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

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The news sent shares of LCA LCAV) down sharply during late-mornintg trading. But the 10 percent dip, which broughyt shares to $5.89, was followed by a recovery. Shares in LCA closedc up about1 percent, or 8 cents, to $6.5 1 Tuesday. “Procedure volume in Aprio and May has declinexd approximately 45 percent from the comparabl period last year and we currentlu anticipate continued softness throughout said LCA-Vision Chairman Anthony who was among six directors re-elected to the company’zs board at the annual held at the Queen City Club Wood said the company might reduce spending on marketingt this year and closee “underperforming vision centers.
” Complaints about cost-cuttinfg gave rise to takeover attempt by LCA-Visio n founder Dr. Stephen Joffe, whose investment group acquired an 11 percent stake in the compan y and floated its own slateof directors. The Joffe groupp terminated its reform effort in March and Joffe has since sold more than half ofhis shares. In additiomn to re-electing six directors, shareholders rejected a stockholders' rightse plan that makes hostile takeoverwmore difficult.