is presented below:
		Options
		Shares
		(000’s)
	Outstanding at January 3, 2014		3,299
	Granted		383
	Exercised		-328
	Forfeited or expired		-7
	Outstanding at April 4, 2014		3,347
	Exercisable at April 4, 2014		2,274
	Warrants outstanding and exercisable for the period ended April 4, 2014 and January 3, 2014 were 700,000, respectively.
	A summary of restricted stock and restricted stock units activity under the Plan for the period ended April 4, 2014 is presented below:
		Restricted			Restricted
		Shares			Units
		(000’s)			(000’s)
	Outstanding at January 3, 2014		341			135
	Granted		2			291
	Vested		-90			-135
	Forfeited		—			—
	Outstanding at April 4, 2014		253			291

Income_Taxes

Income Taxes	3 Months Ended
	Apr. 04, 2014
Income Tax Disclosure [Abstract]	'
Income Tax Disclosure [Text Block]	'
	Note 11 — Income Taxes
	The provision for income taxes is determined using an estimated annual effective tax rate, which is generally less than the U.S. federal statutory rate, primarily due to the Company’s net operating losses in the U.S. and certain lower- or zero-rate foreign jurisdictions where the Company operates.  The effective tax rate may be subject to fluctuations during the year as new information is obtained, which may affect the assumptions used to estimate the annual effective tax rate, including factors such as the mix of pre-tax earnings in the various tax jurisdictions applicable to the Company, valuation allowances against deferred tax assets, the recognition or derecognition of tax benefits related to uncertain tax positions, if any, and changes in or the interpretation of tax laws in jurisdictions where the Company conducts business.
	The Company recorded an income tax provision of $219,000 and $314,000 for the three months ended April 4, 2014 and March 29, 2013, respectively, partially benefiting in the current quarter from the mix of pre-tax earnings in lower-rate foreign jurisdictions.  There are no unrecognized tax benefits as of any period presented.

Manufacturing_Consolidation_Pr

Manufacturing Consolidation Project and Tax Strategy	3 Months Ended
	Apr. 04, 2014
Manufacturing Consolidation Project and Tax Strategy Disclosure [Abstract]	'
Manufacturing Consolidation Project and Tax Strategy Disclosure [Text Block]	'
	Note 12 — Manufacturing Consolidation Project and Tax Strategy
	From fiscal 2011 through 2013, the Company has devoted significant resources to two initiatives: a project to consolidate global manufacturing, and development of a strategy to optimize its global organization for tax purposes. The goal of these initiatives is to further improve upon gross profit margin by streamlining operations, thereby reducing costs and to increase profits in the U.S., to enable the Company to utilize its approximately $122 million in net operating loss carryforwards and at the same time, reduce income taxes in foreign jurisdictions where it pays tax. STAAR currently manufactures its products in three facilities worldwide (Monrovia, Ca., Aliso Viejo, Ca., and Nidau, Switzerland). It has developed a plan to consolidate its manufacturing in a single site at its Monrovia, California location which is expected to be substantially completed by the middle of 2014.
	The Company has invested approximately $6.1 million since inception of these initiatives, including $168,000 incurred during the three months ended April 4, 2014 and, approximately $100,000 remaining to be incurred during the remainder of fiscal year 2014. These expenses are included in the other general and administrative expenses in the consolidated statements of operations.  Expenditures to date have largely consisted of severance, employee costs, professional fees to advisors and consultants.
	A summary of the activity for these initiatives is presented below for the period ended April 4, 2014 (in thousands):
		Termination Benefits		Other Associated Costs		Total
	Liability at January 3, 2014	$	731	$	28	$	759
	Costs incurred and charged to expense		106		62		168
	Cash payments		-16		-62		-78
	Liability at April 4, 2014	$	821	$	28	$	849

Basis_of_Presentation_and_Sign1

Basis of Presentation and Significant Accounting Policies (Policies)	3 Months Ended
	Apr. 04, 2014
Accounting Policies [Abstract]	'
Basis of Accounting, Policy [Policy Text Block]	'
	The consolidated financial statements of the Company present the financial position, results of operations, and cash flows of STAAR Surgical Company and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities Exchange Commission. In accordance with those rules and regulations certain information and footnote disclosures normally included in comprehensive financial statements have been condensed or omitted pursuant to such rules and regulations. The consolidated balance sheet as of January 3, 2014 derives from the audited financial statements at that date, but does not include all the information and footnotes required by GAAP. These financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended January 3, 2014.
	The condensed consolidated financial statements for the three months ended April 4, 2014 and March 29, 2013, in the opinion of management, include all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the Company’s financial condition and results of operations. The results of operations for the three months ended April 4, 2014 and March 29, 2013 are not necessarily indicative of the results to be expected for any other interim period or for the entire year.
	Each of the Company's reporting periods ends on the Friday nearest to the quarter ending date and generally consists of 13 weeks.  Unless the context indicates otherwise “we,” “us,” the “Company,” and “STAAR” refer to STAAR Surgical Company and its consolidated subsidiaries.
Reclassification, Policy [Policy Text Block]	'
	Prior Year Reclassifications
	Certain reclassifications have been made to the prior periods’ unaudited condensed financial statements and related note disclosures to conform to current period’s presentation.

Inventories_Tables

Inventories (Tables)	3 Months Ended
	Apr. 04, 2014
Inventory Disclosure [Abstract]	'
Schedule of Inventory, Current [Table Text Block]	'
	Inventories, net are stated at the lower of cost, determined on a first-in, first-out basis, or market and consisted of the following (in thousands):
		April 4,		January 3,
		2014		2014
	Raw materials and purchased parts	$	1,281	$	1,367
	Work-in-process		1,032		913
	Finished goods		12,448		11,029
			14,761		13,309
	Less: inventory reserves		976		795
		$	13,785	$	12,514

Prepaids_Deposits_and_Other_Cu1

Prepaids, Deposits, and Other Current Assets (Tables)	3 Months Ended
	Apr. 04, 2014
Prepaid Expenses and Other Current Assets Disclosure [Abstract]	'
Schedule Of Prepaid Expenses [Table Text Block]	'
	Prepaids, deposits, and other current assets consisted of the following (in thousands):
		April 4,		January 3,
		2014		2014
	Prepaids and deposits	$	2,820	$	2,157
	Value added tax (VAT) receivable		681		618
	Deferred charge for foreign profits		280		362
	Other current assets		989		366
		$	4,770	$	3,503

Property_Plant_and_Equipment_T

Property, Plant and Equipment (Tables)	3 Months Ended
	Apr. 04, 2014
Property, Plant and Equipment [Abstract]	'
Property, Plant and Equipment [Table Text Block]	'
	Property, plant and equipment consisted of the following (in thousands):
		April 4,		January 3,
		2014		2014
	Machinery and equipment	$	17,011	$	16,225
	Furniture and fixtures		4,980		4,837
	Leasehold improvements		7,516		6,552
			29,507		27,614
	Less: accumulated depreciation		20,675		20,209
		$	8,832	$	7,405

Amortizable_Intangible_Assets_

Amortizable Intangible Assets (Tables)	3 Months Ended
	Apr. 04, 2014
Goodwill and Intangible Assets Disclosure [Abstract]	'
Schedule of Finite-Lived Intangible Assets [Table Text Block]	'
	Amortizable intangible assets consisted of the following (in thousands):
		April 4, 2014						January 3, 2014
		Gross		Accumulated		Net		Gross		Accumulated		Net
		Carrying		Amortization				Carrying		Amortization
		Amount						Amount
	Amortized intangible assets:
	Patents and licenses	$	10,644		-10,114	$	530	$	10,637	$	-10,057	$	580
	Customer relationships		1,506		-941		565		1,490		-894		596
	Developed technology		957		-764		193		947		-743		204
	Total	$	13,107	$	-11,819	$	1,288	$	13,074	$	-11,694	$	1,380

Other_Current_Liabilities_Tabl

Other Current Liabilities (Tables)	3 Months Ended
	Apr. 04, 2014
Other Liabilities Disclosure [Abstract]	'
Schedule of Accrued Liabilities [Table Text Block]	'
	Other current liabilities consisted of the following (in thousands):
		April 4,		January 3,
		2014		2014
	Accrued salaries and wages	$	2,691	$	1,630
	Accrued severance		837		731
	Accrued bonuses		583		935
	Accrued insurance		373		551
	Accrued audit fees		231		328
	Accrued commission		229		528
	Accrued income taxes		173		485
	Other(1)		1,262		1,184
		$	6,379	$	6,372
	(1)No item in “Other” above exceeds 5% of the total other current liabilities

Pension_Plans_Tables

Pension Plans (Tables)	3 Months Ended
	Apr. 04, 2014
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]	'
Schedule of Net Benefit Costs [Table Text Block]	'
	The following table summarizes the components of net periodic pension cost recorded for the Company’s defined benefit pension plans (in thousands):
		Three Months Ended		Three Months Ended
		April 4, 2014		March 29, 2013
	Service cost	$	116	$	124
	Interest cost		35		27
	Expected return on plan assets		-27		-23
	Net amortization of transitional obligation (a)		—		3
	Amortization of prior service cost (a)		—		—
	Actuarial loss, recognized in current period (a)		6		5
		$	130	$	136
	(a) Amounts reclassified from accumulated other comprehensive income.

Basic_and_Diluted_Income_Loss_1

Basic and Diluted Income (Loss) Per Share (Tables)	3 Months Ended
	Apr. 04, 2014
Earnings Per Share [Abstract]	'
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	'
	The following table sets forth the computation of basic and diluted net income (loss) per share (in thousands except per share amounts):
		Three Months Ended
		April 4, 2014		March 29, 2013
	Numerator:
	Net income (loss)	$	-1,359	$	471
	Denominator:
	Weighted average common shares and denominator for basic calculation:
	Weighted average common shares outstanding		38,116		36,660
	Less: Unvested restricted stock		322		233
	Denominator for basic calculation		37,794		36,427
	Weighted average effects of potentially dilutive common stock:
	Stock options		—		522
	Warrants		—		400
	Restricted stock		—		69
	Denominator for diluted calculation		37,794		37,418
	Net income (loss) per share – basic	$	-0.04	$	0.01
	Net income (loss) per share – diluted	$	-0.04	$	0.01

Geographic_and_Product_Data_Ta

Geographic and Product Data (Tables)	3 Months Ended
	Apr. 04, 2014
Segment Reporting [Abstract]	'
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block]	'
	The composition of the Company’s net sales to unaffiliated customers is set forth below (in thousands):
		Three Months Ended
		April 4, 2014		March 29, 2013
	Japan	$	5,008	$	4,739
	United States		2,874		3,240
	China		2,225		2,071
	Korea		2,621		2,035
	Spain		1,618		1,291
	Other		5,832		4,625
	Total	$	20,178	$	18,001
Revenue from External Customers by Products and Services [Table Text Block]	'
	The composition of the Company’s net sales by product line is as follows (in thousands):
		Three Months Ended
		April 4, 2014		March 29, 2013
	ICLs	$	12,241	$	10,631
	IOLs		6,613		6,347
	Core products		18,854		16,978
	Other Surgical Products		1,324		1,023
	Total	$	20,178	$	18,001

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	3 Months Ended
	Apr. 04, 2014
Stockholders' Equity Note [Abstract]	'
Schedule Of Compensation Cost [Table Text Block]	'
	Stock-based compensation is set forth below (in thousands):
		Three Months Ended
		April 4,			March 29,
		2014			2013
	Employee stock expense	$	797		$	821
	Restricted stock expense		293			188
	Restricted unit expense		388			—
	Consultant compensation		22			25
	Total	$	1,500		$	1,034
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	'
	The risk-free rate is based on the U.S. Treasury yield curve corresponding to the expected term at the time of the grant.
		Three Months Ended
		April 4, 2014				March 29, 2013
	Expected dividend yield		0	%			0	%
	Expected volatility		55.25	%			73.44	%
	Risk-free interest rate		1.28	%			0.61	%
	Expected term (in years)		4.12				4.12
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	'
	A summary of option activity under the Plan for the period ended April 4, 2014 is presented below:
		Options
		Shares
		(000’s)
	Outstanding at January 3, 2014		3,299
	Granted		383
	Exercised		-328
	Forfeited or expired		-7
	Outstanding at April 4, 2014		3,347
	Exercisable at April 4, 2014		2,274
	A summary of restricted stock and restricted stock units activity under the Plan for the period ended April 4, 2014 is presented below:
		Restricted			Restricted
		Shares			Units
		(000’s)			(000’s)
	Outstanding at January 3, 2014		341			135
	Granted		2			291
	Vested		-90			-135
	Forfeited		—			—
	Outstanding at April 4, 2014		253			291

Manufacturing_Consolidation_Pr1

Manufacturing Consolidation Project and Tax Strategy (Tables)	3 Months Ended
	Apr. 04, 2014
Manufacturing Consolidation Project and Tax Strategy Disclosure [Abstract]	'
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]	'
	A summary of the activity for these initiatives is presented below for the period ended April 4, 2014 (in thousands):
		Termination Benefits		Other Associated Costs		Total
	Liability at January 3, 2014	$	731	$	28	$	759
	Costs incurred and charged to expense		106		62		168
	Cash payments		-16		-62		-78
	Liability at April 4, 2014	$	821	$	28	$	849

Inventories_Details

Inventories (Details) (USD $)	Apr. 04, 2014	Jan. 03, 2014
In Thousands, unless otherwise specified
Public Utilities, Inventory [Line Items]	'	'
Raw materials and purchased parts	$1,281	$1,367
Work-in-process	1,032	913
Finished goods	12,448	11,029
Inventory, Gross	14,761	13,309
Less: inventory reserves	976	795
Inventory, Net	$13,785	$12,514

Prepaids_Deposits_and_Other_Cu2

Prepaids, Deposits, and Other Current Assets (Details) (USD $)	Apr. 04, 2014	Jan. 03, 2014
In Thousands, unless otherwise specified
Prepaid Expense and Other Assets, Current [Line Items]	'	'
Prepaids and deposits	$2,820	$2,157
Value added tax (VAT) receivable	681	618
Deferred charge for foreign profits	280	362
Other current assets	989	366
Prepaid Expenses Deposits and Other Assets Current	$4,770	$3,503

Property_Plant_and_Equipment_D

Property, Plant and Equipment (Details) (USD $)	Apr. 04, 2014	Jan. 03, 2014
In Thousands, unless otherwise specified
Property, Plant and Equipment [Line Items]	'	'
Machinery and equipment	$17,011	$16,225
Furniture and fixtures	4,980	4,837
Leasehold improvements	7,516	6,552
Property, Plant and Equipment, Gross	29,507	27,614
Less: accumulated depreciation	20,675	20,209
Property, Plant and Equipment, Net	$8,832	$7,405

Amortizable_Intangible_Assets_1

Amortizable Intangible Assets (Details) (USD $)	Apr. 04, 2014	Jan. 03, 2014
In Thousands, unless otherwise specified
Amortized intangible assets:	'	'
Amortizable intangible assets, Gross Carrying Amount	$13,107	$13,074
Amortizable intangible assets, Accumulated Amortization	-11,819	-11,694
Amortizable intangible assets, Net	1,288	1,380
Patents and Licenses [Member]	'	'
Amortized intangible assets:	'	'
Amortizable intangible assets, Gross Carrying Amount	10,644	10,637
Amortizable intangible assets, Accumulated Amortization	-10,114	-10,057
Amortizable intangible assets, Net	530	580
Customer relationships [Member]	'	'
Amortized intangible assets:	'	'
Amortizable intangible assets, Gross Carrying Amount	1,506	1,490
Amortizable intangible assets, Accumulated Amortization	-941	-894
Amortizable intangible assets, Net	565	596
Developed technology [Member]	'	'
Amortized intangible assets:	'	'
Amortizable intangible assets, Gross Carrying Amount	957	947
Amortizable intangible assets, Accumulated Amortization	-764	-743
Amortizable intangible assets, Net	$193	$204

Other_Current_Liabilities_Deta

Other Current Liabilities (Details) (USD $)	Apr. 04, 2014		Jan. 03, 2014
In Thousands, unless otherwise specified
Other Liabilities, Current [Line Items]	'		'
Accrued salaries and wages	$2,691		$1,630
Accrued severance	837		731
Accrued bonuses	583		935
Accrued insurance	373		551
Accrued audit fees	231		328
Accrued commission	229		528
Accrued income taxes	173		485
Other!(1)!	1,262	[1]	1,184	[1]
Other Liabilities, Current	$6,379		$6,372
[1]	No item in bOtherb above exceeds 5% of the total other current liabilities

Other_Current_Liabilities_Deta1

Other Current Liabilities (Details Textual)	3 Months Ended
	Apr. 04, 2014
Other Liabilities, Current [Line Items]	'
Percentage Of Other Current Liabilities	5.00%

Pension_Plans_Details

Pension Plans (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 04, 2014		Mar. 29, 2013
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]	'		'
Service cost	$116		$124
Interest cost	35		27
Expected return on plan assets	-27		-23
Net amortization of transitional obligation (a)	0	[1]	3	[1]
Amortization of prior service cost (a)	0	[1]	0	[1]
Actuarial loss, recognized in current period (a)	6	[1]	5	[1]
Net periodic pension cost	$130		$136
[1]	Amounts reclassified from accumulated other comprehensive income.

Pension_Plans_Details_Textual

Pension Plans (Details Textual) (Swiss Plan [Member], USD $)	3 Months Ended
	Apr. 04, 2014	Mar. 29, 2013
Swiss Plan [Member]	'	'
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]	'	'
Defined Benefit Plan, Contributions By Employer	$69,000	$59,000
Defined Benefit Plans, Estimated Future Employer Contributions in Current Fiscal Year	$217,000	'

Basic_and_Diluted_Income_Loss_2

Basic and Diluted Income (Loss) Per Share (Details) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Apr. 04, 2014	Mar. 29, 2013
Numerator:	'	'
Net income (loss)	($1,359)	$471
Weighted average common shares and denominator for basic calculation:	'	'
Weighted average common shares outstanding	38,116	36,660
Less: Unvested restricted stock	322	233
Denominator for basic calculation	37,794	36,427
Weighted average effects of potentially dilutive common stock:	'	'
Stock options	0	522
Warrants	0	400
Denominator for diluted calculation	37,794	37,418
Net income (loss) per share - basic (in dollars per share)	($0.04)	$0.01
Net income (loss) per share - diluted (in dollars per share)	($0.04)	$0.01
Restricted Stock [Member]	'	'
Weighted average effects of potentially dilutive common stock:	'	'
Restricted stock	0	69

Basic_and_Diluted_Income_Loss_3

Basic and Diluted Income (Loss) Per Share (Details Textual)	3 Months Ended
	Apr. 04, 2014	Mar. 29, 2013	Mar. 29, 2013
		Common Stock [Member]	Restricted Stock [Member]
Schedule Of Basic And Diluted Income Per Share [Line Items]	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,798,000	2,035,000	98,000

Geographic_and_Product_Data_De

Geographic and Product Data (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 04, 2014	Mar. 29, 2013
Geographic and Product Data [Line Items]	'	'
Net sales	$20,178	$18,001
Japan [Member]	'	'
Geographic and Product Data [Line Items]	'	'
Net sales	5,008	4,739
United States [Member]	'	'
Geographic and Product Data [Line Items]	'	'
Net sales	2,874	3,240
China [Member]	'	'
Geographic and Product Data [Line Items]	'	'
Net sales	2,225	2,071
Korea [Member]	'	'
Geographic and Product Data [Line Items]	'	'
Net sales	2,621	2,035
Spain [Member]	'	'
Geographic and Product Data [Line Items]	'	'
Net sales	1,618	1,291
Other [Member]	'	'
Geographic and Product Data [Line Items]	'	'
Net sales	$5,832	$4,625

Geographic_and_Product_Data_De1

Geographic and Product Data (Details 1) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 04, 2014	Mar. 29, 2013
Product Information [Line Items]	'	'
Net sales	$20,178	$18,001
Implantable Collamer Lenses [Member]	'	'
Product Information [Line Items]	'	'
Net sales	12,241	10,631
Intraocular Lenses [Member]	'	'
Product Information [Line Items]	'	'
Net sales	6,613	6,347
Core products [Member]	'	'
Product Information [Line Items]	'	'
Net sales	18,854	16,978
Other Surgical Products [Member]	'	'
Product Information [Line Items]	'	'
Net sales	$1,324	$1,023

Geographic_and_Product_Data_De2

Geographic and Product Data (Details Textual)	3 Months Ended
	Apr. 04, 2014	Mar. 29, 2013
Geographic and Product Data [Line Items]	'	'
Disclosure on Geographic Areas, Description of Revenue from External Customers	'The Company markets and sells its products in over 60 countries and has manufacturing sites in the United States and Switzerland. Other than the United States, Japan, Korea, China, and Spain the Company does not conduct business in any country in which its sales exceed 5% of consolidated sales. Sales are generally attributed to countries based on location of customers.100% of the Company’s sales are generated from the ophthalmic surgical product segment and therefore the Company operates as one operating segment for financial reporting purposes.	'
Number of Countries in which Entity Operates	60	'
Segment Sales To Consolidated Sales Percentage	100.00%	'
Single Customer [Member]	'	'
Geographic and Product Data [Line Items]	'	'
Concentration Risk, Percentage	13.00%	11.00%

StockBased_Compensation_Detail

Stock-Based Compensation (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 04, 2014	Mar. 29, 2013
Schedule of Employee Service Share-based Compensation [Line Items]	'	'
Employee stock expense	$797	$821
Restricted expense	293	188
Consultant compensation	22	25
Total	1,500	1,034
Restricted Stock Units (RSUs) [Member]	'	'
Schedule of Employee Service Share-based Compensation [Line Items]	'	'
Restricted expense	$388	$0

StockBased_Compensation_Detail1

Stock-Based Compensation (Details 1)	3 Months Ended
	Apr. 04, 2014	Mar. 29, 2013
Schedule of Employee Service Share-based Compensation [Line Items]	'	'
Expected dividend yield	0.00%	0.00%
Expected volatility	55.25%	73.44%
Risk-free interest rate	1.28%	0.61%
Expected term (in years)	'4 years 1 month 13 days	'4 years 1 month 13 days

StockBased_Compensation_Detail2

Stock-Based Compensation (Details 2)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 04, 2014
Employee Stock Option [Member]	'
Schedule of Employee Service Share-based Compensation [Line Items]	'
Options,Outstanding at January 3, 2014	3,299
Options, Granted, shares	383
Options, Exercised, Shares	-328
Options, Forfeited or expired, Shares	-7
Options,Outstanding at April 4, 2014	3,347
Options,Exercisable at April 4, 2014	2,274
Restricted Stock [Member]	'
Schedule of Employee Service Share-based Compensation [Line Items]	'
Options,Outstanding at January 3, 2014	341
Options, Granted, shares	2
Options,Vested,Shares	-90
Options, Forfeited or expired, Shares	0
Options,Exercisable at April 4, 2014	253
Restricted Stock Units (RSUs) [Member]	'
Schedule of Employee Service Share-based Compensation [Line Items]	'
Options,Outstanding at January 3, 2014	135
Options, Granted, shares	291
Options,Vested,Shares	-135
Options, Forfeited or expired, Shares	0
Options,Exercisable at April 4, 2014	291

StockBased_Compensation_Detail3

Stock-Based Compensation (Details Textual) (USD $)	3 Months Ended
	Apr. 04, 2014	Jan. 03, 2014
Schedule of Employee Service Share-based Compensation [Line Items]	'	'
Common stock, shares outstanding	38,123,000	37,911,000
Estimated Forfeiture Rate	6.92%	'
Share based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Term Of Options Granted	'15 years	'
Class of Warrant or Right, Outstanding	700,000	'
Warrants And Rights Exercisable	'	700,000
Restricted Stock [Member]	'	'
Schedule of Employee Service Share-based Compensation [Line Items]	'	'
Common stock, shares outstanding	252,685	'
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	694,296	'
Restricted Stock Units (RSUs) [Member]	'	'
Schedule of Employee Service Share-based Compensation [Line Items]	'	'
Common stock, shares outstanding	290,500	'
2003 Stock Option Plan [Member]	'	'
Schedule of Employee Service Share-based Compensation [Line Items]	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning Balance	3,347,000	'
Lower Range of Exercise Prices	0.95	'
Upper Range of Exercise Prices	16.59	'
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition	'10 years	'

Income_Taxes_Details_Textual

Income Taxes (Details Textual) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 04, 2014	Mar. 29, 2013
Income Taxes [Line Items]	'	'
Income Tax Expense (Benefit)	$219	$314

Manufacturing_Consolidation_Pr2

Manufacturing Consolidation Project and Tax Strategy (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 04, 2014
Schedule Of Restructuring Reserve By Type Of Cost [Line Items]	'
Liability at January 3, 2014	$759
Costs incurred and charged to expense	168
Cash payments	-78
Liability at April 4, 2014	849
Termination Benefits [Member]	'
Schedule Of Restructuring Reserve By Type Of Cost [Line Items]	'
Liability at January 3, 2014	731
Costs incurred and charged to expense	106
Cash payments	-16
Liability at April 4, 2014	821
Other Associated Costs [Member]	'
Schedule Of Restructuring Reserve By Type Of Cost [Line Items]	'
Liability at January 3, 2014	28
Costs incurred and charged to expense	62
Cash payments	-62
Liability at April 4, 2014	$28

Manufacturing_Consolidation_Pr3

Manufacturing Consolidation Project and Tax Strategy (Details Textual) (USD $)	3 Months Ended
	Apr. 04, 2014
Schedule Of Restructuring Reserve By Type Of Cost [Line Items]	'
Estimated Cost Of Project	$6,100,000
Cost Of Project	168,000
Estimated Cost Of Project Capital	100,000
Operating Loss Carryforwards	$122,000,000