Ohio-Based Lasik Surgery Company Struggles

CINCINNATI -- The number of laser eye surgery procedures conducted by publicly traded LCA-Vision Inc. dropped 38 percent in the second quarter from a year ago, a reflection of industrywide troubles.

In a faltering economy, consumers are more likely to choose glasses or contacts instead of shelling out thousands of dollars for the usually popular Lasik eye surgery.

"When times are good, some people won't hesitate to spend $2,000 or $4,000 for an elective corrective treatment," said University of Missouri-St. Louis professor Stephen Moehrle. "In tough times, putting on a pair of glasses becomes a little more tolerable."

Cincinnati-based LCA-Vision has recently had layoffs, a salary freeze and large cuts to its advertising and marketing budgets. The 38 percent drop in procedures in the second quarter compared to the same time last year led to a 30 percent decline in quarterly revenue.

source: Newsnet5