LCA-Vision 1Q profit climbs as procedures grow
LCA-Vision 1st-quarter profit almost doubles as LasikPlus procedures grew 11 percent
CINCINNATI (AP) -- Laser eye surgery provider LCA-Vision Inc. said Tuesday its profit nearly doubled in the first quarter as LasikPlus procedures continued to increase.
The company reported a profit of $3.8 million, or 20 cents per share. That's up from $2 million, or 11 cents per share, one year earlier. Revenue rose 12 percent, to $36.1 million from $32.3 million.
The two analysts who reported estimates to FactSet expected on average that LCA would post a profit of 18 cents per share and revenue of $35.7 million.
The company said LasikPlus procedures grew 11 percent to 20,987 during the quarter. Procedures fell every quarter for a four-year period that started in late 2007 and ended in mid-2011, but they have now improved for three consecutive quarters. In the third quarter of 2007, before the decline started, LCA performed 44,547 LasikPlus procedures.
LCA-Vision said its price per procedure grew slightly, and costs decreased.
LCA-Vision runs 52 LasikPlus centers in 26 states. It expects prices to rise slightly in 2012. A LasikPlus procedure cost $1,655 on average in 2011.
Shares of LCA-Vision rose 35 cents, or 5 percent, to $7.38 on Tuesday.
