TORONTO Aug 5 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.
(Reporting by Scott Anderson; Editing by Bernadette Baum)