LCA-Vision CEO Discusses Q3 2010 Results - Earnings Call Transcript
For the third quarter of 2010, revenues were $20.3 million, compared with $27.6 million for the 2009 third quarter, and adjusted revenues were $18.8 million, compared with $25.7 million a year ago. We performed 11,497 procedures at 62 Vision centers during the 2010 quarter, compared with 15,335 procedures at 71 Vision centers during the 2009 quarter.
Our same store procedure volume declined 18% versus the prior year. Lower procedure volume in the 2010 third quarter was attributable to a 31% decline in pre-operative appointment bookings, which reflects both reduced consumer confidence and a decrease in the number of Vision centers from 71 to 62.
Same store revenues decreased 19% for the third quarter while adjusted same store revenues decreased 18%. This compares with declines of 9% and 7% respectively for the second quarter which we believe reflected higher consumer confidence levels during that period. However, our Q3 declines are improved from the 23% and 22% declines respectively during the first quarter of this year.
We reported an operating loss of $8.5 million and adjusted operating loss of $9.8 million for the 2010 third quarter. Both these figures included $1.8 million in impairment and restructuring charges and $266,000 in gain on sale of assets. In the 2009 third quarter, we reported an an operating loss of $10.4 million and an adjusted operating loss of $11.1 million which included $4.4 million in impairment and restructuring charges and $10, 000 in gain on sale of assets.Read the rest of this transcript for free on seekingalpha.com
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
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
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
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.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
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.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV