CORAL SPRINGS, FL--(Marketwired - December 16, 2013) - Union Dental Holdings, Inc. (UDHI) -- http://www.uniondental.com/ir -- a Company that operates and manages a network of dentists throughout the United States for union members, announced the financial results for the quarter ending September 30, 2013. In the consolidated Statement of earnings for the nine months ending September 30, 2013, the Company reported income from operations of $82,293 on revenues of $3,101,276.
The Company reported income from operations for the quarter of ($16,628) on revenues of $1,026,161.
Dr George Green, President and CEO, stated: "Although revenues for the quarter and six months were down, I believe this is related to the loss of union members due to the economy. In my meetings with union officials, I have been told that new union members are coming on board and hopefully will make up the balance of this union reduction over the next 12 months."
About Union Dental Holdings, Inc.
Union Dental Holdings manages a 22 operatory full service dental practice in Coral Springs, Florida. It is the exclusive supplier of Drinkable Air's patented ozone atmospheric water generators for the US dental industry and is a leading innovator for bringing bacteria free water into the dental operatory settings. Union Dental operates two wholly owned subsidiaries, Direct Dental Services and Union Dental Corp. 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.
"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.
- Labor Issues
- Dental Care
Dr. George D. Green