CINCINNATI—LCA-Vision (NASDAQ: LCAV) reported that at its annual stockholders meeting yesterday, stockholders elected all five nominees to its board of directors, each for a one-year term. The directors are William F. Bahl, co-founder and president of Bahl & Gaynor Investment Counsel; John H. Gutfreund, president of Gutfreund & Co.; John C. Hassan, consultant with BSC Ventures; Edgar F. Heizer III, chairman of Manus Health Systems; E. Anthony Woods, non-executive chairman of the board of LCA-Vision and chairman and chief executive officer of SupportSource, LLC.

LCA-Vision stockholders also voted in favor of the appointment of Ernst & Young LLP as the company's independent auditors for the fiscal year ending Dec. 31, 2010.

LCA-Vision provides laser vision correction services under the LasikPlus brand. Last month, the company reported that revenues for the first quarter ending March 31, 2010 plummeted to $34.0 million from $47.9 million in the year-ago period, a 41 percent drop. Adjusted revenues were $32.3 million compared with $44.9 million in first quarter 2009.

Commenting on current business conditions, Woods told stockholders that the company's board is acutely aware of the prolonged downturn in consumer discretionary spending and its significant impact on the laser vision correction marketplace. Sector-wide laser vision correction procedures were down approximately 45 percent in 2009 from 2007 levels, he noted.

"Our board and management are continually seeking and evaluating a wide range of strategic opportunities that could facilitate growth for LCA,” said Woods. He added, “Our diversification considerations include service and product options that not only complement our existing business, but would also heighten LCA's involvement in the eyecare sector. We believe that by expanding our horizons beyond our comfort level, we open the door to a multitude of revenue sources that are 'outside the box.' This strategy should help LCA manage more effectively in times of economic downturn and offer a stream of growth opportunities that will nourish LCA's future livelihood."