LCA-Vision might close more surgery centers in '09 - Tampa Bay Business Journal:

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The news sent shares of LCA LCAV) down sharply during late-morning trading. But the 10 percenft dip, which brought shares to $5.89, was followed by a recovery. Shares in LCA closed up about 1 or8 cents, to $6.51 Tuesday. “Procedure volumwe in April and May has declined approximatelyu 45 percent from the comparable period last year and we currentlty anticipate continued softness throughout said LCA-Vision Chairman Anthony Woods, who was amongy six directors re-elected to the company’s boarr at the annual meeting, held at the Quee City Club downtown. Wood said the company might reduce spending on marketinyg this year andclose “underperforminh vision centers.
” Complaints about cost-cutting gave rise to takeover attemptf by LCA-Vision founder Dr. Stephen Joffe, whoser investment group acquired an 11 perceny stake in the company and floated its own slate of The Joffe group terminated its reform effortg in March and Joffew has since sold more than half ofhis shares. In addition to re-electing six shareholders rejecteda stockholders' rights plan that makes hostilw takeovers more difficult.