Union Dental Reports 1st Quarter Profits and 12% Higher Revenues
14 May 2008 - 9:15PM
Marketwired
CORAL SPRINGS, FL -- http://www.uniondental.com/ir -- a Company
that operates and manages a network of dentists throughout the
United States for union members, announced today with the filing of
their 10-QSB to the Securities & Exchange Commission the
financial results for the quarter ending March 31, 2008. In the
Consolidated Statement of earnings the Company reported a profit of
$61,001 from operations for the quarter on revenues of $709,595 as
compared to a loss of $336,079 on revenues of $632,637 during the
same period in 2007. Revenues were up over 12% for the quarter.
The increase in revenues was primarily attributable to the
Company's growing network of dental service providers who pay a fee
to the Company for the opportunity to join Union Dentals' growing
list of contracted unions. Most recently, the Company signed a
national contract to build a nationwide dental network for the
Association of Flight Attendants.
Dr. Green, President and CEO, commented: "I am pleased our
revenues have once again increased for the quarter and we have now
returned to profitability. I believe we can continue to grow our
business and remain profitable."
Dr. Green further stated: "Union Dental's most recent contract
with the Association of Flight Attendants - Communications Workers
of America (AFA-CWA) is one of the main reasons for this increase
in revenues. We have begun to offer participation amongst dental
offices in our already established dental networks for the Telecom,
Electrician, and Machinists Unions with the AFA at an additional
fee. Almost all these offices have elected to participate at a very
low cost to UDHI for procurement. Management feels that the more
groups the offices participate with the higher renewal rates UDHI
will be able to project yearly."
AFA-CWA represents the employees of 20 major airlines such as
United, US Airways, Northwest, America West, Alaska Airlines, PSA,
Mesa, Air Wisconsin, Spirit, Air Tran, AWA, American Eagle, Midwest
Airlines, Miami Air, Piedmont, Horizon & Hawaiian.
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
Contact
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