CHOWCHILLA, Calif., Dec. 22, 2003 (PRIMEZONE) -- Global Diversified Industries, Inc. (OTCBB:GDVI), focused on the modular building industry with emphasis on the education market, today announced that total revenues increased to $2.63 million for the six-months ended October 31, 2003. There were no operations and no revenues for the company in 2002. Gross profit for the six-month period in 2003 was $964,254. The financials are available in the form 10-Q, quarterly report that has been filed with the U.S. Securities & Exchange Commission.
Revenues for the quarter ended October 31, 2003 totaled $1.71 million and were generated as a result of initiation of operations of Global Modular, a wholly-owned subsidiary, which manufactures and markets pre-fabricated, modular structures, and the modular construction site work and renovation business done by MBS Construction, also a wholly-owned subsidiary.
"We are pleased with the results of our most recent quarter, with higher than forecasted sales revenue generated," said Phil Hamilton, the Company's Chairman and CEO. "Global Diversified has made significant strides this year with the renewal of our piggyback contract, state approvals on engineered product designs, a new credit facility, and a impressive list of satisfied customers. All these accomplishments will provide the synergies necessary to help our subsidiaries exceed our business model for 2004 and beyond. We will continue to put forth every effort to improving our business operation, resulting in potential increased corporate profitability and value to our shareholders."
About Global Diversified Industries, Inc.
Global Diversified Industries, Inc. is a holding company controlling two wholly owned subsidiaries. For investor information contact Paul Knopick at 949-707-5365 or pknopick@eandecommunications.com.