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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 Companys affiliated dental group practices, which is not consolidated with the Companys financial results, was $76,876,000 for the quarter as compared to $67,874,000 for the prior years same quarter, an increase of 13%. Same market revenue growth for the Companys affiliated dental group practices as measured by patient revenue was 10% for the quarter. For the year, patient revenue of the Companys 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 Companys 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.
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Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by American Dental Partners Inc.
American Dental Partners Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2006 10-K Annual Report includes:
Material Contracts, Statements, Certifications & more
American Dental Partners Inc provided additional information to their SEC Filing as exhibits
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