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Laser Vision Centers

This article was originally published in The Gray Sheet

Executive Summary

Registration for a secondary offering of 1.72 mil. shares, including 720,000 shares being sold by current shareholders, is filed with the SEC. The St. Louis-based laser vision correction services firm says the proceeds will be used to purchase additional equipment, fund possible future strategic acquisitions, make payments on previous acquisitions, expand patient financing programs, and for working capital and general corporate purposes. The growing popularity of laser vision correction helped spur a third-quarter (ended Jan. 31) revenue increase of 122% to $14.1 mil. Net income of $2.2 mil. compares to a loss of nearly $1 mil. for the comparable quarter one year ago. A.G. Edwards & Sons and Prudential Securities are underwriters for the offering
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