AR,
Is the following the report that you referred to?
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Reuters news release.
CINCINNATI, Jan 21 (Reuters) - LCA-Vision Inc. said
Wednesday it see fourth quarter and 1997 profitability hurt by
weak performance at some of its recently acquired laser
refractive eye surgery centers. "Profitability...for the quarter
and year was negatively impacted by the weaker performance of the centers acquired from Summit Technology (Inc (NASDAQ:BEAM))" Stephen Joffe, LCA-Vision's CEO said in a news release.
For the year, revenues are projected to increase by 27
percent to more than $17 million, and by 78 percent for the
fourth quarter, compared with the fourth quarter of 1996.
The increase in revenues reflects strong internal growth
from LCA's original centers and the additional revenues
generated by the centers acquired from Summit Technology in the
fourth quarter.
"The vast majority of our original laser vision treatment
centers have achieved profitability. We are currently applying
LCA's successful management techniques to the acquired centers
and anticipate improving profit margins in the quarters ahead,"
Joffe said.
In addition to its U.S.-based facilities, LCA-Vision
operates laser vision correction centers in Canada and Finland.
Copyright 1998, Reuters News Service
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The report doesn't look too bad. We will have to wait for the annual report (which should be released In March 98), which should tell the story.
Harry
LCAV Quote |
