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American Dental Partners Inc (ADPI) SEC Filing 10-Q Quarterly report for the period ending Thursday, June 30, 2011

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    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

SECOND QUARTER FINANCIAL RESULTS

WAKEFIELD, MASSACHUSETTS – July 25, 2011 – American Dental Partners, Inc. (NASDAQ: ADPI) announced financial results today for the quarter ended June 30, 2011.

Comparing results for the second quarter of 2011 with results for the second quarter of 2010:

 

   

Net revenue was $73,953,000 for the second quarter of 2011 as compared to $72,366,000 for the second quarter of 2010.

 

   

Earnings from operations were $5,987,000 for the second quarter of 2011 as compared to $7,959,000 for the second quarter of 2010.

 

   

Net earnings were $2,629,000 for the second quarter of 2011 as compared to $3,112,000 for the second quarter of 2010.

 

   

Diluted net earnings per share were $0.17 for the second quarter of 2011 as compared to $0.19 for the second quarter of 2010.

 

   

Non-GAAP diluted adjusted net earnings per share were $0.28 for the second quarter of 2011 as compared to $0.32 for the second quarter of 2010. Please see the attached Reconciliation of GAAP Net Earnings, as Reported, to Non-GAAP Diluted Adjusted Net Earnings.

Comparing results for the six months ending June 30, 2011 with results for the six months ending June, 30, 2010:

 

   

Net revenue was $148,775,000 for the six months ending June 30, 2011 as compared to $144,220,000 for the six months ending June 30, 2010.

 

   

Earnings from operations were $13,994,000 for the six months ending June 30, 2011 as compared to $14,573,000 for the six months ending June 30, 2010.

 

   

Net earnings were $6,427,000 for the six months ending June 30, 2011 as compared to $5,457,000 for the six months ending June 30, 2010.

 

   

Diluted net earnings per share were $0.41 for the six months ending June 30, 2011 as compared to $0.34 for the six months ending June 30, 2010.

 

   

Non-GAAP diluted adjusted net earnings per share were $0.61 for the six months ending June 30, 2011 as compared to $0.56 for the six months ending June 30, 2010. Please see the attached Reconciliation of GAAP Net Earnings, as Reported, to Non-GAAP Diluted Adjusted Net Earnings.

For the quarter, patient revenue of the Company’s affiliated dental group practices and Arizona’s Tooth Doctor for Kids was $115,953,000 and same market patient revenue increased 1.0% year-over-year. For the six months ending June 30, 2011, patient revenue of the Company’s affiliated dental group practices and Arizona’s Tooth Doctor for Kids was $233,541,000 and same market patient revenue increased 1.4% year-over-year.


The following information was filed by American Dental Partners Inc (ADPI) on Monday, July 25, 2011 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-Q Quarterly 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-Q Quarterly Report
Accession Number: 0001193125-11-216538
Submitted to the SEC: Tue Aug 09 2011 4:22:55 PM EST
Accepted by the SEC: Tue Aug 09 2011
Period: Thursday, June 30, 2011
Industry: Health And Allied

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