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Global Diversified Industries, Inc. Announces Nine Month Revenues Up 98 Percent; Company Profitability Continues With Seven Consecutive Profitable Quarters 3/16/2006
CHOWCHILLA, Calif., March 16, 2006 /PRNewswire-FirstCall via COMTEX/ -- Global Diversified Industries, Inc. (OTC Bulletin Board: GDVI), focused on the modular building industry with emphasis on the education market (http://www.gdvi.net), today reported that revenues for the first nine months ended January 31, 2006 totaled $11.5 million, up 98 percent compared to revenues of $5.8 million in the previous nine months ended January 31, 2005.
Net income for the most current nine months totaled $493,834, up 195 percent compared to net income of $167,510 for the previous period. The Company has posted seven consecutive profitable quarters. "We completed four major contracts in California in this period," said Phil Hamilton, CEO. "We are very pleased that our Company is now recognized by California School Districts as one of the major manufacturers of classroom buildings."
The Company reported revenues of $2.1 million in the third quarter ended January 31, 2006, down slightly compared to the previous third quarter, while net income for the third quarter increased to $94,721 compared to $57,014 in the previous period.
About Global Diversified Industries, Inc.
Global Diversified Industries, Inc. is a holding company whose subsidiary Global Modular, Inc. is engaged in the modular construction marketplace with an emphasis on educational projects. It incorporates the latest in construction software, allowing them to better manage projects incorporating cost vs. profit ratios, construction and manufacturing schedules, purchasing, receiving and other facets of industrial management. The Company's work is found in Northern and Southern California, with numerous projects on budget for school systems throughout the state.
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release. For investor information contact:
Paul Knopick
-------------------- Trading is a blast!! Posts: 4921 | From: Rhode Island | Registered: May 2005
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I had to chase it to 0.102.... Damn....... Hope it could give me a few hundred $ profit.
-------------------- Investment Is Important, but Knowing where to make an Investment in your life makes all Difference Posts: 280 | Registered: Jan 2006
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Damn..... I guess ..... I should have waited .......
-------------------- Investment Is Important, but Knowing where to make an Investment in your life makes all Difference Posts: 280 | Registered: Jan 2006
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IceCold, I just noticed your sig about wanting an IS 350, Go for the 3 series instead. They've got a bi-turbo 306hp engine coming out at the end of the year.
Posts: 2049 | From: Jax,FL,USA | Registered: Nov 2003
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quote:Originally posted by kt325ci: IceCold, I just noticed your sig about wanting an IS 350, Go for the 3 series instead. They've got a bi-turbo 306hp engine coming out at the end of the year.
First let me make some money, I dont think, I would able to make $50K even by the end of the year..... IF i got at the loss rate I am heading for these days....
Damn..... this stock is at mid 80's
-------------------- Investment Is Important, but Knowing where to make an Investment in your life makes all Difference Posts: 280 | Registered: Jan 2006
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