STAAR Surgical (STAA) 10-Q 3 May 17 2017 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2017	Apr. 28, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Entity Registrant Name	STAAR SURGICAL CO
Entity Central Index Key	718,937
Current Fiscal Year End Date	--12-30
Entity Filer Category	Accelerated Filer
Trading Symbol	STAA
Entity Common Stock, Shares Outstanding		40,932,317

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS $ in Thousands	Mar. 31, 2017USD ($)	Dec. 30, 2016USD ($)
Current assets:
Cash and cash equivalents	$ 13,500	$ 13,999
Accounts receivable trade, net of allowance for doubtful accounts of $2,295 and $2,056, respectively	15,621	16,344
Inventories, net	14,646	14,825
Prepayments, deposits, and other current assets	5,280	4,349
Total current assets	49,047	49,517
Property, plant and equipment, net	12,114	11,790
Intangible assets, net	439	473
Goodwill	1,786	1,786
Deferred income taxes	1,105	1,105
Other assets	948	772
Total assets	65,439	65,443
Current liabilities:
Line of credit	4,474	4,283
Accounts payable	7,602	8,311
Obligations under capital leases	1,294	1,198
Other current liabilities	8,425	7,275
Total current liabilities	21,795	21,067
Obligations under capital leases	1,425	1,339
Deferred income taxes	874	881
Asset retirement obligations	204	195
Deferred rent	58	59
Pension liability	4,121	3,997
Total liabilities	28,477	27,538
Commitments and contingencies (Note 12)
Stockholders' equity:
Common stock, $0.01 par value; 60,000 shares authorized; 40,889 and 40,732 shares issued and outstanding at March 31, 2017 and December 30, 2016, respectively	409	407
Additional paid-in capital	198,596	197,657
Accumulated other comprehensive loss	(731)	(1,050)
Accumulated deficit	(161,312)	(159,109)
Total stockholders’ equity	36,962	37,905
Total liabilities and stockholders’ equity	$ 65,439	$ 65,443

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Mar. 31, 2017	Dec. 30, 2016
Allowance for Doubtful Accounts Receivable, Current	$ 2,295	$ 2,056
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	60,000	60,000
Common stock, shares issued	40,889	40,732
Common stock, shares outstanding	40,889	40,732

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Apr. 01, 2016
Net sales	$ 20,350	$ 19,269
Cost of sales	5,773	6,276
Gross profit	14,577	12,993
General and administrative	5,359	8,465
Marketing and selling	6,530	7,675
Research and development	4,783	6,906
Operating loss	(2,095)	(10,053)
Other income (expense):
Interest expense, net	(28)	(28)
Gain (loss) on foreign currency transactions	(86)	458
Royalty income	131	22
Other income (expense), net	16	(44)
Total other income, net	33	408
Loss before income tax provision (benefit)	(2,062)	(9,645)
Income tax provision (benefit)	141	(1,604)
Net loss	$ (2,203)	$ (8,041)
Net loss per share - basic and diluted	$ (0.05)	$ (0.2)
Weighted average shares outstanding - basic and diluted	40,749	39,983

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Apr. 01, 2016
Net loss	$ (2,203)	$ (8,041)
Defined benefit pension plans:
Net change in plan assets	(14)	(11)
Reclassification into earnings	20	27
Foreign currency translation	448	732
Tax effect	(135)	(228)
Other comprehensive income, net of tax	319	520
Comprehensive loss	$ (1,884)	$ (7,521)

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Apr. 01, 2016
Cash flows from operating activities:
Net loss	$ (2,203)	$ (8,041)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation of property and equipment	756	591
Amortization of long-lived intangibles	54	54
Deferred income taxes	(7)	(1,639)
Change in net pension liability	66	118
Loss on disposal of property and equipment	67	0
Stock-based compensation expense	510	7,458
Provision for sales return and bad debt expense	232	(22)
Changes in working capital:
Accounts receivable trade, net	624	(317)
Inventories	402	564
Prepayments, deposits, and other current assets	(1,083)	(912)
Accounts payable	(1,157)	(435)
Other current liabilities	1,114	(398)
Net cash used in operating activities	(625)	(2,979)
Cash flows from investing activities:
Acquisition of property and equipment	(313)	(1,006)
Net cash used in investing activities	(313)	(1,006)
Cash flows from financing activities:
Repayment of capital lease obligations	(301)	(92)
Repurchase of employee common stock for taxes withheld	(217)	(611)
Proceeds from vested restricted stock and exercise of stock options	597	7
Net cash provided by (used in) financing activities	79	(696)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	360	247
Decrease in cash, cash equivalents and restricted cash	(499)	(4,434)
Cash, cash equivalents and restricted cash, at beginning of the period	14,118	13,521
Cash, cash equivalents and restricted cash, at end of the period	$ 13,619	$ 9,087

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies [Text Block]	Note 1 - Basis of Presentation and Significant Accounting Policies The condensed consolidated financial statements for the three months ended March 31, 2017 and April 1, 2016, 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 March 31, 2017 and April 1, 2016 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. During the quarter ended March 31, 2017, the Company adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2015-11, “Simplifying the Measurement of Inventory”. ASU 2015-11 requires a company to measure inventory at the lower of cost and net realizable value. Net realizable value is defined as the “estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation”. We adopted this standard as of December 31, 2016 (beginning of FY 2017). The adoption of ASU 2015-11 did not have a material effect on the consolidated financial statements. During the quarter ended March 31, 2017, the Company adopted ASU 2016-09, “Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting”, which simplified several aspects of the accounting for share-based payment transactions, including the income tax consequences, forfeitures, classification of awards as either equity or liabilities, and classification of awards on the statement of cash flows. We adopted this standard as of December 31, 2016 (beginning of FY 2017). The adoption of ASU 2016-09 did not have a material effect on the consolidated financial statements and prior periods were not restated. During the quarter ended March 31, 2017, the Company adopted ASU 2015-17, “Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes”, on a retrospective basis, which changes how deferred taxes are classified on the Company’s balance sheets. Accordingly, the Company adjusted the December 30, 2016 balance sheet for current and noncurrent deferred tax assets to conform to the presentation for the current quarter due to the adoption of ASU 2015-17. The ASU eliminates the requirement to present deferred tax liabilities and assets as current and noncurrent on the balance sheet. Instead, companies are required to classify all deferred tax assets and liabilities as noncurrent. We adopted this standard as of December 31, 2016 (beginning of FY 2017). The adoption of ASU 2015-17 did not have a material effect on the consolidated financial statements. During the quarter ended March 31, 2017, the Company adopted ASU 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash”, that requires that the statement of cash flows explain the change during the period in the total of cash, cash equivalents, and restricted cash and that restricted cash be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. We early adopted this standard as of December 31, 2016 (beginning of FY 2017). The adoption of ASU 2016-18 did not have a material effect on the consolidated financial statements, however, prior period restricted cash was added to beginning and ending cash and cash equivalents in the statement of cash flows to conform to the current presentation. March 31, December 30, April 1, January 1, 2017 2016 2016 2016 Cash and cash equivalents $ 13,500 $ 13,999 $ 8,968 $ 13,402 Restricted cash included in other long-term assets 119 119 119 119 Total cash, cash equivalents, and restricted cash $ 13,619 $ 14,118 $ 9,087 $ 13,521 The Company has restricted cash of approximately $119,000 set aside as collateral for a standby letter of credit required by the California Department of Public Health for unforeseen future regulatory costs related to the decommissioning of certain manufacturing equipment. Recent Accounting Pronouncements Not Yet Adopted In 2017, the FASB issued ASU No. 2017-07, “Compensation-Retirement Benefits (Topic 715), Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.” The standard requires that an employer report the service cost component in the same line items as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside of operating profit. The standard is effective for public companies for annual periods beginning after December 15, 2017, including interim periods within those annual periods. Prior periods are required to be recast. We will adopt this standard as of December 30, 2017 (beginning of FY 2018) and are currently evaluating the impact ASU 2017-07 will have on our consolidated financial statements. In 2016, the FASB issued ASU No. 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory”, which removes the prohibition in ASC 740 against the immediate recognition of the current and deferred income tax effects of intra-entity transfers of assets other than inventory. The ASU is effective for public companies for fiscal years beginning after December 15, 2017, and interim periods within those annual periods. The ASU should be applied on a modified retrospective basis, recognizing the effects in retained earnings as of the beginning of the year of adoption. We will adopt this standard as of December 30, 2017 (beginning of FY 2018) and are currently evaluating the impact ASU 2016-16 will have on our consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, “Intangibles—Goodwill and Other (Topic 350)”, which simplifies the test for goodwill impairment. ASU 2017-04 is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. The Company does not expect ASU 2017-04 to have a material effect on the consolidated financial statements. In August 2016, the FASB issued ASU 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments” (“ASU 2016-15”), which clarifies how companies present and classify certain cash receipts and cash payments in the statement of cash flows. ASU 2016-15 is effective for fiscal years beginning after December 15, 2017 and early adoption is permitted. The Company is currently evaluating the impact ASU 2016-15 will have on its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)”, which requires lessees to recognize assets and liabilities for leases with lease terms greater than twelve months in the statement of financial position. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. ASU 2016-02 also requires improved disclosures to help users of financial statements better understand the amount, timing and uncertainty of cash flows arising from leases. The update is effective for fiscal years beginning after December 15, 2018, including interim reporting periods within that reporting period. Early adoption is permitted. The Company is gathering data to evaluate the impact the adoption of ASU 2016-02 will have on its consolidated financial statements and expects to complete the evaluation by the third quarter of 2018. In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)”, which supersedes nearly all existing revenue recognition guidance under GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU 2014-09 defines a five-step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing GAAP. The revised revenue standard is effective for public entities for annual periods beginning after December 15, 2017, and interim periods therein, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients; or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures). In August 2015, ASU 2014-09 was amended by ASU No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date”, which defers the effective date of ASU 2014-09 by one year for all entities and permits early adoption on a limited basis. ASU 2014-09 was subsequently amended by four additional pronouncements: (i) ASU No. 2016-10, “Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing;” (ii) ASU No. 2016-11, “Revenue Recognition (Topic 605) and Derivatives and Hedging (Topic 815): Rescission of SEC Guidance Because of Accounting Standards Updates 2014-09 and 2014-16 Pursuant to Staff Announcements at the March 3, 2016 EITF Meeting”; (iii) ASU No. 2016-12, “Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients”; and (iv) ASU No. 2016-20, “Revenue from Contracts with Customers (Topic 606): Technical Corrections and Improvements to Topic 606”. The Company has completed an initial assessment of ASU 2014-09 and amendments, engaged a third-party to assist in the evaluation of the data, has begun gathering data, is working on an implementation plan and evaluating the disclosure requirements under the new standards. The Company expects to complete its assessment by the end of the third quarter of 2017, including the selection of the transition method.

Inventories, Net

Inventories, Net	3 Months Ended
	Mar. 31, 2017
Inventory Disclosure [Abstract]
Inventory Disclosure [Text Block]	Note 2 - Inventories, Net March 31, December 30, 2017 2016 Raw materials and purchased parts $ 2,090 $ 2,264 Work-in-process 1,744 1,924 Finished goods 13,711 14,268 17,545 18,456 Less: inventory reserves 2,899 3,631 $ 14,646 $ 14,825

Prepayments, Deposits, and Othe

Prepayments, Deposits, and Other Current Assets	3 Months Ended
	Mar. 31, 2017
Prepaid Expenses Deposits and Other Current Assets Disclosure [Abstract]
Prepayments, Deposits, and Other Current Assets Disclosure [Text Block]	Note 3 - Prepayments, Deposits, and Other Current Assets March 31, December 30, 2017 2016 Prepayments and deposits $ 1,567 $ 1,003 Prepaid insurance 972 935 Income tax receivable 376 686 Consumption tax receivable 567 573 Value added tax (VAT) receivable 782 668 BVG prepayment 350 — Other current assets (1) 666 484 $ 5,280 $ 4,349 (1)

Property, Plant and Equipment,

Property, Plant and Equipment, Net	3 Months Ended
	Mar. 31, 2017
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	Note 4 - Property, Plant and Equipment, Net March 31, December 30, 2017 2016 Machinery and equipment $ 18,747 $ 19,807 Furniture and fixtures 9,605 8,025 Leasehold improvements 9,564 9,179 37,916 37,011 Less: accumulated depreciation 25,802 25,221 $ 12,114 $ 11,790

Intangible Assets, Net

Intangible Assets, Net	3 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets Disclosure [Text Block]	Note 5 - Intangible Assets, Net March 31, 2017 December 30, 2016 Gross Gross Carrying Accumulated Carrying Accumulated Amount Amortization Net Amount Amortization Net Long-lived intangible assets: Patents and licenses $ 9,249 $ (8,951) $ 298 $ 9,224 $ (8,930) $ 294 Customer relationships 1,403 (1,298) 105 1,343 (1,209) 134 Developed technology 892 (856) 36 854 (809) 45 Total $ 11,544 $ (11,105) $ 439 $ 11,421 $ (10,948) $ 473

Other Current Liabilities

Other Current Liabilities	3 Months Ended
	Mar. 31, 2017
Other Liabilities Disclosure [Abstract]
Other Liabilities Disclosure [Text Block]	Note 6 - Other Current Liabilities Other current liabilities consisted of the following (in thousands): March 31, 2017 December 30, 2016 Accrued salaries and wages $ 2,945 $ 2,334 Accrued bonuses 2,240 1,414 Accrued consumption tax 151 424 Accrued insurance 722 501 Accrued income taxes 799 1,095 Other (1) 1,568 1,507 $ 8,425 $ 7,275 (1)

Pension Plans

Pension Plans	3 Months Ended
	Mar. 31, 2017
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]
Pension and Other Postretirement Benefits Disclosure [Text Block]	Note 7 - Pension Plans Three Months Ended Three Months Ended March 31, 2017 April 1, 2016 Service cost $ 127 $ 151 Interest cost 14 17 Expected return on plan assets (23) (22) Net amortization of transitional obligation (a) 3 3 Actuarial loss, recognized in current period (a) 17 24 $ 138 $ 173 (a) Amounts reclassified from accumulated other comprehensive loss. During the three months ended March 31, 2017 and April 1, 2016, the Company made cash contributions of approximately $467,000 and $419,000, respectively, to its Swiss pension plan and the Company is not required to make additional cash contributions during the remainder of 2017. The Company is not required to and does not make contributions to its Japan pension plan.

Basic and Diluted Loss Per Shar

Basic and Diluted Loss Per Share	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	Note 8 - Basic and Diluted Loss Per Share Three Months Ended March 31, 2017 April 1, 2016 Numerator: Net loss $ (2,203) $ (8,041) Denominator: Weighted average common shares and denominator for basic calculation: Weighted average common shares outstanding 40,772 39,983 Less: Unvested restricted stock 23 -- Denominator for basic and diluted calculation 40,749 39,983 Net loss per share – basic and diluted $ (0.05) $ (0.20) The following table sets forth the weighted average number of options and warrants to purchase shares of common stock and restricted stock, which were not included in the calculation of diluted per share amounts because the effects would be anti-dilutive (in thousands): Three Months Ended March 31, 2017 April 1, 2016 Options 2,567 2,730 Restricted stock and units 146 116 Total 2,713 2,846

Geographic and Product Data

Geographic and Product Data	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	Note 9 - Geographic and Product Data The Company markets and sells its products in over 60 10 Three Months Ended March 31, 2017 April 1, 2016 Japan $ 3,799 $ 4,240 China 4,463 3,078 United States 1,958 2,516 Korea 1,426 2,023 Other 8,704 7,412 Total $ 20,350 $ 19,269 100 Three Months Ended March 31, 2017 April 1, 2016 ICLs $ 15,271 $ 13,180 IOLs 4,606 5,067 Other Surgical Products 473 1,022 Total $ 20,350 $ 19,269 The Company sells its products internationally, which subjects the Company to several financial 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. Two customers, our distributors in Korea and China, accounted for 7 22 11 16 24 21

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Note 10 - Stock-Based Compensation Three Months Ended March 31, April 1, 2017 2016 Employee stock options $ 268 $ 4,896 Restricted stock 40 225 Restricted stock units 202 2,280 Nonemployee stock options — 57 Total $ 510 $ 7,458 Three Months Ended March 31, April 1, 2017 2016 Cost of sales $ 2 $ 560 General and administrative 264 3,394 Marketing and selling 116 1,531 Research and development 128 1,973 Total stock compensation expense 510 7,458 Amounts capitalized as part of inventory 52 152 Total $ 562 $ 7,610 Stock Option Plan 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 restricted stock units (RSUs). Options under the plan are granted at fair market value on the date of grant, become exercisable generally over a three-year period, or as determined by the Board of Directors, and expire over periods not exceeding 10 1,216,847 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 expected term of options granted is derived from the historical exercises and post-vesting cancellations and represents the period of time that options granted are expected to be outstanding. The Company has calculated a 5.4 Three Months Ended March 31, 2017 April 1, 2016 Expected dividend yield 0 0 % Expected volatility 57 % 57 % Risk-free interest rate 1.96 % 1.40 % Expected term (in years) 5.67 5.57 Options Shares (000’s) Outstanding at December 30, 2016 3,502 Granted 739 Exercised (116) Forfeited or expired (7) Outstanding at March 31, 2017 4,118 Exercisable at March 31, 2017 2,842 Restricted Restricted Shares Units (000’s) (000’s) Outstanding at December 30, 2016 23 274 Granted — 261 Vested — (62) Forfeited — — Outstanding at March 31, 2017 23 473

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	Note 11 - Income Taxes As discussed in Note 1 of the notes to the condensed consolidated financial statements, the Company adopted an accounting standard update regarding the recognition of excess tax benefits through the income statement upon settlement of share-based compensation awards. As the Company has a full valuation allowance, any realized benefits would be offset by the valuation allowance with no impact to the tax provision. Accordingly, there is no benefit reflected in the current tax provision and no restatement of the prior period. The Company’s quarterly provision for income taxes is determined by estimating an annual effective tax rate. This estimate may fluctuate throughout the year as new information becomes available affecting its underlying assumptions. The Company recorded an income tax provision of $ 141 The income tax benefit of $1.6 million for the three months ended April 1, 2016 was primarily due to net operating losses from our foreign operations, primarily due to the acceleration of stock compensation and tax benefits related to the dissolution of one of our foreign subsidiaries. All earnings from the Company’s subsidiaries are not considered to be permanently reinvested. Accordingly, the Company provides withholding and U.S. taxes on all unremitted foreign earnings. The Company reduced its deferred tax liability in 2016 related to withholding taxes from unremitted foreign earnings by the accumulated deficit of one of its foreign subsidiaries dissolved as of April 1, 2016.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	Note 12 - Commitments and Contingencies Lines of Credit and Guarantee The Company’s wholly owned Japanese subsidiary, STAAR Japan, has an agreement, as amended on or about November 21, 2016, with Mizuho Bank which provides for borrowings of up to 500,000,000 (approximately 0.12% as of March 31, 2017) plus a 0.50% spread, and may be renewed annually (the current line expires on November 21, 2017). 500,000,000 4.5 4.3 14 In August 2010, the Company’s wholly owned Swiss subsidiary, STAAR Surgical AG, entered into a credit agreement with Credit Suisse (the Bank). The credit agreement provides for borrowings of up to 1,000,000 0.25 Covenant Compliance The Company is in compliance with the covenants of its credit facilities as of the date of this filing. Lease Line of Credit (Capital Leases) On January 30, 2017, the Company entered into lease schedule 010 with Farnam Street Financial, Inc (“Farnam”). The line of credit provides for borrowings of up to $ 2.0 3.94% per $1 4.75% per $1 1,958,311 On January 31, 2017, the Company entered into lease schedule 009R with Farnam. Under 009R, equipment with a cost of $ 1,957,000 24 3.94% per $1 On June 12, 2014, the Company entered into lease schedule 008R with Farnam. Under the agreement, hardware and non-hardware with a cost of $ 964,612 36 2.81% per $1 3.12% per $1 49,420 Litigation and Claims From time to time the Company may be subject to various claims and legal proceedings arising out of the normal course of our business. These claims and legal proceedings may relate to contractual rights and obligations, employment matters, and claims of product liability. The most significant of these actions, proceedings and investigations are described below. STAAR maintains insurance coverage for product liability and certain securities claims. Legal proceedings can extend for several years, and the matters described below concerning the Company are at very early stages of the legal and administrative process. As a result, these matters have not yet progressed sufficiently through discovery and/or development of important factual information and legal issues to enable the Company to determine whether the proceedings are material to the Company or to estimate a range of possible loss, if any. Unless otherwise disclosed, the Company is unable to estimate the possible loss or range of loss for the legal proceedings described below. While it is not possible to accurately predict or determine outcomes of these items, an adverse determination in one or more of these items currently pending could have a material adverse effect on the Company’s consolidated results of operations, financial position, or cash flows. Stockholder Securities Litigation: Todd Action On July 8, 2014, a putative securities class action lawsuit was filed by Edward Todd against STAAR and three officers in the U.S. District Court for the Central District of California. Stockholder Derivative Litigation: Forestal Action On June 21, 2016, Kevin Forestal filed a stockholder derivative complaint against our then-current Board of Directors, which included Caren Mason, Mark B. Logan, Stephen C. Farrell, Richard A. Meier, John C. Moore, J. Steven Roush, Louis E. Silverman, and William P. Wall, and STAAR as well as Barry G. Caldwell and John S. Santos in the U.S. District Court for the Central District of California. The plaintiff alleges breaches of fiduciary duties by, among other things, allowing STAAR to disseminate misleading statements to investors regarding the condition of the Company’s Quality System, failing to properly oversee the Company, and unjust enrichment. The complaint seeks damages, restitution and governance reforms, attorneys’ fees, and costs. On January 31, 2017, the court granted the Company’s Motion to Dismiss. On February 6, 2017, plaintiff filed a Notice of Appeal. Although the ultimate outcome of this action cannot be determined with certainty, the Company believes that the allegations in the Complaint are without merit. The Company has not recorded any loss or accrual in the accompanying condensed consolidated financial statements at March 31, 2017 and December 30, 2016 for this matter as the likelihood and amount of loss, if any, has not been determined and is not currently estimable. Employment Agreements The Company’s Chief Executive Officer and certain officers have as provisions of their agreements certain rights, including continuance of cash compensation and benefits, upon a “change in control,” which may include an acquisition of substantially all of its assets, or termination “without cause or for good reason” as defined in the employment agreements.

Basis of Presentation and Sig19

Basis of Presentation and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	The condensed consolidated financial statements for the three months ended March 31, 2017 and April 1, 2016, 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 March 31, 2017 and April 1, 2016 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.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Pronouncements During the quarter ended March 31, 2017, the Company adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2015-11, “Simplifying the Measurement of Inventory”. ASU 2015-11 requires a company to measure inventory at the lower of cost and net realizable value. Net realizable value is defined as the “estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation”. We adopted this standard as of December 31, 2016 (beginning of FY 2017). The adoption of ASU 2015-11 did not have a material effect on the consolidated financial statements. During the quarter ended March 31, 2017, the Company adopted ASU 2016-09, “Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting”, which simplified several aspects of the accounting for share-based payment transactions, including the income tax consequences, forfeitures, classification of awards as either equity or liabilities, and classification of awards on the statement of cash flows. We adopted this standard as of December 31, 2016 (beginning of FY 2017). The adoption of ASU 2016-09 did not have a material effect on the consolidated financial statements and prior periods were not restated. During the quarter ended March 31, 2017, the Company adopted ASU 2015-17, “Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes”, on a retrospective basis, which changes how deferred taxes are classified on the Company’s balance sheets. Accordingly, the Company adjusted the December 30, 2016 balance sheet for current and noncurrent deferred tax assets to conform to the presentation for the current quarter due to the adoption of ASU 2015-17. The ASU eliminates the requirement to present deferred tax liabilities and assets as current and noncurrent on the balance sheet. Instead, companies are required to classify all deferred tax assets and liabilities as noncurrent. We adopted this standard as of December 31, 2016 (beginning of FY 2017). The adoption of ASU 2015-17 did not have a material effect on the consolidated financial statements. During the quarter ended March 31, 2017, the Company adopted ASU 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash”, that requires that the statement of cash flows explain the change during the period in the total of cash, cash equivalents, and restricted cash and that restricted cash be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. We early adopted this standard as of December 31, 2016 (beginning of FY 2017). The adoption of ASU 2016-18 did not have a material effect on the consolidated financial statements, however, prior period restricted cash was added to beginning and ending cash and cash equivalents in the statement of cash flows to conform to the current presentation. March 31, December 30, April 1, January 1, 2017 2016 2016 2016 Cash and cash equivalents $ 13,500 $ 13,999 $ 8,968 $ 13,402 Restricted cash included in other long-term assets 119 119 119 119 Total cash, cash equivalents, and restricted cash $ 13,619 $ 14,118 $ 9,087 $ 13,521 The Company has restricted cash of approximately $119,000 set aside as collateral for a standby letter of credit required by the California Department of Public Health for unforeseen future regulatory costs related to the decommissioning of certain manufacturing equipment. Recent Accounting Pronouncements Not Yet Adopted In 2017, the FASB issued ASU No. 2017-07, “Compensation-Retirement Benefits (Topic 715), Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.” The standard requires that an employer report the service cost component in the same line items as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside of operating profit. The standard is effective for public companies for annual periods beginning after December 15, 2017, including interim periods within those annual periods. Prior periods are required to be recast. We will adopt this standard as of December 30, 2017 (beginning of FY 2018) and are currently evaluating the impact ASU 2017-07 will have on our consolidated financial statements. In 2016, the FASB issued ASU No. 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory”, which removes the prohibition in ASC 740 against the immediate recognition of the current and deferred income tax effects of intra-entity transfers of assets other than inventory. The ASU is effective for public companies for fiscal years beginning after December 15, 2017, and interim periods within those annual periods. The ASU should be applied on a modified retrospective basis, recognizing the effects in retained earnings as of the beginning of the year of adoption. We will adopt this standard as of December 30, 2017 (beginning of FY 2018) and are currently evaluating the impact ASU 2016-16 will have on our consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, “Intangibles—Goodwill and Other (Topic 350)”, which simplifies the test for goodwill impairment. ASU 2017-04 is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. The Company does not expect ASU 2017-04 to have a material effect on the consolidated financial statements. In August 2016, the FASB issued ASU 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments” (“ASU 2016-15”), which clarifies how companies present and classify certain cash receipts and cash payments in the statement of cash flows. ASU 2016-15 is effective for fiscal years beginning after December 15, 2017 and early adoption is permitted. The Company is currently evaluating the impact ASU 2016-15 will have on its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)”, which requires lessees to recognize assets and liabilities for leases with lease terms greater than twelve months in the statement of financial position. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. ASU 2016-02 also requires improved disclosures to help users of financial statements better understand the amount, timing and uncertainty of cash flows arising from leases. The update is effective for fiscal years beginning after December 15, 2018, including interim reporting periods within that reporting period. Early adoption is permitted. The Company is gathering data to evaluate the impact the adoption of ASU 2016-02 will have on its consolidated financial statements and expects to complete the evaluation by the third quarter of 2018. In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)”, which supersedes nearly all existing revenue recognition guidance under GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU 2014-09 defines a five-step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing GAAP. The revised revenue standard is effective for public entities for annual periods beginning after December 15, 2017, and interim periods therein, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients; or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures). In August 2015, ASU 2014-09 was amended by ASU No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date”, which defers the effective date of ASU 2014-09 by one year for all entities and permits early adoption on a limited basis. ASU 2014-09 was subsequently amended by four additional pronouncements: (i) ASU No. 2016-10, “Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing;” (ii) ASU No. 2016-11, “Revenue Recognition (Topic 605) and Derivatives and Hedging (Topic 815): Rescission of SEC Guidance Because of Accounting Standards Updates 2014-09 and 2014-16 Pursuant to Staff Announcements at the March 3, 2016 EITF Meeting”; (iii) ASU No. 2016-12, “Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients”; and (iv) ASU No. 2016-20, “Revenue from Contracts with Customers (Topic 606): Technical Corrections and Improvements to Topic 606”. The Company has completed an initial assessment of ASU 2014-09 and amendments, engaged a third-party to assist in the evaluation of the data, has begun gathering data, is working on an implementation plan and evaluating the disclosure requirements under the new standards. The Company expects to complete its assessment by the end of the third quarter of 2017, including the selection of the transition method.

Basis of Presentation and Sig20

Basis of Presentation and Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Schedule of Cash and Cash Equivalents [Table Text Block]	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheet that sum to the total of the same such amounts shown in the condensed consolidated statement of cash flows (in 000’s): March 31, December 30, April 1, January 1, 2017 2016 2016 2016 Cash and cash equivalents $ 13,500 $ 13,999 $ 8,968 $ 13,402 Restricted cash included in other long-term assets 119 119 119 119 Total cash, cash equivalents, and restricted cash $ 13,619 $ 14,118 $ 9,087 $ 13,521

Inventories, Net (Tables)

Inventories, Net (Tables)	3 Months Ended
	Mar. 31, 2017
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	Inventories, net are stated at the lower of cost and net realizable value, determined on a first-in, first-out basis, and consisted of the following (in thousands): March 31, December 30, 2017 2016 Raw materials and purchased parts $ 2,090 $ 2,264 Work-in-process 1,744 1,924 Finished goods 13,711 14,268 17,545 18,456 Less: inventory reserves 2,899 3,631 $ 14,646 $ 14,825

Prepayments, Deposits, and Ot22

Prepayments, Deposits, and Other Current Assets (Tables)	3 Months Ended
	Mar. 31, 2017
Prepaid Expenses and Other Current Assets Disclosure [Abstract]
Schedule Of Prepayments, Deposits, and Other Current Assets Disclosure [Table Text Block]	Prepayments, deposits, and other current assets consisted of the following (in thousands): March 31, December 30, 2017 2016 Prepayments and deposits $ 1,567 $ 1,003 Prepaid insurance 972 935 Income tax receivable 376 686 Consumption tax receivable 567 573 Value added tax (VAT) receivable 782 668 BVG prepayment 350 — Other current assets (1) 666 484 $ 5,280 $ 4,349 (1)

Property, Plant and Equipment23

Property, Plant and Equipment, Net (Tables)	3 Months Ended
	Mar. 31, 2017
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment [Table Text Block]	Property, plant and equipment, net consisted of the following (in thousands): March 31, December 30, 2017 2016 Machinery and equipment $ 18,747 $ 19,807 Furniture and fixtures 9,605 8,025 Leasehold improvements 9,564 9,179 37,916 37,011 Less: accumulated depreciation 25,802 25,221 $ 12,114 $ 11,790

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	3 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets [Table Text Block]	Intangible assets, net consisted of the following (in thousands): March 31, 2017 December 30, 2016 Gross Gross Carrying Accumulated Carrying Accumulated Amount Amortization Net Amount Amortization Net Long-lived intangible assets: Patents and licenses $ 9,249 $ (8,951) $ 298 $ 9,224 $ (8,930) $ 294 Customer relationships 1,403 (1,298) 105 1,343 (1,209) 134 Developed technology 892 (856) 36 854 (809) 45 Total $ 11,544 $ (11,105) $ 439 $ 11,421 $ (10,948) $ 473

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	3 Months Ended
	Mar. 31, 2017
Other Liabilities Disclosure [Abstract]
Schedule of Accrued Liabilities [Table Text Block]	Other current liabilities consisted of the following (in thousands): March 31, 2017 December 30, 2016 Accrued salaries and wages $ 2,945 $ 2,334 Accrued bonuses 2,240 1,414 Accrued consumption tax 151 424 Accrued insurance 722 501 Accrued income taxes 799 1,095 Other (1) 1,568 1,507 $ 8,425 $ 7,275 (1)

Pension Plans (Tables)

Pension Plans (Tables)	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 April 1, 2016 Service cost $ 127 $ 151 Interest cost 14 17 Expected return on plan assets (23) (22) Net amortization of transitional obligation (a) 3 3 Actuarial loss, recognized in current period (a) 17 24 $ 138 $ 173 (a) Amounts reclassified from accumulated other comprehensive loss.

Basic and Diluted Loss Per Sh27

Basic and Diluted Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2017
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 loss per share (in thousands except per share amounts): Three Months Ended March 31, 2017 April 1, 2016 Numerator: Net loss $ (2,203) $ (8,041) Denominator: Weighted average common shares and denominator for basic calculation: Weighted average common shares outstanding 40,772 39,983 Less: Unvested restricted stock 23 -- Denominator for basic and diluted calculation 40,749 39,983 Net loss per share – basic and diluted $ (0.05) $ (0.20)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	The following table sets forth the weighted average number of options and warrants to purchase shares of common stock and restricted stock, which were not included in the calculation of diluted per share amounts because the effects would be anti-dilutive (in thousands): Three Months Ended March 31, 2017 April 1, 2016 Options 2,567 2,730 Restricted stock and units 146 116 Total 2,713 2,846

Geographic and Product Data (Ta

Geographic and Product Data (Tables)	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Revenue from External Customers by Geographic Areas [Table Text Block]	The composition of the Company’s net sales to unaffiliated customers is set forth below (in thousands): Three Months Ended March 31, 2017 April 1, 2016 Japan $ 3,799 $ 4,240 China 4,463 3,078 United States 1,958 2,516 Korea 1,426 2,023 Other 8,704 7,412 Total $ 20,350 $ 19,269
Revenue from External Customers by Products and Services [Table Text Block]	Three Months Ended March 31, 2017 April 1, 2016 ICLs $ 15,271 $ 13,180 IOLs 4,606 5,067 Other Surgical Products 473 1,022 Total $ 20,350 $ 19,269

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule Of Compensation Cost [Table Text Block]	The cost that has been charged against income for stock-based compensation is set forth below (in thousands): Three Months Ended March 31, April 1, 2017 2016 Employee stock options $ 268 $ 4,896 Restricted stock 40 225 Restricted stock units 202 2,280 Nonemployee stock options — 57 Total $ 510 $ 7,458
Schedule Of Share-Based Compensation, Stock Options, Activity [Table Text Block]	The Company recorded stock-based compensation cost in the following categories on the accompanying condensed consolidated statements of operations (in thousands): Three Months Ended March 31, April 1, 2017 2016 Cost of sales $ 2 $ 560 General and administrative 264 3,394 Marketing and selling 116 1,531 Research and development 128 1,973 Total stock compensation expense 510 7,458 Amounts capitalized as part of inventory 52 152 Total $ 562 $ 7,610
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 March 31, 2017 April 1, 2016 Expected dividend yield 0 0 % Expected volatility 57 % 57 % Risk-free interest rate 1.96 % 1.40 % Expected term (in years) 5.67 5.57
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]	Options Shares (000’s) Outstanding at December 30, 2016 3,502 Granted 739 Exercised (116) Forfeited or expired (7) Outstanding at March 31, 2017 4,118 Exercisable at March 31, 2017 2,842
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]	A summary of restricted stock and restricted stock units activity under the Plan for the period ended March 31, 2017 is presented below: Restricted Restricted Shares Units (000’s) (000’s) Outstanding at December 30, 2016 23 274 Granted — 261 Vested — (62) Forfeited — — Outstanding at March 31, 2017 23 473

Basis of Presentation and Sig30

Basis of Presentation and Significant Accounting Polices (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 30, 2016	Apr. 01, 2016	Jan. 01, 2016
Cash and cash equivalents	$ 13,500	$ 13,999	$ 8,968	$ 13,402
Restricted cash included in other long-term assets	119	119	119	119
Total cash, cash equivalents, and restricted cash as shown in the statement of cash flows	$ 13,619	$ 14,118	$ 9,087	$ 13,521

Basis of Presentation and Sig31

Basis of Presentation and Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 30, 2016	Apr. 01, 2016	Jan. 01, 2016
Organization And Description Of Business And Accounting Policies [Line Items]
Restricted Cash and Cash Equivalents, Current	$ 119	$ 119	$ 119	$ 119

Inventories, Net (Details)

Inventories, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 30, 2016
Inventory [Line Items]
Raw materials and purchased parts	$ 2,090	$ 2,264
Work-in-process	1,744	1,924
Finished goods	13,711	14,268
Inventory, Gross	17,545	18,456
Less: inventory reserves	2,899	3,631
Inventory, Net	$ 14,646	$ 14,825

Prepayments, Deposits, and Ot33

Prepayments, Deposits, and Other Current Assets (Details) - USD ($) $ in Thousands		Mar. 31, 2017	Dec. 30, 2016
Prepayments, Deposits, and Other Current Assets [Line Items]
Prepayments and deposits		$ 1,567	$ 1,003
Prepaid insurance		972	935
Income tax receivable		376	686
Consumption tax receivable		567	573
Value added tax (VAT) receivable		782	668
BVG prepayment		350	0
Other current assets	[1]	666	484
Prepayments, deposits, and other current assets		$ 5,280	$ 4,349
[1]	No item in “Other” above exceeds 5% of the total other prepayments, deposits, and current assets.

Property, Plant and Equipment34

Property, Plant and Equipment, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 30, 2016
Property, Plant and Equipment [Line Items]
Machinery and equipment	$ 18,747	$ 19,807
Furniture and fixtures	9,605	8,025
Leasehold improvements	9,564	9,179
Property, Plant and Equipment, Gross	37,916	37,011
Less: accumulated depreciation	25,802	25,221
Property, plant and equipment, net	$ 12,114	$ 11,790

Intangible Assets, Net (Details

Intangible Assets, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 30, 2016
Long-lived intangible assets:
Long-lived intangible assets, Gross Carrying Amount	$ 11,544	$ 11,421
Long-lived intangible assets, Accumulated Amortization	(11,105)	(10,948)
Long-lived intangible assets, Net	439	473
Patents and Licenses [Member]
Long-lived intangible assets:
Long-lived intangible assets, Gross Carrying Amount	9,249	9,224
Long-lived intangible assets, Accumulated Amortization	(8,951)	(8,930)
Long-lived intangible assets, Net	298	294
Customer relationships [Member]
Long-lived intangible assets:
Long-lived intangible assets, Gross Carrying Amount	1,403	1,343
Long-lived intangible assets, Accumulated Amortization	(1,298)	(1,209)
Long-lived intangible assets, Net	105	134
Developed technology [Member]
Long-lived intangible assets:
Long-lived intangible assets, Gross Carrying Amount	892	854
Long-lived intangible assets, Accumulated Amortization	(856)	(809)
Long-lived intangible assets, Net	$ 36	$ 45

Other Current Liabilities (Deta

Other Current Liabilities (Details) - USD ($) $ in Thousands		Mar. 31, 2017	Dec. 30, 2016
Other Liabilities, Current [Line Items]
Accrued salaries and wages		$ 2,945	$ 2,334
Accrued bonuses		2,240	1,414
Accrued consumption tax		151	424
Accrued insurance		722	501
Accrued income taxes		799	1,095
Other	[1]	1,568	1,507
Other current liabilities		$ 8,425	$ 7,275
[1]	No item in “Other” above exceeds 5% of the total other current liabilities

Pension Plans (Details)

Pension Plans (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2017	Apr. 01, 2016
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost		$ 127	$ 151
Interest cost		14	17
Expected return on plan assets		(23)	(22)
Net amortization of transitional obligation	[1]	3	3
Actuarial loss recognized in current period	[1]	17	24
Total		$ 138	$ 173
[1]	Amounts reclassified from accumulated other comprehensive loss.

Pension Plans (Details Textual)

Pension Plans (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2017	Apr. 01, 2016
Swiss Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Contributions By Employer	$ 467,000	$ 419,000

Basic and Diluted Loss Per Sh39

Basic and Diluted Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Apr. 01, 2016
Numerator:
Net loss	$ (2,203)	$ (8,041)
Weighted average common shares and denominator for basic calculation:
Weighted average common shares outstanding	40,772	39,983
Less: Unvested restricted stock	23	0
Denominator for basic and diluted calculation	40,749	39,983
Net loss per share - basic and diluted (in dollars per share)	$ (0.05)	$ (0.2)

Basic and Diluted Loss Per Sh40

Basic and Diluted Loss Per Share (Details 1) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2017	Apr. 01, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,713	2,846
Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,567	2,730
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	146	116

Geographic and Product Data (De

Geographic and Product Data (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Apr. 01, 2016
Geographic And Sales [Line Items]
Net sales	$ 20,350	$ 19,269
Japan [Member]
Geographic And Sales [Line Items]
Net sales	3,799	4,240
China [Member]
Geographic And Sales [Line Items]
Net sales	4,463	3,078
United States [Member]
Geographic And Sales [Line Items]
Net sales	1,958	2,516
Korea [Member]
Geographic And Sales [Line Items]
Net sales	1,426	2,023
Other [Member]
Geographic And Sales [Line Items]
Net sales	$ 8,704	$ 7,412

Geographic and Product Data (42

Geographic and Product Data (Details 1) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Apr. 01, 2016
Product Information [Line Items]
Net sales	$ 20,350	$ 19,269
ICLs [Member]
Product Information [Line Items]
Net sales	15,271	13,180
IOLs [Member]
Product Information [Line Items]
Net sales	4,606	5,067
Other surgical products [Member]
Product Information [Line Items]
Net sales	$ 473	$ 1,022

Geographic and Product Data (43

Geographic and Product Data (Details Textual)	Apr. 01, 2016	Mar. 31, 2017	Apr. 01, 2016
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 conducts its manufacturing in the United States. Other than Japan, China, the United States, and Korea, the Company does not conduct business in any country in which its sales exceed 10% of consolidated net sales.
Segment Sales To Consolidated Sales Percentage		100.00%
Number of Countries in which Entity Operates		60
Sales Exceed Percentage		10.00%
Customer One [Member] | Accounts Receivable [Member]
Geographic and Product Data [Line Items]
Concentration Risk, Percentage	21.00%	24.00%	11.00%
Customer One [Member] | Sales Revenue, Net [Member]
Geographic and Product Data [Line Items]
Concentration Risk, Percentage		7.00%
Customer Two [Member] | Accounts Receivable [Member]
Geographic and Product Data [Line Items]
Concentration Risk, Percentage			16.00%
Customer Two [Member] | Sales Revenue, Net [Member]
Geographic and Product Data [Line Items]
Concentration Risk, Percentage		22.00%

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Apr. 01, 2016
Schedule of Employee Service Share-based Compensation [Line Items]
Share-based Compensation	$ 510	$ 7,458
Employee stock options [Member]
Schedule of Employee Service Share-based Compensation [Line Items]
Share-based Compensation	268	4,896
Restricted stock [Member]
Schedule of Employee Service Share-based Compensation [Line Items]
Share-based Compensation	40	225
Restricted stock units [Member]
Schedule of Employee Service Share-based Compensation [Line Items]
Share-based Compensation	202	2,280
Nonemployee stock options [Member]
Schedule of Employee Service Share-based Compensation [Line Items]
Share-based Compensation	$ 0	$ 57

Stock-Based Compensation (Det45

Stock-Based Compensation (Details 1) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Apr. 01, 2016
Schedule of Employee Service Share-based Compensation [Line Items]
Total stock compensation expense	$ 510	$ 7,458
Amounts capitalized as part of inventory	52	152
Total	562	7,610
Cost of Sales [Member]
Schedule of Employee Service Share-based Compensation [Line Items]
Total stock compensation expense	2	560
General and administrative [Member]
Schedule of Employee Service Share-based Compensation [Line Items]
Total stock compensation expense	264	3,394
Marketing and selling [Member]
Schedule of Employee Service Share-based Compensation [Line Items]
Total stock compensation expense	116	1,531
Research and development [Member]
Schedule of Employee Service Share-based Compensation [Line Items]
Total stock compensation expense	$ 128	$ 1,973

Stock-Based Compensation (Det46

Stock-Based Compensation (Details 2)	3 Months Ended
	Mar. 31, 2017	Apr. 01, 2016
Schedule of Employee Service Share-based Compensation [Line Items]
Expected dividend yield	0.00%	0.00%
Expected volatility	57.00%	57.00%
Risk-free interest rate	1.96%	1.40%
Expected term (in years)	5 years 8 months 1 day	5 years 6 months 25 days

Stock-Based Compensation (Det47

Stock-Based Compensation (Details 3) shares in Thousands	3 Months Ended
	Mar. 31, 2017shares
Schedule of Employee Service Share-based Compensation [Line Items]
Options,Outstanding at December 30, 2016	3,502
Options, Granted, Shares	739
Options, Exercised, Shares	(116)
Options, Forfeited or expired, Shares	(7)
Options,Outstanding at March 31, 2017	4,118
Options,Exercisable at March 31, 2017	2,842

Stock-Based Compensation (Det48

Stock-Based Compensation (Details 4) shares in Thousands	3 Months Ended
	Mar. 31, 2017shares
Restricted Stock [Member]
Outstanding at December 30, 2016	23
Granted, (In Shares)	0
Vested (In shares)	0
Forfeited or expired (In shares)	0
Outstanding at March 31, 2017	23
Restricted Stock Units (RSUs) [Member]
Outstanding at December 30, 2016	274
Granted, (In Shares)	261
Vested (In shares)	(62)
Forfeited or expired (In shares)	0
Outstanding at March 31, 2017	473

Stock-Based Compensation (Det49

Stock-Based Compensation (Details Textual) - shares	3 Months Ended
	Mar. 31, 2017	May 31, 2017
Schedule of Employee Service Share-based Compensation [Line Items]
Estimated Forfeiture Rate	5.40%
Omnibus Plan [Member]
Schedule of Employee Service Share-based Compensation [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Omnibus Plan [Member] | Restricted Stock [Member]
Schedule of Employee Service Share-based Compensation [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant		1,216,847

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($) $ in Thousands	Apr. 01, 2016	Mar. 31, 2017	Apr. 01, 2016
Income Taxes [Line Items]
Income Tax Expense (Benefit)	$ (1,600)	$ 141	$ (1,604)

Commitments and Contingencies (

Commitments and Contingencies (Details Textual)	Jun. 12, 2014USD ($)	Jan. 31, 2017	Jan. 30, 2017USD ($)	Mar. 31, 2017USD ($)	May 31, 2017USD ($)	Mar. 31, 2017JPY (¥)	Mar. 31, 2017CHF (SFr)	Dec. 30, 2016USD ($)	Nov. 21, 2016JPY (¥)
Line of Credit Facility, Maximum Borrowing Capacity | ¥									¥ 500,000,000
Line Of Credit, Current				$ 4,474,000		¥ 500,000,000		$ 4,283,000
Line of Credit Facility, Current Borrowing Capacity | SFr							SFr 1,000,000
Interest Rate Increase In Case Of Default				14.00%
Percentage Of Commission On Outstanding Notes Payable				0.25%
Payments to Acquire Equipment on Lease				$ 1,958,311
lease schedule 009R [Member]
Payments to Acquire Equipment on Lease				$ 1,795,954
Sale Leaseback Transaction Net Proceeds Expiration Term				24 months
lease schedule 008R [Member]
Payments to Acquire Equipment on Lease	$ 964,612			$ 49,420
Sale Leaseback Transaction Net Proceeds Expiration Term				36 months
Lease Line Of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity			$ 2,000,000
Line of Credit Facility, Current Borrowing Capacity								1,957,000
Hardware Equipment [Member] | lease schedule 008R [Member]
Sale Leaseback Transaction, Imputed Interest Rate Term	2.81% per $1
Hardware Equipment [Member] | Lease Line Of Credit [Member]
Sale Leaseback Transaction, Imputed Interest Rate Term		3.94% per $1	3.94% per $1
Non-Hardware Equipment [Member] | lease schedule 008R [Member]
Sale Leaseback Transaction, Imputed Interest Rate Term	3.12% per $1
Non-Hardware Equipment [Member] | Lease Line Of Credit [Member]
Sale Leaseback Transaction, Imputed Interest Rate Term		4.75% per $1	4.75% per $1
Mizuho Bank [Member]
Line of Credit Facility, Interest Rate Description				(approximately 0.12% as of March 31, 2017) plus a 0.50% spread, and may be renewed annually (the current line expires on November 21, 2017).
Foreign Exchange [Member]
Line Of Credit, Current					$ 4,500,000			$ 4,300,000