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)
April 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)
<PAGE>
Item 5. Other Events
On April 6, 1999 the Registrant issued the attached press release
announcing that first quarter laser eye procedures were performed
at a record level and that the U.S. wholly owned same-center
volume increased by 119%.
Item 7. Financial Statements and Exhibits
(a) Exhibits
99.1 Press Release dated April 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: April 6, 1999 By:/s/Larry P. Rapp
Larry P. Rapp,
Chief Financial Officer
<PAGE>
COMPANY CONTACTS INVESTOR RELATIONS CONTACTS
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LCA-Vision Inc. Lippert/Heilshorn & Associates, Inc.
Stephen N. Joffe, M.D., Bruce Voss ([email protected])
Chairman & CEO (310) 575-4848
Larry Rapp, VP-Finance & CFO Ruth Abeshaus ([email protected])
(513) 792-9292 (212) 838-3777 www.lhai.com
www.lca-vision.com
FOR IMMEDIATE RELEASE
LCA-VISION FIRST QUARTER PROCEDURES AT RECORD LEVEL
U.S. wholly owned same-center volume increases 119%
CINCINNATI (April 6, 1999) - LCA-Vision Inc. (NASDAQ: LCAV), a
leading U.S. provider of laser vision correction services, today
reported same-center procedure volume for the first quarter of
1999. For the three months ended March 31, 1999, volume at the
Company's U.S. wholly owned centers increased 119% to 7,326
procedures, compared with 3,348 procedures for the comparable 1998
period excluding 178 procedures performed at centers subsequently
closed. On a sequential quarter basis, first quarter procedure
volume was up 36%, compared with 5,396 procedures performed during
the 1998 fourth quarter.
"This quarter's U.S. same-center procedure volume was the highest
in the Company's history, and we fully expect this healthy growth
trend to continue," commented Stephen Joffe, M.D., chairman and
chief executive officer of LCA-Vision. "The accelerating rate of
patient acceptance fueled by positive word of mouth, coupled with
media visibility within the U.S. market has helped to drive
overall industry growth. Indeed, several securities analysts have
recently raised their estimates for total U.S. laser vision
correction procedures to around 800,000 during 1999, and more than
1.1 million in 2000."
System-wide procedure volume, which includes, U.S. and Canada
wholly owned centers, increased 105% in the first quarter of this
year to 7,591 procedures, compared with first quarter 1998
procedure volume of 3,699 excluding 178 procedures performed at
centers subsequently closed. Wholly owned system-wide sequential
quarter procedure volume rose 34%. "During the 1999 first
quarter, we saw slowing growth in Canada, where we have been
performing procedures since 1991, due to general market maturity
and procedure pricing competition," added Dr. Joffe.
LCA-Vision operates laser vision correction centers in the U.S.,
Canada and Europe, which are supported by a network of 600
physicians and 800 referring optometrists. Since inception, more
than 50,000 laser vision correction procedures have been performed
at the Company's centers. For additional news and information
about LCA-Vision and laser vision correction, please visit the
Company's Web site at www.lca-vision.com.
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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