Force Protection Announces Fourth Quarter , 2006 Year End Results
Force Protection, Inc. (Nasdaq: FRPT - News) -- the leading protective vehicle manufacturer, today announced results for the fourth quarter and year ended December 31, 2006.
For the year ended December 31, 2006, the Company’s net sales totaled $196.0 million. Net income was $18.2 million or $0.39 per diluted share.
In the fourth quarter of 2006, the Company’s net sales totaled $62.9 million. Net income was $17.0 million or $0.32 per diluted share during the fourth quarter of 2006.
Gordon McGilton, Chief Executive Officer of Force Protection, said, “2006 has been a milestone year in the history of Force Protection. It is the first year of profitability and a year of tremendous growth. With the completion of a $152.75 million equity offering, the appointment of several independent Board members, and the NASDAQ Stock Market listing, the Company is able to handle the rapid expansion and accommodate the continuing demand of our vehicles. We continue to focus on expediting deliveries through the efficient use of our production facilities and the collaboration of other defense industry leaders with whom we have partnered. Our mission is to produce vehicles that protect and save lives and we are committed to ensuring that those vehicles are available to protect our troops in a timely manner.”
Conference Call information:
Force Protection will host a conference call to discuss results for the fourth quarter and year ended December 31, 2006 on Wednesday, March 21 at 11:00 am EDT. The call can be heard live by dialing 800-257-1836 (domestic) or 303-262-2211 (international), or via the Internet at http://www.forceprotection.net. For those who cannot listen to the live broadcast, the audio replay will be available until Tuesday, March 27th by dialing 800-405-2236 (domestic) or 303-590-3000 (international) and entering the replay passcode of 11086707.
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