Birner Dental Management Services (Birner Dental Management Services) Operating Income : $-3.27 Mil (TTM As of Sep. 2018)

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What is Birner Dental Management Services Operating Income?

Birner Dental Management Services's Operating Income for the three months ended in Sep. 2018 was $-0.64 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Sep. 2018 was $-3.27 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Birner Dental Management Services's Operating Income for the three months ended in Sep. 2018 was $-0.64 Mil. Birner Dental Management Services's Revenue for the three months ended in Sep. 2018 was $15.12 Mil. Therefore, Birner Dental Management Services's Operating Margin % for the quarter that ended in Sep. 2018 was -4.25%.

Birner Dental Management Services's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Birner Dental Management Services's annualized ROC % for the quarter that ended in Sep. 2018 was -15.66%. Birner Dental Management Services's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2018 was -56.76%.

Birner Dental Management Services Operating Income Historical Data

The historical data trend for Birner Dental Management Services's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Birner Dental Management Services Operating Income Chart

Birner Dental Management Services Annual Data

Trend

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Operating Income

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0.09

-1.21

-1.02

-1.89

-3.33

Birner Dental Management Services Quarterly Data
	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15	Jun15	Sep15	Dec15	Mar16	Jun16	Sep16	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18
Operating Income	Get a 7-Day Free Trial															-0.62	-1.28	-0.47	-0.87	-0.64

Birner Dental Management Services Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Sep. 2018 adds up the quarterly data reported by the company within the most recent 12 months, which was $-3.27 Mil.

Birner Dental Management Services (OTCPK:BDMS) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Birner Dental Management Services's annualized ROC % for the quarter that ended in Sep. 2018 is calculated as:

	ROC % (Q: Sep. 2018 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2018 )	+	Invested Capital (Q: Sep. 2018 ))	/ count )
=	-2.568 * ( 1 - 0.88% )	/	( (16.52	+	15.995)	/ 2 )
=	-2.5454016	/	16.2575
=	-15.66 %

where

	Invested Capital		(Q: Jun. 2018 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	15.771	-	6.717	-	( 0.35	-	max(0, 12.906	-	5.44	+	0.35	))
=	16.52

	Invested Capital		(Q: Sep. 2018 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	15.346	-	6.587	-	( 0.196	-	max(0, 12.84	-	5.604	+	0.196	))
=	15.995

Note: The Operating Income data used here is four times the quarterly (Sep. 2018) data.

2. Joel Greenblatt's definition of Return on Capital:

Birner Dental Management Services's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2018 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Sep. 2018 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2018		Q: Sep. 2018
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-2.568	/	( ( (4.713 + max(-1.644, 0))	+	(4.335 + max(-1.187, 0)) )	/	2 )
=	-2.568	/	( ( 4.713	+	4.335 )	/	2 )
=	-2.568	/	4.524
=	-56.76 %

where Working Capital is:

	Working Capital		(Q: Jun. 2018 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(4.205	+	0	+	0.867)	-	(6.717	+	0	+	-0.00099999999999945)
=	-1.644

	Working Capital		(Q: Sep. 2018 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(4.408	+	0	+	0.991)	-	(6.587	+	0	+	-0.00099999999999945)
=	-1.187

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Sep. 2018) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Birner Dental Management Services's Operating Margin % for the quarter that ended in Sep. 2018 is calculated as:

Operating Margin %	=	Operating Income (Q: Sep. 2018 )	/	Revenue (Q: Sep. 2018 )
	=	-0.642	/	15.121
	=	-4.25 %

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Birner Dental Management Services Operating Income Related Terms

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Birner Dental Management Services (Birner Dental Management Services) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Healthcare Providers & Services » Birner Dental Management Services Inc (OTCPK:BDMS) » Definitions » Operating Income

Comparable Companies

Traded in Other Exchanges

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Address

Website

http://www.perfectteeth.com

Birner Dental Management Services Inc is engaged in the medical care domain based in the United States. The company provides a solution to the needs of dentists, patients, and third-party payers by allowing its affiliated dentists to provide dental care in patient-friendly, family practice settings. The company offers specialty dental services through affiliated specialists at some of its locations. Dentists practicing at its offices provide general dentistry services, including crowns and bridges and fillings.

Executives

Bradley M Tirpak	director, 10 percent owner	50 ORCHARD ST., NEW YORK NY 10002
John M Climaco	director	PO BOX 326, PARK CITY UT 84060
Joshua Horowitz	director, 10 percent owner	72-38 113TH STREET, APARTMENT 3L, FOREST HILLS NY 11375
Palm Global Small Cap Master Fund Lp	director, 10 percent owner	C/O PALM MANAGEMENT (US) LLC, 19 WEST ELM STREET, GREENWICH CT 06830
Palm Management (us) Llc	director, 10 percent owner	19 WEST ELM STREET, GREENWICH CT 06830
Bradley C Palmer	10 percent owner	C/O PALM MANAGEMENT (US) LLC, 19 WEST ELM STREET, GREENWICH CT 06830
Charles M Gillman	10 percent owner, other: See Explanation of Responses	1223 WILSHIRE BOULEVARD, OFFICE 648, SANTA MONICA CA 90402
Star Equity Holdings, Inc.	10 percent owner, other: See Explanation of Responses	53 FOREST AVE, SUITE 101, OLD GREENWICH CT 06870
Barry Igdaloff	10 percent owner, other: See Explanation of Responses
Lee D Keddie	10 percent owner, other: See Explanation of Responses	1110 W. LAKE COOK ROAD SUITE 220 BUFFALO GROVE IL 60089