Diversified Product Inspections, Inc. Reports Year End Profits for 2003.Business Editors OAK RIDGE, Tenn.--(BUSINESS WIRE)--March 31, 2004 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 with a net income figure for 2003 of $568,315 compared to the loss of $149,570 reported in 2002. John Van Zyll, 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 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 Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. 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% revenue increase. This increase occurred with less than a one percent (1%) increase ($19,732) in operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. . 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 GBC Game Boy Color GBC Global Business Coalition GBC Green Building Council GBC George Brown College GBC Great Basin College (Nevada) GBC General Binding Corporation GBC Greater Baltimore Committee GBC Goldey-Beacom College , 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." 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 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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