DENVER, March 18 /PRNewswire-FirstCall/ -- Birner Dental Management Services, Inc. (Nasdaq: BDMS), operators of PERFECT TEETH(R) dental practices, announced results for the year ended December 31, 2007. Total dental group practice revenue increased $2.2 million, or 3.9%, to $59.4 million. Net revenue increased $1.4 million, or 3.6%, to $40.8 million. The Company's earnings before interest, taxes, depreciation, amortization and non-cash expense associated with stock-based compensation ("Adjusted EBITDA") increased $712,000, or 10.0%, to $7.8 million from $7.1 million for the year ended December 31, 2006.
Net income for the year ended December 31, 2007 increased $114,000, or 4.9% to $2.4 million. Earnings per share increased 14.7% to $1.08 for the year ended December 31, 2007 compared to $.94 for the year ended December 31, 2006.
For the quarter ended December 31, 2007, total dental group practice revenue increased $116,000, or .8%, to $13.8 million. Net revenue increased $96,000, or 1.0%, to $9.5 million. The Company's Adjusted EBITDA increased $30,000, or 1.8%, to $1.7 million for the quarter ended December 31, 2007 compared to $1.6 million for the quarter ended December 31, 2006.
Net income for the quarter ended December 31, 2007 increased $43,000, or 11.8% to $408,000. Earnings per share increased 22.3% to $.19 for the quarter ended December 31, 2007 compared to $.15 for the quarter ended December 31, 2006.
During 2007, the Company purchased 196,791 shares of its Common Stock
for approximately $4.1 million and paid out just over $1.2 million in
dividends to its shareholders while reducing debt outstanding by $1.7
million. In January 2008, the Company signed a lease for a de novo office
in Longmont, Colorado,
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