UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 3, 2007
DHB INDUSTRIES, INC.
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(Exact name of registrant as specified in its charter)
Delaware 001-13112 11-3129361
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(State of Incorporation) (Commission File Number) (IRS Employer
Identification Number)
2102 SW 2nd Street, Pompano Beach, Florida 33069
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(Address of principal executive office) (Zip Code)
(954) 630-0900
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(Registrant's telephone number, including area code)
Not Applicable
______________________________________________
(Former Address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
ITEM 8.01 OTHER EVENTS.
The Company announced that the United States District Court, Eastern
District of New York, had granted the plaintiffs' motion for preliminary
approval of the settlements entered into in connection with the securities class
action against the Company and certain individual defendants, as well as the
related shareholder derivative action. Under the settlement documents, the
plaintiff class consists of all persons who purchased or otherwise acquired DHB
shares during the period from November 18, 2003 through November 30, 2006.
After notices of the settlement are mailed and published, the Court will
hold a hearing to consider and determine whether to grant final approval of the
settlement. The court has scheduled the hearing for October 5, 2007.
The Company also provided an update to its January 2007 financial
disclosure. For the six months ending on June 30, 2007, the Company received
approximately $191 million in cash receipts (a non-GAAP measure consisting
principally of collections of trade accounts receivable, but also certain other
operating and non-operating cash receipts). The majority of the cash receipts
relate to shipments under Military and Domestic contracts. Cash receipts and
liquidity requirements vary during the year based on orders and shipments, and
orders under US Military contracts may become less active near the change in the
Federal fiscal year in October.
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).
The foregoing announcements were disclosed by the Company in a press
release on July 9, 2007.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits
99.1 Press Release of the Company, dated July 9, 2007.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
DHB INDUSTRIES, INC.
By: /s/ THOMAS CANFIELD
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Thomas Canfield,
General Counsel & Secretary
Dated: July 9, 2007
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Exhibit Index
99.1 Press Release, July 9, 2007.
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