Union Dental Holdings, which operates a network of U.S. dentists for union members, reported a 49% increase in revenues for the second quarter of 2010.
For the quarter (end-June 30), revenues were $1.1 million, compared to $769,000 for the same quarter a year ago. Net income was $315,000, a 722.5% increase from $38,000 for the second quarter of 2009.
Union Dental Holdings operates Direct Dental Services and Union Dental. Direct Dental Services provides dentists with "areas of exclusivity" to participate with various unions, including the Communications Workers of America (CWA), International Brotherhood of Electrical Workers (IBEW), United Association of Plumbers and Pipefitters, and Association of Flight Attendants-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 also manages a dental practice in Coral Springs, FL.
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