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2001 Press Releases
December 5, 2001
DHB Receives $11+ Million Contract for Utility Coveralls from U.S. Military
— Exclusive Contract Expands DHB Product Lines to Meet Military Needs —
Carle Place, NY - DHB Industries, Inc.[BSE:DHB ] [OTC:DHBT] today announced that, through the Point Blank Body Armor subsidiary of its Armor Group division, it received an $11+ million contract for utility coveralls from the U.S. Military.
Point Blank Body Armor (PBBA) was awarded the four-year "Utility Coverall" contract by the Defense Supply Center Philadelphia (DSCP). The first purchase order received under the new contract is valued at $1.9 million. DSCP is one of several purchasing arms of the Defense Logistics Agency, the Military's sole procurement facility.
According to David Brooks, DHB Industries CEO, "This is an excellent opportunity for DHB Industries." Brooks continued, "Winning this contract effectively demonstrates our ability to meet a widening variety of our customer's needs and specifically this contract increases our overall value to the U.S. Military."
DHB Industries is the parent company of DHB Armor Group and DHB Sports Group. DHB Armor Group consists of three subsidiaries -- Point Blank Body Armor, Inc., Point Blank International, S.A., and Protective Apparel Corporation of America (PACA) -- focused on the design, manufacture, and distribution of bullet resistant and protective body armor for military, law enforcement, and corrections in the U.S. and worldwide. The leading contractor in the protective body armor industry, DHB Armor Group's customers include the U.S. Marine Corps., the U.S. Army, the U.S. Navy, the U.S. Coast Guard, the U.S. Marshals, the INS, the FBI, the U.S. Secret Service, NATO, and the NYPD. DHB Sports Group -- NDL, Grid, FLEX-AID, MagneSystems, and DBS -- produces and markets a comprehensive line of athletic supports and braces, orthopedic and magnetic therapy products which are merchandised through national superstore chains including Target and Wal-Mart, as well as private label distributors such as Meijer, Amerisource, Cardinal Health, and CDMA. DHB maintains facilities in Carle Place, NY, Oakland Park, FL, Jacksboro, TN, and Liege, Belgium.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The Statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission.
November 13, 2001
DHB Receives $18 Million in Purchase Orders from U.S. Military
Carle Place, NY - DHB Industries, Inc. [BSE:DHB ] [OTC:DHBT] today announced that, through its Armor Group, it received $18 million in Interceptor vest purchase orders from the U.S. Military. These orders represent continuing fulfillment of the Interceptor contract, which was established in 1998 and runs through 2004. Interceptor orders now total in excess of $118.8 million.
Interceptor was created by DHB Armor Group to replace the traditional Military flak jacket. It was included in Popular Science's "Best of What's New-2000" list for its lighter weight and ability to repel a variety of ballistic threats. Interceptor is the first time the U.S. Military worked with a commercial industry provider on a contract of this magnitude. DHB Armor Group has shipped in excess of 180,000 vests under this contract.
According to David Brooks, DHB Industries CEO, "Interceptor, which began shipping in late 1999, continues to exceed the Military's requirements and expectations, both for its technological advances and for its 100% on time delivery and zero defect record."
DHB Industries is the parent company of DHB Armor Group and DHB Sports Group. DHB Armor Group consists of three subsidiaries -- Point Blank Body Armor, Inc., Point Blank International, S.A., and Protective Apparel Corporation of America (PACA) -- focused on the design, manufacture, and distribution of bullet resistant and protective body armor for military, law enforcement, and corrections in the U.S. and worldwide. The leading contractor in the protective body armor industry, DHB Armor Group's customers include the U.S. Marine Corps., the U.S. Army, the U.S. Navy, the U.S. Coast Guard, the U.S. Marshals, the INS, the FBI, the U.S. Secret Service, NATO, and the NYPD. DHB Sports Group -- NDL, Grid, FLEX-AID, MagneSystems, and DBS -- produces and markets a comprehensive line of athletic supports and braces, orthopedic and magnetic therapy products which are merchandised through national superstore chains including Target and Wal-Mart, as well as private label distributors such as Meijer, Amerisource, Cardinal Health, and CDMA. DHB maintains facilities in Carle Place, NY, Oakland Park, FL, Jacksboro, TN, and Liege, Belgium.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The Statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission.
October 25, 2001
DHB Approved for Trading on Boston Stock Exchange
— Company to Pursue National Exchange Listing —
Carle Place, NY - DHB Industries, Inc. [BSE:DHB ] [OTC:DHBT] today announced that it has been approved for trading on the Boston Stock Exchange as of Thursday, October 25, 2001. DHB has been trading on the OTC Bulletin Board under the symbol DHB.
"Approval to trade on the Boston Stock Exchange validates our tremendous progress over the past two years," stated David H. Brooks, chief executive officer and chairman of DHB Industries. "We currently have a significant backlog of orders resulting primarily from record use of body armor by Federal, State, and Local law enforcement agencies as well as domestic and overseas military forces." Brooks concluded, "This position of strength enables us to confidently pursue listing on one of the national exchanges."
Earlier this week DHB announced record results for its third quarter ended September 30, 2001. These results mark DHB 's seventh consecutive quarter of significant year-over-year increases in top- and bottom-line growth. Revenues for DHB 's third quarter ended September 30, 2001 rose 29% to $24.0 million from $18.6 million for the same period last year. Net income increased 39% to $2.8 million from $2.0 million for the third quarter of 2000. Earnings per share increased to $0.09 ($0.08 diluted) from $0.065 ($0.064 diluted) for the third quarter a year ago. For the nine-months ended September 30, 2001, revenues grew 40% to $67.7 million from $48.3 million in 2000. Net income for the same period increased 68% to $6.1 million from $3.6 million for the same period a year ago. Earnings per share rose to $0.20 ($0.17 diluted) from $0.042 ($0.042 diluted) for the third quarter of 2000.
DHB Industries is the parent company of DHB Armor Group and DHB Sports Group. DHB Armor Group consists of three subsidiaries -- Point Blank Body Armor, Inc., Point Blank International, S.A., and Protective Apparel Corporation of America (PACA) -- focused on the design, manufacture, and distribution of bullet resistant and protective body armor for military, law enforcement, and corrections in the U.S. and worldwide. The leading contractor in the protective body armor industry, DHB Armor Group's customers include the U.S. Marine Corps., the U.S. Army, the U.S. Navy, the U.S. Coast Guard, the U.S. Marshals, the INS, the FBI, the U.S. Secret Service, NATO, and the NYPD. DHB Sports Group -- NDL, Grid, FLEX-AID, MagneSystems, and DBS -- produces and markets a comprehensive line of athletic supports and braces, orthopedic and magnetic therapy products which are merchandised through national superstore chains including Target and Wal-Mart, as well as private label distributors such as Meijer, Amerisource, Cardinal Health, and CDMA. DHB maintains facilities in Carle Place, NY, Oakland Park, FL, Jacksboro, TN, and Liege, Belgium.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The Statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission.
September 26, 2001
DHB Industries Receives $18.8 Million Credit Facility from LaSalle Business Credit, Inc.
CARLE PLACE, NY -- DHB Industries, Inc. [OTC:DHBT] today announced an agreement with LaSalle Business Credit, Inc. (an ABN AMRO Bank, N.V. affiliate) whereby LaSalle Business Credit will extend an $18.8 million credit facility to DHB Industries (DHB ).
According to the terms of the agreement, DHB will use these funds to meet increased demands for capital generated during a period of rapid growth, which has accelerated in response to the events of September 11th. Among other uses, DHB will use the funds made available by this credit facility to partially refinance expensive debt, expand its facilities, and purchase equipment.
According to David Brooks, DHB 's CEO and chairman of the board, "Receiving support from a prominent financial institution such as LaSalle soundly validates our business model. With these funds we are able to improve our income stream, strengthen our balance sheet, and more effectively grow our businesses." Brooks continued, "Given the leadership position of both our Armor Group and Sports Group, we are now in a superb position to rapidly advance our strategic growth plans by supporting and expanding our customer bases in the U.S. and worldwide."
DHB Industries is the parent company of DHB Armor Group and DHB Sports Group. DHB Armor Group consists of three subsidiaries -- Point Blank Body Armor, Inc., Point Blank International, S.A., and Protective Apparel Corporation of America (PACA) -- focused on the design, manufacture, and distribution of bullet resistant and protective body armor for military, law enforcement, and corrections in the U.S. and worldwide. The leading contractor in the protective body armor industry, DHB Armor Group's customers include the U.S. Marine Corps., the U.S. Army, the U.S. Navy, the U.S. Coast Guard, the U.S. Marshals, the INS, the FBI, the U.S. Secret Service, NATO, and the NYPD. DHB Sports Group -- NDL, Grid, FLEX-AID, MagneSystems, and DBS -- produces and markets a comprehensive line of athletic supports and braces, orthopedic and magnetic therapy products which are merchandised through national superstore chains including Target and Wal-Mart, as well as private label distributors such as Meijer, Amerisource, Cardinal Health, and CDMA. DHB maintains facilities in Carle Place, NY, Oakland Park, FL, Jacksboro, TN, and Liege, Belgium.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The Statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission.
July 25, 2001
DHB Capital Group Announces Name Change
CARLE PLACE, N.Y. -- DHB Capital Group (OTC Bulletin Board: DHB) today announced that, at a meeting last week, DHB Capital Group's stockholders approved a change in the name of the Corporation to DHB Industries, Inc. The change in name was effective yesterday, upon filing with the Delaware Secretary of State. The Board feels that the new name more accurately reflects the nature of the Corporation's businesses and avoids any confusion associated with the perception that the Corporation is a venture capital or other financial service business.
The Corporation's ticker symbol "DHB" will remain unchanged.
DHB Capital Group, Inc. is the parent company of two operating groups, which include:
- The Armor Group, consisting of four individual subsidiaries focused on the design, manufacture and international distribution of bullet resistant and protective body armor for military, law enforcement and corrections. Contracts with Government agencies including, among others, The U.S. Marine Corps., The U.S. Army, The U.S. Secret Service, The FBI, New York City Police Department, Los Angeles Police Department & SWAT makes the Armor Group the leader in their industry.
- The Sports Group, which produces and markets a comprehensive line of athletic supports and braces, orthopedic and magnetic therapy products merchandises through national superstore chains including Target, Wal-Mart, and Rite-Aid and has recently added over 5,500 points of distribution in its agreement with CDMA.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The Statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission.
March 7, 2001
DHB Capital Group Receives $1.5 Million Approval from U.S. Army
PACA Body Armor Subsidiary Begins Phase III Production of $11 Million Countermine Ensemble
Carle Place, New York -- DHB Capital Group (OTC:DHBT), today announced that a subsidiary of the Company's Armor Group, Protective Apparel Corporation of America (PACA Body Armor, Norris, TN), has received approval from the U.S. Army Robert Morris Acquisition Center, Natick Contracting Division, to proceed with Phase III of the U.S. Army's BASIC P3I Countermine Ensemble Program.
"The U.S. Army Countermine Ensemble is designed to defeat fragmentation from AntiPersonnel (AP) Mines and is used by the U.S. Army Engineers who are charged with the arduous duty of clearing and disposing of land mines," stated Mr. Allen Price, Vice President of Research and Development of DHB Capital Group Inc. "The suit incorporates a state-of-the-art design, integrating unique, ballistic material used only by PACA Body Armor."
"Following successful completion of phases one and two, PACA has proceeded to phase three of a four phase U.S. Army program," stated Sandra Hatfield, Chief Operating Officer of DHB Capital Group Inc. "The U.S. Army Countermine Project is a Pre-Planned Product Improvement Program and as such, there have been over 35 performance, wearability and design modifications incorporated to achieve our current suit configuration since the project's inception at phase one.
"Phase III consists of manufacturing a limited amount of Countermine Ensembles for final approval. After the successful completion of Phase III, a production readiness review will commence. Phase IV (full production) of the U.S. Army Countermine Ensemble is estimated to be valued at nearly $10 million.
DHB Capital Group, Inc. is the parent company of two operating groups, which include:
• The Armor Group, consisting of four individual subsidiaries focused on the design, manufacture and international distribution of bullet resistant and protective body armor for military, law enforcement and corrections. Contracts with Government agencies including, among others, The U.S. Marine Corps., The U.S. Army, The U.S. Secret Service, The FBI, New York City Police Department, Los Angeles Police Department & SWAT makes the Armor Group the leader in their industry.
• The Sports Group, which produces and markets a comprehensive line of athletic supports and braces, orthopedic and magnetic therapy products merchandises through national superstore chains including Target, Wal-Mart, and Rite-Aid and has recently added over 5,500 points of distribution in its agreement with CDMA.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The Statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission.
February 22, 2001
DHB Capital Group's Interceptor Contract Soars to $100+ Million with Additional $20 Million Order
Carle Place, New York -- DHB Capital Group (OTC:DHBT), parent company for Point Blank Body Armor, Inc. (Oakland Park, FL), the nation's leading manufacturer of technologically superior body armor for military, police and corrections use, today announced $20+ Million in additional delivery orders from the U.S. Army Robert Morris Acquisition Center, Natick Contracting Division, for Point Blank's "Interceptor" Outer Tactical Vest (OTV) for the U.S. Marines and Army. The 33 delivery orders received to date for the Interceptor now total more than $100 million.
"Point Blank's performance on the Interceptor OTV has allowed this program to reach a level that has clearly exceeded all expectations of the United States Marine Corps," stated Major Gabe Patricio, Marine Corps Liason at MARCORSYSCOM, Quantico, Virginia, "Their forward thinking has led to the expeditious incorporation of many enhancements to the product. The quality, workmanship, delivery, performance and customer service has been superior," he concluded.
"The Point Blank Body Armor vests meet all U.S. Army operational requirements," stated LT Colonel Steve Pinter, Product Manager at Fort Belvoir, Virginia, "We are fortunate to have a contractor who delivers a quality product on time for our Soldiers," he concluded.
"This is another vote of confidence that our Company has the key technology and manufacturing capabilities in advanced body armor to support the delivery requirements and efforts of the U.S. Military Forces," stated Sandra Hatfield, Chief Operating Officer of DHB Capital Group Inc. "These delivery orders bring our backlog to more than $63.5 million, representing yet another critical milestone in the ongoing growth and development of our Company."
DHB Capital Group, Inc. is the parent company of two operating groups, which include:
• The Armor Group, consisting of four individual subsidiaries focused on the design, manufacture and international distribution of bullet resistant and protective body armor for military, law enforcement and corrections. Contracts with Government agencies including, among others, The U.S. Marine Corps., The U.S. Army, The U.S. Secret Service, The FBI, New York City Police Department, Los Angeles Police Department & SWAT makes the Armor Group the leader in their industry.
• The Sports Group, which produces and markets a comprehensive line of athletic supports and braces, orthopedic and magnetic therapy products merchandises through national superstore chains including Target, Wal-Mart, and Rite-Aid and has recently added over 5,500 points of distribution in its agreement with CDMA.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The Statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission.
January 24, 2001
DHB Capital Group Names Sandra Hatfield Chief Operating Officer
Carle Place, New York -- DHB Capital Group Inc. (OTC: DHB) today announced that it has named Sandra Hatfield as its Chief Operating Officer.
Mrs. Hatfield will lead both the Armor and the Sports Groups of DHB Capital Group Inc. "Mrs. Hatfield has been a tremendous asset to our company in a broad range of activities including strategic planning, management operations and business development," stated Mr. David H. Brooks, Chairman of the Board of DHB Capital Group Inc., "She has demonstrated a level of dedication, commitment and professional expertise that has made her an invaluable resource to our Company. At a time when our companies are experiencing rapid growth, we are extremely confident that her knowledge and experience will prove immensely beneficial to both the Company and it's shareholders," Mr. Brooks concluded.
Mrs. Hatfield served as President of Point Blank Body Armor, Inc., a subsidiary of DHB Capital Group, Inc. since October 1996. For more than five years prior thereto, she was the Vice President of Production at Protective Apparel Corporation, also a subsidiary of DHB Capital Group, Inc. Mrs. Hatfield has more than twenty-five years experience in all aspects of the apparel industry, with specialties in quality assurance and control as well as manufacturing, engineering and job flow systems.
DHB Capital Group, Inc. is the parent company of two operating groups, which include:
• The Armor Group, consisting of four individual subsidiaries focused on the design, manufacture and international distribution of bullet resistant and protective body armor for military, law enforcement and corrections. Contracts with Government agencies including, among others, The U.S. Marine Corps., The U.S. Army, The U.S. Secret Service, The FBI, New York City Police Department, Los Angeles Police Department & SWAT makes the Armor Group the leader in their industry.
• The Sports Group, which produces and markets a comprehensive line of athletic supports and braces, orthopedic and magnetic therapy products merchandises through national superstore chains including Target, Wal-Mart, and Rite-Aid and has recently added over 5,500 points of distribution in its agreement with CDMA.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The Statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission.
January 19, 2001
DHB Capital Group Strengthens Executive Team
— Names Edward C. Lavigne VP Former U.S. Army Contracting Officer Recipient of Numerous Commendations —
Carle Place, New York -- DHB Capital Group Inc. today bolstered its executive team with the addition of Edward C. Lavigne as Vice President of a wholly owned subsidiary of DHB Capital Group Inc. (OTC:DHBT), NDL Products Inc., which is based in Oakland Park, FL.
Mr. Lavigne is a former Contracting Officer for the U.S. Army Material Command Acquisition Center, Natick, Massachusetts and Team Leader for the United States Marine Corps (USMC) acquisitions. He received numerous commendations from the USMC and United States Army for his excellent leadership, negotiation, communication and contract execution skills.
"Ed Lavigne is one of those exceptional individuals that can literally catalyze an organization and focus its collective energies on the common goal," stated Mr. David H. Brooks, Chairman of the Board of DHB Capital Group Inc. "We are extremely pleased that he has chosen to apply his talents to help drive and manage the rapid growth we are experiencing. He understands the role of strategic relationships in our business model and his years of acquisition experience can only complement the initiatives we have recently undertaken," Mr. Brooks concluded.
Mr. Lavigne served in the United States Army as a military policeman. He possesses a Bachelor of Science from the University of Massachusetts and an MBA from Western New England College.
DHB Capital Group, Inc. is the parent company of two operating groups, which include:
• The Armor Group, consisting of four individual subsidiaries focused on the design, manufacture and international distribution of bullet resistant and protective body armor for military, law enforcement and corrections. Contracts with Government agencies including, among others, The U.S. Marine Corps., The U.S. Army, The U.S. Secret Service, The FBI, New York City Police Department, Los Angeles Police Department & SWAT makes the Armor Group the leader in their industry.
• The Sports Group, which produces and markets a comprehensive line of athletic supports and braces, orthopedic and magnetic therapy products merchandises through national superstore chains including Target, Wal-Mart, and Rite-Aid and has recently added over 5,500 points of distribution in its agreement with CDMA.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The Statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission.
January 4, 2001
DHB Capital Group Inc. Receives $6.3 Million Military Order From U.S. Army
— Total Interceptor Orders Now At More Than $80 Million —
Carle Place, New York -- DHB Capital Group (OTC:DHBT) announced today that Point Blank Body Armor, Inc. has received an additional purchase order from the U.S. Army Material Command Acquisition Center, Natick Contracting Division, in excess of $6.3 million for the Interceptor Outer Tactical Vest for the U.S. Army.
"The United States Army has been and continues to be a highly valued customer of Point Blank Body Armor," stated Sandra Hatfield, President of Point Blank Body Armor, Inc., "We are very pleased to be able to continue to support their aggressive needs as they plan and provide for the protection of our soldiers in any future conflicts."
"We were expecting this order as well as others," stated Mr. David H. Brooks, Chairman of the Board of DHB Capital Group, Inc, "We have some superb technology and getting it to each and every soldier in the military is one of our priorities. This purchase order is just part of the continuous growth that you will see from the DHB Capital Group in the near future."
DHB Capital Group, Inc. is the parent company of two operating groups, which include:
• The Armor Group, consisting of four individual subsidiaries focused on the design, manufacture and international distribution of bullet resistant and protective body armor for military, law enforcement and corrections. Contracts with Government agencies including, among others, The U.S. Marine Corps., The U.S. Army, The U.S. Secret Service, The FBI, New York City Police Department, Los Angeles Police Department & SWAT makes the Armor Group the leader in their industry.
• The Sports Group, which produces and markets a comprehensive line of athletic supports and braces, orthopedic and magnetic therapy products merchandises through national superstore chains including Target, Wal-Mart, and Rite-Aid and has recently added over 5,500 points of distribution in its agreement with CDMA.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The Statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission.
Point Blank Solutions, Inc.
2102 SW 2nd Street, Pompano Beach, FL 33069
Nationwide: 1-800-413-5155 • Tel: 954-630-0900 • Fax: 954-630-9225
© 2007 Point Blank Solutions, Inc. All Rights Reserved.