Many of you are probably wondering about the impact of the new healthcare legislation on our business, some of which is yet to be determined. Under the current legislation framework, LASIK remains a reimbursable expense under flexible healthcare spending accounts. However, the major impact item from the new law is that the annual maximum limits for flexible spending account will be reduced from $5000 to $2500 in 2013. As such patients will not be able to cover the entire procedure cost with pretext FSA money, which may negatively affect our business. Additionally, like other employers we are likely to see an increase in our health insurance costs as well.Now I’d like to review our 2010 first quarter financial results. As in the past we are providing both GAAP and adjusted revenues and operating loss as a means of measuring performance. The adjusted results account for the non-cash impact of the accounting for separately priced extended warranties. A reconciliation of revenues and operating loss as reported in accordance with GAAP is provided at the end of the news release we issued this morning. For the first quarter of 2010, revenues were $34 million compared with $47.9 million for the 2009 first quarter and adjusted revenues were $32.3 million compared with $44.9 million for the 2009 first quarter.
LCA-Vision Inc. Q1 2010 Earnings Call Transcript
Check Out Our Best Services for Investors
Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.