Global Diversified Industries, Inc. Modular Division Secures New Order Worth More Than $3 Million for Immediate Delivery
Thursday June 9, 5:00 am ET
- Prominent Los Angeles Area School District Exclusively Specifies The Aurora Permanent Construction Design -
CHOWCHILLA, Calif., June 9 /PRNewswire-FirstCall/ -- Global Diversified Industries, Inc. (OTC Bulletin Board: GDVI - News), focused on the modular building industry with emphasis on the education market, is pleased to report that it has secured a contract with a prominent Los Angeles area public school district valued at more than $3 million.
The project consists of nearly 26,000 square feet of total space distributed over several campuses for multiple uses including classrooms, music rooms, childcare, health services and others. The school district, including parents of the students, wanted "permanent type" structures to aesthetically blend with their existing campuses. When they learned through industry sources that Global Modular, Inc. acquired the rights to Aurora Modular designs, they contacted Global and expressed their urgent need for the project to be completed by early fall of 2005.
Global Diversified Industries Chairman and CEO Phil Hamilton said, "Due to our recent plant modifications including the implementation of a fourth production line, we are positioned to accommodate this magnitude of an order with a quick turn around." Hamilton added that, "since our state approved designs are current, we can commence fabrication within the next couple weeks. During the production process, our construction division will be on site performing earth and concrete work resulting in optimum continuity throughout the entire project."
About Global Diversified Industries, Inc.
Global Diversified Industries, Inc. is a holding company with two wholly owned subsidiaries, Global Modular, Inc. and MBS Construction, Inc. Both are engaged in the modular construction marketplace with an emphasis on educational projects. They incorporate 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:
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Global Diversified Industries, Inc. Year-End Revenues Top $9.2 Million, Up 170 Percent; $20 Million in Revenues Projected for Current Fiscal Year; Manufacturing Plant Capacity $50 Million in Sales
Note to Shareholders
CHOWCHILLA, CA, Aug 24, 2005 (MARKET WIRE via COMTEX) -- Global Diversified Industries, Inc. (OTC BB: GDVI), focused on the modular building industry with emphasis on the education market, recently reported that revenue for the fiscal year ended April 30, 2005, totaled $9.2 million, up 170 percent compared to revenues of $3.4 million in the previous fiscal year. "Our projected revenues are estimated to top $20 million in the current fiscal year and this current sale plays a key role in that result," Mr. Hamilton said. "We urge our shareholders and others interested in the Company to keep up with our achievements and news about the Company and its products and services at our updated web site at http://www.gdvi.net." Net income for the fiscal year ended April 30, 2005 totaled $501,956 compared to a loss of $(428,067) in the previous year, a 217 percent increase. The Company reported that working capital increased to $2.1 million, up from $1.5 million, and that total stockholders' equity was up 32 percent to $3.9 million from $2.97 million fiscal year.
"We are especially pleased to report four straight quarters of positive earnings for the year," said Phil Hamilton, CEO. "Our 100,000-square-foot manufacturing facility in Chowchilla has the capacity to provide us $50 million in revenues annually and we are delighted to be rapidly growing toward that goal."
Note to Shareholders:
Why are we so bullish about our chances of continued success? As a stockholder, you should know that 73 percent of California classrooms are more than 25 years old and one million students here attend schools with bathrooms that don't work. It is estimated that nearly 1,000 California campuses are critically overcrowded, exceeding by 200 to 300 percent state density guidelines. California has the third most overcrowded schools in the nation and students simply don't do as well in such a facility, according to experts who have studied this crisis. That is why California is moving forward to solve this problem.
As a stockholder, you should be aware of our goals. These include:
* Doubling revenues over the next two fiscal years, from $20 million projected for the 2006 fiscal year, to our goal of $40 million in 2007. The Company will also grow through strategic acquisitions both inside and outside California.
* Achieving profits of $2 million in fiscal year 2006 and $4 million the following year. We will add sales people as part of this effort.
* Adding another assembly line, expanding the factory to increase plant production capacity, acquiring a larger facility for our MBS subsidiary and entering the commercial market with "New Generation Products."
I am very proud of what we have built in a short period of time and very pleased with my fellow stockholders who have remained loyal to our endeavors. We are working for you.
Sincerely,
-------------------- I never knew a Nickle was worth so much....
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