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Wednesday, 4 February 2004
February 4, 2004 American Dental Partners (ADPI)
Hello Friends! Thanks for stopping by. I hope your week goes better than the Dow Jones! Do you remember that GREAT Musical Little Shop of Horrors....one of the great numbers in that show was "Be a Dentist"....Steve Martin sure played that to the hilt. Anyhow, how about another Dental stock for you stock fans? We have Sybron Dental Systems both on the Blog and in my trading portfolio....and here is one that is new to me...and I do not own any shares.

American Dental Partners is having a GREAT day...trading at $13.00/share up $1.20 or 10.17% as I write. According to money.cnn.com, ADPI "...is a provider of dental practice management services to multi-disciplinary dental group practices in selected markets in the U.S."

ADPI filed their latest quarterly earnings report On November 5, 2003. For the three months ended September 30, 2003, revenue was $41.7 million, a 11.2% increase over the net revenue of $37.5 million in the prior year. Found in another article on the New York Times on the Net, revealed that diluted net earnings per share for the quarter were $.20 compared to $.15 in the same quarter in 2002, a 33% increase.

Looking at the , we see a fairly nice picture of revenue growth, with a steady increase in revenue from $84.1 million in 1998 to $159.5 million in revenue in the trailing twelve months. Earnings/share have been unimpressive, reporting from $.78/share in 1999 to $.73/share in the trailing twelve months. The latest quarter is a bit more impressive. Free cash flow has also been improving nicely from $1 million in 2000, to $14 million in the trailing twelve months.

Looking at the Morningstar.com numbers as to the balance sheet, the company has only $800,000 in cash reported with $22.6 million in other current assets. This can cover the current liabilities of $21.3 million, and hopefully the continued free cash flow will help pay down the long-term liabilities of $53.5 million. The balance sheet appears to be adequate if not impressive with a bit more debt vis a vis the assets than I would like to see.

If we look at "key statistics" from Yahoo finance, we find that this is a SMALL, really microcap company with a market cap of $95.58 million. No p/e or PEG reported...there are only 7.35 Million shares outstanding with 4.40 million of them that float.

There are only 3,000 shares out short as of 1/8/04 representing 0.75 trading days so this does not appear to be an issue. No dividend is paid and no stock split is reported on Yahoo. Interestingly, the p/e on the quote page is at 17.88...so the statistics are not quite up to date.

This is an interesting, if tiny stock. It meets our criteria fairly well if not perfectly....I would rather wait for a better fit!....but you know I do have 25 positions in my trading account so I cannot buy any....so maybe it is just sour grapes? Anyway, be sure to do your own due diligence on this and all stocks on this website and use a financial advisor if that is called for!

Thanks for stopping by! Please leave any comments right here on the website or if you would like, feel free to email me at bobsadviceforstocks@lycos.com with any comments, questions, or words of encouragement!

Bob


Posted by bobsadviceforstocks at 10:23 AM CST | Post Comment | Permalink

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