Union Dental Reports Increase in 2nd Quarter and 6 Month Revenues
August 18 2009 - 6:15AM
Marketwired
Union Dental Holdings, Inc. (PINKSHEETS: UDHI) --
http://www.uniondental.com/ir -- a Company that operates and
manages a network of dentists throughout the United States for
union members, announced today the financial results for the
quarter ending June 30, 2009. In the Consolidated Statement of
earnings the Company reported a loss of $100,113 from operations
for the quarter on revenues of $769,234 as compared to a profit of
$120,494 on revenues of $740,443 during the same period in 2008.
Revenues increased 3.8% for the quarter.
For the six months ending 6/30/09 the Company reported 12.5%
higher revenues and a loss of $92,733 on revenues of $1,450,993 as
compared to a profit of $181,495 on revenues of $1,268,543 for the
same period in 2008.
Dr. Green, President and CEO, commented: "We are pleased our
revenues have once again increased for the quarter and six months
and our loss is attributed to increased costs associated with stock
based compensation and consulting fees. We believe these costs to
be one time and we are cautiously optimistic with regards toward
returning to profitability next quarter."
About Union Dental Holdings, Inc., Direct Dental Services, Inc.
and Union Dental Corp.
Direct Dental Services and Union Dental Corp. are wholly owned
subsidiaries. Direct Dental Services provides dentists with "areas
of exclusivity" to participate with various unions including the
Communications Workers of America (CWA) and the International
Brotherhood of Electrical Workers (IBEW), United Association of
Plumbers and Pipe Fitters (UA) and The Association of Flight
Attendants - Communications Workers of America (AFA-CWA). Direct
Dental Services 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. Union Dental
manages a dental practice in Coral Springs, Florida.
WEBSITE: www.uniondental.com/ir
"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.
CONTACT INFORMATION: Dr. George D. Green President Email
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