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LCA-Vision (LCAV)
A little drama can really shake up a small company, as LCA Vision learned the hard way. In February, founder Stephen N. Joffe -- a pioneer in the field of Lasik vision correction and founder of LCA -- bought a 7.7% stake of competitor TLC Vision Corp. (TLCV). Ultimately he left LCA and was replaced by none other than his own son, Craig, who is serving as interim CEO. The incident added to a continuing stock price decline, from $55 in February to just over $40 in mid-March. Now the stock has recovered, thanks to the junior Joffe's reassurances that the company's growth is solidly on track. LCA, which operates a chain of LasikPlus eye surgery clinics, is experiencing such strong demand for the procedure that its profits have grown an average of 109% a year for the past three years, as sales have jumped 47% a year.
Company Info |
|
| 2005 Rank | NR |
| Market Value* ($ Millions) | 1,162.0 |
| Sales* ($ Millions) | 215.6 |
| Sales Growth (3-yr. avg. annual) |
47.0 % |
| Profits* ($ Millions) | 35.4 |
| Profit Growth (3-yr. avg. annual) | 108.7 % |
| Return on Inv. Capital (3-yr.) | 19.8 % |
| Share Price 12-Mo. Hi/Lo | 58/33 |
| Share Price As of 4/28/06 | 56 |
| Return on Equity | 23.4 % |
| P/E Ratio | 34 |
| No. of Employees | 574 |
| Industry | Health Care Facilities |
| CURRENT MARKET INFO | LCAV > |
| COMPANY WEB SITE > | |
| Location | Cincinnati |
| Phone | 513 792-9292 |
*Trailing 12 months
Stock price data as of 4/28/06
DATA: Standard & Poor's Compustat
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Company Snapshot
LCA-Vision engages in the development and operation of fixed-site laser vision correction services at its LasikPlus vision centers. Its vision centers provide staff, facilities, equipment, and support services for performing laser vision correction that employ laser technologies to correct nearsightedness, farsightedness, and astigmatism. These vision centers are supported primarily by independent ophthalmologists and optometrists, as well as other health-care professionals. Ophthalmologists perform the laser vision correction surgery in vision centers, and either ophthalmologists or optometrists conduct preprocedure evaluations and post-operative follow-ups in-center. As of April, 2006, the company owned and operated 52 LasikPlus fixed-site laser vision correction centers in the U.S., and had a joint venture in Canada. LCA-Vision was founded in 1985 and is headquartered in Cincinnati.
Data provided by
