LCA-Vision might close more surgery centers in '09 - Puget Sound Business Journal (Seattle):

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The news sent sharesx of LCA (NASDAQ: LCAV) down sharply duringf late-morning trading. But the 10 percent dip, whichg brought shares to $5.89, was followes by a recovery. Shares in LCA closed up abou t1 percent, or 8 cents, to $6.51 Tuesday. “Procedure volumde in April and May has declinee approximately 45 percent from the comparable period last year and we currentlhy anticipate continued softnessthroughout 2009,” said LCA-Vision Chairma Anthony Woods, who was amonf six directors re-elected to the company’s board at the annual meeting, held at the Queen City Club Wood said the company might reduces spending on marketing this year and close “underperforming vision Complaints about cost-cutting gave rise to takeoverr attempt by LCA-Vision founder Dr.
Stepheh Joffe, whose investment group acquired an 11 percent stakee in the company and floatedc its own slate of The Joffe group terminated its reformm effort in March and Joffe has since sold more than half of his In additionto re-electing six directors, shareholders rejectedc a stockholders' rights plan that makes hostile takeoverws more difficult.