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American Dental Partners Inc (ADPI) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2008

SEC Filings

American Dental Partners Inc

CIK: 1028087 Ticker: ADPI

Exhibit 99.1

American Dental Partners, Inc.

401 Edgewater Place, Suite 430

Wakefield, MA 01880

Phone: 781/224-0880                              Fax: 781/224-4216

 

 

 

 

For Immediate Release

 

Contacts:

  

Gregory A. Serrao

Chairman, President and

Chief Executive Officer

781-224-0880

  

Breht T. Feigh

Executive Vice President,

Chief Financial Officer and Treasurer

781-224-0880

AMERICAN DENTAL PARTNERS

REPORTS FOURTH QUARTER AND

YEAR-END 2008 FINANCIAL RESULTS

WAKEFIELD, MASSACHUSETTS, February 25, 2009—American Dental Partners, Inc. (NASDAQ:ADPI) today announced financial results for the quarter and year ended December 31, 2008.

The Company’s financial results reflect income and expenses, including non-cash items, required by generally accepted accounting principles as a result of the previously announced settlement of litigation among PDG, P.A. (“PDG”), PDHC, Ltd., one of the Company’s subsidiaries, and the Company effective February 29, 2008. In addition to its actual results, the Company has provided a pro forma financial presentation that excludes the operating results of 25 dental facilities transferred to PDG on February 29, 2008 and the accounting impact associated with the litigation settlement from both periods of comparison (see “PDG Litigation Settlement Accounting” and “Supplemental Operating Data” tables).

Comparing actual results and pro forma results for the fourth quarter of 2008 with the fourth quarter of 2007:

 

   

Net revenue was $65,110,000 as compared to $79,583,000. Pro forma net revenue was $65,110,000 as compared to $67,421,000.

 

   

Earnings from operations were $5,270,000 as compared to $(27,016,000). Pro forma earnings from operations were $5,429,000 as compared to $5,046,000.

 

   

Net earnings were $1,310,000 as compared to $(18,824,000). Pro forma net earnings were $1,407,000 as compared to $1,052,000.

 

   

Diluted net earnings per share were $0.10 as compared to $(1.47). Pro forma diluted net earnings per share were $0.11 as compared to $0.08.

 

   

Diluted cash net earnings per share were $0.21 as compared to $(1.36). Pro forma diluted cash net earnings per share were $0.21 as compared to $0.20.


The following information was filed by American Dental Partners Inc (ADPI) on Thursday, February 26, 2009 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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SEC Filing Tools
Ticker: ADPI
CIK: 1028087
Form Type: 10-K Annual Report
Accession Number: 0001193125-09-054544
Submitted to the SEC: Mon Mar 16 2009 8:23:25 AM EST
Accepted by the SEC: Mon Mar 16 2009
Period: Wednesday, December 31, 2008
Industry: Health And Allied

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