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.