CORAL SPRINGS, Fla., Aug. 17, 2010 (GLOBE NEWSWIRE) -- Union Dental Holdings, Inc. (Pink Sheets:UDHI) - http://www.uniondental.com/ir -; At 7:35AM EDT, Union Dental Holdings, Inc. issued a press release reporting the 2nd quarter profits, revenues and the corresponding percentage increases. The company apologizes for any confusion from the earlier release.
The official revenue for the quarter ending 6/30/2010 is $1,144,655. The Q2 2010 revenue represents a 48.8% increase from the Q2 2009 revenue of $769,234 and an 87.29% increase from the Q1 2010 revenue of $611,160.
The official net income for the quarter ending 6/30/2010 is $315,345. The Q2 2010 net income represents a 722.5% increase from the Q2 2009 net income of $38,340. Percent change from Q1 2010 is not provided as the first quarter of 2010 contains a net loss.
| Revenue (2nd Quarter Year-to-Year Comparison) | |||
| 2nd Quarter (6/30/2009) | 2nd Quarter (6/30/2010) | Dollar Change | Percentage Change |
| $769,234 | $1,144,655 | $375,421 | 48.805% |
| Revenue (2010 Prior Period Comparison) | |||
| 1st Quarter (3/31/2009) | 2nd Quarter (6/30/2010) | Dollar Change | Percentage Change |
| $611,160 | $1,144,655 | $533,495 | 87.292% |
| Net Income (2nd Quarter Year-to-Year Comparison) | |||
| 2nd Quarter (6/30/2009) | 2nd Quarter (6/30/2010) | Dollar Change | Percentage Change |
| $38,340 | $315,345 | $277,005 | 722.496% |
| Net Income (2010 Prior Period Comparison) | |||
| 1st Quarter (3/31/2009) | 2nd Quarter (6/30/2010) | Dollar Change | Percentage Change |
| ($332,063) | $315,345 | $647,408 | P* |
*P is used when a company posts a profit in the latest period against a loss in the prior period; the percent change is simply denoted as a "P".
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.