Diversified Product Inspections, Inc. Reports Year End Financial Information.Business Editors OAK RIDGE Oak Ridge, city (1990 pop. 27,310), Anderson and Roane counties, E Tenn., on Black Oak Ridge and the Clinch River; founded by the U.S. government 1942, inc. as an independent city 1959. , Tenn.--(BUSINESS WIRE)--April 4, 2003 Diversified Product Inspections, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :DPRI DPRI Disaster Prevention Research Institute (Kyoto University, Japan) DPRI Defense Policy Review Initiative (Japanese Self Defense Force) DPRI Directives, Publications and Reports Index DPRI Discrete Pursuit Reward-Inaction ), a provider of independent product failure analysis, air contamination and fire investigations for the Insurance Industry announced today its year end financial information. John VanZyll, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. stated, "DPI (Dots Per Inch) The measurement of the resolution of display and printing systems. A typical CRT screen provides 96 dpi, which provides 9,216 dots per square inch (96x96). Flat panel displays from 110 to 200 dpi have also been developed. continued its path towards profitability. DPI lowered its loss from $425,609 in 2001 to $149,570 for the fiscal year ended December 31, 2002. What was significant though was that the company had its first profitable quarter, since going public in March 2001, in the last quarter of 2002 with net income of $49,366. This 2002 4th quarter profit followed a 3rd quarter loss of $6,989. Considering this positive trend occurred during the current economic slow down and the concerns over world events, the company is encouraged that this trend will continue in 2003. Our core business of providing forensic inspections on failed products for the insurance industry continues to be strong in the first two months of 2003. The number of inspections received is up 65% over the same two months in 2002." About Diversified Product Inspections, Inc. (www.dpi-inc.com) Launched in 1991 and headquartered in Oak Ridge, Tennessee Oak Ridge is an incorporated city in Anderson and Roane Counties in East Tennessee, about 25 miles northwest of Knoxville. Oak Ridge's population was 27,387 people at the 2000 census. , 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 The substitution of one person in the place of another with reference to a lawful claim, demand, or right, so that he or she who is substituted succeeds to the rights of the other in relation to the debt or claim, and its rights, remedies, or Securities. - 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 An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called 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. |
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