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Wow, what happened to this? I remember last time I looked at it, it was about $22/share.
Posts: 854 | From: Alpharetta, GA | Registered: Mar 2006
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Looking at MMS this morning- looks like she's gonna start off okay. Cross dem fingers...
Posts: 949 | From: Little Rock, AR | Registered: Dec 2005
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Message from the Chief Executive Officer, Force Protection Inc.
While it is generally not the policy of the Company to comment on rumors or speculation regarding the Company, we believe that we need to address significant misinformation about the Company and to update our shareholders on Force Protection's financial posture and dispel unfounded rumors amongst the shareholder base, the investment community, and elsewhere:
FINANCES The Company's current cash position is strong with over $60 million in liquid assets, virtually no debt, and a significant capacity to access debt capital as necessary. Given our recent growth, the Company does routinely explore a variety of financial instruments that provide greater financial flexibility and have historically supported our growth as an enterprise. We believe our public disclosures of financial performance are evidence that these decisions have led to effective use of capital. We believe concerns about investments in the development of our next generation of product, the Cheetah, seem shortsighted. We believe that no other contractor in our industry develops vehicles faster, or makes more efficient use of capital in the related production ramp up, than Force Protection. Our record thus far supports that belief, and we intend to carry that record into the future.
MRAP RESPONSE Let me also re-emphasize our commitment to urgent operational need requirements as issued by major ground commanders in Iraq/Afghanistan and contracted by the MRAP joint program office. Not only is this the most important program in the United States Department of Defense, it is a program that our vehicles helped create. As early as July 2003, we were delivering Buffalo mine-protected clearance vehicles to the Army Corps of Engineers in response to urgent needs in Afghanistan. Our Cougar vehicles have undergone four separate upgrades in protection levels since their first fielding in 2004. In total, they have saved tens of thousands of lives, which would have been lost to IEDs or landmines, in a lesser vehicle. They have not just been tested – they have been proven against a vicious and determined enemy. When United States tactical wheeled vehicle fleets showed a vulnerability to blast attack, these vehicles stopped the bleeding. Requirements will rise and fall by theater, month-to-month, but until MRAP vehicles are integrated into all service units in significant numbers, the attacks will persist. We have just begun to make an impact, not completed the task.
Some have also said that Force Protection is too dependent on one customer, but let's take a closer look at that "one customer." Within the DoD, we are servicing all of the individual services with MRAPs and the joint EOD Rapid Response vehicle; the Army Corps of Engineers is the principal consumer of Buffalo MPCVs, but the Marine Corps now owns several dozen as well. A robust spare parts and support business is delivered through the Defense Logistics Agency as well as through each of the separate services and our international customers. In short, we have multiple customers with demand for both our vehicles and our services to support and sustain the vehicles after delivery. Foreign military sales have also been sponsored by DoD and generated deliveries to the United Kingdom, Iraq, and Canada. We are optimistic regarding further foreign military sales orders.
FORCE DYNAMICS We have a strong and effective joint venture with General Dynamics Land Systems, called Force Dynamics. This joint venture now produces more MRAP vehicles in one month (300 +) than Force Protection delivered in all of last year (2006: 296 total vehicles). Force Dynamics is the documented and recognized leader in MRAP deliveries of Category I and Category II vehicles, while Force Protection alone continues ahead of schedule on its sole-sourced Category III Buffalo deliveries. We are standing by for more orders, and we can still do more.
CHEETAH We are confident that the attributes of our Cheetah vehicle are consistent with those cited by senior military officials who set the requirements for the next generation of tactical, wheeled, blast and ballistic protected vehicles. These qualities and features, along with the existence of an operating manufacturing facility to produce them, once again puts Force Protection in an excellent position going forward.
FUTURE COMMUNICATIONS - GLOBAL MARKETS No other company offers the range of choices in weight class, configurations, or mission-specific attributes to the multiple customers purchasing MRAP-type vehicles. No other company has demonstrated the production capacity equal to the Force Protection, Inc.-led network of companies. No other company's products even come close to the battle record of protection of both Buffalo and Cougar. In my next message, I look forward to discussing how our newest production success, Cheetah, will address future demand for the vehicles of Force Protection.
Posts: 3387 | Registered: Mar 2006
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In all seriousness, what a great letter from the CEO. Well-written and brimming of confidence.
Posts: 949 | From: Little Rock, AR | Registered: Dec 2005
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The wild ride at Force Protection (FRPT) continues, with the CEO putting the brakes on a plunge that had left the company's shares parked dangerously close to penny-stock territory.
After remaining largely silent in the face of bad news, CEO Gordon McGilton reassured investors about Force Protection's prospects Friday and sent the company's stock rocketing higher in the process. The shares, which slipped below the crucial $5 level earlier this week, jumped 28% to $6.75 in heavy trading on Friday.
In a statement on Force Protection's Web site, McGilton insisted that demand should remain strong for the company's mine-resistant ambush-protected vehicles. Moreover, he suggested that prospects look bright for its new lightweight Cheetah -- a possible Humvee replacement -- as well. He also portrayed the company's financial position as strong and its capital-intensive expansion plans as sound.
As a result, for the first time this month, Force Protection investors finally felt sheltered from bombshells. In recent weeks, hit by a string of negative developments, even loyal Force Protection fans had started to lose some faith in the company and its tight-lipped leader. Prior to Friday's rise, shares had tumbled 51% since the beginning of December.
With doubts about its prospects growing, Force Protection no longer enjoys the same bullish following that it once did. Just one day before McGilton finally spoke out, in fact, Dougherty analyst Joe Maxa scaled back his own projections for the company. Maxa's firm makes a market in the company's securities.
Maxa was still recommending Force Protection's stock this week at just below $5 a share. However, with Maxa's 2009 estimates now falling "significantly below" those for 2008, Force Protection doesn't exactly look like a blockbuster growth company anymore.
Indeed, to some, future demand for Force Protection's vehicles looks shaky at best. If the MRAP program does in fact shrink, as most experts now expect, Force Protection could see sales of its flagship Cougar vehicles fall sharply down the road. Moreover, with the company's lightweight Cheetah failing an early test overseas, the company could find itself struggling to offset those lost Cougar sales.
Notably, Bloomberg reported on Tuesday, the U.K. recently eliminated the Cheetah from a vehicle competition after it fell short of "a number of key user requirements" set forth under that program.
Still, Force Protection itself remains upbeat. The company is pouring huge sums into a new facility to manufacture Cheetahs despite a lack of orders for the vehicles so far. In his update on Friday, McGilton defended that investment and portrayed the Cheetah as a desirable vehicle that will put the company "in an excellent position going forward."
Meanwhile, some experts never lost their faith in the company at all.
Even before McGilton's public statement, Collins Stewart analyst James McIlree was defending Force Protection and downplaying the company's recent setbacks. Indeed, just this week, McIlree predicted that Force Protection would enjoy strong future demand for its Cougars and Cheetahs alike.
Within weeks, in fact, McIlree expects Force Protection to score a full third of this year's final MRAP order. Looking further ahead, he believes that Force Protection will remain busy producing Cougars in 2008 before shifting its major focus to Cheetahs the following year. Despite the current lack of orders, McIlree suspects that Force Protection could be cranking out some 1,800 of the lightweight vehicles by 2009.
He continues to recommend the company's stock, which he values at $12 a share, in the meantime. His firm has investment banking ties to the company.
Until McGilton spoke out, investors seemed to be listening to bearish analysts instead. After months of following the defense industry in general -- and warning about Force Protection in particular -- Stanford analyst Josephine Millward formally initiated coverage of Force Protection with a sell recommendation on Monday. The stock lost one-quarter of its value in response.
Even after Friday's huge gains, the shares still command less than they did when Millward issued her report. But Millward, for one, still sees room for further downside ahead.
She sees slowing demand for Force Protection's Cougar and limited prospects for its new Cheetah as well. She believes that Force Protection will miss Wall Street estimates in 2008 and suffer a big slowdown in 2009 as a result.
Millward recommends that investors sell Force Protection's stock before that happens. Ultimately, she believes the stock will fall back down to $5 a share. She sees only three key risks to her target -- a buyout, a troop surge or a Cheetah boom -- but downplays all three as unlikely in the end.
-------------------- "Great Day for Up!"....Dr. Seuss Posts: 3387 | Registered: Mar 2006
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quote:the U.K. recently eliminated the Cheetah from a vehicle competition
Has anyone found an article or details of this? It's no surprise she's trying to dog this stock. I'd like to know her real motivation.
Posts: 205 | Registered: Mar 2006
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quote:Originally posted by wdcisco: lionmaster called this on thelion.com...
Damn he's good...
several other people called this- I don't know why he deserves any more credit than anybody else.
Posts: 949 | From: Little Rock, AR | Registered: Dec 2005
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quote:Originally posted by wdcisco: lionmaster called this on thelion.com...
Damn he's good...
several other people called this- I don't know why he deserves any more credit than anybody else.
You obviously don't know lionmaster than, or know his track record. He calls the best big board plays/bounces than any poster on any board! I challenge you to direct me to a better poster....You can't!!! He called dozens of ***********s this year, and these are big board stocks so you can put in big Money, and margin if you choose(not that I recommend it). He called, LUM, TARR, BHIP, VG, IOC, so many monster calls I can't even remember them! over 20 this year that at least doubled!
LoL...several posters said that FRPT will bounce In general(Which was obvious), but not many picked the day and time that it actally did! The Lionmaster and I_love_bb_stock at Ihub called it dead on. They are my two favorite posters on any board!
Posts: 2321 | Registered: Aug 2006
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quote:Originally posted by wdcisco: lionmaster called this on thelion.com...
Damn he's good...
several other people called this- I don't know why he deserves any more credit than anybody else.
You obviously don't know lionmaster than, or know his track record. He calls the best big board plays/bounces than any poster on any board! I challenge you to direct me to a better poster....You can't!!! He called dozens of ***********s this year, and these are big board stocks so you can put in big Money, and margin if you choose(not that I recommend it). He called, LUM, TARR, BHIP, VG, IOC, so many monster calls I can't even remember them! over 20 this year that at least doubled!
LoL...several posters said that FRPT will bounce In general(Which was obvious), but not many picked the day and time that it actally did! The Lionmaster and I_love_bb_stock at Ihub called it dead on. They are my two favorite posters on any board!
Right on Ace..! On another thread we were discussing his calls...so I thought I would be good to know... Posts: 1075 | From: weeeeeeee | Registered: Sep 2007
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Thelionmaster from his exhalted site "in FRPT here at $4.88, trading near cash levels here. "
Danny12345 got in at $4.75 (he told me)... I got in at $4.80 (see above). I make no claim to be better or worse than lionmaster- whoever he is. Presumably, we all got in at this PPS because we thought it would bounce from there. Otherwise, why would we buy it?
Maybe he has a spectacular track record. Maybe he can turn water into wine and fly a DC-10, blindfolded with his feet- I just don't think it's particularly relevant to post this after the fact. If someone posted here something like this _before_ the run:
"lionmaster likes FRPT at $4.88 because of (Reason X)."
it would seem more appropriate.
I'm glad you like his picks- me, I don't put my faith in any one poster simply based on track record. I gotta see the facts, the filings, the charts and sometimes, smell the MOMO.
Ace buddy, I reject your challenge simply because it's irrelevant to me. That said, I have nothing against him - or those who drool over his picks. Good luck to you.
Posts: 949 | From: Little Rock, AR | Registered: Dec 2005
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quote:Originally posted by TimW: THe only reason he "makes the calls"
Is as soon as he "makes the calls" 10,000 little investors go oooo he "made the call" lets jump on board.
He sells his position after his 10,000 new friends run the price up.
No one that makes "picks" are interested in you making money. They are using you to inflate the price so THEY can sell.
You have know clue what you're talking about! FRPT is one example....There are others nobody else called...IT has nothing to do with his following....He is just good at calling the shots.
Posts: 2321 | Registered: Aug 2006
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quote:Originally posted by wdcisco: I'd also like to throw in that it was a pincher play as well...(refer to the P.P.P. Board for any questions)...
and Bilgert FWIW nice call buddy! --didn't mean to piss you off..
You didn't piss me off- and sorry if I came out that way- and thanks for the accolades, although I wasn't looking for them.
My bigger point is that while I might be interested in what certain posters have to say, I would never buy into a company simply because they said they bought into it. I think that was in danger of being implied.
That said, lemme try and bring things back to FRPT. I'm hoping for $8- and the CEO alluded to another PR or shareholder letter coming around the corner, so let's just hope that does the trick...
Posts: 949 | From: Little Rock, AR | Registered: Dec 2005
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quote:Originally posted by TimW: THe only reason he "makes the calls"
Is as soon as he "makes the calls" 10,000 little investors go oooo he "made the call" lets jump on board.
He sells his position after his 10,000 new friends run the price up.
No one that makes "picks" are interested in you making money. They are using you to inflate the price so THEY can sell.
I don't think that's unconditionally true- but you gotta watch those picks with a little skepticism.
Posts: 949 | From: Little Rock, AR | Registered: Dec 2005
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Force Protection Inc HOLD NASDAQ: FRPT, $5.26 Upgraded 12/15/07 United States Columbine Capital's Investment Conclusion The Columbine research team projects that Force will perform in line with the market over the next 6 to 12 months.
The team has ranked it Neutral and recommends that investors maintain any existing position, but do not add to it.
Forecast Earnings Yield is Very Attractive The expected return (in earnings per share) for the purchase price of a company?s stock is one of the most basic measures of a firm?s intrinsic value. By comparing the consensus earnings estimates from Wall Street?s analysts with the current stock price we can focus our evaluation on the firm?s potential earning power. This is the most important valuation measure in this sector. At its current price of $6.85, we consider Force greatly under-valued. ----------------------------------------------
Looks like this was penned on Thursday night (when the price was $5.26), but they updated it in the body with the $6.85 price.
The Pentagon plans to order about 3,000 more Mine Resistant Ambush Protected (MRAP) vehicles the week of Dec. 17, marking the largest MRAP order to date, Pentagon officials said. The 3,000 will be split up among the three main MRAP vendors chosen by the U.S. Defense Department during the down-select process in October: Force Protection, Navistar International and BAE Systems. The order will substantially add to the 8,800 MRAPs placed on order thus far by the Defense Department. Overall, the Joint Requirements Oversight Council has approved the purchase of 15,374 vehicles. In an effort to rev up production capacity, Pentagon leaders have set the goal of producing up to 1,200 MRAPs per month by early 2008. However, November MRAP production was only 805 vehicles, more than 100 below the monthly goal. One analyst said the next order could have been substantially larger had the production goal been met. “Because production fell short last month, it is likely the Pentagon will only be able to immediately order the production of approximately 3,000 vehicles, at a pace of 1,000 per month,” said Jim McAleese of McAleese and Associates, a national security law firm. “If contractor production had been able to credibly achieve 1,100 to 1,200 a month, this could have resulted in an immediate order of up to 3,500 vehicles,” McAleese said. “Secretary [John] Young [Pentagon acquisition chief] has been a powerful advocate for protecting those specific contractors who are aggressively meeting their monthly production quotas.”
Posts: 949 | From: Little Rock, AR | Registered: Dec 2005
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Türk Ordusu Mayına Dayanıklı, Pusu Korumalı MRAP zırhlı araçlarıyla donatılacak. ''Yürüyen kale'' ismi de verilen MRAP türü zırhlı araçlardan, iki ayrı paket halinde en az 400 adet alınması planlanıyor.
AA muhabirinin aldığı bilgiye göre, ''Mine Resistant Ambush Protected'' kelimelerinin kısaltmasıyla isimlendirilen, Mayına Dayanıklı Pusuya Korumalı (MRAP) zırhlı araçlar, son derece gelişmiş zırh koruma ve dayanıklılık sistemi sayesinde, hiç bir mayın saldırısından etkilenmiyor. Bu araçlar halen Afganistan ve Irak'ta Amerikan askerleri tarafından kullanılıyor ve uzaktan kumandalı mayın saldırılarında dahi askeri birlikleri koruyabiliyor.
ABD'nin Irak'taki askeri kayıplarının yüzde 70'den fazlasının, yollara döşenen mayınlar yüzünden olması üzerine çözüm arayışına gittiğini belirten savunma sanayi uzmanları, Amerikan Ordusunun, yollara döşenen mayınlardan asker kaybını önlemenin tek çaresini, mayına dayanıklı araç temin etmekte bulduğunu vurguluyorlar. ABD Ordusu, gelecek yılları da kapsamak üzere 7 binin üstünde MRAP siparişi vermiş durumda.
-MAYINLI PUSULARDAN ETKİLENMİYOR...
Türk Ordusunun da bundan böyle mayına dayanıklı araçlar üzerinde yoğunlaşacağı belirtilirken, alınacak MRAP zırhlı araçlarının 15+2 kapasiteli olacağı ifade ediliyor. Dünyanın en gelişmiş ve güçlü koruma sistemine sahip olan MRAP türü araçlar, askeri birliklerin en çok karşılaştığı sorunlardan biri olan mayınlı pusulardan etkilenmiyor. Her türlü arazi ve iklim şartında çalışabilen bu zırhlı araçlarda, iki ayrı paket halinde, en az 400 adet alınması planlanıyor. Yol kenarına yerleştirilen bombalara karşı askerleri korumak için ''V''şeklinde gövdeye sahip yüksek şasili bu araçlar, en yoğun çatışma bölgesinde bile güvenlik sevkıyat sağlıyor.
-''YÜRÜYEN KALE'' OLARAK DA İSİMLENDİRİLİYORLAR...
Verilen bilgiye göre ''Yürüyen Kale'' ismi de verilen bu kategorideki araçlar, en güçlü zırha sahip olan Humvee türü zırhlılardan bile kat kat dayanıklı. 4x4 ya da 6x6 modelleri bulunan MRAP türü zırhlı araçlar, askeri birliklerin,çatışma bölgelerine hızlı ve tam güvenli şekilde intikal etmesini sağlarken, kendi savunma sistemine sahip olmasının yanı sıra komuta-kontrol aracı olarak da kullanılabiliyor.
AA Yayın Tarihi : 27 Kasım 2007 Salı Güncelleme :27 Kasım 2007 Salı
Posts: 949 | From: Little Rock, AR | Registered: Dec 2005
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TSK MRAP customer Turk Army Floating mine Lasting , Ambush Saving MRAP armoured araçlarıyla donatılacak. ''Yürüyen fortress ismi even if data MRAP genesis armoured araçlardan , having two faces apart packet carpet minimal 400 number inclusion planlanıyor. AA muhabirinin take notice of knowledge according to ''Mine Resistant Ambush Protected'' kelimelerinin kısaltmasıyla isimlendirilen , Floating mine Lasting Ambush Saving MRAP ) armoured means , the uttermost developed armour saving and stamina system thanks to , no one each floating mine saldırısından smitten. This means now Afganistan and Irak American military by kullanılıyor and from far-off command floating mine saldırılarında dahi military birlikleri koruyabiliyor. ABD'nin Irak'taki military kayıplarının commission fazlasının , shipment floor covering floating mine on account of unprecedented about solution after gittiğini adverb defence industries province , American Ordusunun , shipment floor covering mayınlardan soldier loss repression a single thing çaresini , floating mine lasting means making sure do bulduğunu vurguluyorlar. ABD Army , future take on years even if comprise at the point of 7 rider on MRAP order give position. MAYINLI PUSULARDAN ETKİLENMİYOR. Turk Ordusunun even if henceforth floating mine lasting means upon yoğunlaşacağı belirtilirken alınacak MRAP armoured araçlarının 152+ capacity which will happen explanation ediliyor. World most developed and strong saving system owner possibility MRAP genesis means , military birliklerin most comparison sorunlardan one of them possibility floating mine pusulardan smitten. Whatever estates and climate şartında çalışabilen this armoured araçlarda , having two faces apart packet carpet , minimal 400 number inclusion planlanıyor. Comrade on fitted bomb opposed to military defend in ''V''şeklinde body owner high chassis this means , most thick skirmish bölgesinde even security dispatch life. ''YÜRÜYEN Fortress OLARAK EVEN IF İSİMLENDİRİLİYORLAR. Data knowledge according to ''Yürüyen Fortress ismi even if data this kategorideki means , ruling armour owner possibility Humvee genesis zırhlılardan even fold fold lasting. 4x4 or even if modelleri situated MRAP genesis armoured means , military birliklerin,çatışma bölgelerine quick and complete secure form transition etmesini sağlarken , self defence system owner olmasının combustible row command - control mediator olarak even if practicable. AA Publication Historic : 27 November 2007 Tuesday Güncelleme :27 November 2007 Tuesday
Posts: 1075 | From: weeeeeeee | Registered: Sep 2007
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