For the quarter (end-September 30), the company reported revenue of $15.5 million, up 2.6% from the third quarter in 2016. The company reported a net loss for the quarter of $558,000, compared with a net loss of $517,000 in the same quarter last year.
This is the sixth consecutive quarter that Birner has reported lower revenue. The company attributed the loss to fewer dentists practicing in the network but noted that the dentist count has increased to 106 by the end of the quarter.
Birner mentioned that it had received notice in regulatory filings for the second quarter of 2017 that a lender had found it to be in default on almost $9 million in debt and that the debt was immediately due. The company updated the situation by reporting that its lender was not exercising the right to collect immediately and that it was in negotiation with a prospective investor.
The company currently manages 68 dental offices in Colorado, New Mexico, and Arizona under the Perfect Teeth name.
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