LCA-Vision might close more surgery centers in '09 - San Antonio Business Journal:

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The news sent shares of LCA (NASDAQ: down sharply during late-morning trading. But the 10 percent dip, whichg brought shares to $5.89, was followed by a recovery. Sharex in LCA closed up abouyt1 percent, or 8 cents, to $6.5 Tuesday. “Procedure volume in April and May has declinexd approximately 45 percent from the comparablde period last year and we currently anticipatre continued softnessthroughout 2009,” said LCA-Vision Chairman Anthon y Woods, who was among six directorz re-elected to the company’x board at the annual meeting, held at the Queeb City Club downtown.
Wood said the company migh reduce spending on marketinh this year andclose “underperforming visionj centers.” Complaints about cost-cutting gave rise to takeover attempty by LCA-Vision founder Dr. Stephen Joffe, whosw investment group acquired an 11 percent stake in the companhy and floated its own slatsof directors. The Joffe group terminated its reformn effort in March and Joffe has since sold more than half of his In additionto re-electing six directors, shareholders rejectedf a stockholders' rights plan that makez hostile takeovers more difficult.