SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): ~~October~~April 1319, 2007 ~~2005~~

FOUNTAIN POWERBOAT INDUSTRIES, INC.

(Exact name of registrant as specified in its charter)

Nevada

000-14712

56-1774895

(State or other jurisdiction

of incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

Post Office Drawer 457

Washington, North Carolina 27889

(Address of principal executive offices)

Registrant’s telephone number, including area code: (252) 975-2000

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))

InItem ~~this~~5.02. ~~report~~Departure onof ~~Form~~Directors ~~8-K,~~or ~~the~~Certain ~~words~~Officers; ~~“we,”~~Election ~~“our”~~of ~~and~~Directors; ~~similar~~Appointment ~~terms~~of ~~refer~~Certain toOfficers; ~~the Registrant,~~Compensatory ~~Fountain~~Arrangements ~~Powerboat~~of ~~Industries,~~Certain ~~Inc.~~ Officers

~~Item~~On April 219, 2007, A.~~02.~~ ~~Results~~Myles Carterette tendered his resignation as a member of our Board of Directors, effective on June 1, 2007. Mr. Carterette’s letter of ~~Operations~~resignation ~~and~~stated ~~Financial~~that ~~Condition~~increased demands on his time by his personal business interests would not allow him the necessary time to fulfill his future duties as a director. Mr. Carterette was first elected as a director during 2002.

On October 13, 2005, we announced our results of operations for our fiscal year ended June 30, 2005. A copy of our press release is furnished as Exhibit 99.1 to this Report.

Item 9.01. Financial Statements and Exhibits.

The following exhibit is furnished with this Report:

Exhibit No.		Exhibit Description
99.1		Copy of our press release dated October 13, 2005.

Disclosures About Forward Looking Statements

Statements in this Report and its exhibits relating to our plans, strategies, economic performance and trends, projections of results of specific activities or investments, expectations or beliefs about future events or results, and other statements that are not descriptions of historical facts, may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated, from our historical results, or from any results expressed or implied by the forward looking statements. Forward-looking statements may be identified by terms such as “may,” “will,” “should,” “could,” “expects,” “attain,” “plans,” “intends,” “anticipates,” “believes,” “estimates,” “predicts,” “projected,” “forecasts,” “potential” or “continue,” or similar terms or the negative of these terms, or other statements concerning our goals or opinions or judgments of our management about future events. Factors that could influence the accuracy of those forward-looking statements include factors discussed in our Annual Report on Form 10-K and in other documents we file with the Securities and Exchange Commission from time to time. Copies of those reports are available through our Internet website at www.fountainpowerboats.com or directly through the Commission’s website at www.sec.gov. Other factors that could influence the accuracy of those forward-looking statements include, but are not limited to: the financial success or changing strategies of our dealers and customers; effects of changes in the domestic and international economies on the marine industry and customer purchase decisions; our sales volume and our ability to meet our sales goals; customer acceptance of our products, services and price structure; the success of our brand development efforts; the volatile and competitive nature of the marine industry and our ability to compete effectively against other manufacturers of products similar to ours; market conditions; changes in foreign exchange rates; actions of government regulators; our ability to control costs; changes in interest rate levels; and other developments or changes in or that affect our business that we do not expect or that we cannot control. Although our management believes that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. We have no obligation to update these forward-looking statements.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, we have duly caused this Report to be signed on our behalf by the undersigned thereunto duly authorized.

			FOUNTAIN POWERBOAT INDUSTRIES, INC. (Registrant)
	FOUNTAIN POWERBOAT INDUSTRIES, INC.
Date: October 17, 2004			By:	/S/ Irving L. Smith
	(Registrant)
				Irving L. Smith Chief Financial Officer
Date: April 24, 2007	By:	/S/ Irving L. Smith
		Irving L. Smith
		Chief Financial Officer

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