Diversified Product Inspections Unveils Year-End Numbers, Reports Profit

Tennessee-based Diversified Product Inspections Inc, a provider of independent product failure analysis, air contamination and fire investigations for the insurance industry announced its year-end financial information with a net income figure for 2003 of $641,599 compared to the loss of $149,570 reported in 2002.

John Van Zyll, president and CEO stated, “DPI is very pleased to announce that net income for the year 2003 was $568,315. This is a significant change from the $149,570 loss reported in 2002. This translates to three cents per share earnings compared to a one cent per share loss in 2002. Revenues were $2,432,396 in 2003 versus revenues of $1,999,975 for 2002, a 21 percent revenue increase. This increase occurred with less than a one percent (1 percent) increase ($19,732) in operating expenses.

“The company is poised for a positive year in 2004 by moving forward with plans to build and own a new building and eliminating the costly lease arrangement on the current facility. The prospects of HomeCheckSafety.com and the consulting arrangement with GBC, Inc. will also be important in the company’s growth in 2004. The core business of providing product liability forensic inspections for the insurance industry continues to be strong.”