DHB Industries' Board Authorizes Additional 3 Million Share Repurchase
January 24 2006 - 7:30AM
PR Newswire (US)
WESTBURY, N.Y., Jan. 24 /PRNewswire-FirstCall/ -- DHB Industries
Inc. (AMEX:DHB) today announced a directive from its board
authorizing the Company to purchase an additional 3 million shares
of its common stock in the open market in accordance with
applicable law, from time to time, at its discretion. Previously,
the Company announced that, in accordance with the November 2005
amendment of its Credit Facility with LaSalle Business Credit, the
Company was authorized to repurchase in the open market up to three
million shares of its common stock, provided there was no event of
default at the time of repurchase and that no more than $9 million
of the purchase price was funded through the Credit Facility. The
Company has repurchased approximately 2,090,000 shares in the open
market at an average price of $4.04 without increasing the
outstanding balance of the Company's Credit Facility. Therefore,
the Company can still repurchase approximately 3,910,000 shares in
the open market as long at the amount funded through the Credit
Facility does not exceed $9 million. About DHB Industries Inc. DHB
Industries Inc.'s Armor Group is in the protective body armor
industry. Its highly recognized subsidiaries, Point Blank Body
Armor Inc. (http://www.pointblankarmor.com/) and Protective Apparel
Corporation of America (PACA) (http://www.pacabodyarmor.com/) are
focused on the design, manufacture, and distribution of bullet
resistant body armor for military, law enforcement, and corrections
in the U.S. and worldwide. DHB Armor Group's customers include the
U.S. Army, Air Force, Navy, Marines, Coast Guard, Secret Service,
FBI, DEA, ATF, NATO, U.S. Marshals, the NYC Police Department, the
LA Police Department, and the California Highway Patrol. DHB Sports
Group produces and markets a comprehensive line of athletic
supports and braces which are merchandised through national
superstore chains including Wal-Mart, Walgreen's, and Kerr Drugs as
well as private label distributors such as Meijer, Amerisource,
Cardinal Health, and Chain Drug Marketing Association (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, which are based
largely on the Company's expectations and are subject to various
business risks and uncertainties, certain of which are beyond the
Company's control. Words such as "expects," "anticipates,"
"targets," "goals," "projects," "intends," "plans," "believes,"
"seeks," "estimates," variations of such words, and similar
expressions are intended to identify such forward-looking
statements. These forward-looking statements are only predictions
that speak as of the date hereof and are subject to risks,
uncertainties and assumptions that are difficult to predict.
Therefore, actual results may differ materially and adversely from
those expressed in any forward-looking statements. Factors that
might cause or contribute to such differences include, but are not
limited to, those discussed in our reports on file with the
Securities and Exchange Commission. You are cautioned not to place
undue reliance on these forward- looking statements that speak only
as of the date hereof. We undertake no obligation to revise or
update publicly any forward-looking statements to reflect any
change in the expectations of our management with regard thereto or
any change in events, conditions, or circumstances on which any
such statements are based. Company Contact: Dawn Schlegel, CFO
516/997-1155 FCMN Contact: dschlegel@dhbt.com DATASOURCE: DHB
Industries Inc. CONTACT: Dawn Schlegel, CFO of DHB Industries Inc.,
+1-516-997-1155, or Web site: http://www.dhbindustries.com/
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