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American Dental Partners Inc (ADPI) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2005

SEC Filings

American Dental Partners Inc

CIK: 1028087 Ticker: ADPI

Exhibit 99.1

American Dental Partners, Inc.

201 Edgewater Drive, Suite 285

Wakefield, MA 01880

Phone: 781/224-0880

   Fax: 781/224-4216

For Immediate Release

 

Contacts:   

Gregory A. Serrao

  

Breht T. Feigh

  

Chairman, President and

  

Executive Vice President,

  

Chief Executive Officer

  

Chief Financial Officer and Treasurer

  

781-224-0880

  

781-224-0880

AMERICAN DENTAL PARTNERS REPORTS

FOURTH QUARTER AND YEAR-END 2005 FINANCIAL RESULTS

WAKEFIELD, MASSACHUSETTS, February 22, 2006 - American Dental Partners, Inc. (NASDAQ:ADPI) announced financial results today for the quarter and the year ended December 31, 2005.

Comparing the fourth quarter of 2005 with the fourth quarter of 2004:

 

    Net revenue was $49,783,000 as compared to $44,806,000, an increase of 11%.

 

    Earnings from operations were $4,722,000 as compared to $3,929,000, an increase of 20%.

 

    Net earnings were $2,640,000 as compared to $2,143,000, an increase of 23%.

 

    Diluted net earnings per share were $0.21, as compared to $0.17, an increase of 24%.

 

    Diluted cash net earnings per share were $0.27 as compared to $0.23, an increase of 17%.

Comparing the twelve months of 2005 with the same period in 2004:

 

    Net revenue was $196,928,000 as compared to $178,554,000, an increase of 10%.

 

    Earnings from operations were $18,689,000 as compared to $15,702,000, an increase of 19%.

 

    Net earnings were $10,291,000 as compared to $8,519,000, an increase of 21%.

 

    Diluted net earnings per share were $0.81 as compared to $0.70, an increase of 16%.

 

    Diluted cash net earnings per share were $1.05 as compared to $0.92, an increase of 14%.

Patient revenue of the Company’s affiliated dental group practices, which is not consolidated with the Company’s financial results, was $76,876,000 for the quarter as compared to $67,874,000 for the prior year’s same quarter, an increase of 13%. Same market revenue growth for the Company’s affiliated dental group practices as measured by patient revenue was 10% for the quarter. For the year, patient revenue of the Company’s affiliated dental group practices was $302,982,000 as compared to $272,369,000 for the prior year, an increase of 11%. Same market revenue growth for the Company’s affiliated dental group practices as measured by patient revenue was 8% for the year.

The Company reported cash flow from operations of $7,235,000 for the quarter and $25,452,000 for the year. Capital expenditures were $3,285,000 for the quarter and $11,068,000 for the year. The Company relocated one dental facility and expanded three dental facilities during the quarter. During the year the Company relocated six dental facilities and expanded eleven dental facilities.


The following information was filed by American Dental Partners Inc (ADPI) on Thursday, February 23, 2006 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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American Dental Partners Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2006 10-K Annual Report includes:

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SEC Filing Tools
Ticker: ADPI
CIK: 1028087
Form Type: 10-K Annual Report
Accession Number: 0001193125-06-050930
Submitted to the SEC: Fri Mar 10 2006 3:05:21 PM EST
Accepted by the SEC: Fri Mar 10 2006
Period: Saturday, December 31, 2005
Industry: Health And Allied

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