DGIX-Undervalued for a .40 stock? Company posted quarterly
earnings.
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.
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