Union Dental Holdings, a national provider of dental services to union members and dentists, reported revenues of $1.1 million for the first quarter of 2011 (end-March 31), compared with revenues of $611,000 for the first quarter of 2010.
Net income for the quarter was $ 2,500, compared with a loss of $332,000.
"We are extremely pleased with our revenue growth over the prior year," said George Green, DDS, president and CEO. "Some of our expenses were higher in this quarter due to one-time charges in reference to audit and legal fees. All of these expenses are warranted as we continue to work with J&C Global Securities to explore our options going forward."
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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