Birner Dental Management Services, operators of Perfect Teeth dental practices, announced a 30.5% drop in its net income for the second quarter (end-June 30) to $419,000, compared to $602,000 in the same quarter a year ago.
Revenues were $15.7 million, up 4.2% from $15.1 million in the second quarter of 2009. The increase in revenue was primarily attributable to three offices that were acquired during the fourth quarter of 2009 and one new office the company started in Albuquerque, NM, in February 2010. These four new offices accounted for an additional $1.2 million in revenue, the company said.
Net income for the quarter decreased as a result of $202,000 in expenses associated with discontinued operations, $123,000 in TV and radio advertising programs implemented in February 2010, $86,000 in training costs related to improving productivity of dentists and hygienists, and $40,000 in marketing expenses.
Also negatively affecting net income was $296,000 due to discontinued operations related to the closure to two Phoenix offices.
Birner acquires, develops, and manages geographically dense dental practice networks in select markets in Colorado, New Mexico, and Arizona. The company currently manages 63 dental offices, of which it bought 38 and started 25, and has 120 dentists.
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