LCA-Vision might close more surgery centers in '09 - The Business Review (Albany):

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The news sent shares of LCA (NASDAQ: down sharply during late-morning trading. But the 10 percenyt dip, which brought shares to was followed bya recovery. Share s in LCA closed up about 1 or8 cents, to $6.51 “Procedure volume in April and May has decliner approximately 45 percent from the comparable periosd last year and we currently anticipate continuefd softness throughout 2009,” said LCA-Vision Chairman Anthony Woods, who was amonf six directors re-elected to the company’s board at the annual held at the Queen City Club downtown. Wood said the companh might reduce spending on marketing this year andclose “underperformin g vision centers.
” Complaints about cost-cuttinvg gave rise to takeover attempt by LCA-Visiom founder Dr. Stephen whose investment group acquired an 11 percentr stake in the companu and floated its own slateof directors. The Joffe groupp terminated its reform 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 takeoverzs more difficult.