Union Dental Reports a Profit for the 3rd Quarter
November 14 2008 - 7:30AM
Marketwired
Union Dental Holdings, Inc. (OTCBB: UDHI) --
http://www.uniondentalcorp.com/ir -- announced today with the
filing of their 10-QSB to the Securities & Exchange Commission
a profit for the 3rd Quarter with increased profits for both the
3-months and 9-months ending Sept. 30, 2008. In the Consolidated
Statement of earnings for the three months ended September 30,
2008, the Company reported a profit of $197,231 with revenues of
$519,200 as compared to a profit of $38,988 with revenues of
$566,497 for the same period in 2007. For the nine months ended
September 30, 2008, the Company generated profits of $24,744 as
compared to a loss of $809,001 for the same period in 2007.
Dr. Green, President and CEO of Union Dental, commented: "The
profit for the quarter is mainly attributed to a reduction in
overhead and the gain from valuation of the derivatives liability.
This is the third straight quarter Union Dental has shown a profit
and it is a desire to keep our stockholders happy with their
investment which drives our daily efforts. We thank you all."
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 or www.afadental.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.
CONTACT INFORMATION: Dr. George D. Green President Email
Contact
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