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Last $0.63 USD
Change Today -0.05 / -7.35%
Volume 1.8K
FORD On Other Exchanges
Symbol
Exchange
NASDAQ CM
As of 5:20 PM 05/28/15 All times are local (Market data is delayed by at least 15 minutes).

forward industries inc (FORD) Snapshot

Open
$0.63
Previous Close
$0.68
Day High
$0.64
Day Low
$0.63
52 Week High
09/25/14 - $1.73
52 Week Low
04/29/15 - $0.58
Market Cap
5.4M
Average Volume 10 Days
6.4K
EPS TTM
$-0.39
Shares Outstanding
8.6M
EX-Date
03/4/85
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for FORWARD INDUSTRIES INC (FORD)

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forward industries inc (FORD) Details

Forward Industries, Inc., together with its subsidiaries, designs, markets, and distributes carry and protective solutions primarily for hand held electronic devices. The company offers carrying cases and other accessories for medical monitoring and diagnostic kits; and other portable electronic and non-electronic products, such as sporting and recreational products, bar code scanners, smartphones, GPS location devices, tablets, firearms, and other products. Its hand held electronic devices comprise soft-sided carrying cases, bags, clips, hand straps, protective plates, and other accessories made of leather, nylon, vinyl, plastic, PVC, and other synthetic materials. The company sells its products to original equipment manufacturers in the Americas, the APAC, and the EMEA regions. Forward Industries, Inc. was founded in 1954 and is headquartered in West Palm Beach, Florida.

20 Employees
Last Reported Date: 12/10/14
Founded in 1954

forward industries inc (FORD) Top Compensated Officers

No compensation data is available at this time for the top officers at this company.

Executives, Board Directors

forward industries inc (FORD) Key Developments

Forward Industries Inc. Announces Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended March 31, 2015

Forward Industries Inc. announced unaudited consolidated financial results for the second quarter and six months ended March 31, 2015. The company generated an operating loss of $0.7 million in the fiscal 2015 second quarter compared to an operating loss of $0.3 million in the fiscal 2014 second quarter, primarily due to $0.4 million of increased professional fees for legal support and representation associated with employment litigation and other legal matters, plus $0.3 million of accruals for employment settlements with the former CFO and the former CEO. Net sales increased $0.5 million, or 7%, to $7.2 million in the fiscal 2015 second quarter from $6.7 million in the fiscal 2014 second quarter. Net loss from continuing operations was $0.7 million and $0.3 million in the fiscal 2015 and 2014 second quarters, respectively. After deducting preferred stock dividends and accretion, the fiscal 2015 and 2014 second quarter net loss from continuing operations was $0.7 million and $0.35 million, or $0.08 and $0.04 per basic and diluted share, respectively. Net loss applicable to common equity was $689,582,000 against $348,586,000 for the same period of last year. Net income per basic and diluted common shares was $0.08 against $0.04 for the same period of last year. The company generated an operating loss of $2.4 million in the fiscal 2015 six-month period compared to an operating profit of $0.1 million in the fiscal 2014 six-month period, primarily due to $1.4 million of increased professional fees for legal support and representation associated with employment litigation and other legal matters, plus $0.9 million of accruals for employment settlements with the former CFO and the former CEO. For the six months, net sales were increased $0.1 million, or 1%, to $15.2 million in the 2015 period from $15.1 million in the 2014 period. Net loss from continuing operations was $2.4 million and $64,000 in the fiscal 2015 and 2014 periods, respectively. After deducting preferred stock dividends and accretion, the fiscal 2015 and 2014 period net loss from continuing operations was $2.9 million and $32,000, or $0.34 and $0.01 per basic and diluted share, respectively. Net loss applicable to common equity was $2,665,068,000 against $46,058,000 for the same period of last year. Net income per basic and diluted common shares was $0.31 against $0.01 for the same period of last year.

Forward Industries Receives Non-Compliance Notice From NASDAQ

On March 3, 2015, Forward Industries, Inc. received a written notification from the NASDAQ Stock Market LLC (Nasdaq) indicating that the Company was not in compliance with the minimum bid price requirement set forth in Nasdaq Rules for continued listing on the Nasdaq Capital Market. Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of $1.00 per share, and Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days. Based on the closing bid price of the Company’s common stock for the 30 consecutive business days from January 16, 2015 to March 2, 2015, the Company no longer meets the minimum bid price requirement. The Notice has no immediate effect on the listing of the Company’s common stock on the Nasdaq Capital Market. Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has been granted a 180 calendar day compliance period, or until August 31, 2015, to regain compliance with the minimum bid price requirement. During the compliance period, the Company’s shares of common stock will continue to be listed and traded on the Nasdaq Capital Market. To regain compliance, the closing bid of the Company’s shares of common stock must meet or exceed $1.00 per share for a minimum of 10 consecutive business days during the 180 calendar day grace period. In the event the Company is not in compliance by August 31, 2015, the Company may be afforded a second 180 calendar day grace period. To qualify, the Company would be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the minimum bid price requirement. In addition, the Company would be required to provide written notice of its intention to cure the minimum bid price deficiency by effecting a reverse stock split, if necessary. If the Company does not regain compliance within the allotted compliance period(s), including any extensions that may be granted by Nasdaq, Nasdaq will provide notice that the Company’s shares of common stock will be subject to delisting. Under such circumstances, the Company would have the right to appeal a determination to delist its common stock, and the common stock would remain listed on the Nasdaq Capital Market until the completion of the appeal process. The Company intends to monitor its closing bid price for its common stock between now and August 31, 2015 and will consider any such available options to resolve the Company’s noncompliance with the minimum bid price requirement as may be necessary. No determination regarding the Company’s response has been made at this time. There can be no assurance that the Company will be able to regain compliance with the minimum bid price requirement or will otherwise be in compliance with other Nasdaq listing criteria.

Forward Industries Inc. Reinstates James McKenna as Chief Financial Officer

Forward Industries Inc. announced that it has recently offered to reinstate James McKenna as Chief Financial Officer. Mr. McKenna, who began his tenure at Forward in 2003, served Forward as its Corporate Controller, then Chief Financial Officer until August 2014. Unfortunately, and with regrets, Mr. McKenna was unable to accept Forward’s offer of employment due to prior commitments and his pursuit of other opportunities.

 

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FORD

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Price/Earnings NM Not Meaningful
Price/Sales 0.2x
Price/Book 0.9x
Price/Cash Flow NM Not Meaningful
TEV/Sales 0.1x
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