Force Protection gets $43M Navy deal Tuesday July 1, 6:56 pm ET Force Protection gets $43 million Navy deal to provide parts and equipment for MRAPs
WASHINGTON (AP) -- Armored vehicle maker Force Protection Industries Inc. received a $43 million contract boost from the Navy to provide parts, training equipment and material for previously purchased mine-resistant, ambush-protected vehicles, the Pentagon said Tuesday. Shares of Ladson, S.C.-based Force Protection added 9 cents, or 2.7 percent, to $3.40 in aftermarket trading, after closing at $3.31.
Posts: 2794 | From: nyc | Registered: Aug 2005
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And there ya go, hit $4.01 today. My perfect timing strikes again!
Jo
French Military Orders Buffalo Vehicles from Force Protection Wednesday July 23, 7:30 am ET
LADSON, S.C.--(BUSINESS WIRE)--Force Protection, Inc. (NASDAQ:FRPT - News) today announced that it will produce five Buffalo Category III vehicles for the French military under a contract modification to contract M67854-07-C-5039. The order totals $3.5 million and is scheduled for completion by November 2008. Work is to be performed solely by Force Protection Industries.
“We are proud to provide these vehicles to the French government,” said Michael Moody, Chief Executive Officer of Force Protection. “This represents another important step in the continued growth of our international customer base. Force Protection’s battle proven vehicle platforms continue to be the choice of our allied fighting forces throughout the world.”
About Force Protection, Inc
-------------------- "Great Day for Up!"....Dr. Seuss Posts: 3387 | Registered: Mar 2006
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Force Protection Rolls Out First Ridgback Vehicles for the British Ministry of Defence
Last update: 4:29 p.m. EDT Aug. 5, 2008
LADSON, S.C., Aug 05, 2008 (BUSINESS WIRE) -- Representatives of Force Protection Industries, Inc., (FRPT:force protection inc com new News, chart, profile, more Last: 3.30+0.02+0.46%
4:00pm 08/05/2008
Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss Financials Sponsored by: FRPT 3.30, +0.02, +0.5%) , the U.S. Government and the British Ministry of Defence gathered today as Force Protection rolled out the first five new Ridgback vehicles developed specifically for the British Ministry of Defence (MOD). The Ridgback is comparable to Force Protection's Cougar 4x4 vehicle. "The delivery today of the first five Ridgback vehicles represents an important step in our continuing efforts to provide critical protection for the British forces. Through the efforts of many people within Force Protection, we are able to deliver these first Ridgback vehicles one month ahead of schedule," said Michael Moody, chief executive officer. The British Ministry of Defence has ordered 157 Ridgback vehicles for a total cost of approximately $94 million. Although the British Ministry of Defence has used the Cougar 6x6 (Mastiff) since late 2006, this is the first Ridgback delivery to the United Kingdom. About Force Protection, Inc. Force Protection, Inc. is a leading American designer, developer and manufacturer of life saving survivability solutions, predominantly ballistic- and blast-protected wheeled vehicles currently deployed by the U.S. military and its allies to support armed forces and security personnel in conflict zones. The Company's specialty vehicles, the Cougar, the Buffalo and the Cheetah, are designed specifically for reconnaissance, forward command and control, and urban operations and to protect their occupants from landmines, hostile fire, and improvised explosive devices (IEDs, commonly referred to as roadside bombs). The Company is one of the original developers and primary providers of vehicles for the U.S. military's Mine Resistant Ambush Protected, or MRAP, vehicle program. For more information on Force Protection and its vehicles, visit www.forceprotection.net. SOURCE: Force Protection, Inc. Force Protection, Inc. Company Contact: Tommy Pruitt, 843-574-3866 Senior Communications Director or Investor Relations Contact: ICR, Inc. James Palczynski, 203-682-8229 Principal and Director
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rumors of some type of annoucement monday floating around. could be big.. guess we wait and see. fingers crossed!
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Force Protection Receives New Service and Support Orders Friday August 8, 3:37 pm ET
LADSON, S.C.--(BUSINESS WIRE)--Force Protection, Inc. (NASDAQ: FRPT - News) today announced that it has received a new contract modification for the service and support, including spare parts, of its Mine Resistant Ambush Protected Vehicles. This order modifies the M67854-07-D-5031 MRAP contract with Marine Corps Systems command to enable the Defense Logistics Agency (DLA) to place orders under that contract. Deliverables under the modification, which totals $69.5 million, are expected to run through 2009. This modification is subject to the company’s agreement with General Dynamics Land Systems providing for a share of the deliverables and the actual revenue split between the partners is to be determined. ADVERTISEMENT
Michael Moody, Chairman and Chief Executive Officer of Force Protection, commented, “We continue to see significant levels of service and support work for our fleet of vehicles and we remain pleased with the strong relationship we have developed with the United States Marine Corps, our largest customer. This modification builds upon our relationship with the Defense Logistics Agency to provide ongoing support to our vehicles in the field.”
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def one to watch... 50MA approaching 200MA. trading a lot tighter lately and steady. lots of news expected over next few weeks. including CC, 10Q, 10k. watch!!
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Technically, FRPT has been showing support around $3.28 and resistance in the $4.47 range. The selling signal is on today but very weak. (http://www.9trading.com/index.php?symbol=FRPT)
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frpt is only going higher once all this mess is fixed. and we are less then 1wk away from the fix:)
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i like the chart, still in breakout mode, bouncing right off that 50MA area. fpi needs to follow through with the 10k, 10q, cc. got until the 15th!
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Just bought Oct. $5 Calls for .05. I couldn't resist that price seeing that revised earnings are due out within 5 days. Could fly.
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AP Force Protection gets $42M contract expansion Wednesday September 24, 5:57 pm ET Force Protection given $42 million contract expansion for MRAP work
WASHINGTON (AP) -- The Department of Defense said Wednesday that it has added $41.8 million to a Force Protection Inc. contract for work on mine resistant vehicles. The contract is for the purchase of equipment and services for the Mine Resistant Ambush Protected, or MRAP, vehicles that Force Protection makes. The Army and Marines use MRAP to protect troops against roadside bombs in Iraq and Afghanistan.
Shares of Ladson, S.C.-based Force Protection fell 10 cents, or 3.4 percent, to close at $2.84.
Posts: 4381 | From: houston | Registered: Mar 2006
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more $$$ coming in. next week should be interesting. remember the 30th is cc and 08 earnings. i think this stock will be harder and harder to keep down as time goes on...
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The Marine Corps Systems Command intends to negotiate and award a sole-source contract with Force Protection Industries, INC (FPII), a large business based out of Ladson South Carolina, pursuant to FAR 6.302-1. The contract will be for up to fifty (50) Category III Buffalo Mine Protected Clearance Vehicles (MPCVs), spare parts and life-cycle sustainment support. The Category III Buffalo vehicle is a mine resistant, route clearance type vehicle that is needed in convoy operations. FPII's Category III Buffalo is a versatile, diesel powered, pneumatic tired, heavily armored multi-purposed vehicle equipped with hydraulically operated arm that can reach out and manipulate a variety of objects on the ground. FPII's Category III Buffalo Vehicles are already in the USMC inventories and have been repeatedly proven to save lives. FPII possesses unique knowledge and production line capabilities for immediate production of this required item and is therefore the only vendor ! deemed qualified to provide this item. All contractors who provide goods/services to the DoD must be registered in the Central Contractor Register (CCR). Online Certifications and representations at (ORCA), http:\orca.bpn.gov, will also be required. Failure to comply with the ORCA registration may make a vendor ineligible for award. This notice of intent is not a request for competitive proposals and no formal solicitation package is available. However, interested parties may identify their capability to meet the requirements by submitting a white paper, technical data for the item, and past performance data no later than 1 October 2008 to Kimberly Barnes at kimberly.m.barnes.ctr*usmc.mil. Responses received by 1 October 2008 will be considered. A determination by the Government not to compete this effort on a full and open basis is solely within the discretion of the Government. The Government will not be responsible for any cost incurred in responding to this notic! e. Only e-mail inquiries will be accepted-no telephonic communications.
Contracting Office Address: M67854 MARINE CORPS SYSTEMS COMMAND Quantico, VA Point of Contact(s): Carl V. Bradshaw 540-242-3035 Contract Specialist Kimberly Barneskimberly.m.barnes.ctr*usmc.mil Contracting Officer Carl V. Bradshawcarl.bradshaw*usmc.mil
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I bet they get bought by a rival after the turmoil. They are at a measly 200 million market cap. They had over 800 million in 2007 sales. Earnings today, conference call, and then the Marine contract by Oct. 1st. We shall see.
Posts: 4381 | From: houston | Registered: Mar 2006
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quote:Originally posted by invester: There going to get bought.
invester, yep i think so and have suspected this for a long time. especially now as all filings are up to date and we are good to go.
did you listen to the CC? I didn't have time, anything in there about possible take over? thanks:)
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quote:Originally posted by invester: There going to get bought.
invester, yep i think so and have suspected this for a long time. especially now as all filings are up to date and we are good to go.
did you listen to the CC? I didn't have time, anything in there about possible take over? thanks:)
Didn’t get a chance. It’s just an obvious synopsis. Market cap versus revenues. You also have several players in the DoD contract. The military is already using there vehicles. They will make the final cut then get bought, if not before.
Posts: 4381 | From: houston | Registered: Mar 2006
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Didn't FRPT say in one of their PR's that they've been booted from the JLTV program? It'd make sense then why FRPT is not mentioned as a competitor in any recent article about the program. Somebody tell me I'm wrong.
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Off of ihub, I'll keep looking for the actual source. I think it was transcript of a conference call. Juice should know.
"On August 14, 2008, we were informed that we were no longer in consideration for the JLTV program Milestone A (Technology Demonstration Phase). We will continue to pursue opportunities on the JLTV program by working with Milestone A vendors to determine whether there are potential fits for Force Protection technology (e.g. Force Armor™). In addition, we will continue to monitor the JLTV program as it transitions from Milestone A to Milestone B (System Development Phase) in fiscal years 2010 - 2011 with a view to reentering the competition.
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