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TLC reports 2001 financial results

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BETHESDA, Md. — TLC Laser Eye Centers Inc. (NASDAQ: TLCV) released its fourth quarter and annual results for the period ending May 31, 2001. As previously reported, more than 28,900 paid laser procedures were performed at TLC refractive centers in the fourth quarter of 2001, representing a 19% decline from the same period a year ago.

For the 2001 fiscal year, net revenues totaled $174 million. Including the effects of non-cash charges relating to the amortization of goodwill and intangibles from acquisitions, along with restructuring and other one-time charges, the net earnings-per-share (EPS) loss for fiscal year 2001 was $1, compared to a net EPS loss of $0.16 in fiscal 2000.

TLC executives assert that the media reports surrounding deep-discount laser surgery providers and those providers' subsequent demises, as well as current general economic conditions, have all had a negative impact on the company's financial results.