Dyna Group Announces Earnings for Q3 Ended September 30, 2000
15 November 2000
Dyna Group International Announces Earnings for the Third Quarter Ended September 30, 2000
NEW BRAUNFELS, Texas--Nov. 14, 2000--Dyna Group International (OTCBB:DGIX) announced today earnings from operations for the third quarter ended September 30, 2000.
3rd quarter ended 9 months ended
September 30 September 30
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2000 1999 2000 1999
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Revenues 3,019,924 2,848,549 7,617,702 6,903,630
Operating income (loss) 332,227 146,995 397,627 288,830
Income Tax 107,300 49,982 129,600 97,603
Net earnings 224,927 97,013 268,027 191,227
Earnings per share .03 .01 .04 .03
Total revenues increased for the 3rd quarter 6% as compared to the 3rd quarter of 1999. For the quarter, operating income increased from $146,995, .02 per share, to $332,227, .04 per share. The increase was due to sales growth in the sports licensed products area combined with an increase in gross margins.
For the year to date, revenues increased 10.3% from $6,903,630 to $7,627,702 as compared to the same period in 1999. Net earnings increased in 2000 to $268,027 or .04 per share as compared to $191,227 or .03 per share for the same period in the previous year. Legal expenses related to the Perma-Bond lawsuit were expensed as incurred and reduced operating income by $176,000 for the nine month period. We do not anticipate any additional significant legal expenses related to the appeal process to be incurred in 2000.
The introduction of new products successfully into the market place has had a significant impact on sales growth.
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.