| Business Summary | | National
Vision,
Inc.,
formerly
Vista
Eyecare,
Inc.,
is
a
retail
optical
company
with
725
vision
centers
in
the
United
States
and
Mexico.
The
Company
operates
499
of
its
vision
centers
in
host
departments,
such
as
Wal-Mart
and
Fred
Meyer
locations,
and
226
of
its
freestanding
vision
centers
in
malls
and
strip
centers.
Its
locations
sell
a
wide
range
of
optical
products,
including
eyeglasses,
contact
lenses
and
sunglasses.
At
approximately
690
of
its
locations,
the
Company
offers
the
services
of
optometrists.
The
Company
also
operates
three
manufacturing
and
distribution
centers.
On
April
5,
2000,
the
Company
and
10
of
its
subsidiaries
filed
voluntary
petitions
for
reorganization
under
Chapter
11.
In
March
2001,
a
plan
of
reorganization
was
filed.
On
May
18,
2001,
the
United
States
Bankruptcy
Court
for
the
Northern
District
of
Georgia
entered
an
order
approving
the
Company's
plan
of
reorganization.
The
order
became
final
on
May
29,
2001
and
the
plan
became
effective
on
May
31,
2001. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | NVI
is
engaged
in
the
retail
sale
of
optical
goods
and
services.
The
Company
operates
725
vision
centers
in
the
United
States
and
Mexico.
For
the
26
weeks
ended
6/01,
net
sales
fell
14%
to
$139.2
million.
Net
income
before
acctg.
change
and
extraordinary
item
totalled
$95.4
million
vs.
a
loss
of
$14.2
million.
Revenues
reflect
the
closure
of
the
Company's
freestanding
stores
and
all
Sam's
Club
operations.
Net
income
reflects
a
$92.6
million
gain
related
to
Chapter
11
reorganization. | More
from
Market Guide: Significant
Developments |
| | | | FY1999 Pay | |
| James Krause, 55 Chairman
and CEO | $395K | Angus Morrison, 43 Sr.
VP, CFO and Treasurer | 170K | Mitchell Goodman, 46 Sr.
VP, Gen. Counsel and Sec. | -- | Robert Stein, 44 Sr.
VP of HR and Professional Services | -- | Richard Anderson, 41 Sr.
VP- Real Estate | -- | Dollar amounts are as of 1-Jan-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|