This article is more than 5 years old. Information may no longer be current.
LaserVision reports Q4, fiscal year results
Click Here to Manage Email Alerts
ST. LOUIS — LaserVision Centers (NASDAQ: LVCI) increased its revenue for its fourth quarter, ended April 30, to $26.9 million, a 13% increase from fourth quarter 2000. The company's fiscal 2001 revenue increased 8.3% from fiscal 2000 to $96.1 million.
Company executives noted that fiscal 2000 revenues included royalties of $250 per case, which were reduced in February 2000 to $100. Without the decrease in royalties, company executives say revenue would have increased about 32%.
Net income for the quarter decreased to $697,000 from $4.3 million in the same quarter of 2000. Earnings per share fell to $0.03 from $0.17 per share for the same quarter a year ago. For the year, the company posted net income of $1.2 million, or $0.04 per share, compared with $13.9 million, or $0.55 per share, in fiscal 2000.
"The past year has been challenging for our company and our industry," said John Klobnak, LaserVision chairman and CEO. "We believe the price war is now over and that the management skills of our operating staff which allowed us to maintain profitability during this period of turmoil will now lead us during this new period of stability in our industry. We feel we have the correct strategy to maintain our position as the industry leader during the coming years."