Union Dental Holdings, a national provider of dental services to union members and dentists, reported revenues of $1.1 million for the third quarter of 2010 (end-September 30), compared with revenues of $1.2 million for the third quarter of 2009.
Net income for the quarter was $189,000, compared with $366,000 for the same quarter a year ago.
"We now have converted a good portion of debt into equity showing the confidence our debt holders have in the company's future," said George D. Green, DDS, president and CEO of Union Dental. "The downturn of profits in the third quarter was directly attributed to building the certified surgical staff of the surgical unit, and expenses attributed to the specialists' pay during that time."
Union Dental operates a network of dentists throughout the U.S. for labor union members and has two subsidiaries: Union Dental Corp. and Direct Dental Services. Union Dental Corp. provides dentists with "areas of exclusivity" to provide services to several unions, while Direct Dental Services receives annual management fees from the dentists who operate in these areas. Union Dental also manages a dental practice in Coral Springs, FL.
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