Message #2 From:
NewsBot Date: November 16, 2005 05:45:00 AM
DPRI News Diversified Product Inspections, Inc. Reports Profitable Third Quarter
OAK RIDGE, Tenn.--(BUSINESS WIRE)--Nov. 16, 2005--Diversified Product Inspections, Inc. (OTCBB:DPRI), a provider of independent product failure analysis, air contamination and fire investigations for the insurance industry announced today that the third quarter was profitable with a net profit of $31,421.
John VanZyll, President and CEO stated: "Earnings for the third quarter 2005 were $31,421 on revenues of $526,045 compared to $25,358 on revenues of $513,615 in the third quarter of 2004. Revenues for the nine months ended September 30, 2005 were $1,309,186 with a loss for the first nine months of $133,986 compared to revenues of $1,633,430 and net income of $37,219 for the nine months ended on September 30, 2004."
"We were pleased to report a profit for the third quarter, which is our first profitable quarter this year. Our new pricing structure and an increase in the number of higher dollar Level II and Level III engineering inspections have increased our revenues in the third quarter. The first and second quarter loses were basically due to the cost of the move into our new facility in February and March 2005 and the slow down it created in our inspection investigation report output. Those situations are behind us and we believe we are on a positive track for the remainder of the year."
About Diversified Product Inspections, Inc. (www.dpi-inc.com)
Launched in 1991 and headquartered in Oak Ridge, Tenn, Diversified Product Inspections, Inc. provides expertise and unbiased, independent investigations on product failures, air contamination and fire investigations of all multi-billion dollar markets which directly impact three groups: the insurance industry, manufacturers and consumers. In addition, DPI has developed an array of comprehensive services for these three targeted groups, giving the company the ability to better inform consumers of defective products and recalls (http://www.homechecksafety.com), improve quality control processes with manufacturers and work with the insurance industry to recover funds via subrogation - a process whereby the insurer enforces its right to recoup from any third party that caused the loss on behalf of the policyholder.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Act of 1995. The words "believe," "expect," "anticipate" and "project," and similar expressions identify forward-looking statements, which speak only as of the date the statement was made. Such statements may include, but not be limited to, projections of revenues, income or loss, expenses, plans, and assumptions relating to the foregoing. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future results could differ materially from those described in forward-looking statements.
