Tennessee-based Diversified Product Inspections Inc., a provider of independent product failure analysis, air contamination and fire investigations for the insurance industry announced 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.”
Was this article valuable?
Here are more articles you may enjoy.