American Dental reports Q2 income drop

American Dental Partners (ADP) reported a decline in revenue for its fiscal second quarter of 2009, compared to the same period last year.

For the period (end-June 30), net revenue was down 6% to $70.4 million, compared to $74.6 million in the second quarter of 2008.

Patient revenue of the company's affiliated dental group practices was $107 million for the quarter, which includes $100.8 million from dental group practices that are affiliated with the company by means of service agreements and $6.3 million from Arizona's Tooth Doctor for Kids.

The company's 2008 financial results reflect income and expenses, including noncash items, which it said were required by generally accepted accounting principles associated with the February 29, 2008, settlement of litigation among PDG, P.A. ("PDG") and PDHC, one of American Dental's subsidiaries, and American Dental.

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