LASIK Giant LCA Vision Posts Staggering 4th Quarter Losses
Cincinnati-based LCA vision - a nationwide LASIK laser vision correction provider - posted a loss of over 8 million dollars in the last quarter of 2008.
According to a recent Cincinnati Business Journal report, the company performed roughly half the number of eye surgery procedures as the previous year. The number of procedures fell from nearly 40,000 in 2007 to a staggering 19,424 in the 4th quarter of last year.
Revenue at 69 of their 75 laser vision correction centers was down 54 percent. Despite
all the gloomy statistics, company spokespersons seem to think there is light at the end of the tunnel; CEO Steven Strauss says the new year brought a few signs of stabilization.
January procedure volume saw a 48 percent hike over December's numbers. "Although January is typically our highest volume month, this significant increase compares favorably to our 14 percent volume increase in January 2008 versus December 2007," said Strauss in a recent press release.
A new affiliation with the vision benefit provider, National Vision Administrators, could give further impetus to the company's 2009 rebound, as LCA centers now offer discounts to NVA members.
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