Tuesday, July 28, 2009

LCA-Vision Reports Second Quarter Financial Results

“LCA-Vision Inc. (Nasdaq: LCAV), a leading provider of laser vision correction services under the LasikPlus((R)) brand, today announced financial and operating results for the three and six months ended June 30, 2009. Second Quarter 2009 Operational and Financial Results (all comparisons are versus the second quarter of 2008) Revenue was $31.7 million compared with $54.2 million; adjusted revenue was $29.4 million compared with $49.2 million. ‘We are actively adapting to the current economic reality by becoming more nimble and flexible in our operations and have established company-wide business priorities in an effort to improve procedure volume, reduce costs and conserve cash,’ Straus added. ‘For example, we are implementing strategies to increase patient acquisition through partnering programs such as our new marketing relationship with one of the world's largest airlines, which will announce our partnership next week, joining the International Health, Racquet & Sportsclub Association, or IHRSA, as an associate member with its 9,750 member facilities, and by capitalizing on our relationships with health and vision plans that reduce the out-of-pocket cost to the patient - a leading factor in the decision-making process. We also are addressing patient candidacy through our internally developed second-opinion screening tools approved by our Medical Advisory Board, and are energizing our LCA-Vision/LasikPlus(R) staff to become more results-oriented through training and increasing accountability.’”


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