LCA-Vision might close more surgery centers in '09 - South Florida Business Journal:

qypytcuvy.blogspot.com
The news sent shares of LCA (NASDAQ: LCAV) down sharplyg during late-morning trading. But the 10 percenyt dip, which brought shares to $5.89, was followed by a Shares in LCA closesd up about1 percent, or 8 cents, to $6.5q Tuesday. “Procedure volume in April and May has declinedf approximately 45 percent from the comparable period last year and we currentlty anticipate continued softnessthroughout 2009,” said LCA-Visionh Chairman Anthony Woods, who was among six directors re-elected to the company’s board at the annual held at the Queem City Club downtown. Wood said the company might reduce spending on marketing this year andclosde “underperforming vision centers.
” Complaints about cost-cutting gave rise to takeoverd attempt by LCA-Vision founder Dr. Stephen Joffe, whose investmentg group acquired an 11 percent stake in the company and floatef its own slate of The Joffe group terminated its reform efforgt in March and Joff e has since sold more than half of his In additionto re-electing six shareholders rejected a stockholders' rights plan that makezs hostile takeovers more difficult.