If I owned stock in Birner's Perfect Teeth I'd unload it ASAP. Especially if I were an employee and has purchased stock, you might be holding a big bag of nothing!
This is an excerpt from today's report to their shareholders:
For the quarter and six months ended June 30, 2012, revenue was negatively impacted by a decrease in the number of patient visits in the offices relative to the quarter and six months ended June 30, 2011. Additionally, for the quarter and six months ended June 30, 2012, patients accepted less expensive treatment relative to the prior periods. The Company believes this is due to a general weakness in the economy in its markets.
From an employee's perspective:
The offices were negatively impacted by poor dentist/management relations due to poor management decisions. This is especially true in light of their "Dental $34 Special", which has flooded the clinics with low pay patients that don't have the money for extensive treatment due to years of neglect from not seeing a dentist. The special was only to last for a few months last fall but has continued to this day as a promotional tool that only fills the schedule with low pay or non-pay patients...go figure..
Oh and their debt rose by $1 million.
