Dyna Group Announces Record Revenues and Earnings; Company Buys Back Stock
NEW BRAUNFELS, Texas--Nov. 2, 2001--Dyna Group International (OTCBB:DGIX) announced today earnings from operations for the third quarter ended Sept. 30, 2001.
3rd Quarter Ended 9 Months Ended
Sept. 30 Sept. 30
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2001 2000 2001 2000
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Revenues 3,336,694 3,019,924 9,589,705 7,617,702
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Operating Income (loss) 330,995 332,227 776,927 397,627
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Income Tax 100,155 107,300 265,155 129,600
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Net Income (loss) 230,840 224,927 511,772 268,027
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Earnings per share .031 .030 .069 .036
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For the Third Quarter 2001 as compared to the same period 2000, revenues increased $316,770, a 10.5%, operating income decreased slightly by $1,232 and net profit increased $5,913, a 2.6%. Earnings per share increased from .030 to .031.
For the 9 months ended Sept. 30 revenues increased 25.9% from $7,617,702 to $9,589,705 as compared to the same period in 2000, net earnings increased 90.9% in 2001 to $511,772, .069 per share as compared to $268,027, .036 per share. Legal expenses related to the Perma-Bond lawsuit were expensed as incurred and reduced operating income by $35,000 as compared to $176,000 in the same period of 2000.
The Company has renewed its commitment to buy back stock, which is not to exceed $1,000,000. During this 3rd quarter, the Company and Roger Tuttle have purchased small amounts of stock to date.
Roger Tuttle, CEO said, "We are pleased with the performance for the quarter. This is the 15th consecutive quarter in which revenues exceeded the same quarter of the previous year. We are very confident that the progress you have seen over the past several years, in particular most recent quarters, will continue. We are extremely focused on the future and very pleased with our progress. In addition we are now actively pursuing several opportunities in our market place."
Some of the statements in this news release may be forward-looking statements that may involve certain risks 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.