Birner Dental Management Services, Inc. (Nasdaq: BDMS), operators of PERFECT TEETH dental practices, announced results for the quarter and nine months ended September 30, 2009. For the quarter ended September 30, 2009, total dental group practice revenue decreased $285,000 or 1.9% to $14.7 million. Net revenue decreased $268,000, or 3.1%, to $8.5 million. The Company's earnings before interest, taxes, depreciation, amortization and non-cash expense associated with stock-based compensation ("Adjusted EBITDA") decreased $244,000, or 13.6%, to $1.5 million from $1.8 million. Net income for the quarter ended September 30, 2009 decreased $135,000, or 26.9%, to $366,000. Earnings per share decreased 21.9%, to $.19 for the quarter ended September 30, 2009 compared to $.24 for the quarter ended September 30, 2008.
For the nine months ended September 30, 2009, total dental group practice revenue increased $102,000, or 0.2%, to $45.2 million. Net revenue decreased $81,000, or 0.3%, to $26.4 million. The Company's Adjusted EBITDA increased $134,000, or 2.6%, to $5.4 million. Net income for the nine months ended September 30, 2009 increased $94,000, or 6.4%, to $1.6 million compared to $1.5 million for the same period of 2008. Earnings per share increased 20.2%, to $.82 for the nine months ended September 30, 2009 compared to $.69 for the nine months ended September 30, 2008.