Birner Dental Management Services, Inc. , operators of PERFECT TEETH(R) dental practices, announced results for the quarter and six months ended June 30, 2007. Total dental group practice revenue increased $535,000, or 3.7%, to $15.1 million. Net revenue increased $287,000, or 2.8%, to $10.4 million. The Company's earnings before interest, taxes, depreciation, amortization and non-cash expense associated with stock-based compensation ("Adjusted EBITDA") increased $178,000, or 10.0%, to $2.0 million from $1.8 million. Net income for the quarter ended June 30, 2007 decreased 1.8%, to $612,000 compared to $623,000 for the same period of 2006 primarily as a result of increased interest and income tax expense. Earnings per share increased 6.6%, to $.26 for the quarter ended June 30, 2007 compared to $.25 for the quarter ended June 30, 2006.
For the six months ended June 30, 2007, total dental group practice revenue increased $1.7 million, or 5.8%, to $30.8 million. Net revenue increased $986,000, or 4.9%, to $21.2 million. The Company's Adjusted EBITDA increased $537,000, or 14.7%, to $4.2 million from $3.6 million. Net income for the six months ended June 30, 2007 increased 5.2%, to $1.4 million compared to $1.3 million for the same period of 2006. Earnings per share increased 16.1%, to $.60 for the six months ended June 30, 2007 compared to $.52 for the six months ended June 30, 2006.
