Davis Surveying Has Record Growth in Fiscal Year

Firm's revenues grew 18% in year, have doubled since '98

LISLE, IL, July 7, 2004 -- Business in markets served by Davis & Company, Ltd. is bouncing back to levels better than prior to the last recession and the company has just celebrated a record year. Revenues rose 18 percent in its fiscal year ending June 30, and have doubled since 1998. According to president Greg Davis, "With this growth I'm confident we have become the largest marine survey firm in North America. I also see continuing gains in markets served and our growth advancing by another 13 percent in the next year." Privately owned, Davis prefers not to divulge actual financial details of operations.

The business is growing in literally all practice areas. "Our leading surveying clients are among the top five boat insurers in the U.S. Our engineering group's commercial and legal liaison work has grown 40% in the last two years and now includes the U.S. Government within its client list," Davis points out. In terms of forecasted growth, he says, "We provide a high quality, consistent and timely service to our clients and believe our future will be tied to national program based pleasure and commercial survey work."

New relationships and projects that Davis recently added offer a picture of the variety of work it does and sectors served. In the surveying area, new work includes a national survey services contract with a major recreational boat insurance company, and partnership with "boats.com" to provide national surveys for its "boatsurvey" brand. In consulting, staff will be working on a four-year program for a commercial boat lender on stage-of-completion-surveys on new containerships, and an extended program of construction completion surveys for a lender financing custom recreational motor yachts. Also new is a contract award from the U.S. Coast Guard for vessel survey work and another from a commercial bank for multi-state customer portfolio appraisals.

Davis & Company Ltd. is the largest firm in North America specializing in recreational and commercial marine surveys and engineering. It also performs Cargo and Loss Control surveys. The Davis Consulting Group is involved in all areas of engineering for the marine environment related to the design and production of land and water-based vehicles, structures, and their propulsion systems. The international practice deals in the scientific, engineering and design aspects of ships, small boats and other craft. More details are available by visiting www.daviscoltd.com.

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