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» Allstocks.com's Bulletin Board » .11 and Up! » FRPT- FORCE PROTECTION --> 1.92 (Page 3)

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Author Topic: FRPT- FORCE PROTECTION --> 1.92
juice
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4+ today?
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juice
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GREAT READ GUYS!!!

The Fuel to Propel Force Protection Higher
by: William Velmer posted on: May 05, 2008
| about stocks: FRPT

Force Protection, Inc. (FRPT) ($3.59) primarily produces MRAP vehicles - mine protected ambush resistant vehicles - which are used to protect our troops from IEDs (Improvised Explosive Devices) used in Iraq and Afghanistan by the insurgents.

The company's balance sheet is clean, with around $70 million in cash and no debt. Fully diluted, there appear to be around 69 million shares outstanding. As of April 10th 2008, it appears that there are around 9 million shares short. This is potentially huge explosive fuel to propel FRPT higher than anticipated once the company gets all of it "ducks" in order.

It is our opinion that this company got into trouble because of rocketing growth that could not be handled by past management. According to MilitaryIndustrialComplex.com, FRPT has received contracts from October 2006 to May 2008 totaling over $2.2 billion for their MRAP vehicles and support and parts.

Resulting from a management re-shuffle, lawsuits by cry baby investors and late financial filings, FRPT's share price has suffered from a 52 week high of $31.00 to a recent low of $1.00. FRPT has had to survive its own chaos. Even though the share price has formed a huge crater within the pockets of bleary eyed investors, the contracts from around the world keep rolling in and yielding a backlog of over $1 billion, according to our calculations.

We believe that business will keep coming in, not only from the DOD but from other allies around the world that see the need to address this cowardly form of combat. It appears from a recent document that the Canadian government is ready to commit $60 million to purchase some MRAPs; visit here and see the mention of Cougar/Buffalo vehicles, which are two of the vehicles that FRPT produces. As recently as May 1, 2008, the company announced a contract with the UK for $94 million. The Italians, Canadians and English are only a few of the potential customers that want these vehicles. As of May 2nd, President Bush has introduced a bill for $70 billion for defense funding--$3 billion is to deal with roadside bombs and $2.6 billion to airlift "new" mine resistant vehicles into the war zones.

All roads lead to huge revenue and profits. The investor must first deal with current uncertain paths before the bank entrance is reached. The new auditor has been named - it just is unknown at this time when the 2007 10K and now 2008 10Q for Q1 will be released. Many investors cannot handle the "heat" and will sit on the roadside while things get sorted out--we prefer the more aggressive path to riches, which is to hop on the caravan early instead of late.

At present, the BK stated from the September 30, 2007 9-month 10Q equaled $3.57; the cash/sh was around $1.00/share; revenue was $441 million; and net income/sh equaled .34. From that point on, the numbers are unknown, but most believe that revenue reached $700+ million for 2007 and that estimated revenue for 2008 will be around $1 billion. These numbers result from the recent conference call and contracts being announced and contracts seen here.

Bottom line: The balance sheet look great; we have a huge backlog; defense spending in a growth mode around the world; if we enter a recession this business is not affected; large short position that adds bullish fuel for corporate positives; unloved; uncertain financial results; most likely a takeover candidate (General Dynamic (GD) could eat them for lunch) before or after financial filings brought up to current status; and just plain cheap based upon potential estimated PE, PSR CF/sh and EBITDA.

We rate FRPT with a strong but speculative buy recommendation at current levels. Start building a position, but don't blow all your powder at once - scale into this unloved gem.

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juice
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4!!!!!
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juice
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YET AGAIN!

Force Protection Industries, Inc., Ladson, S.C., is being awarded a $17,113,045 modification to previously awarded contract (M67854-07-D-5031) delivery order #0005 for the purchase of Mine Resistant Ambush Protected (MRAP) vehicle integrated logistic support sustainment parts and OCONUS field service representatives. Work will be performed in Ladson, S.C., and work is expected to be completed Oct. 2009. Contract funds will not expire at the end of the current fiscal year. The Marine Corps Systems Command, Quantico, Va., is the contracting activity.

http://www.defenselink.mil/contracts/contract.aspx?contractid=3767

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invester
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This company's for me.
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juice
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and me!

sweet close!! 3.97!

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invester
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Indeed it was. Based on the 2 billion in orders, this should be at $30 a share at just one times earnings. That's unreal. I don't even want to tell you what it should be at with a realistic P/E. [Smile]
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juice
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right on, thats what I was ranting about when I stumbled upon this under 2.00! Now up over 100% since then, and WAY more to come! [Eek!]
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juice
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bids at 4 and above premarket!
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juice
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4.16 PRE MARKET WOW!!
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invester
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This things been ripping!!!!
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juice
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holy $&%$T!!!
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invester
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I picked up another 1000 yesterday when it dipped. [Smile]
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invester
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I'm in AIRN as well ahead of earnings. They've written contracts with 30 or more countries. Should finally be there quarter. We'll see.
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juice
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nice! ive been watching AIRN, ill keep a closer eye thanks... with this i own 4k free 1.18 LOL, on route to be my largest gain yet!!!!!!!!!!!
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invester
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I've got 5k. I haven't sold a share yet. I'll start taking a little profit at $8-$10
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invester
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My Dollar cost average is a bit higher than yours at $2.74
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juice
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you're golden man! beautiful avg!!
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invester
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[Smile]
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invester
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Up 50%
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invester
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AIRN that is.
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juice
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SWEET! like you need more money!! lol
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invester
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LoL
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invester
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Just sold my AIRN $1.12 after hours. Numbers don't look that good.
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Jo4321
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Looks like good timing there on AIRN, invester. A/H down to .90.

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"Great Day for Up!"....Dr. Seuss

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invester
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I just saw that. I think it’s a great company. They keep writing contracts in the largest expanding industry, but keep missing numbers. Maybe bad management.
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juice
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frpt under 4... next target over 5:)
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invester
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Sold some as it was dropping $4.15 then re-bought at $3.95
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invester
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I actually just closed my position and bought Dec. 2008 $2.50 Calls. Much more stock, same investment.
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invester
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I just bought Dec. $5 2008 Calls as well. 20 contracts. This baby's going higher.
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Stupid
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What does AIRN have to do with FRPT? Just curious.

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DDDDD

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Jo4321
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Sigh....Can't catch a break with FRPT:

Force Protection Files To Delay 10Q >FRPT

Last update: 5/8/2008 3:59:25 PM(MORE TO FOLLOW) Dow Jones NewswiresMay 08, 2008 15:59 ET (19:59 GMT)

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Free Muney
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why are they delaying? this is going to kill this rally... are they fudging numbers or something?

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Contrarian views always appreciated.... :p

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Jo4321
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Sadly, the rally's done been killed.... after hours already down to $3.60 (down .43 from close/ .75 off the high)

Here's the lastest:------------------------------------------------

Force Protection, Inc. (“Force Protection”, the “Company”, “we”, “us”, or “our”) has determined that it is unable to file its Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2008 by the prescribed due date. As previously reported, we require additional time to complete our evaluation of our internal controls over financial reporting and preparation of the consolidated financial statements for the fiscal year ended December 31, 2007.

We intend to file our Annual Report on Form 10-K for the year ended December 31, 2007 and Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2008 with the SEC promptly upon the completion of the audit of the consolidated financial statements for the year ended 2007.


We previously reported that we have also determined that our previously filed interim financial statements for the three and nine month periods ended September 30, 2007 and all public communications of such consolidated financial statements should no longer be relied upon because those consolidated financial statements contain material misstatements. Accordingly, we plan to restate our historical financial statements for the quarterly period ended September 30, 2007.

We are working as expeditiously as possible to finalize the consolidated financial statements for the fiscal year ended December 31, 2007, the quarterly period ended March 31, 2008 and to file amendments to our previously filed Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2007. While the lack of an audit firm has slowed our progress, we resolved that contributing factor on April 10, 2008, when we engaged Grant Thornton LLP as our independent registered public accounting firm for the fiscal years ended December 31, 2007 and ending December 31, 2008

http://www.sec.gov/Archives/edgar/data/1032863/000110465908031264/a08-13900_1nt1 0q.htm

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"Great Day for Up!"....Dr. Seuss

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invester
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Big deal, its temporary. It doesn't change the story of the company, or the BILLIONS in contracts. A delay, is only a delay.
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