posted
Not lately. Last shares I bought were in my IRA for $17.20 on 12/21/2006
I've got nearly 50% of my IRA in this now (mostly due to the incredible gains), so I'm not sure I'll be getting more. Maybe a few more "trading shares" would be fun, though.
Jo
-------------------- "Great Day for Up!"....Dr. Seuss Posts: 3387 | Registered: Mar 2006
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posted
Nice article on FRPT in tomorrows Investors Business Daily "The New America" column. Stocks in this column often get a nice pop the next morning.
New Armored Vehicle Saves Lives In Iraq, Protects From IED Blasts
BY KEVIN HARLIN
INVESTOR'S BUSINESS DAILY
Posted 1/3/2007
The venerable Humvee wasn't designed to take the abuse dished out daily on the streets of Baghdad. Force Protection says its vehicles are.
The Ladson, S.C., company says its patrol vehicles — essentially armored bank trucks on steroids — could save soldiers from one of the main threats they face today: devastating roadside bombs.
A few hundred of its Buffalo and Cougar vehicles are already deployed by U.S., British and Iraqi forces. In December, it partnered with General Dynamics (GD) to bid on the U.S. military's latest call for a mine-resistant, ambush-protected vehicle, or MRAP in military jargon.
If Force Protection wins its more than $1 billion bid to provide up to 3,600 vehicles over 18 months, it will be a massive undertaking for a company that produced just 50 vehicles in December.
General Dynamics
By marrying Force Protection's trucks with General Dynamics' fabricating capacity, the companies together can deliver large numbers of "the strongest, most advanced blast- and ballistic-protected vehicles in the world," Force Protection's Gordon McGilton said in a written statement.
Humvees weren't designed to bear the brunt of an explosion, particularly from underneath. The military is retrofitting those workhorses with armor plating, but casualties continue to mount.
Unlike Humvees, all of Force Protection's vehicles have V-shaped hulls — a design first pioneered in South Africa that deflects blasts up and around the crew compartment.
That shape, and the heavy armor — the company considers the exact makeup of the protective skin a military secret — increase the odds that soldiers inside will survive.
The military suffered its first fatalities inside a Force Protection vehicle in an attack in November. Neither the company nor the military would elaborate, citing security.
But in most attacks the injuries have been minor, and many of the damaged vehicles have been able to return to base under their own power.
"It's the gold standard in protection," said Michael Aldrich, a Force Protection vice president. "We've been hit over 2,000 times now. So the jury has come back in and announced that they like the design and they believe in it."
The U.S. Army took delivery of the first Buffalos in 2003. These massive, 45,000-pound trucks, with 30-foot remote arms, are used to spot and disable improvised explosive devices — the dreaded IEDs.
The middle-duty vehicle, the 30,000-pound Cougar, first entered service with the Marines in Fallujah in 2004 and is also used for hunting IEDs.
In December, the company raised $152.8 million in a private placement that it said will allow it to ramp up production of its newest and smallest vehicle, the relatively nimble 14,000-pound Cheetah.
Aldrich says the Cheetah will offer the same blast protection and will be able to better maneuver along narrow urban corridors.
As of December, the U.S. Marines already had 69 Force Protection trucks — four Buffalos and 65 Cougars — and funding approved for 805 more, Marine Corps Systems Command spokesman Bill Johnson-Miles says.
Johnson-Miles says accounts from Marines who survived blasts in them are a testament to the trucks' durability.
Force Protection's Aldrich said the success in the field has led to calls from NATO nations and the militaries of Middle East countries.
Ultimately the military plans to retire the Humvee completely, Johnson-Miles says. It hasn't yet put out specifications for the next generation of durable multipurpose vehicle. But Force Protection hopes its trucks, or variations on them, will make the grade.
Potential Market
If so, that would open the company to a potential $10 billion market to deliver 20,500 vehicles.
But capacity would have to dramatically improve first.
With General Dynamics' plants in Ohio and elsewhere, Force Protection said it expects to be churning out 200 vehicles a month by the middle of 2007, and up to 300 a month in 2008.
With capacity at its Ladson plant nearly maxed out, the company is looking for a new facility to manufacture its Cheetahs.
C.E. Unterberg Towbin analyst James McIlree says the order prospects look good in 2007, though he cautioned in a research note that the company could hit snags as it tries to ramp up production. He also noted that since the bulk of the business comes from the U.S. military, the company would be in trouble if its trucks lost favor, or were beaten by offerings from better-financed competitors.
McIlree's firm underwrote the company's December private placement.
Joe Maxa, an analyst with Dougherty & Co., wrote in a November research note that the management team at the 10-year-old company had limited experience together.
Force Protection trades as a bulletin board stock, but it has applied for listing on the Nasdaq Capital Market. In December it appointed a retired U.S. Army lieutenant general to its board, giving it the required majority of independent directors.
The company posted earnings of 1 cent per share in the third quarter, on revenue of $42.2 million, up from an 11-cent loss a year ago on sales of $9.3 million. Analysts had expected 4 cents per share in the third quarter.
Maxa attributed most of the shortfall to a delivery timing issue at the end of the quarter, and a delay in Buffalo production due to a customer's design change.
Analysts surveyed by Thomson Financial expect 7 cents per share in the fourth quarter, 11 cents for the year and 57 cents in 2007.
Posts: 83 | Registered: May 2006
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I'm wondering how this little blurb from that article will affect tommorrow's action.
quote: The military suffered its first fatalities inside a Force Protection vehicle in an attack in November. Neither the company nor the military would elaborate, citing security.
But in most attacks the injuries have been minor, and many of the damaged vehicles have been able to return to base under their own power.
They sure kept that under wraps. That's the first we've heard of anyone being killed in an FP vehicle.
Jo
-------------------- "Great Day for Up!"....Dr. Seuss Posts: 3387 | Registered: Mar 2006
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Force Protection, Inc. Marks Major '06 Milestones, New Vehicle Production Record in December Business Wire - January 04, 2007 08:45
LADSON, S.C., Jan 04, 2007 (BUSINESS WIRE) -- Leading U.S. armored vehicle manufacturer Force Protection, Inc. (OTCBB:FRPT) continued to record substantial growth in contracts, vehicle deliveries, workforce, production capacity, and strategic partnerships during 2006, the company said today.
Force Protection's Buffalo and Cougar blast- and ballistic-protected vehicles marked more than three years in combat operations in Iraq and Afghanistan in the past year. There are over 300 vehicles currently deployed, more than double the number at the beginning of 2006.
"It has been an important and remarkable year for the company," said CEO Gordon McGilton. "We continue to reap the rewards of restructuring efforts begun in 2003 to become a high-volume assembly-line manufacturer with the capacity to produce the world's best protected vehicles in the numbers needed."
"Built on the foundation of partnerships with other leading defense contractors such as General Dynamics Land Systems, BAE Systems, and Armor Holdings, and the exponential expansion of our workforce and manufacturing infrastructure, Force Protection is positioned to meet the increasing demands for our blast protection technology as never before," said Chairman Frank Kavanaugh.
Force Protection's workforce has increased to more than 700, up from 300 in January 2005. The company delivered more than 50 vehicles in December 2006 alone, a 300% increase from December 2005.
"Our records show that we produced more vehicles last month than in all of 2003 and 2004 combined," added McGilton.
Total contract awards for the year have also multiplied, due in large part to a $214 million contract award from the Marine Corps Systems Command for approximately 280 Cougar Joint Explosive Ordnance Disposal (EOD) Rapid Response Vehicles (JERRV) and Buffalo mine-protected clearance vehicles announced November 10, 2006.
Force Protection received a $180 million Foreign Military Sales contract from the U.S. Army Tank-automotive and Armaments Command to manufacture 378 Iraqi Light Armored Vehicles (ILAVs). Force Protection is acting as subcontractor, with BAE Systems as prime contractor on the award announced June 5, 2006.
The company also marked expansion into the international defense market during 2006, with a $63 million dollar contract award from the British Ministry of Defense (MOD) for more than 85 specially designed Cougars, known by the British military as Mastiff Protected Patrol Vehicles (Mastiff PPV). The first round of Mastiff PPVs were presented to the MOD ahead of schedule on November 16, 2006.
In December 2006, Force Protection and General Dynamics announced a joint venture company, Force Dynamics, which was formed to compete for the Mine Resistant Ambush Protected (MRAP) vehicle program managed by the U.S. Marine Corps. The MRAP competitive action for the first year's estimated requirement of 4,100 vehicles has an approximate value of $2 billion.
The company has continued to expand its integrated logistics support (ILS) department and anticipates that this will be a further source of revenue in 2007. ILS is responsible for order fulfillment on spare parts, contract services and maintenance and training, as well as the deployment of Force Protection field service representatives. ILS revenues are expected to exceed $42 million for 2006.
"By every measure, Force Protection is fulfilling its commitment to do all that is necessary to get these life-saving vehicles to those who need them most," noted McGilton. "From the military to the media to the federal government, our vehicles are recognized as a proven solution to the threat of improvised explosive devices, land mines, and road side bombs. No other vehicle lines match those of Force Protection for troop safety. It is because of their performance in the field that the company continues to experience such phenomenal growth."
"We look forward to continuing this vital work for our customers in 2007," said Kavanaugh. "We are also excited at the opportunities to expand our business model and provide the best possible return for our shareholders."
About Force Protection
Force Protection, Inc. manufactures ballistic- and mine-protected vehicles through its wholly owned subsidiary. These specialty vehicles are protected against landmines, hostile fire, and Improvised Explosive Devices (IEDs, commonly referred to as roadside bombs). Force Protection's mine and ballistic protection technologies are among the most advanced in the world. The vehicles are manufactured outside Charleston, S.C.
This release contains forward-looking statements, including, without limitation, statements concerning our business, future plans and objectives and the performance of our products. These forward-looking statements involve certain risks and uncertainties ultimately may not prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. The company cautions that these forward looking statements are further qualified by factors including, but not limited to, those set forth in the company's Form 10-KSB filing and other filings with the United States Securities and Exchange Commission (available at http://www.sec.gov) and the company's public statements. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: Force Protection, Inc.
Policy Impact Strategic Communications Media: Jeff Child, 202-737-5339 jchild*policyimpact.com or Force Protection, Inc. Investor Relations, 843-740-7015 investorrelations*forceprotection.net
Copyright Business Wire 2007
Posts: 3387 | Registered: Mar 2006
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posted
just bought 300 shares at$18,i hope i did the correct thing.i love there product.any other stocks that are similiar to this as far as growth.
Posts: 109 | From: canada | Registered: Jan 2006
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posted
Cool! Looks like we've got a little gapper this morning.
That Katie, in that video she talks about people dying with a smile on her face. Reminds me of that song Dirty Laundry. "...She can tell you bout the plane crash with a gleam in her eye..."
posted
Military Truck Maker Gets A Boost Matthew Swibel, 01.10.07, 10:15 AM ET
WASHINGTON, D.C. - Force Protection Industries, maker of ballistic- and mine-protected vehicles used by the U.S. military, plans to list on the Nasdaq Stock Market on Jan. 18, giving it better credibility from its current place trading in the pink sheets, and better chances of raising capital to fuel continued sales growth.
The company delivered more than 50 vehicles in December 2006 alone, a 300% increase from December 2005. Not a single serviceman has been killed riding in its 23-ton Buffalo vehicle or its 17-ton Cougar vehicle. (See " Armor's Next Target?")
Whatever the criticism of President George W. Bush's plan for a troop build-up in Iraq by some Democrats, such as Sen. Russell Feingold of Wisconsin and Sen. Harry Reid of Nevada, Force Protection (other-otc: FRPT - news - people ) sees plenty of opportunity in the military's procurement plans for Iraq-style warfare. Last month, it announced a joint venture with General Dynamics (nyse: GD - news - people ) to compete for the Mine Resistant Ambush Protected vehicle program managed by the U.S. Marine Corps. The service plans to spend at least $2 billion for 4,100 vehicles.
Once the contract is awarded, production could begin as early as April or May--as much as three months ahead of schedule. "The intent is to try and get a fairly large number of these fairly quickly," Delores Etter, the Navy's chief acquisition official, told Defense Daily, a military journal. "These are what the commanders would like to be using in Iraq right now."
Trucks are also due for major boosts in the Pentagon's recent $100 billion supplemental funding breakdown, with $1.2 billion partitioned for the service's Family of Heavy Tactical Vehicles and $1.67 billion for the Family of Medium Tactical Vehicles. Another $1 billion is set aside for Humvees, while $500 million will be requested for the Mine-Resistant Armor-Protected Vehicle.
Over-the-counter shares of Force Protection inched 1.75% higher yesterday to $17.90, up from less than a buck a year ago.
-------------------- "Great Day for Up!"....Dr. Seuss Posts: 3387 | Registered: Mar 2006
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