Birner Dental Management Services reported a decrease in revenues and earnings for the fourth quarter of 2016 and for the year.
For the quarter (end-December 31), the company reported revenues of $14.3 million, down 5% from the same quarter in 2015. Birner's net loss for the quarter grew to $539,000, compared with a net loss of $375,000 in the fourth quarter of 2015.
For the year, the company reported revenues of $61.8 million, down 3.3% from 2015. The company's earnings decreased $1.2 million, down 33.1% compared with 2015. Net loss also increased to $1.4 million, compared with $705,000 in 2015.
The company's CEO, chief financial officer, and outside directors all took 20% reductions in base salary and director fees as of February 1, 2017. Birner noted that new patient visits have increased in 2017 compared to the same period of 2016.
The company currently manages 69 dental offices in Colorado, New Mexico, and Arizona under the Perfect Teeth name.
