What I'm buying, 1300 Smiles Ltd (ONT)

What I'm buying, 1300 Smiles Ltd (ONT). ONT own and operate full service dental facilities at twenty-four sites, mainly in QLD. Last Thursday they announced a 29.6% decline in revenue and 36.1% decline in NPAT for 1HFY14. The stock, previously trading at $6.50 closed the day at $5.92 and by Friday had settled at $6.30. Managing Director Dr. Daryl Holmes said the figures were down as a result of 1HFY13 figures being inflated as patients and dentists responded to the surprise closure of the Medicare Chronic Disease Dental Scheme (CDDS). The closure of the CDDS does have a silver lining as it is unlikely we will see a single buyer of dental services gain prominence any time soon. This company carries no debt, they make money, pay due tax and pass franked dividends to shareholders, and if that's not enough they also invest heavily in their community. PT $8.00