…and it’s make a profit, albeit a small profit, but a profit nonetheless.
CORAL SPRINGS, FL–(Marketwired – March 06, 2014) – Union Dental Holdings, Inc. (PINKSHEETS: UDHI) www.uniondental.com/ir — a provider of multi-state dental services for union members, announced today its unaudited revenues of $3,996,178 for the year ending December 31, 2013. This is compared to the unaudited revenues of $4,258,250 for 2012.
The Company’s Unaudited Consolidated Statements of Operations for December 31, 2013 reflects a profit of $23,419 from operating income as compared to a profit of $75,165 during the comparable period in 2012. The Company believes the lower profits are directly related to the change in the union insurance plan which was effective April 1, 2013. The Company estimated the union employees were not aware of all of the changes which actually gave the employees more dollar benefits than the previous year. The second and third quarters were dramatically affected by this change however it also appears that the fourth quarter returned to normal.
Dr. Green, President and CEO, commented: “I am pleased we are still again profitable especially in this dramatic worldwide economic downturn we are facing. We feel the insurance issue will be solved in the next quarter and we will be able to further expand our marketing efforts as planned.”