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Author Topic: FRPT 50M$ contract with US Army
Slimpickens
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looks like everything is setting up perfectly.

financials followed by contract, then followed by big contract.

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Slim

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Slimpickens
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quote:
Originally posted by Repoman75:
Earnings tonight?? PR tomorrow?!?!?!

OH SH!T! Buy in now!!! .06 estimates!? They will blow them away by at least .10!!!

Next Report Date Feb 20, 2007
FORCE PROTECTION INC. (NASDAQ)
FRPT 20.06 0.95 (4.97%) Vol. 2,199,140 12.00 CST
Current Quarter Estimate .06 Next Report Date Feb 20, 2007
Next Quarter Estimate .09 EPS last quarter .06
Current Year Estimate .12 Last Quarter EPS Surprise %
Next Year Estimate .58 Last Year's Earnings .12
Expected Earnings Growth 30% Forward Projected PE 29.00
Expected Sales Growth 202.8% ABR 1.33

http://www.zacks.com/research/report.php?type=estimates&t=FRPT

hey repo i went to the site and all they did was change the date for the next report date to feb. 21. wtf i don't understand why they are putting the current date as the next reporting date seems misleading.

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Slim

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Slimpickens
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seems to be just the date they updated their report, and not the date they expect the next report by the company

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Slim

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Repoman75
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yeah. Zack's sucks.

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Stick with Repo's plan in '07 - FRPT/DKAM!

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moose5150
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Pretty quiet in here, slipped to the second page.
Anything new going on here?

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cpeed
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Anyone know why this is gapping down so hard?
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Jo4321
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Cspeed, basically it is because the Marines ordered more MRAP'S from some other vendors. Still FRPT has the majority of the current orders, and the potential for the majority of the rest, however, people are very fickle.

--------------------------

U.S. Marines Order More MRAPs

Posted 02/26/07 13:29
Print this story
U.S. Marines Order More MRAPs

By KRIS OSBORN

The U.S. Marine Corps ordered another 180 of the heavily armored Mine Resistant Active Protection vehicles (MRAPs) on Feb. 23, part of its effort to accelerate production and deliver 4,100 MRAPs to the U.S. military by the end of the year.

The $79 million contract from U.S. Marine Corps Systems Command (MCSC) in Quantico, Va., awards 20 of the improvised explosive device (IED)-stopping vehicles to General Dynamics Land Systems (GDLS) Canada for $11 million; 100 vehicles to Oshkosh Truck, Wis., for $30.6 million; and 60 vehicles to Protected Vehicles, Charleston, S.C., for $37.4 million.
MCSC is the lead on a joint-service effort to buy more than 6,738 MRAPs for the U.S. Army, Marine Corps and Navy. The Marines have more than doubled the number of MRAPs it plans to order from 1,022 to 3,700.

In January, the Corps ordered four test vehicles from nine different vendors in an effort to boost industry production and field MRAPs as quickly as possible. The $43 million deal gave each of the contractors 60 days to deliver the vehicles for testing.
But ;MCSC has already begun ordering additional vehicles. ;Corps officials, who want the MRAPs as soon as possible, went to vendor locations and examined the materials and design of the vehicles.

“It’s an aggressive campaign,” said MCSC spokesman Capt. Jeff Landis. “We are able to award based on the design and the survivability properties of the materials being used. That is how we can expedite contracting prior to official testing at Aberdeen.”

This new order follows a Feb. 15, $122 million contract award that ordered 90 MRAPs from BAE and 125 from Force Dynamics, a joint venture of GDLS and Force Protection. In total, these two contracts disperse delivery orders among five of the nine vendors that were given money in January.

Army Maj. Gen. Jeffrey Sorenson, deputy for acquisitions and systems management, said he wondered whether dispersing vehicle orders among so many different vendors might complicate maintenance and supplies in theater. Sorenson said simultaneously fielding a host of different models of the same vehicle would not work as a long-term option in a war zone.
Landis said each vendor will send representatives with parts and manuals to deploy with their MRAPs.

Each vehicle will be outfitted with gear at a U.S. military facility in Charleston, S.C., before deploying aboard ship or a C-5 airlifter.
Oshkosh is offering the 13-ton Bushmaster armored vehicle currently in use by the Australian Defense Force and Dutch Army. Oshkosh marketing manager Joquin Salas said the vehicle has endured 12,000 miles of reliability testing, and comes in command-and-control, ambulance and mortar-carrier versions. The vehicle’s V-hull contains the whole drive train, including engine, transmission, transfer case and drive shaft.

The two-year-old Protected Vehicles says it is close to finishing the Golan, an MRAP demonstrator based on a four-wheel-drive armored vehicle with insensitive explosive reactive armor tiles manufactured by Israel-based Rafael. The Golan vehicle is currently being tested in Israel by the Israeli Defense Forces.
The vehicle might be equipped with a lightweight armor composite called ShieldAll.

“In order to stop a 7.62 x 54mm armor-piercing round, you need a little more than 30 pounds of armored steel. ShieldAll can stop the same round for a little over 10 pounds per square foot. Also, ShieldAll has multi-hit capability,” said Protected Vehicles program manager Drew Felty.
General Dynamics Land Systems-Canada is working with BAE to build MRAPs based on the RG-31 Mk5. Under the deal, GDLS-Canada will manage the program and BAE Land Systems will build the vehicles in York, Pa.

The U.S. Army ordered 265 of them in October, said Ken Yama****a, corporate affairs manager with GDLS-Canada. •
E-mail: kosborn*defensenews.com.

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

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Jo4321
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Hey Repoman, did you get your PM privileges taken away?

Jo

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cspaude
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The b!tch strikes again.
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Mortimer
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ouch.

No panic........yet.

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Jo4321
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Man this was an ugly day.


From Yahoo Headlines

http://biz.yahoo.com/ap/070226/force_protection_mover.html?.v=1


AP
Force Protection Slides in Trading
Monday February 26, 4:37 pm ET
Force Protection Declines As Rival Wins $30.6 Marine Corps Vehicle Order


NEW YORK (AP) -- Shares of military contractor Force Protection Inc. fell Monday after rival Oshkosh Truck Corp. signed a $30.6 million Marine Corps contract to build combat vehicles.
Shares of Force gave up $2.89, or 14.5 percent, to $17 on the Nasdaq Stock Market.


On Monday, Oshkosh said it will provide 100 military trucks designed to protect occupants from mines and improvised explosive devices under its "Mine Resistant Ambush Protected" vehicle program. Oshkosh plans to ramp up its production schedule and deliver the first units within 120 days.
In January, the Defense Department named a slate of companies awarded contracts for up to 4,100 Mine Resistant Ambush Protected vehicles for the Marines and other military services.

C.E. Unterberg Towbin analyst James McIlree said Force is seeing greater risk amid greater competition.

"Clearly the Marines continue to keep their options open, as well as pressuring all vendors to quickly bring up capacity," McIlree wrote in a client note.

But McIlree kept a "Buy" rating on Force, saying that the company will gain from the Marine's Mine Resistant Ambush Protected vehicle program, which has expanded from 1,200 vehicles to at least 6,700 vehicles for the Marines, Army and Navy.

"While the number of participants in the program is greater than we anticipated we continue to believe ultimately two or three vendors, with field-proven vehicles and productive capacity, like Force Protection, will end up with the majority of the task orders," McIlree wrote.

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

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Slimpickens
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quote:
Originally posted by Jo4321:
No guarantee that anything will be released tommorrow. They can release any time on or before March 1 (60 days from December 31) according to new SEC rules.

http://www.sec.gov/answers/form10k.htm

Jo

Jo, i went to the link and could not find the part about 60 days, could you help me out?

and you mail box is full.

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Slim

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Slimpickens
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quote:
Originally posted by Slimpickens:
quote:
Originally posted by Jo4321:
No guarantee that anything will be released tommorrow. They can release any time on or before March 1 (60 days from December 31) according to new SEC rules.

http://www.sec.gov/answers/form10k.htm

Jo

Jo, i went to the link and could not find the part about 60 days, could you help me out?

and you mail box is full.

never mind i found it, just overlooked it the first time.

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Slim

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Jo4321
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Now folks are saying that they may not fall under the "Large Accelerated Filer" because of the date of the private placemetn. So therefore, earnings may not have to be reported until 75 days or 90 days out (March 15 or March 30) depending on which of those other two categories they fall into.

Jo

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

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PCola77
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Getting slammed again today.

Good luck to those of you still holding. I hope it turns around for you!

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Jo4321
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PCola, With you and Repoman now out, I feel lonely. (and a bit stupid)

I did sell some at $20.10 the day before yesterday before the big dip, but I stupidly bought them back in the 17's thinking that surely it wouldn't go lower than that!

I'm feeling kind of ill today!

We've been here before though (the 16's) so I think it'll recover. I sure wish I had waited to buy at these levels instead, though.

Jo

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

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PCola77
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I didn't know that Repo was out. I actually ended up a bit "lucky" on this one.

I set a stoploss for $17 after averaging in at about $20.

Turns out I forgot to set it at GTC, so even though it went below $17 after that, and I thought I had stopped out, I didn't. I ended up selling at like $18.75 last week for a "extra" 10% on what i thought I had sold for.

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Jo4321
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I think Repo may be back in now, if he's the same Repoman57 that posts on RB.

Where are you Repo? It's okay, we don't hate you because you shorted! Turns out that was the smart move.

Jo

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

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Mortimer
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Jo, I'm still in. FWIW.

I'm averaged in around the 11's and I probably should pull half my position until this market finishes its "quite time looking at itself". I dunno, I just feel blahzay today. IMO, this stock really isn't getting slammed so bad today. Yesterday though,.....oy vey!

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Jo4321
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Re: Stars and Stripes - Military speeding purchase of new vehicles - February 28, 2007

http://www.estripes.com/article.asp?section=104&article=43910

Military speeding purchase of new vehicles


Stars and Stripes,
Mideast edition, Wednesday, February 28, 2007


ARLINGTON, Va. — The Army’s goal is to purchase up to 18,000 vehicles designed to stand up better against roadside bombs to augment its fleet of up-armored Humvees, said Army’s the director of Force Development.

The new vehicles could be a combination Mine Resistant Ambush Protected Vehicles and Joint Light Tactical Vehicles, Brig. Gen. Charles A. Anderson told reporters Tuesday.

The Army has already asked for money to buy 2,500 MRAPs, which have V-shaped hulls to deflect blasts and have proven to provide more protection against roadside bombs than Humvees.

Anderson said the Army also plans to accelerate the deployment of the JLTV, which is currently in developmental testing.

“The Joint Light Tactical Vehicle, right now, is supposed to come to the Army in 2012,” Anderson told reporters Tuesday. “Well, that’s too late for us. We want to accelerate the JLTV to the left, bring it earlier.”

The Army hopes to start buying the JLTVs, which will ultimately replace the Humvee, in 2009 or 2010, Anderson said.

Anderson could not say Tuesday when the Army hopes to have all of the 18,000 new vehicles.

Meanwhile, the Marine Corps plans to field 3,377 JLTVs through fiscal 2013, after which the JLTV will replace the Humvee as the Corps’ primary tactical vehicle.

The Corps also plans replace all of its up-armored Humvees in Iraq with about 3,700 MRAP by the end of 2008.

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PCola77
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getting smoked again today.

I may buy back in soon.

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Jo4321
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PCola, some things to think about when deciding the timing of your "re-entry". (how I wish I was in your shoes and had some $$$ to get in at these prices).

The new Buffalo Order will probably be formally announced on March 5th. http://www.fbo.gov/spg/USA/USAMC/DAAE07/W56HZV07R0343/SynopsisP.html


Bob Woodward is doing a series of stories on his experience in Iraq (he's the reporter who was hit with an IED).

http://abcnews.go.com/WNT/WoodruffReports/

I didn't see it on TV, but others on IV did and apparently at the end, he talked about upcoming segments he will be doing and he appeared in the FRPT factory in South Carolina. So there is likely to be a segment on FRPT in the future on ABCNews or Nightline.

Here's what the Sarasota_Sam posted on IV:
quote:
Bob Woodruff and FPI

Just saw ABC Nightline. It was a recap of Bob Woodruff's injury last tear in Iraq.

Nightline was talking about what his future reports would be about and there was Bob interviwing FRI'S VP Aldrich!!

He is going to do a special report on FRPT' and our vehicles.

There was a shot of the assembly area and an absolutly beautiful video of the mine blast test of the Cougar...BIG blast , Fire, smoke, and that damn vehicle didn't budge an inch. This preview and that segment will do wonders for our company!!!

Earnings could be any time before March 15. (and maybe even as late as March 30, depending on what type of filer they are)

Jo

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

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PCola77
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thanks jo. Although my shoes aren't that great [Smile]
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TimW
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I do believe thats it for the red days..

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Buy high, sell higher.

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Slimpickens
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working on a little comeback now

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Slim

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Jo4321
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I wouldn't mind it going up in .40 - .50 increments like this, up until earnings and/or the Buffalo contract is announced.

When it goes up to fast, it falls too fast.

Nice to see green today, but it will be a while until I truly see green in my account.

Jo

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Jo4321
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Armored Humvees are Not the Answer

http://www.americanchronicle.com/articles/viewArticle.asp?articleID=21440

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PCola77
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By the way Jo, Repo asked me to let you know that he is still in FRPT.
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Repoman75
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Still in! But I'm taking a break from this board...

Remember, EARNINGS - make us or break us.

--------------------
Stick with Repo's plan in '07 - FRPT/DKAM!

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Jo4321
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Yeah, it's the "break" part I worry about.

Can anyone really explain how earnings affect a stock? I thought always earnings up meant good for pps. This seemed very true with SPAR in Feb when they reported good profits and soared over $6.00 in one day. But then look at CRDN, which reported that its profits doubled and then the pps sank. Is it just a crap shoot how the market will react to earnings at any time?

Jo

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PCola77
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Jo, it depends more on what the earnings look like relative to expectation. Like if analysts expected revenue to triple, revenue doubling is bad news. the tripling of revenue was already priced into the share price, so "just" doubling removes some amount from the shaer price.

Hopefully that's what you were asking.


quote:
Originally posted by Jo4321:
Yeah, it's the "break" part I worry about.

Can anyone really explain how earnings affect a stock? I thought always earnings up meant good for pps. This seemed very true with SPAR in Feb when they reported good profits and soared over $6.00 in one day. But then look at CRDN, which reported that its profits doubled and then the pps sank. Is it just a crap shoot how the market will react to earnings at any time?

Jo


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Jo4321
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Cheetah Vehicle Production Version Headed to AUSA Winter Symposium and Exposition

IN THE NEWS


Cheetah Vehicle Production Version Headed to
News on the FRPT website:

http://www.forceprotection.net/news/news_article.html?id=159

AUSA Winter Symposium and Exposition
Publisher: Force Protection, Inc.
Date: 03/01/2007

The Cheetah Production Version is headed to the AUSA Winter Symposium and Exposition at the
Broward County Convention Center in
Ft. Lauderdale, FL March 7-9, 2007.


Jo

PS: Thanks PCola for the explanation

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Mortimer
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quote:
Originally posted by PCola77:
Jo, it depends more on what the earnings look like relative to expectation. Like if analysts expected revenue to triple, revenue doubling is bad news. the tripling of revenue was already priced into the share price, so "just" doubling removes some amount from the shaer price.

I agree PCola, but will add that I think confident forward guidance/outlook comes into play as well. If the pps is at a level that is already thought to be in line with expected earnings, then what could be the other catalyst(s) that spur pps to increase?

With the FRPT earnings, I'm just hoping that the news will stabilize the stock and better define a support level. What I'm really waiting for is "that bigger news" to fling the pps into the stratosphere.

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Jo4321
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Force Protection, Inc. Production Rates Reach Record Levels in February

Last update: 3/2/2007 8:45:14 AMLADSON, S.C., Mar 02, 2007

(BUSINESS WIRE) -- Armored vehicle manufacturer Force Protection, Inc. (FRPT) today announced that its production rates reached record levels as it delivered more Buffalo and Cougar vehicles to the U.S. government in February. "We've once again broken our monthly vehicle delivery record," said Force Protection Vice President for Vehicle Programs Damon Walsh. "We will continue working to expand our monthly production to meet the expected increase in orders for our vehicles."

Force Protection's Buffalo and Cougar mine-protected vehicles have logged more than two million hours of heavy combat operations and have withstood in excess of 2,000 explosive attacks since they were first deployed in 2003.

"All of our production programs are on or ahead of schedule," said Walsh. "We have fully completed the Cougar Joint Explosive Ordnance Disposal Rapid Response Vehicle (JERRV) program requirements and are delivering ahead of schedule on our Buffalo and Iraqi Light Armored Vehicle (ILAV) contracts. This month also marks the first deliveries of Mine Resistant Ambush Protected (MRAP) vehicles for both the sole source and competitive contracts. In the next two months, as we finish the UK Cougar Mastiff contract, Force Protection will stand ready to devote our full capacity to meet the needs of the Mine Resistant Ambush Protected (MRAP) program."

Force Protection, through its joint venture company, Force Dynamics, LLC, with General Dynamics Land Systems, a business unit of General Dynamics Corporation (GD), was awarded an initial delivery order for 125 Cat I and Cat II vehicles from the U.S. Marine Corps under the MRAP program on February 14, 2007. This followed Force Protection's sole source award for 200 MRAP

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cspaude
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When FRPT was climbing, Melissa Davis(thestreet's paid basher) tried to spark fears that 'little ol' Force Protection' would never meet production demands and that's why the DoD would never pick them. I guess that article is FRPT's way of shoving it up her a$$.
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