LCA-Vision Announces Fourth Quarter and Full Year 2008 Financi...(ON FINANCIAL RESULTS (dollars in th...),Health

(dollars in thousands)

To supplement its condensed consolidated financial statements presented in accordance with accounting principles generally accepted in the United States, LCA-Vision discusses adjusted revenues and operating income. Management utilizes this information as a means of measuring performance that adjusts for the non-cash impact of the accounting for separately priced extended warranties and believes that including this additional disclosure is meaningful to investors for the same reason.

Accordingly, this news release contains non-GAAP financial measures within the meaning of Regulation G promulgated by the Securities and Exchange Commission. A reconciliation of the difference between the non-GAAP measures with the most directly comparable financial measures calculated in accordance with GAAP follows:

                                     Three Months Ended   Twelve Months Ended
                                         December 31,         December 31,
                                       2008      2007       2008       2007
    Revenue

      Reported                       $34,029   $69,702   $205,176   $292,635
      Adjustments
        Warranty revenue deferred
         into future                       -         -          -     20,054
        Amortization of prior
         deferred revenue             (3,769)   (6,836)   (18,719)   (28,067)
      Adjusted revenue               $30,260   $62,866   $186,457   $284,622


    Operating (Loss) Income

      Reported                       $(9,594)   $5,852    $(8,234)   $45,565
      Adjustments
        Impact of warranty revenue
         deferral                     (3,769)   (6,836)   (18,719)    (8,013)
        Professional fees deferred
         into future                       -         -          -     (2,005)
        Amortization of prior
         professional fee
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SOURCE  LCA-Vision Inc.
Copyright©2009 PR Newswire.
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