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CINCINNATI (AP) -- LCA-Vision Inc., which offers laser-vision correction services under the LasikPlus brand, predicted earnings will decline significantly in the fourth quarter, citing an uncertain near-term business outlook. LCA-Vision shares plunged $8.09, or 28.8 percent, to $20.02 in morning trading, having hit a 52-week low of $19.40 earlier in the session. The stock previously ranged between $26.60 and $50.59 during the past 52 weeks. LCA-Vision said it expects fourth-quarter earnings per share "significantly below" fourth-quarter profit in 2006, which totaled 27 cents per share. Meanwhile, analysts surveyed by Thomson Financial forecast much higher fourth-quarter earnings of 52 cents per share. LCA-Vision also suspended its revenue guidance. Chief Executive Steve Straus said the percentage of pre-operative eye exams the company is able to convert into treated patients has declined, which is hurting LCA-Vision's ability to forecast conversion rates. Straus said the company is also concerned by weakening macroeconomic trends and consumer sentiment. LCA-Vision continues to plan to open 12 to 15 vision centers in 2007 and to invest about $16.5 million on marketing in the fourth quarter.
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