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[QUOTE]Originally posted by Jo4321: [QB] Oh BTW, if you liked it at $16.00, you'll love it down in the $15's (sigh) ------------------------ UPDATE 1-Force Protection Q3 net up, shares fall on funding plan Wed Nov 14, 2007 1:17pm EST BANGALORE, Nov 14 (Reuters) - Force Protection Inc (FRPT.O: Quote, Profile, Research) reported higher quarterly profit in line with analysts' estimates, but said it may have to raise capital through debt or equity to fund expansion, sending its shares down over 5 percent. The maker of ballistic and mine-protected vehicles, in a filing with the U.S. Securities and Exchange Commission on Tuesday, said it expects to spend about $45 million in the fourth quarter to expand its manufacturing capacity to be funded internally. However, it would require additional capital in 2008 that may have to be part funded through debt or equity offerings. Chris Donaghey, an analyst with SunTrust Robinson Humphrey, said he expects Force Protection to raise more than its December 2006 equity offering of $150 million. The company reported third-quarter earnings of $11.4 million, or 16 cents a share, up from $239,943, or breakeven on a per-share basis, a year ago. Earnings, excluding one-time liquidated damages of about 1 cent a share relating to the company's 2006 offering, were in-line with analysts' expectations of 17 cents a share. Net sales surged almost four times to $206.3 million, from $42.2 million a year earlier, helped by increased deliveries of its Cougar and Buffalo armored vehicles. However, this included $33.3 million of sales attributable to its joint venture partner General Dynamics Corp (GD.N: Quote, Profile, Research). Excluding the General Dynamics share, net sales were largely inline with analysts' estimate of $173.9 million. Shares of the company fell about 89 cents to $16.81 in afternoon trade on the Nasdaq. (Reporting by Anant Vijay Kala in Bangalore) [/QB][/QUOTE]
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