Force Protection, Inc. Files 2007 Form 10-K
Monday, September 15, 2008 3:28 PM
Symbols: FRPT

Company intends to file all outstanding Form 10-Qs on or before September 30, 2008

Force Protection, Inc. (NASDAQ: FRPT) today announced results for the full fiscal year ended December 31, 2007 and filed its Annual Report on Form 10-K for the year ended December 31, 2007 with the Securities and Exchange Commission. The Company noted that this filing includes restated condensed consolidated financial statements for the periods ended March 31, 2007, June 30, 2007 and September 30, 2007. Additionally, the Company stated that it intends to file separate amended Quarterly Reports on Form 10-Q for the first, second and third quarters of 2007 and Quarterly Reports on Form 10-Q for the first and second quarters of 2008 on or before September 30, 2008.

On September 12, 2008, the Company requested an extension from the Nasdaq Listing Qualifications Panel to file its Quarterly Reports on Form 10-Q for the first and second quarters of 2008 on or before September 30, 2008.

Also, the Company announced that it will hold a conference call with investors to discuss the 2007 and year-to-date 2008 results as well as its business outlook at 4:30 pm EDT on September 30th, which will be available to the public via webcast.

Michael Moody, President & Chief Executive Officer of Force Protection said, “We are pleased to have filed our Annual Report on Form 10-K in accordance with the extension of time granted by the Nasdaq Hearings Panel. Moreover, we look forward to filing our amended Quarterly Reports on Form 10-Q for the first, second and third quarters of 2007 and Quarterly Reports on Form 10-Q for the first and second quarters of 2008 on or before September 30, 2008 to comply with the Nasdaq continued listing requirements. This will provide us with the opportunity to discuss the details of our current financial performance and business outlook with our shareholders during the September 30th conference call and webcast.”

For the year ended December 31, 2007, we reported net sales of $890.7 million, an increase of approximately 354% compared to the year ended December 31, 2006, for which we reported net sales of $196.0 million.

For the year ended December 31, 2007, we reported net income of $7.7 million, or $0.11 per share on a diluted basis, compared to the year ended December 31, 2006, for which we reported net income of $16.6 million, or $0.36 per share, on a diluted basis.


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