DENVER, March 26 /PRNewswire-FirstCall/ -- Birner Dental Management Services, Inc. (Nasdaq: BDMS), operators of PERFECT TEETH dental practices, announced results for the year ended December 31, 2008. Total dental group practice revenue decreased $371,000, or .6%, to $59.0 million. Net revenue decreased $760,000, or 2.2%, to $34.5 million.
The Company's earnings before interest, taxes, depreciation, amortization and non-cash expense associated with stock-based compensation ("Adjusted EBITDA") decreased $1.1 million, or 13.7%, to $6.8 million from $7.8 million for the year ended December 31, 2007.
Net income for the year ended December 31, 2008 decreased $645,000, or 26.5% to $1.8 million. Earnings per share decreased 20.4% to $.86 for the year ended December 31, 2008 compared to $1.08 for the year ended December 31, 2007.
For the quarter ended December 31, 2008, total dental group practice revenue increased $41,000 or .3%, to $13.9 million. Net revenue decreased $150,000, or 1.8%, to $8.0 million. The Company's Adjusted EBITDA decreased $152,000, or 9.1%, to $1.5 million for the quarter ended December 31, 2008 compared to $1.7 million for the quarter ended December 31, 2007.
Net income for the quarter ended December 31, 2008 decreased $85,000, or 20.9% to $323,000. Earnings per share decreased 9.5% to $.17 for the quarter ended December 31, 2008 compared to $.19 for the quarter ended December 31, 2007.
The decrease in net revenue of $760,000 for the year ended December 31, 2008 consisted of a decrease in net revenue from general dentistry of $1.3 million partly offset by an increase in net revenue from specialty dentistry of $536,000. The decrease in net revenue of $150,000 for the quarter ended December 31, 2008 consisted of a decrease in net reven
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