This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

LCA-Vision Inc. Q2 2010 Earnings Call Transcript

Now, I would like to turn the call over to Mike Celebrezze. Mike?

Mike Celebrezze

Thank you Jody. Good morning everyone and thank you for joining us. I’d like to welcome Marcello Celentano to this quarter’s call. Marcello is responsible for overseeing our field operations and plays a key role in supporting our network wide operational improvement effort. We are reporting significant improvements in our operational metrics and a reduction in our operating loss for the second quarter despite the fact that business continues to be negatively impacted by low consumer confidence and cautious discretionary spending.

We attribute our financial and operational improvements to tangible results produced from actions taken under our priorities of cash conservation, patient acquisition and retention and organizational effectiveness. Additionally, as results of further cost reduction, improvements in our cash positions and a reduction in the number of vision centers, we believe we have lowered the number of procedures required to fund operation beyond 2012 to 61,000 procedures annually.

As has been our practice throughout this difficult period, we are evaluating all aspects of our operation with the objective of managing our business effectively. At the vision center level, we continue to implement profit improvement measures that cover the full range of results. Included in our overall evaluation is review of all LASIK Plus vision center leases. Unfortunately, we’re unable to strike an appropriate balance between operating cost and revenue generation at our Birmingham, Alabama location. The Birmingham vision center lease has come up for renewal and we have decided to close this vision center late in the third quarter.

We also plan to re-locate and upgrade our Rosedale, Maryland vision center later this year. We operate vision centers in two near by location that will service local patients during the expected brief downtime before the Rosedale center is re-opened. And we plan to re-locate our center in St. Louis in 2011’s first quarter with no expected operational interruption. We are also announcing the closure of our licensed facility in Savannah, Georgia. You may recall that rather than closing this vision center late last year, we entered a share arrangement with a surgeon to operate a part time private practice.

2 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs