Thursday, May 02, 2002

LCA-Vision posts profit for 1st quarter


Eye surgery firm growing

The Cincinnati Enquirer

        Sycamore Township-based laser eye correction company LCA-Vision Inc. Wednesday reported a net profit of $1.15 million for the previous quarter, or 3 cents a share.

        The results were off from the same quarter last year, when the company reported net profit of $1.29 million, or 3 cents a share. But they were up from the fourth quarter of 2001, when the company lost $4.6 million, or 10 cents a share.

        LCA-Vision operates 31 LasikPlus laser correction centers nationwide, including one adjacent to Kenwood Towne Centre, and two more in Canada.

        Company officials credited a 72 percent rise in revenues from the fourth quarter of 2001 for the profitable results. LCA—Vision reported revenues of $18.8 million in the last quarter, compared with $22.5 million for the same quarter last year.

        The company's stock closed at $1.62 Wednesday, up 17 cents.

        In other reports:

        • Shire Pharmaceuticals Plc: The British company, which has its U.S. headquarters in Florence, Wednesday credited a strong debut by its new drug Adderall for a boost in first-quarter earnings.

        The company reported $56.8 million, or 11 cents a share, in net profit for the quarter, up almost 37 percent from $41.5 million, or 8 cents a share, in the same period last year. Adderall is prescribed for attention deficit/hyperactivity disorder.

        Shire also reported total revenues of $243.2 million for the first quarter, compared with $187.7 million for the same period last year.

        American depositary receipts, each of which represent three ordinary shares, soared $4.21 to $26.41 on the Nasdaq Stock Market.

        • Cincinnati Machine: The Oakley machine tool unit of Unova Inc., reported a wider operating loss and lower revenues in the first quarter.

        For the three months ended March 31, Cincinnati Machine's operating loss was $3 million on revenues of $31.7 million. A year ago, the business had an operating loss of $500,000 on revenues of $56.4 million.

        Unova reported a loss of $18.2 million, or 32 cents a share, on revenues of $292.4 million, compared with a loss of $10 million, or 18 cents a share, on revenues of $403 million a year ago.

       



Erpenbeck Co. faces additional lawsuits
Peoples Bank 'very strong,' new leader says
Cinergy on high; merger talks fly
State regulating mortgage brokers
- LCA-Vision posts profit for 1st quarter
Slower recovery suggested
Business Digest
Tristate Summary
Morning Memo
What's the Buzz?