Union Dental Reports a Profit for Year End 2008 and an 8 Percent Increase in Revenues
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CORAL SPRINGS, FL, Apr 07 (MARKET WIRE) --
Union Dental Holdings, Inc. (PINKSHEETS: UDHI) -- www.uniondental.com/ir
-- a provider of multi-state dental services for union members, announced
today its revenues for the year ending December 31, 2008. The revenues
from operations as compared to the same period for 2007 increased 8
percent to $2,593,821 from $2,403,176. The return to profitability is
attributed to the lowering of IR consulting fees, professional fees and
general operating expenses while increasing its revenue base.
The Company's Consolidated Statements of Operations for December 31, 2008
reflects a profit of $226,292 as compared to a loss of $641,439 during the
comparable period in 2007.
Dr. Green, President and CEO, commented: "I am pleased we have returned to
profitability. Again, a majority of our losses in the past were related to
the interest expense, increased IR consulting fees, Professional Fees and
a derivative issue for some of our financing."
Dr. Green further stated: "As a part of our expansion, we intend to be a
full service office in our Coral Springs facility which we just expanded
in January with General Dentistry, Extractions, Orthodontics, Periodontics
(gum therapy), Endodontics, Implants, Pedodontics (children's dentistry),
Prosthodontics (crowns, bridges & dentures), Sedation Dentistry, Veneers
and Cosmetic Dentistry."
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.uniondentalcorp.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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