LCA-Vision expects $0.7M charge during Q3
LCA-Vision Inc. (Nasdaq:LCAV) is down in morning trading after the provider of laser vision correction services said early Tuesday that it swung to a second-quarter loss of $0.6 million, or $0.03 per share, versus a profit of $7.4 million, or $0.36 per share, a year ago. The results met analysts’ expectation for a loss of $0.03 per share.
Quarterly revenue slumped 22% to $54.2 million from $69.7 million a year earlier. The results topped Wall Street’s estimate of $53.5 million.
The Cincinnati-based company said it anticipates a charge of $0.7 million during the third quarter related to the job cuts. LCA-Vision said it will also cut its media expenditures by 40% to 45% compared with a year earlier and estimates spending of between $9 million and $10.5 million.
In Tuesday morning trading, LCAV is down 3.52%, or $0.21, to $5.76. For detailed price information and recent news stories about LCA-Vision, click LCAV.
About the Author
Reporter Will Atkinson is based in SmallCapInvestor.com's Washington, D.C. bureau.
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