Exhibit 99.1

LCA-Vision Fourth Quarter Results Feature 27% Revenue Growth and Reduced Operating Loss

Same-Store Procedure Volume up 33%, Fifth Consecutive Quarter of Gains

First Full-Year Increase in Revenues and Total Procedure Volume Since 2007

CINCINNATI (February 14, 2012) – LCA-Vision Inc. (NASDAQ: LCAV), a leading provider of laser vision correction services under the LasikPlus^® brand, today announced financial and operating results for the three and 12 months ended December 31, 2011.

Fourth Quarter 2011 Financial and Operating Highlights (all comparisons are with the fourth quarter of 2010)

Full Year 2011 Financial and Operating Highlights (all comparisons are with full year 2010)

The company provides adjusted revenues and operating losses as a means of measuring performance that adjusts for the non-cash impact of accounting for separately priced extended warranties. A reconciliation of revenues and operating losses as reported in accordance with U.S. Generally Accepted Accounting Principles (GAAP) is provided at the end of this news release. Management believes that the adjusted information better reflects operating performance and, therefore, is more meaningful to investors.

“We are proud of our improved financial and operational performance, with gains in procedure volume that far out-paced market growth,” said LCA-Vision Chief Financial Officer Michael J. Celebrezze. “Fourth quarter procedures and revenues were second only to our seasonably strong first quarter. This contrasts sharply with the 2010 fourth quarter, which was our weakest in both categories for that year. Importantly, we accomplished this growth while controlling expenses, resulting in a substantial reduction in our operating loss.

“We are reporting our first increase in full-year revenues and procedure volume since 2007, which we achieved despite continued low consumer confidence levels. We also narrowed our 2011 operating loss by 70%, or an improvement of $15.4 million, compared with 2010. We attribute this progress to the collaborative implementation throughout our LCA-Vision/LasikPlus^® organization of various initiatives designed to improve our core business while conserving cash. Although we have more to accomplish, we have moved considerably closer to our goal of returning to profitability.”

LCA-Vision Chief Operating Officer David L. Thomas said, “We are delighted with our fifth consecutive quarter of growth in same-store procedure volume. Our 33% increase was significantly higher than the 18% we reported for the third quarter and the single-digit increases for the prior three quarters. Although we are optimistic with the direction in which our business is moving, we caution that we will not sustain this rate of growth in procedure volume in the near term. Our strong year-over-year gain in fourth quarter procedure volume was driven by a $500 discount promotion – the only discount promotion we offered during 2011 – which we instituted to maximize procedure volume before entering the seasonally strong first quarter. Even with the price discount, our price per procedure was $1,658, up $16 from the 2010 fourth quarter and down only $10 from the 2011 third quarter. We benefited from our marketing programs that drove patient acquisition, as well as strong showings among key operating metrics.”

Thomas added, “We are making progress with our business diversification program to support future growth and profitability while lessening our exposure to economic downturns. Cataract patients are now being treated in two markets under our new Visium Eye Institute™ brand, and we plan to rollout this service offering in an additional eight to 12 markets in 2012. We view cataract surgery as a highly promising opportunity that will allow us to capitalize on current clinical skills within our organization and our multi-site operations, and to participate in a market that is four times as large as the current laser vision correction market. We expect to incur start-up losses as we expand into this business in 2012. Our plan is to establish a presence in this market in advance of the anticipated influx of cataract patients in five years as baby boomers begin reaching age 70.

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Near-term Financial Outlook

LCA-Vision intends to continue to manage expenses conservatively in 2012; its plans and outlook for the year include:

The company affirms that the number of procedures companywide required for breakeven cash flow, after capital expenditures and debt service, remains approximately 70,000 per year. The average number of procedures required for each vision center to reach breakeven remains 95 per month.

Conference Call and Webcast

As previously announced, a conference call and webcast will be held today beginning at 10:00 a.m. Eastern time. To access the conference call, dial 866-322-1352 (U.S. and Canada) or 706-643-6246 (international callers). The webcast will also be available in the investor relations section of LCA-Vision’s website. A replay of the call and webcast will begin approximately two hours after the live call has ended. To access the replay, dial 855-859-2056 (U.S. and Canada) or 404-537-3406 (international callers) and enter the conference ID number: 36819341.

Forward-Looking Statements

This news release contains forward-looking statements based on current expectations, forecasts and assumptions of LCA-Vision that are subject to risks and uncertainties. The forward-looking statements in this release are based on information available to the company as of the date hereof. Actual results could differ materially from those stated or implied in the forward-looking statements due to risks and uncertainties associated with its business. In addition to the risk factors discussed in the company’s Form 10-K and other filings with the Securities and Exchange Commission, there are a number of other risks and uncertainties associated with its business including, without limitation, the successful execution of cost effective marketing strategies to drive patients to its vision centers; the impact of low consumer confidence and discretionary spending; competition in the laser vision correction industry; the company’s ability to attract patients; the possibility of adverse outcomes or long-term side effects of laser vision correction and negative publicity regarding laser vision correction; the company’s ability to operate profitable vision centers and retain qualified personnel during periods of lower procedure volumes; the continued availability of non-recourse third-party financing for its patients on terms similar to what it has paid historically; and the future value of revenues financed by the company and its ability to collect on such financings, which will in turn depend on a number of factors, including the consumer credit environment and the company’s ability to manage credit risk related to consumer debt, bankruptcies and other credit trends.

Further, the Food and Drug Administration’s (FDA) advisory board on ophthalmic devices currently is reviewing concerns about post-LASIK quality of life matters, and the FDA has undertaken a study on LASIK outcomes and quality of life that is expected to end in 2012. The FDA or another regulatory body could take legal or regulatory action against the company or others in the laser vision correction industry. The outcome of this review or legal or regulatory action could potentially impact negatively the acceptance of LASIK. In addition, the acceptance rate of new technologies and our ability to implement successfully new technologies on a national basis create additional risk.

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Except to the extent required under the federal securities laws and the rules and regulations promulgated by the Securities and Exchange Commission, the company assumes no obligation to update the information included in this news release, whether as a result of new information, future events or circumstances, or otherwise.

About LCA-Vision Inc./LasikPlus^®

LCA-Vision Inc., a leading provider of laser vision correction services under the LasikPlus^® brand, operates 53 LasikPlus^® fixed-site laser vision centers in 26 states and 41 markets in the United States. Additional company information is available at www.lca-vision.com and www.lasikplus.com.

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For Additional Information

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LCA-Vision Inc.

Consolidated Balance Sheets

(Dollars in thousands, except per share amounts)

(Unaudited)

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LCA-Vision Inc.

Consolidated Statement of Operations

(Dollars in thousands except per share data)

(Unaudited)

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LCA-Vision Inc.

Consolidated Statements of Cash Flows

(Dollars in thousands)

(Unaudited)

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LCA-Vision Inc.

Effect of the Change in Accounting for Deferred Revenues on Financial Results

(Dollars in thousands)

(Unaudited)

To supplement its Consolidated Financial Statements presented in accordance with accounting principles generally accepted in the United States, LCA-Vision discusses adjusted revenues and operating loss. Management utilizes this information as a means of measuring performance that adjusts for the non-cash impact of the accounting for separately priced extended warranties and believes that including this additional disclosure is meaningful to investors for the same reason.

Accordingly, this news release contains non-GAAP financial measures within the meaning of Regulation G promulgated by the Securities and Exchange Commission. A reconciliation of the difference between the non-GAAP measures with the most directly comparable financial measures calculated in accordance with GAAP follows:

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