DHB Inc announces court approval of class action settlement
10 Jul '07
3 min read
As of June 30, 2007, the Company had approximately $7 million outstanding under its credit facility. During the first six months of 2007, debt outstanding averaged approximately $6 million. Outstanding amounts fluctuate daily based on collections from customers and the timing of payments for goods and services.
As of June 30, 2007, the Company had 51,027,535 shares of its common stock issued and outstanding.
Additionally, the Company reaffirmed that it remains on track to file audited annual financial results through 2006 by the end of the third quarter of 2007. The Company is working with its independent auditors to complete the financial statements required by the Securities and Exchange Commission (SEC).
Larry Ellis, President and CEO stated, "While we are aggressively pursuing new opportunities, our business remains healthy across all customer segments. The major portion of our business remains with the Defense Department, but we have seen a proportionate increase in domestic law enforcement business compared to prior years. Our approximately 1,200 employees continue to manufacture high quality products, and their dedication has enabled us to improve operating efficiencies and to consistently meet production deadlines and standards."
Ellis continued, "We also continue to improve the systems and controls throughout the organization that are vital to our long-term growth. Overall, we have confidence in our Company's future and remain focused on enhancing shareholder value."
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