CHOWCHILLA, Calif., Oct. 30, 2003 (PRIMEZONE) -- Global Diversified Industries, Inc. (OTCBB:GDVI) is pleased to announce its two wholly owned subsidiaries, Global Modular, Inc. and MBS Construction, Inc. combined have realized a profit from its first quarter production and site work efforts.
Phil Hamilton, Global Diversified Industries chairman and chief executive officer, commented, "the most encouraging aspect of our first quarter profit is the fact we accomplished this feat from only six weeks of production in the quarter commencing May 19, 2003." Hamilton credits the positive earnings from securing custom-type modular projects, which renders the modular division higher returns. Hamilton adds, "our second quarter sales bookings have significantly increased vs. the first quarter, which we will elaborate in future announcements. Most importantly, our overall forecast for fiscal year 2003 looks quite favorable since current quote activity is very high for this time of year." Hamilton concludes, "more than 50% of our quote activity includes custom (permanent-type) structures, which should maintain attractive profits."
About Global Diversified Industries, Inc.
Global Diversified Industries, Inc. is a holding company controlling two wholly owned subsidiaries.