Force Protection, Inc. (NASDAQ:FRPT) announced that it has received
today a new contract modification under delivery order 6 for the service
and support, including spare parts, of its Mine Resistant Ambush
Protected Vehicles from the Marine Corps Systems Command, Quantico,
Virginia under Contract M67854-07-D-5031. Work under the order, which
totals $42.5 million, is expected to be completed by December of 2009
and will be executed through the Company’s
joint venture, Force Dynamics LLC, with General Dynamics Land Systems.
The award was previously announced by the United States Department of
Defense.
Michael Moody, Chairman and Chief Executive Officer of Force Protection,
commented, “We remain proud of and grateful
for the strong relationship we have developed with the United States
Marine Corps, our largest customer. We continue to see and respond to
the need for service and support for their fleet of vehicles and are
pleased to have increased levels of visibility into our 2009 revenue
stream.”
About Force Protection, Inc.
Force Protection, Inc. is a leading American designer, developer and
manufacturer of life saving survivability solutions, predominantly
ballistic- and blast-protected wheeled vehicles currently deployed by
the U.S. military and its allies to support armed forces and security
personnel in conflict zones. The Company’s
specialty vehicles, the Cougar, the Buffalo and the Cheetah, are
designed specifically for reconnaissance, forward command and control,
and urban operations and to protect their occupants from landmines,
hostile fire, and improvised explosive devices (IEDs, commonly referred
to as roadside bombs). The Company is one of the original developers and
primary providers of vehicles for the U.S. military’s
Mine Resistant Ambush Protected, or MRAP, vehicle program. For more
information on Force Protection and its vehicles, visit www.forceprotection.net.
Safe Harbor Language
This press release contains forward looking statements that are not
historical facts, including statements about our beliefs and
expectations, are forward-looking statements. These statements are based
on beliefs and assumptions by Force Protection’s
management, and on information currently available to management.
Forward-looking statements speak only as of the date they are made, and
we undertake no obligation to update any of them publicly in light of
new information or future events. A number of important factors could
cause actual result to differ materially from those contained in any
forward-looking statements. Examples of these factors include, but are
not limited to, our ability to fulfill the above described orders on a
timely basis, our ability to effectively manage the risks in our
business; the reaction of the marketplace to the foregoing; and other
risk factors and cautionary statements listed in the Company’s
periodic reports filed with the Securities and Exchange Commission,
including the risks set forth in the Company’s
Form 10-Q for the quarter ended September 30, 2007.
Company Contact:
Force Protection, Inc.
Tommy Pruitt
Senior
Communications Director
843-574-3866
or
Investor
Relations Contact:
ICR Inc.
James Palczynski
Principal
and Director
203-682-8229
