Force Protection Announces Engagement of Grant Thornton LLP As Its Independent Registered Public Accounting Firm
Force Protection, Inc. (NASDAQ:FRPT) today announced that on April 10, 2008, the Company’s Audit Committee engaged Grant Thornton LLP as the Company’s new independent registered public accounting firm for the fiscal year ended December 31, 2007 and the fiscal year ending December 31, 2008 effective immediately. During the Company’s two most recent fiscal years and the period through April 10, 2008, the Company did not consult Grant Thornton LLP regarding any matters as described in Item 304(a)(2) of Regulation S-K.
Michael Moody, Chairman and Chief Executive Officer of Force Protection, commented, “We are very pleased to have retained a nationally recognized and highly capable auditor. As the Company takes steps to improve our financial reporting and controls, we look forward to developing a solid working relationship with Grant Thornton.”
About Force Protection, Inc.
Force Protection, Inc. is a leading American designer, developer and manufacturer of life saving survivability equipment, predominantly ballistic- and blast-protected wheeled vehicles currently deployed by the U.S. military and its allies to support armed forces and security personnel in conflict zones. The Company’s specialty vehicles, the Cougar and the Buffalo, and the Cheetah, are designed specifically for reconnaissance, forward command and control, and urban operations and to protect their occupants from landmines, hostile fire, and improvised explosive devices (IEDs, commonly referred to as roadside bombs). The Company is one of the original developers and primary providers of vehicles for the U.S. military’s Mine Resistant Ambush Protected, or MRAP, vehicle program.
For more information on Force Protection and its vehicles, visit www.forceprotection.net.
About Grant Thornton LLP
Grant Thornton LLP is the U.S. member firm of Grant Thornton International Ltd, one of the six global accounting, tax and business advisory organizations, with member firms in over 80 countries, and 50 offices in the United States.
Safe Harbor Language
This press release may contain forward-looking statements, including statements about its independent registered public accounting firm. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on beliefs and assumptions by Force Protection’s management, and on information currently available to management. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update any of them publicly in light of new information or future events. A number of important factors could cause actual result to differ materially from those contained in any forward-looking statements. These statements involve a number of risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. These risks and uncertainties include, but are not limited to, potential claims or liability that could arise as a result of the Company’s restatement of its financial statements; our ability to identify and remedy internal control weaknesses and deficiencies; our ability to effectively manage the risks in our business; the reaction of the marketplace to the foregoing; and any further errors in our accounting that we may find which could cause us to restate our financial statements for additional periods; and other risk factors and cautionary statements listed in the Company’s periodic reports filed with the Securities and Exchange Commission, including the risks set forth in the Company’s Form 10-Q for the quarter ended September 30, 2007.