LCA-Vision might close more surgery centers in '09 - Minneapolis / St. Paul Business Journal:

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The news sent shares of LCA (NASDAQ: down sharply during late-morning trading. But the 10 percenft dip, which brought shares to $5.89, was followed by a Shares in LCA closed up about 1 or8 cents, to $6.51 Tuesday. “Procedure volumer in April and May has declinef approximately 45 percent from the comparable period last year and we currentlhy anticipate continued softnessthroughout 2009,” said LCA-Visionb Chairman Anthony Woods, who was among six directora re-elected to the company’s boardx at the annual meeting, held at the Queen City Club Wood said the companyg might reduce spending on marketinf this year and close “underperforming vision Complaints about cost-cutting gave rise to takeovee attempt by LCA-Vision founder Dr.
Stephen Joffe, whose investmeny group acquired an 11 percent stake in the company and floated its own slateof directors. The Joffd group terminated its reform effort in March and Joffer has since sold more than half of his In additionto re-electingb six directors, shareholders rejecte d a stockholders' rights plan that makee hostile takeovers more difficult.