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LCA-Vision Reports Second Quarter Financial Results
Date:7/28/2009

s a comprehensive eye analysis using new diagnostic tools to determine a patient's candidacy for laser vision correction and other refractive surgical procedures, as well as to screen for various eye diseases and irregularities. During the test, we intend to charge an AVA fee that will be credited toward the purchase of laser vision correction at our LasikPlus((R)) vision centers. AVA will allow us to more fully utilize our skilled surgeons, optometrists and staff with minimal capital expenditure. We intend to market this program through our website, in-center merchandising and by phone and email out-reach to former LasikPlus(R) patients in our test markets."

Near-Term Financial Outlook

LCA-Vision affirmed its intent to continue to manage cash and investments conservatively in 2009.

  • The company does not plan to open any new vision centers in 2009. LCA-Vision plans to restart its de novo new center opening program following improvements in the economy.
  • The company will continue to manage general and administrative expenses aggressively, which it now expects will decrease approximately 10% in 2009 compared with 2008.
  • The company expects marketing efficiency improvements in the third quarter with the lower spending levels.
  • The company expects center direct costs per center to decline in excess of 10% in 2009 compared with 2008.
  • The company expects capital expenditures to be approximately $1.0 million in 2009, down significantly from $14.9 million in 2008.

Comparing 2009 (the first full year of benefit from cost reductions) with 2007 (prior to cost reductions), the company expects monthly breakeven eyes per vision center to decline to 105 in 2009 from 125 in 2007, and expects the number of procedures per year required company-wide for breakeven cash flow from operations to decline to approximately 110
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SOURCE LCA-Vision Inc.
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5. LCA-Vision Announces the Opening of its 74th LasikPlus Vision Center in Des Moines, Iowa
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