1
- --------------------------------------------------------------------------------
FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
20549
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(b) OF THE SECURITIES
EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) APRIL 12, 2000
Commission File Number 1-10629
LASER VISION CENTERS, INC.
--------------------------
(Exact name of registrant as specified in its charter)
Delaware 43-1530063
-------- ----------
(State or other jurisdiction of incorporation (I.R.S. Employer Identification
or organization) number)
540 MARYVILLE CENTRE DRIVE, SUITE 200, ST. LOUIS, MISSOURI 63141
----------------------------------------------------------------
(Address of principal executive offices)
(314) 434-6900
--------------
(Registrant's telephone number, including area code)
- --------------------------------------------------------------------------------
2
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS AND
RISK FACTORS
Certain statements contained in the press release filed with this Form 8-K and
oral statements by directors or officers of the Company that are not based on
historical fact constitute "forward-looking statements" within the meaning of
the Securities Act of 1933 and Securities Exchange Act of 1934. The terms "Laser
Vision", "company", "we", "our" and "us" refer to Laser Vision Centers, Inc. The
words "expect", "believe", "goal", "plan", "intend", "estimate", "project" and
similar expressions and variations thereof are intended to specifically identify
forward-looking statements. Those statements appear in the press release, and
include statements regarding the intent, belief or current expectations of the
company, its directors or its officers with respect to, among other things, the
future success of its Market Development and Partnership strategies. You are
cautioned that any such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, and that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors.
The factors that might cause such differences include, among others, the
following: (i) the loss of or changes in key personnel, management or directors;
(ii) our inability to close on Market Development and Partnership Agreements in
the number and/or time frames projected; (iii) changes in state and/or federal
governmental regulations which could materially affect our ability to operate;
(iv) any adverse governmental or regulatory changes or actions, including any
healthcare regulations and related enforcement actions; (v) competition from new
and existing centers which use lasers to correct vision and/or manufacturers;
(vi) changes in commercial prices for our services due to new developments in
our markets; (vii) incorrect assumptions about the number of procedures which
doctors will perform on our lasers; (viii) new methods of vision correction
which could render our services less competitive or obsolete; (ix) litigation
claims that may arise; (x) unanticipated changes in vendor relationships; and
(xi) other factors including those identified in our filings from time-to-time
with the SEC.
During the next fiscal year, we anticipate that our laser revenue will grow at a
significantly lower rate than our laser procedures as a result of the recent
$150 decrease in the per procedure royalty fee. Our future revenues and
profitability may fluctuate significantly. Our selling, general and
administrative expenses are based on our expectations of future revenues and are
relatively fixed in the short term. Any shortfall in revenues or profitability
below expectations could have an immediate impact on our earnings per share
and/or the market price of our common stock. Due to the previous factors, we
believe our results of operations in any specific period may not be an accurate
indicator of our future performance.
The Company undertakes no obligation to publicly update or revise
forward-looking statements to reflect events or circumstances after the date of
the press release and this Form 8-K or to reflect the occurrence of
unanticipated events.
3
FORM 8-K
ITEM 5. OTHER EVENTS
On April 12, 2000, the Company issued a press release pertaining to the
Company's expected future performance and stock re-purchase program. A copy of
that press release is attached hereto as an exhibit.
ITEM 7(C): LIST OF EXHIBITS FILED
99.1 Press Release dated April 12, 2000.
4
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
LASER VISION CENTERS, INC.
By: /s/ John J. Klobnak
-------------------------------
John J. Klobnak
Chief Executive Officer
Date: April 12, 2000
- --------------------------------------------------------------------------------