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For a detailed discussion of the factors that could cause such a difference and other risk factors and uncertainties that could materially affect the company's business and financial results, please refer to our annual report on Form 10-K and the quarterly reports on Form 10-Q filed with the Securities and Exchange Commission.In our call today, we will discuss certain financial measures that are not in accordance with generally accepted accounting principles. Please see our press release, which is available on our website www.amdpi.com, for a presentation of the most comparable GAAP measures and a reconciliation of these non-GAAP measures. Breht and I will discuss financial and operational highlights and then take questions from participants after our prepared remarks. Before turning the call over to Breht for the financial review, I would like to mention a few highlights as it was very (inaudible) quarter. We refinanced our senior indebtedness on very favorable terms relative to our prior credit facility, as Breht will describe in greater detail later in his prepared remarks. We affiliated with Cincinnati Dental Services on June 1st, which expanded our presence in Cincinnati and Northern Kentucky. The continued high level of unemployment continues to present revenue challenges to our affiliated dental groups. But despite a decline in same market revenue growth, we managed to grow earnings during the quarter. Excluding the one-time expenses associated with refinancing our indebtedness and the affiliation with Cincinnati Dental Services, earnings from operations increased 9.5% and net earnings increased 19.7% over the second quarter of 2009. And finally, we continued to expand Texas Tooth Doctor for Kids, completing two additional de novos during the quarter. I will now turn the call over to Breht to discuss our financial results for the quarter. Breht Feigh Thanks, Greg. This morning we will be reviewing our second quarter results. I'd like to begin, as I always do, by referring to the table in the press release entitled Patient Revenue and Same Market Patient Revenue Growth. Patient Revenue with affiliated practices increased 4.5% from $111.9 million in the second quarter from $107.0 million in the same period last year, driven largely by the Christie Dental and Cincinnati Dental platform affiliations.
Same market patient revenue growth by contrast decreased 2.1% year-over-year. In calculating same market patient revenue growth, we exclude the contribution of new platform affiliations completed in either period of comparison. As a result, we are comparing like-for-like platform affiliates.The components of same market growth for the quarter were 2.3% fewer provider hours, 1.9% improvement in productivity per hour, offset by 1.8% deterioration due to reimbursement rates. This was another quarter in which productivity per hour increased less than the blended full fee increase of our affiliated dental groups, thus indicating a drop in real productivity per hour. Greg will provide comments on continuing revenue softness during his prepared remarks. Beginning last quarter, we are now providing an additional table entitled Components of Same Market Patient Revenue Growth, which breaks down same market growth into existing practices, de novo or newly constructed practices, expanded or relocated practices, and acquired practices. We have added this information given the increasing number of de novo facilities we are developing. The last three categories of the table require capital investment while the existing practices require no capital investment beyond maintenance capital expenditures. Excluding the contribution of end market practice acquisitions to our platform affiliates, same market patient revenue declined 2.4% year-over-year in the second quarter. Excluding the facilities that received capital investment during the quarter, existing practices experienced a negative growth of 3.2%, which is a slight improvement from the first quarter of this year. Read the rest of this transcript for free on seekingalpha.com