Dyna Announces Earnings for Q1 Ended March 31, 2000
19 May 2000
Dyna Group International Announces Earnings for the First Quarter Ended March 31, 2000
NEW BRAUNFELS, Texas--May 19, 2000--Dyna Group International (OTCBB:DGIX) announced earnings for the first quarter ended March 31, 2000.First Quarter Ended March 31 ----------------------- 2000 1999 ----------------------- Revenues 1,877,713 1,696,682 Operating income (50,683) 74,963 Income Tax (1,300) 25,462 Net Income (loss) (51,983) 48,231 Earnings per share (.01) .01
Total revenues increased $181,031 (10.7%). Operating income decreased $125,646 due to increased royalty expenses, lower gross margins and legal expenses.
On May 15th a jury in Comal County, Texas, ruled in favor of Great American Products on a lawsuit versus Perma-Bond, a division of National Starch. An award in the amount of $520,000 was granted to Great American Products. We anticipate that the Appeals process will delay the final settlement of this case.