August 5, 2008 / 11:31 AM / 9 years ago

UPDATE 1-TLC Vision reports Q2 loss as Lasik demand slips

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TORONTO, Aug 5 (Reuters) - TLC Vision Corp TLC.TO said on Tuesday that it swung to a second-quarter loss, hurt by a decline in vision-correction procedures.

The laser eye-treatment company known for the Lasik surgery, reported a loss of $2.2 million, or 4 cents a share, in the period ended June 30, compared to a profit of $876,000, or 1 cent a share, a year earlier.

Revenue was $74.1 million, down 7.5 percent from $80.1 million in 2007.

Analysts expected an average profit of 2 cents a share on revenue of $79.5 million.

The company said earnings were hurt by a 22.8 percent slump in demand for the corrective eye procedure during the quarter, compared with its rival firms, which together experienced a drop in demand of between 25 percent and 30 percent.

"Our results this quarter in our Lasik businesses were significantly impacted by the weak economy, as evidenced by a consumer confidence index that has declined to a level not seen since the early 1990s," Jim Wachtman, president and chief executive, said in a statement. ($1=$1.04 Canadian) (Reporting by Scott Anderson; Editing by Bernadette Baum)

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