LCA-Vision Announces Fourth Quarter and Full Year 2008 Financi...(metric Advisory Board comprised of a gro...),Health

Date:2/10/2009

metric Advisory Board, comprised of a group of LasikPlus(R) optometrists, created strong partnerships between field staff and corporate support departments, and increased and improved communication across the entire company, which helps all members stay connected and improve morale.

"We have executed agreements with major managed health care and vision plans, a major source of patients in our LasikPlus(R) vision centers, and we have exclusive or preferred agreements with seven of the top eight vision plans in the United States," added Straus. "We recently initiated our affiliation with the well-respected National Vision Administrators, L.L.C. to provide its members with access to substantial discounts on laser vision correction through our National Lasik Network."

"Additionally, our fresh marketing approach is producing highly encouraging initial results," he said. "Following research and a segmentation study, we developed cost-effective, market-specific plans, which deliver a message that clearly differentiates LasikPlus(R) to targeted audiences, while building brand awareness through integrated marketing materials. Our test of this new concept in 13 markets over a three-week period late in 2008 resulted in a 34% increase in eye procedures performed compared to the prior four weeks. We expect to roll out the new campaigns nationally in March 2009."

LCA-Vision's Chief Financial Officer Michael Celebrezze commented, "The benefits of our cost-control and cash-conservation measures began to have impact on our 2008 financial results and we expect additional impact from these measures in 2009. We reduced marketing spend from $66.5 million in 2007 to $52.4 million in 2008, cut general and administrative overhead expense from $22.7 million in 2007 to $20.3 million in 2008, and reduced capital expenditures from $28.6 million in 2007 to $14.9 million in 2008. Expense-redu
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SOURCE LCA-Vision Inc. Copyright©2009 PR Newswire. All rights reserved

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