Defense Industries International, Inc. (OTCBB:DFNS), a leading manufacturer and global provider of personal military and civilian protective equipment and supplies, today announced that on January 16, 2008 it filed amendments to its reports on Form 10-KSB/A for the year ended December 31, 2006 and Forms 10-QSB/A for the three month period ended March 31, 2007 and for the six month period ended June 30, 2007.
Joseph Postbinder, CEO of Defense Industries said: “I would like to use this opportunity to note that these amendments will not impact our improved results for the nine months ended September 30, 2007. Our revenues for the nine months ended September 30, 2007 increased by $7 million, compared to the same period last year, to $14.2 million, and our gross profit increased by $3.1 to $4.8 millions. Net cash provided by operating activity increased by $3.5 million to $3 million, compared to net cash of $500,000 used in operating activities in the same period last year. We had a net profit of $1.2 million for the nine months ended September 30, 2007, compared to a net loss of $400,000 in the same period last year.”
“In 2007, the Israeli's Defense Ministry's was our major customer and we expect it to continue to be our largest customer in 2008. At the same time, we continue to diligently seek new sales and marketing channels worldwide, while constantly broadening our offerings. Our U.S.-based subsidiary, Own Mills, recently launched a new production line of protective ceramic plates using new technology and machinery. We are witnessing substantial demand for this new product both in the U.S. and worldwide.”
Mr. Postbinder concluded, “I believe that we are well positioned for growth and expansion in our markets and we look ahead optimistically that our share price will in time reflect our company's true value.”
About Defense Industries International, Inc.
Defense Industries International, Inc. is a leading manufacturer and global provider of personal military and civilian protective equipment and supplies. Defense Industries' main products include body armor, bomb disposal suits and bullet-resistant vests and jackets; ballistic wall covers, ceramic armor plates and lightweight armor UHMW-PE plates; personal military equipment, battle pouch units and combat harness units; dry storage units, liquid logistics, tents and vehicle covers; winter suits, sleeping bags and backpacks. The Company's manufacturing facilities meet American EQNET and international ISO 9001 standards. The Company has three principal subsidiaries, Export Erez Ltd., Achidatex Nazareth Elite ltd. and Owen Mills in the USA. For additional information, please visit the Company's web site at www.defense-industries.com.
Safe Harbor Statement
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Certain statements contained in this press release are "forward-looking statements" within the meaning of applicable federal securities laws, including, without limitation, anything relating or referring to future financial results and plans for future business development activities, and are thus prospective. Forward-looking statements are inherently subject to risks and uncertainties some of which cannot be predicted or quantified based on current expectations. Such risks and uncertainties include, without limitation, the risks and uncertainties set forth from time to time in reports filed by the company with the Securities and Exchange Commission. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Consequently, future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements contained herein. The company undertakes no obligation to publicly release updates to these forward-looking statements made to reflect new events or circumstances after the date hereof. Neither the Company nor its agents assume responsibility for the accuracy and completeness of the forward-looking statements.
Contacts:
Ayelet Shaked Shiloni,
972-77-7171-050
1-866-44-786-33
ayelet.shaked@012.net.il
