Dyna Group International Announces Earnings for the Fourth Quarter Ended December 31, 2000
NEW BRAUNFELS, Texas--March 8, 2001--Dyna Group International (OTCBB:DGIX) announced today earnings from operations for the 4th quarter and year ending December 31, 2000.
4th quarter ended Year ended
December 31 December 31
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2000 1999 2000 1999
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Revenues 3,070,750 2,389,733 10,688,452 9,293,363
Operating income (loss) 426,080 170,909 823,707 459,739
Income Tax 175,035 41,577 304,635 139,180
Net earnings 251,045 134,179 519,072 231,192
Earnings per share .03 .02 .07 .03
Total revenues increased $681,017, 28.5% for the 4th quarter ending 12-31-00. Net earnings increased by $116,866, 87% over the 4th quarter of 1999.
Year ending 12-31-2000 revenues increased $1,395,089, 15% from $9,293,363 to 10,688,452 over the previous year. Net earnings increased $287,880, 125% from $231,192 to $519,072 as a result of improved profit margin and increased revenues. Non-reoccurring legal expenses for the year ended 12-31-2000 related to the Perma Bond lawsuit of $191,000 were expensed as incurred reducing earnings by .02 per share.
Roger Tuttle, CFO and President of Great American Products, the sole operating company of DGIX stated, "We are pleased with the progress we have made this past year. Profit margins increased due to greater operating and purchasing efficiencies, without significant price increases. Revenues increased in a market that showed flat or declining sales for our competitors. We attribute our success to quality products, improved service and the successful introduction of new products.We are also pleased with the increase in net earnings."
Tuttle also stated that our low share price is due to our disappointing performance in 97 and 98. We intend to increase our public relations efforts in 2001 and hopefully improve the value of our shares reflecting the progress the company is making.
Great American Products, a wholly owned subsidiary of Dyna Group International (DGIX) is recognized as the leader in the manufacturing and distribution of pewter sports licensed collectibles. The company holds licenses with the NFL, MLB, NBA, NHL, NASCAR and 15 top drivers, ISC, WCW and others. In addition to the licensed products, Great American Products also produces a broad line of non-licensed collectible products that are sold through a variety of retail channels. The products are prized by collectors due to their design excellence, craftsmanship and the lasting value of pewter.
Some of the statements in this news release may be forward-looking statements that may involve certain risk and uncertainties. Investors and others are cautioned that the forward-looking statements are based on estimates, projections, beliefs and assumptions of management and are not guarantees of future performance.