LCA-Vision Reports Decline in First Quarter Procedure Volume for 2013

By
CINCINNATI—LCA-Vision Inc. (NASDAQ: LCAV), a leading provider of laser vision correction services under the LasikPlus brand, reported that 16,272 procedures were performed during the first quarter of 2013, compared with 20,987 procedures performed during the first quarter of 2012.

"We faced a difficult comparison with the first quarter of 2012 where year-over-year procedure volume increased 11 percent, said LCA-Vision CEO Michael J. Celebrezze. “We also believe that the lowering of the maximum contribution for flexible spending accounts to $2,500 from $5,000, which took effect at the beginning of this year, as mandated under the federal Patient Protection & Affordable Care Act, had a negative impact.

"We started the first quarter with a significant deficit in patient bookings compared with the prior year, however, we gained some ground in bookings and procedures as the quarter progressed, which we attribute primarily to improvements in our direct-to-consumer advertising," he said.

LCA-Vision will release first quarter 2013 financial results prior to the market opening April 30, 2013 with a conference call and webcast to follow at 10:00 a.m. Eastern time.

To access the conference call, dial (866) 322-1352 (within the U.S. and Canada) or (706) 643-6246 (international callers). The webcast will be available at the investor relations section of LCA-Vision's website.

LCA-Vision Inc. owns and operates 54 LasikPlus vision centers in the U.S.