CINCINNATI—Stung by the downturn in refractive surgery procedures, LCA-Vision saw its revenues plunge by nearly 30 percent last year, to $205.2 million; in 2007 the company’s revenues were $292.6 million.

LCA-Vision’s laser-surgery procedure volume was 115,150 in 2008, down from 192,200 the prior year.

The company posted a net loss of $6.6 million in 2008, vs. $32.5 million in net income in 2007.

In last year’s fourth quarter, LCA-Vision’s revenues dropped to $34 million, down from $69.7 million in the same period the previous year. Procedure volume in 2008’s Q4 was 19,400, vs. 39,900 in 2007’s fourth quarter; same-store revenues fell by 54.2 percent in the period.

The company had a net loss of $8.2 million in Q4, vs. net income of $4.1 million in 2007’s fourth quarter.

LCA-Vision executives announced this week they plan to shut down laser surgery centers in Little Rock, Ark., and Tulsa, Okla.; the closure of a center in Boise, Idaho, was announced previously.

A company announcement said no new laser centers are scheduled to open during 2009. LCA-Vision currently operates 75 surgery centers in 32 states.

Looking ahead, LCA-Vision’s chief executive officer, Steven Straus, said the company has executed agreements with a number of major managed health care and vision plans, most recently National Vision Adminstrators. “We have exclusive or preferred agreements with seven of the top eight vision plans in the U.S.,” he said.

The company also tested a new marketing approach in 13 markets over a three-week period late in 2008, resulting in a 34 percent increase in eye procedures performed compared to the prior four weeks. “We expect to roll out the new campaigns nationally in March,” Straus noted.