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Topics AP

LCA Vision reports smaller loss in 3Q

By AP | October 25, 2011

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CINCINNATI (AP) — Laser eye surgery provider LCA-Vision said Tuesday that its loss narrowed in the third quarter as the company reported more patients undergoing vision correction surgery.

The company reported a net loss of $3.8 million, or 20 cents per share, compared with a net loss of $8.4 million, or 45 cents per share, in the same period last year.

The number of procedures performed increased nearly 18 percent year-over-year to 12,444. Revenue increased 7.5 percent to $21.8 million.

"We are reporting significant improvements in financial and operating results, although we recognize that further improvement is needed," Chief Financial Officer Michael J. Celebrezze said in a company statement.

Company shares rose 59 cents, or 24 percent, to $3.04 in afternoon trading.

The company said it began offering cataract eye surgery in two new markets over the past six weeks.

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