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TLCVision reports decreased revenue in second quarter

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ST. LOUIS — TLCVision has reported a decrease in revenue from the second quarter of 2008, a press release from the company said.

Second-quarter revenue was $58.5 million, a drop of 21% from last year's revenue of $74.1 million. Refractive revenues fell by 31%, the release said.

Non-refractive surgical procedures and eye care products equaled 44% of the company's total revenue in the second quarter, according to the release.

"TLCVision posted strong operating results during the second quarter of 2009, despite the current economic environment," James B. Tiffany, president and chief operating officer of TLCVision, said in the release. "Our refractive centers procedure volume, down 28% from the prior year's quarter, outperformed industry estimates. Additionally, we were able to increase our market share in the second quarter to 15% vs. 14% in the prior year period."

According to the release, reductions from ongoing initiatives have created approximately $11.4 million more in cost savings than last year.