Union Dental Announces First Quarter Revenues and Profits
June 02 2005 - 7:00AM
Business Wire
Union Dental Holdings, Inc. (OTCBB:UDHI) announced today the filing
of its 10-QSB with the Securities & Exchange Commission which
included the financial results for the quarter ending March 31,
2005. In the consolidated statement of earnings UDHI reported
quarterly income of $88,560 on revenues of $513,637. Dr. George D.
Green, President and C.E.O. commented: "I am extremely pleased with
the first quarter results and with the recent acquisition of Dental
Visions and their approximate 750 patient base we anticipate
annualized revenues to be even higher." UDC has been providing a
Dental Network for the Communications Worker of America (CWA) local
unions in Florida since its inception and has expanded the concept
and Dental Network throughout District 3 which along with Florida
includes Alabama, Georgia, Kentucky, Louisiana, Mississippi, North
Carolina, South Carolina and Tennessee as well as across the
southern United States and California. The communications Workers
of America union members represent workers who are employed by
BellSouth (NYSE:BLS); Qwest (NYSE:Q) AT&T (NYSE:T); Lucent
(NYSE:LU); General Electric (NYSE:GE); Verizon (NYSE:VZ); SBC
Communications (NYSE:SBC), Avaya (NYSE:AV) and many other varied
occupational fields such as public maintenance, food service,
flight attendants and law enforcement. About Union Dental Holdings,
Inc., Direct Dental Services, Inc. and Union Dental Corp. - Direct
Dental Services and Union Dental Corp. provide dentists with "areas
of exclusivity" to participate with various unions including the
Communications Workers of America ("CWA") and International
Brotherhood of Electrical Workers (IBEW) Dental Networks. Union
Dental Corp. receives annual management fees from the dentists in
exchange for practicing in these "areas of exclusivity" where CWA
and IBEW members use the dentists' services. DDS/UDC has contracts
with CWA & IBEW Local Unions to provide a dental network
utilizing the members existing insurance policy. The dentists in
the Dental Network provide services in the areas for union members,
as well as existing patients in exchange for an annual management
fee. The network of dentists accepts payment from union insurance
plans for services rendered as payment in full, with certain
procedures requiring a small out-of-pocket co-payment from the
union member patient. In addition, Union Dental Corp. acquired the
assets of an existing dental practice (excluding the patient list)
and manages the 17 year profitable dental practice. UDC and DDS are
wholly owned subsidiaries of Union Dental Holdings, Inc. Website:
http://www.uniondental.com For Investor Relations information,
please call: 1-800-288-7499 or e-mail: info@dpmartin.com.
"Safe-Harbor" Statement: Under the Private Securities Litigation
Reform Act of 1995. This press release may contain forward-looking
information within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), including
all statements that are not statements of historical fact regarding
the intent, belief or current expectations of the Company, its
directors or its officers with respect to, among other things: (i)
the Company's financing plans; (ii) trends affecting the Company's
financial condition or results of operations; (iii) the Company's
growth strategy and operating strategy; and (iv) the declaration
and payment of dividends. The words "may," "would," "will,"
"expect," "estimate," "anticipate," "believe," "intend," and
similar expressions and variations thereof are intended to identify
forward-looking statements. Investors are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, many of which are beyond the
Company's ability to control, and that actual results may differ
materially from those projected in the forward-looking statements
as a result of various factors.
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