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Last10K.com | 10-Q Quarterly Report Wed Nov 09 2011
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
THIRD QUARTER 2011 FINANCIAL RESULTS
WAKEFIELD, MASSACHUSETTS – November 7, 2011 – American Dental Partners, Inc. (NASDAQ: ADPI) announced financial results today for the quarter ended September 30, 2011. The Company also issued a separate press release today announcing that it has entered into a definitive agreement to be acquired by funds affiliated with JLL Partners.
Comparing results for the third quarter of 2011 with results for the third quarter of 2010:
| • | Net revenue was $70,241,000 for the third quarter of 2011 as compared to $71,116,000 for the third quarter of 2010. |
| • | Earnings from operations were $5,339,000 for the third quarter of 2011 as compared to $6,073,000 for the third quarter of 2010. |
| • | Net earnings were $2,679,000 for the third quarter of 2011 as compared to $2,715,000 for the third quarter of 2010. |
| • | Diluted net earnings per share were $0.17 for the third quarter of 2011 as compared to $0.17 for the third quarter of 2010. |
| • | Non-GAAP diluted adjusted net earnings per share were $0.27 for the third quarter of 2011 as compared to $0.27 for the third 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 nine months ending September 30, 2011 with results for the nine months ending September 30, 2010:
| • | Net revenue was $219,016,000 for the nine months ending September 30, 2011 as compared to $215,336,000 for the nine months ending September 30, 2010. |
| • | Earnings from operations were $19,333,000 for the nine months ending September 30, 2011 as compared to $20,646,000 for the nine months ending September 30, 2010. |
| • | Net earnings were $9,106,000 for the nine months ending September 30, 2011 as compared to $8,172,000 for the nine months ending September 30, 2010. |
| • | Diluted net earnings per share were $0.58 for the nine months ending September 30, 2011 as compared to $0.51 for the nine months ending September 30, 2010. |
| • | Non-GAAP diluted adjusted net earnings per share were $0.89 for the nine months ending September 30, 2011 as compared to $0.83 for the nine months ending September 30, 2010. Please see the attached Reconciliation of GAAP Net Earnings, as Reported, to Non-GAAP Diluted Adjusted Net Earnings. |
For the quarter ending September 30, 2011, patient revenue of the Company’s affiliated dental group practices and Arizona’s Tooth Doctor for Kids was $110,321,000 and same market patient revenue decreased 0.9% year-over-year. For the nine months ending September 30, 2011, patient revenue of the Company’s affiliated dental group practices and Arizona’s Tooth Doctor for Kids was $343,862,000 and same market patient revenue increased 0.7% year-over-year.
1
The following information was filed by American Dental Partners Inc (ADPI) on Monday, November 7, 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.
View differences made from one quarter to another to evaluate American Dental Partners Inc's financial trajectory
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by American Dental Partners Inc.
Assess how American Dental Partners Inc's management team is paid from their Annual Proxy
American Dental Partners Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2011 10-K Annual Report includes:
- Voting Procedures
- Board Members
- Executive Team
- Salaries, Bonuses, Perks
- Peers / Competitors
SEC Filing Tools
Ticker: ADPI
CIK: 1028087
Form Type: 10-Q Quarterly Report
Accession Number: 0001193125-11-304330
Submitted to the SEC: Wed Nov 09 2011 3:07:02 PM EST
Accepted by the SEC: Wed Nov 09 2011
Period: Friday, September 30, 2011
Industry: Health And Allied
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