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      AND EXCHANGE COMMISSION </strong></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Date
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<br></strong></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br>&#160;</div>
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      this report on Form 8-K, the words &#8220;we,&#8221; &#8220;our&#8221; and similar terms refer to the
      Registrant, Fountain Powerboat Industries, Inc.</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
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      2.02. Results of Operations and Financial Condition </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      February 9, 2006, we announced our results of operations for the quarter ended
      December 31, 2005. A copy of our press release is furnished as Exhibit 99.1
      to
      this Report. </font></div>
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            <td align="left" valign="bottom" width="3%">&#160;</td>
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            </td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.1</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Copy
                of our press release dated February 9,
                2006</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Disclosures
      About Forward Looking Statements </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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 &#8220;may,&#8221;&#160; &#8220;will,&#8221;&#160;
&#8220;should,&#8221;&#160; &#8220;could,&#8221;&#160; &#8220;expects,&#8221;&#160; &#8220;attain,&#8221;&#160; &#8220;plans,&#8221;&#160;
&#8220;intends,&#8221;&#160; &#8220;anticipates,&#8221;&#160; &#8220;believes,&#8221;&#160; &#8220;estimates,&#8221;&#160;
&#8220;predicts,&#8221;&#160;&#160; &#8220;forecasts,&#8221;&#160; &#8220;potential&#8221; or &#8220;continue,&#8221; 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 </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>www.fountainpowerboats.com</em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      or
      directly through the Commission&#8217;s website at </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>www.sec.gov.
      </em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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.
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      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. </font></div>
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            <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: "><strong>FOUNTAIN
              POWERBOAT INDUSTRIES, INC.</strong></font></td>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<font size="2">(Registrant)</font></div>
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            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: "><strong>Date:
              February 10, 2005</strong></font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">By:&#160;&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">/s/&#160;Irving
              L.
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                L. Smith</font></div>
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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): February 9, 2006
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))
In
      this report on Form 8-K, the words "we," "our" and similar terms refer to the
      Registrant, Fountain Powerboat Industries, Inc.
Item
      2.02. Results of Operations and Financial Condition
On
      February 9, 2006, we announced our results of operations for the quarter ended
      December 31, 2005. A copy of our press release is furnished as Exhibit 99.1
      to
      this Report.
Exhibit No.
Exhibit
                Description
99.1
Copy
                of our press release dated February 9,
                2006
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,"   "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.
2
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)
Date:
              February 10, 2005
By:
/s/ Irving
              L.
              Smith
Irving
                L. Smith
Chief
                Financial Officer