Sales for the quarter dropped to $51.63 million. In third quarter 2008, the company reported a loss of $6.71 million on sales of $57.53 million.
The company said its volume was down 17 percent in the quarter and that it reduced its fixed cost structure by 23 percent and its general and administrative costs by 35 percent, in order to deal with the dropping revenues. The company also sold its interest in several centers in order to cut costs, according to the report.
The Canadian company, whose U.S. headquarters are located in the St. Louis metro area, has dropped below Nasdaq’s minimum market value requirement of $15 million and has until Dec. 15 to meet the requirement or be delisted, according to the report.
Read the St. Louis Business Journal’s report on TLC Vision Corp.
