Defense Industries International Announces Delay in Filing of Form 10-QSB Thursday May 15, 9:32 am ET
ASHKELON, Israel--(BUSINESS WIRE)--May 15, 2003--Defense Industries International, Inc. (OTCBB:DFNS - News), a leading manufacturer and global provider of personal military and civilian protective equipment and supplies, announced today that its financial results for the first quarter ended March 31, 2003, will be delayed beyond the prescribed deadline of May 15, 2003.
The Company has filed form 12b-25 with the Securities and Exchange Commission, informing them of the delay.
The Company stated that the delay in filing of its quarterly report on form 10-QSB is the result of changes in the responsibilities of its auditors under the guidelines of the Sarbanes Oxley Act. These changes in auditors' responsibilities prevented the timely completion of the review of the Company's financial statements for the first quarter by Defense Industries' independent auditors.
About Defense Industries International, Inc.
Defense Industries International, Inc. ("Defense Industries") (www.defenseindustries.net) is a leading manufacturer and global provider of personal military and civilian protective equipment and supplies. Defense Industries' subsidiary, Export Erez Ltd., was formed and registered in 1983. Defense Industries' main products include body armor, bomb disposal suits and bullet-resistant vests and jackets; ballistic wall covers, helmets, plates and one-way protective windows; personal military equipment, battle pouch units and combat harness units; dry storage units, liquid logistics, tents and vehicle covers; and winter suits, sleeping bags and backpacks.
Defense Industries' products are used by military, law enforcement, border patrol enforcement and other special security forces, corporations, non-governmental organizations and individuals throughout the world. Customers include the Israel Defense Forces, the North Atlantic Treaty Organization (NATO), the United Nations Peacekeeping Forces and other U.N. organizations.
Defense Industries manufactures its own products, thereby enabling it to offer highly competitive pricing and to fulfill product orders on a rapid and efficient basis. Its manufacturing facilities meet American EQNET and international ISO 9002 standards. Quality control in the Company's manufacturing facilities is performed according to ISO 9002; MIL.STD.105D; MIL-I-45208A (for the U.S. Armed Forces); AQAP (for the German Armed Forces and NATO); and the National Institute of Justice (N.I.J.).
Defense Industries' strategic objective is to be the leading global provider of personal military and civilian protective equipment and supplies. Defense Industries intends to realize its strategic objective by, amongst other methods, selectively pursuing strategic acquisitions that enhance its product lines and geographic presence in an effort to consolidate its highly fragmented industry and to create a more diverse and global reach in its marketplace.
-------------------------
it *is* IMO a cheap stock at the moment... with perhaps good reason as to why <g>
still holding according to my game plan but not suggesting others do so until the light at the end of the tunnel is distinguishable as something beyond an on coming train!
Date: Mon, 19 May 2003 13:53:34 -0400 From: "Lee Roth" <Lroth@kcsa.com> To: kauaipi2001@yahoo.com Subject: Re: follow up; 2 DFNS Qs for you... and "NIJ standards" (body armor) recently sent you
Greetings kauaipi, Just wanted to pass along word that the website at www.defenseindustries.net is back online. As mentioned, please bear in mind that this is more or less temporary, as the feeling is that "something is better than nothing" and essentially serves as a place holder while we work on a more comprehensive web presence with the Company. Regards, Lee ------------------ The company has a varied product offering and suggest if anyone is interested, they check out the company's temporary web site to see for themselves...
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' subsidiary, Export Erez Ltd., was formed and registered in 1983. Defense Industries' main products include body armor, bomb disposal suits and bullet-resistant vests and jackets; ballistic wall covers, helmets, plates and one-way protective windows; personal military equipment, battle pouch units and combat harness units; dry storage units, liquid logistics, tents and vehicle covers; and winter suits, sleeping bags and backpacks.
Defense Industries' products are used by military, law enforcement, border patrol enforcement and other special security forces, corporations, non-governmental organizations and individuals throughout the world. Customers include the Israel Defense Forces, the North Atlantic Treaty Organization (NATO), the United Nations Peacekeeping Forces and other U.N. organizations.
Defense Industries manufactures its own products, thereby enabling it to offer highly competitive pricing and to fulfill product orders on a rapid and efficient basis. Its manufacturing facilities meet American EQNET and international ISO 9002 standards. Quality control in the Company's manufacturing facilities is performed according to ISO 9002; MIL.STD.105D; MIL-I-45208A (for the U.S. Armed Forces); AQAP (for the German Armed Forces and NATO); and the National Institute of Justice (N.I.J.).
Certainly not the best web site lol ...but that is not the product itself that supports the site...
I like the business strategy taken from their 10K;
STRATEGY
Our strategy is to capitalize on our significant research and development capabilities and the strength of our brand identity and achieve greater economies of scale. With the increase in international tensions, we believe the demand for our products will continue to grow. We expect to address this growth by offering a comprehensive array of high quality branded security products to meet the needs of our customers around the world. We intend to enhance our leadership position through additional strategic acquisitions by creating a broad portfolio of products and services to satisfy all of our customers' increasingly complex security products needs. The following elements define our growth strategy.
o CAPITALIZE ON EXPOSURE TO MILITARY PROBLEMS. We believe the events of September 11, 2001, the subsequent "War on Terrorism", the increasing likelihood of military conflicts abroad, and recent actual events in saving lives through the performance of armor systems, are all likely to result in additional interest in our products.
o EXPAND DISTRIBUTION AND NETWORKS AND PRODUCT OFFERINGS. We expect to continue to leverage our distribution network by expanding our range of branded law enforcement equipment through the acquisition of niche defensive security products manufacturers, and by investing in the development of new and enhanced products which complement our existing offerings. A broader product line will strengthen our relationships with distributors and enhance our brand appeal with military, law enforcement and other end users.
o PURSUE STRATEGIC ACQUISITIONS. We selectively pursue strategic acquisitions that complement and/or expand our product offerings, provide access to new geographic markets, and provide additional distribution channels and new customer relations. --------------------
As I have stated, they have a good share in the local business and that should continue to allow them to play to their strengths as the uncertainties become less a concern and purse strings are once again opened and they seem to have markets to grow;
Our share of the Israeli defense market for applicable products in 2002 was approximately 45% of a total market of $10,000,000. We have one major competitor in this market: Rabintex with approximately 20% of the market.
Our share of the Israeli civilian market for applicable products in 2002 was approximately 9% of a total market of $25,000,000, with 41% controlled by other Israeli companies and 50% made up by imported goods.
Internationally, our competitors in the defense market include companies such as Point Blank, Safari Land of Ontario, California and A.B.A. in the United States, L.B.A. in England, Indigo in Spain, Systema Compositi in Italy, Hellenic Arms Industries in Greece and Barman in Sweden. In each case, the competing manufacturers specialize in a more limited product line than does Defense Industries.
In the civilian market, we are aware of approximately 20 companies manufacturing similar products. A number of major manufacturers with resources and reputations larger than those of Defense Industries compete for the same market. We intend to market its products over the Internet as well as through a network of distributors.
It is also important to me that they hold patent and trademark *assets*
PATENTS AND TRADEMARKS
We hold several patents from various countries for our ballistic wall coverings, dry storage systems and mine protective shoes. Our subsidiary Achidatex holds several of our patents. ----------------------------------- My present concern is over their "late" filing...
ASHKELON, Israel--(BUSINESS WIRE)--May 15, 2003--Defense Industries International, Inc. (OTCBB:DFNS - News), a leading manufacturer and global provider of personal military and civilian protective equipment and supplies, announced today that its financial results for the first quarter ended March 31, 2003, will be delayed beyond the prescribed deadline of May 15, 2003
The Company stated that the delay in filing of its quarterly report on form 10-QSB is the result of changes in the responsibilities of its auditors under the guidelines of the Sarbanes Oxley Act. These changes in auditors' responsibilities prevented the timely completion of the review of the Company's financial statements for the first quarter by Defense Industries' independent auditors.
Mr. Ed~DFNS.ob~orders on "hold" looks to be longer than I would have hoped for ...but is being offset with "export" sales that are up 580% ...IMO you did well by not jumping in (short term) but I still like it and am holding for the longer term! I suggest you continue to keep it on your watch list.
From their 10Qsb filing "We believe that the decrease in sales to our local market (see below) is due to the recession in Israel. We do not expect that our sales in Israel will increase until the government implements a new economic plan and not before the third quarter of 2003 at the earliest.
DEF INDUS INTL (OTC BB:DFNS.OB) Last Trade May 23 · 0.236 Change -0.014 (-5.60%) Prev Cls 0.25 Open 0.23 Volume 41,000 Day's Range 0.23 - 0.25 Bid 0.22 Ask 0.25 P/E 25.00 Avg Vol 31,531 52-wk Range 0.19 - 2.80 ================================================ Press Release Source: Defense Industries International, Inc.
Defense Industries International Reports First Quarter 2003 Financial Results Thursday May 22, 8:04 am ET
ASHKELON, Israel--(BUSINESS WIRE)--May 22, 2003--Defense Industries International, Inc. (OTCBB: DFNS), a leading manufacturer and global provider of personal military and civilian protective equipment and supplies, reported financial results for the first quarter ended March 31, 2003 in its quarterly report on form 10-QSB, filed with the Securities and Exchange Commission on May 20, 2003.
For the three months ended March 31, 2003, revenues increased approximately 20.8% to $3.17 million, compared with $2.62 million reported for the first quarter of 2002. Local Israeli sales accounted for approximately $1.42 million, compared with $2.36 million to the Israeli market in 2002. Net sales from exports increased approximately 580%, from $256,798 in the first quarter of 2002 to $1,747,865 in the first quarter of 2003. The Company attributed the increase in export sales to the successful implementation of its concentrated marketing effort aimed at building increased global awareness and brand identification for the Company and its products. Gross profit for the quarter was $894,332, compared with gross profit of $1.02 million for the first quarter of 2002.
Operating income for the quarter was $382,308, compared with $692,707 reported for the three months ended March 31, 2002. Gross margins for the quarter declined to 28.2% from gross margins of 38.8% in the first quarter of 2002.
The Company noted that the decrease in operating income and gross marginswas the result of increased overseas sales which have higher costs, thereby lowering profit margins. However, the Company does expect profit margins from future export sales to increase as a result of a change in the mixture of products to be exported.
Net income for the first quarter of 2003 was $174,112 or $0.01 per share based on 25,350,000 basic and diluted shares outstanding, compared with $379,282 or $0.02 per share based on 23,311,111 basic and diluted shares outstanding for the period ended March 31, 2002.
Commenting on the results, Joseph Fostbinder, CEO of Defense Industries said, "The first quarter of 2003 saw the continuation of our efforts to transform Defense Industries and grow our business. While our local sales declined, both in the military and civilian markets as a result of continued political and economic uncertainty within the Israeli market, we saw a dramatic increase in export sales, which more than offset the reduced sales to the local market. Since last year, we have invested significant time and resources in our efforts to build global awareness for Defense Industries and feel that the success of these efforts is evidenced by the nearly 600% year over year increase in export sales for the first quarter. This belief is further strengthened by the fact that our export revenues for the first quarter of 2003 are nearly double the level of the first half of 2002. We continue to focus heavily on these initiatives and are confident in the Company's prospects for future growth."
About Defense Industries International, Inc.
Defense Industries International, Inc. ("Defense Industries") (www.defenseindustries.net <http://www.defenseindustries.net>) is a leading manufacturer and global provider of personal military and civilian protective equipment and supplies. The Company's products are used by military, law enforcement, border patrol enforcement and other special security forces, as well as corporations, non-governmental organizations and individuals throughout the world. Customers include the Israel Defense Forces, the North Atlantic Treaty Organization (NATO), the United Nations Peacekeeping Forces and other U.N. organizations.
News 
Market Data 
Discover 
