SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
July 6, 1999
LCA-Vision Inc.
(Exact name of Registrant as specified in its Charter)
Delaware 0-27610 11-2882328
(State or other (Commission (IRS Employer
jurisdiction File No.) Identification Number)
of incorporation)
7840 Montgomery Road, Cincinnati, Ohio 45236
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (513)792-9292
N/A
(Former name or former address, if changed since last report)
Item 5. Other Events
On July 6, 1999 the Registrant issued the attached press release
announcing that second quarter laser eye procedures were performed
at a record level and that the U.S. wholly owned same-center volume
increased by 87%.
Item 7. Financial Statements and Exhibits
(a) Exhibits
99.1 Press Release dated July 6, 1999
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
LCA-VISION INC.
Date: July 7, 1999 By:/s/Larry P. Rapp
-----------------------------
Larry P. Rapp,
Chief Financial Officer
<PAGE>
COMPANY CONTACTS INVESTOR RELATIONS CONTACTS
- ---------------- ---------------------------
LCA-Vision Inc. Lippert/Heilshorn & Associates, Inc.
Stephen N. Joffe, Chairman Bruce Voss ([email protected])
& CEO (310) 575-4848
Larry Rapp, VP-Finance Ruth Abeshaus ([email protected])
& CFO (212) 838-3777
(513) 792-9292
FOR IMMEDIATE RELEASE
LCA-VISION REPORTS RECORD PROCEDURES OF 9,742 FOR 2Q 1999
- -U.S. Wholly Owned Same-Center Volumes Increase 87% -
CINCINNATI, July 6, 1999 --- LCA-Vision Inc. (NASDAQ NM: LCAV), a
leading U.S. based provider of laser vision correction services,
today reported procedure volume for the three months ended June 30,
1999. The Company announced wholly owned same-center procedure
volume increased 78% to 8,365 procedures, compared with 4,692
procedures for the comparable 1998 period. The Company's U.S.
wholly owned same-center volume increased 87% to 8,012 procedures,
compared with 4,291 procedures for the comparable 1998 period.
The Company's total procedure volume for the second quarter of 1999
increased 76% to 9,742 compared with 5,538 procedures for the
comparable period in 1998.
"We are pleased to report that this our 11th consecutive quarter of
record procedure growth. We expect as more and more consumers
become aware of the laser vision correction arena and patient
confidence in procedure outcomes increases, this market will
continue to expand," commented Stephen N. Joffe, chairman and chief
executive officer of LCA-Vision. "The Company recently completed a
public offering that contributed over $37 million and we plan to use
these proceeds to fuel our regional growth. LCA-Vision continues to
build strong networks of leading doctors contributing to our solid
industry reputation and increased brand awareness."
LCA-Vision operates laser vision correction centers in the U.S.,
Canada and Europe, which are supported by a network of over 2,200
ophthalmologists and optometrists. Since inception, approximately
70,000 laser vision correction procedures have been performed at the
Company's centers.
Please see chart below for the quarterly and mid-year procedure
comparisons:
--more--
LCA-Vision Inc. Same-Center Growth
2Q1999 2Q1998* % Change 1Q1999 % Change
------ ------- -------- ------ --------
U.S. wholly owned
procedures 8,012 4,291 87% 7,326 9%
Total procedures 9,742 5,538 76% 9,064 8%
Six months ended Six months ended
6/30/99 6/30/98** % Change
------- --------- --------
U.S. wholly owned
procedures 15,338 7,639 101%
Total procedures 18,806 9,800 92%
*Please note: Q2 1998 figures exclude 188 procedures performed at
centers subsequently closed.
**Also note: Figures for the 2nd half of 1998 exclude 387
procedures (procedures from both Q1 & Q2) performed at centers
subsequently closed.
This release contains forward-looking statements that are subject to
risks and uncertainties including, but not limited to, the impact of
competition and pricing, procedure demand and marketplace
acceptance, and unforeseen fluctuations in operating results and
other risks detailed from time to time in the Company's filings with
the Securities and Exchange Commission.
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