LCA-Vision Announces Fourth Quarter and Full Year 2008 Financi...(25 25 Contributed capital ...),Health

Date:2/10/2009

25 25 Contributed capital 174,206 172,965 Common stock in treasury, at cost (6,646,449 (114,632) (114,427) shares and 6,631,586 shares) Retained earnings 23,515 34,597 Accumulated other comprehensive (loss) income (129) 439 Total stockholders' investment 82,985 93,599 Total liabilities and stockholders' investment $157,482 $179,647

                                    LCA-VISION INC.
                         CONSOLIDATED STATEMENTS OF CASH FLOWS

                                                     Years Ended December 31,
                                                            2008      2007
                                                       (dollars in thousands)
    Cash flow from operating activities:
    Net (loss) income                                      $(6,635)  $32,504
    Adjustments to reconcile net income to net cash
     provided by operating activities:
      Depreciation                                          17,972    11,209
      Provision for loss on doubtful accounts                5,355     7,675
      Loss on investment                                     3,125         -
      Restructuring expense                                  1,426         -
      Impairment of fixed assets                               553         -
      Deferred income taxes                                  4,965     5,369
      Stock-based compensation                               1,878     5,024
      Insurance reserve                                        996     2,330
      Equity in earnings from unconsolidated affiliates       (477)     (814)
      Distributions from unconsolidated affiliates             690     1,128
      Changes in operating assets and liabilities
        Patient receivable  
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SOURCE  LCA-Vision Inc.
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