Natick Dental Lab Firm Reports Losses
Natick-based dental laboratory operator National Dentex Corp.'s fourth quarter earnings swung to a net loss of $5.3 million compared to net income of $656,000 for the same quarter in 2007.
The company said the loss was the result of a $7 million, non-cash goodwill impairment charge. Without the charge, the company said it would have reported fourth quarter net income of $831,000.
The company also reported a net loss of $877,000 for the year as a result of the charge. In the previous year, the company reported net income of $6.6 million.
Sales for the quarter fell from $41.4 million in the previous year to $41.2 million on a decline in patient demand, the company said.
For the entirety of 2008, the company's sales increased to $171.7 million from $170 million the previous year.
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