Sageworks Stats – Mary Ellen Biery
Dentists are finally feeling some pain from the recession.
Privately held dentist offices (NAICS code 6212) have seen sales so far this year decline about 3 percent after posting ongoing-though-shrinking gains in their top lines throughout the recent recession, Sageworks found in a financial statement analysis of the industry. Sales growth rates for dentists in 2008 and 2009 were 5 percent and 15 percent, respectively, but dipped to 1 percent growth last year before the current year’s decrease,according to the data as shown in the graph.
Profit growth, too, has waned, Sageworks found. Private dentist offices generated a 15 percent increase in net profits in 2009 but have seen profits shrink 3 percent so far this year, according to the analysis of financial statements from the private companies.
