posted
So in October the DoD said it planned to order 6,500 in December. Granted the latest article said 3,000 for the "WEEK of Dec. 17th" but the way the rest of it reads, I doubt any more will be awarded for the month. I suppose Melissa will turn that into ammunition against FRPT.
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posted
FRPT Alert in News Feed See the reseach on theflyonthewall.com News Breaks December 17, 2007 15:40 EDT FRPT theflyonthewall.com: Pentagon says plans potential $147M sale to Britain of MRAP trucks built by FRPT This is being reported by Reuters. :theflyonthewall.com
-------------------- "Great Day for Up!"....Dr. Seuss
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posted
Would love to get back in at some point- it's been a hard one to chart inter-day though. I still think $8 is possible down the road- it just looks like the road is kinda bumpy.
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quote:Originally posted by Jo4321: FRPT Alert in News Feed See the reseach on theflyonthewall.com News Breaks December 17, 2007 15:40 EDT FRPT theflyonthewall.com: Pentagon says plans potential $147M sale to Britain of MRAP trucks built by FRPT This is being reported by Reuters. :theflyonthewall.com
Pentagon plans $147 mln truck sale to Britain Mon Dec 17, 2007 3:56pm EST WASHINGTON, Dec 17 (Reuters) - The Pentagon told Congress Monday of a potential $147 million sale to Britain of 170 trucks designed to withstand roadside bombs used against allied forces in Iraq and Afghanistan.
The main contractor for the mine-resistant, ambush-protected (MRAP) vehicles would be Force Protection Industries Inc (FRPT.O: Quote, Profile, Research) of Ladson, North Carolina, the Pentagon's Defense Security Cooperation Agency said in a notice to lawmakers. (Reporting by Jim Wolf; Editing by Jeffrey Benkoe)
Force Protection Industries, Inc. (FPII), Ladson, S.C,, is being awarded a $377,775,613 firm fixed priced delivery order #0007 under Contract (M67854-07-D-5031) for the purchase of 178 Mine Resistant Ambush Protected Category I vehicles, 180 MRAP CAT II vehicles, including engineer change proposals and Integrated Logistic Support.� The MRAP vehicles are required to increase the survivability and mobility of troops operating in hazardous fire areas against known threats such as improvised explosive devices, small arms fire and other explosive threats.� The sustainment ILS will consist of Authorized Stockage ListCAT I and CAT II, Prescribed Load ListingCAT I and CAT II, Deprocessing, and Basic Issue Items.� Work will be performed in Ladson, S.C., and work is expected to be completed by Jul. 2008.� Contract funds will not expire at the end of the current fiscal year.� This contract was competitively procured.� The Marine Corps Systems Command, Quantico, Va., is the contracting activity.
-------------------- ......in Psychiatry circles it's known as a "warning sign"
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posted
This was the worst case scenario. I'd like to bid $1, Bob. No joke.
International Military and Government LLC (IMG), Warrenville, Ill., is being awarded $1,183,141,218 for firm-fixed-priced delivery order #0006 under previously awarded contract (M67854-07-D-5032) to purchase an additional 1,500 Category I (CAT I) Mine Resistant Ambush Protected (MRAP) Low Rate Initial Production (LRIP) vehicles. This order also includes sustainment items needed to support the vehicles in theater as well as several Engineering Change Proposals to increase the vehicles’ capabilities. The CAT I is an MRAP vehicle used by the Marine Corps and other Joint Forces for convoy operations. The MRAP vehicles are required to increase the survivability and mobility of troops operating in hazardous fire areas against known threats such as improvised explosive devices, small arms fire and other explosive threats. Work will be performed in WestPoint, Miss., and work is expected to be completed by the end of Jul. 2008. Contract funds will not expire by the end of the current fiscal year. This contract was competitively procured. The Marine Corps Systems Command, Quantico, Va., is the contracting activity.
BAE Systems Land & Armaments, LP. Ground Systems Division, York, Pa., is being awarded $645,445,800 for firm-fixed-priced delivery order #0006 under previously awarded contract (M67854-07-D-5025) to purchase 600 Mine Resistant Ambush Protected (MRAP) Category II vehicles, engineering change proposals and vehicle sustainment Integrated Logistics Support (ILS). The MRAP vehicles are required to increase the survivability and mobility of troops operating in hazardous fire areas against known threats such as improvised explosive devices, small arms fire and other explosive threats. Work will be performed in York, Pa., and work is expected to be completed by June 2008. Contract funds will not expire by the end of the current fiscal year. This contract was competitively procured. The Marine Corps Systems Command, Quantico, Va., is the contracting activity.
Stewart & Stevenson Tactical Vehicle, Division of Armor Holdings, Sealy, Texas, is being awarded $458,128,283 for a firm-fixed-priced delivery order #0003 under previously awarded contract (M67854-07-D-5030) to purchase 668 Mine Resistant Ambush Protected Category II (CAT II) vehicles with CAT I seating configuration, sustainment parts and engineering change proposals. The MRAP vehicles are required to increase the survivability and mobility of troops operating in hazardous fire areas against known threats such as improvised explosive devices, small arms fire and other explosive threats. Work will be performed in Sealy, Texas, and is expected to be completed Jul. 2008. Contract funds will not expire at the end of the current fiscal year. This contract was competitively procured. The Marine Corps Systems Command, Quantico, Va., is the contracting activity.
Force Protection Industries, Inc. (FPII), Ladson, S.C,, is being awarded a $377,775,613 firm fixed priced delivery order #0007 under Contract (M67854-07-D-5031) for the purchase of 178 Mine Resistant Ambush Protected Category I vehicles, 180 MRAP CAT II vehicles, including engineer change proposals and Integrated Logistic Support. The MRAP vehicles are required to increase the survivability and mobility of troops operating in hazardous fire areas against known threats such as improvised explosive devices, small arms fire and other explosive threats. The sustainment ILS will consist of Authorized Stockage ListCAT I and CAT II, Prescribed Load ListingCAT I and CAT II, Deprocessing, and Basic Issue Items. Work will be performed in Ladson, S.C., and work is expected to be completed by Jul. 2008. Contract funds will not expire at the end of the current fiscal year. This contract was competitively procured. The Marine Corps Systems Command, Quantico, Va., is the contracting activity.
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posted
Does anyone see any catalyst to getting this stock to turn around? The only thing I can think of is that the DoD is downsizing MRAP orders to FRPT in anticipation of placing large JLTV orders in the spring. But that's foolish and unlikely.
-------------------- Good judgment comes from experience. Unfortunately, experience usually comes from bad judgment.
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posted
I'm with ya, Jo. I feel like a complete idiot for going against my own trading plan, but I saw so much was yet to come. I kept buying on the way down. When you read things like this:
The current stable of MRAP producers roughly doubled their output in November to more than 800 trucks -- but still missed the Pentagon�s acquisition target of 997 vehicles, according to sources familiar with preliminary data on MRAP deliveries last month. These sources say that only one vendor -- Force Dynamics, an industry team consisting of Force Protection Industries, Ladson, SC, and General Dynamics Land Systems, Sterling Heights, MI -- met its production goal
....it leads you to believe the DoD will go with FRPT/FDyanamics because they're able to get it done on time. Oh no, of course not! They're punished with getting the SMALLEST order!!! Does anything make sense here?!?! I wish we could hear what those in theater are saying about the different models they get.
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I did flip some along the way up. But as it went down instead of selling, I kept buying.
I just decided to sit down tonight and see just how much I actually lost in FRPT. Cause up until the last few weeks, I was only losing profits (although in a big way), but now, I'll be losing capital when I sell what I have left. I've got to figure out how to best do that. Probably will take some loss this year and some loss next year.
I do not have enough capital gains to benefit from the entire losses this year. So I may try and work it out so that with my gains and losses it will be as close to a $3,000 loss as possible, take the other losses next year and hope that I'll have gains next year that I can use the entire amount as an offset.
-------------------- "Great Day for Up!"....Dr. Seuss
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posted
I figured out the per vehicle numbers for the other 3 vendors:
IMG Cat I - $788,760/vehicle BAe Cat II - $1,075, 743/vehicle AH(now BAe) Cat II- $685,820/vehicle
I couldn't find any contracts for FRPT that separated $ awarded for Cat I from Cat II. The recent awarded amount divided by # of vehicles was $1,055,239 which leads me to believe FRPT has some mighty expensive vehicles. That armor holdings Cat II looks dirt cheap.
-------------------- Good judgment comes from experience. Unfortunately, experience usually comes from bad judgment.
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posted
Jo, you really ended up losing money on FRPT? I'm sorry to hear that, and honestly, am pretty shocked. Hope you at least understand what you did wrong and will use it to your advantage later.
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posted
I had stay away from FRPT during the past year, just never had a feel for it.
I recently bought some because I believe this has been an over reaction. I have done a little DD and according to the last 10Q which ended Sept 07, the company had over 300M in assets, now that was before they were awarded $600M in contracts (the over 300M from both Oct and now today). This leads me to believe that the stock is undervalued and will rebound. When that will happen is anyone's guess. Yet IMO it will happen.
I, personally will hold and may even add at low levels. They opened a new factory, are in a good cash position with minimal debt and are selling vehicles to other countries as well. Everybody needs to make decisions that they feel are right for them. Just thought I would weigh in with my own thoughts, which by the way will get you a cup of coffee if you have the dollar or so in your pocket to pay for it.
quote:Originally posted by Jo4321: No it doesn't make any sense at all.
I did flip some along the way up. But as it went down instead of selling, I kept buying.
I just decided to sit down tonight and see just how much I actually lost in FRPT. Cause up until the last few weeks, I was only losing profits (although in a big way), but now, I'll be losing capital when I sell what I have left. I've got to figure out how to best do that. Probably will take some loss this year and some loss next year.
I do not have enough capital gains to benefit from the entire losses this year. So I may try and work it out so that with my gains and losses it will be as close to a $3,000 loss as possible, take the other losses next year and hope that I'll have gains next year that I can use the entire amount as an offset.
Where on this chart did yo actually buy and sell...cause you could have almost doubled you money twice, and made like 2 50% shorts just playing FRPT off the chart! just using the basic, RSI, MACD, STOCKASTICS, and 50/200 moving averages!
posted
Press Release Source: Force Protection, Inc.
Force Protection Awarded $379 Million MRAP Contract, Additional Foreign Military Sales Orders to Follow Wednesday December 19, 9:02 am ET
LADSON, S.C.--(BUSINESS WIRE)--Force Protection, Inc. (NASDAQ:FRPT - News) today announced it has received a delivery order for an additional 358 Mine Resistant Ambush Protected (MRAP) Category I and Category II vehicles from the U.S. Marine Corps Systems Command (MARCORSYSCOM), which is acting as the lead contracting agency for the Department of Defense. The total approximate value of the order is $379 million. ADVERTISEMENT
MARCORSYSCOM also advised Force Protection that its Cheetah vehicle proposal is in the competitive range for continued development and testing and will be further evaluated with modifications as part of the ongoing MRAP II competition.
“In addition to this order from the Marine Corps Systems Command, we intend to continue working with the Army to field the Cougar vehicle in a way that will meet the Army’s objective of reducing sustainment and life cycle expense,” said Gordon McGilton, CEO of Force Protection, Inc. “The MRAP vehicle program requirements are based on the very design characteristics of our Cougar and Buffalo – the most proven and effective vehicles of this kind in service, and the Army continues to be a valued customer under the MRAP Category III Buffalo program. We are in the process of finalizing a contract for the Buffalo route clearance vehicles to be part of the Ground Standoff Mine Detection System (GSTAMIDS) program of record.
“We are pleased that the Marine Corps, Navy, and Air Force continue to select our proven Cougar MRAP for their Category I and II vehicle requirements,” said McGilton. “The Cougar JERRV variant is already meeting joint service requirements for explosive ordnance disposal teams and continues to be the gold standard in performance where it matters most—on the battlefield.”
In related activities, foreign military sales have also been approved to the United Kingdom and Italy for approximately 300 Cougar and Buffalo vehicles. These contracts have a combined estimated value of $150 million, and include spare parts and sustainment items.
“As U.S. requirements for MRAP vehicles rise and fall, we are pleased to see the release of orders to foreign militaries,” said McGilton. “We are aware of several other countries who have expressed additional need for these life saving vehicles, and we expect to receive approval to service them as well.”
Deliveries for Cougar Category I and II vehicles in the MRAP program are executed through the company’s joint venture, Force Dynamics, LLC, with General Dynamics Land Systems (NYSE:GD - News). As reported at the end of November, Force Dynamics is 68 vehicles ahead of the contracted MRAP delivery schedule. Buffalo Category III vehicles are sole-sourced to Force Protection and produced independently in Ladson, SC.
About Force Dynamics, LLC
Force Dynamics, LLC is a joint venture between leading defense manufacturers Force Protection, Inc. (NASDAQ:FRPT - News) and General Dynamics Land Systems, a business unit of General Dynamics Corporation (NYSE:GD - News).
About Force Protection, Inc.
Force Protection, Inc. was the first to respond to the urgent need to bring lifesaving mine-resistant ambush protected vehicles to U.S. troops in combat. The Company is a leading American manufacturer of 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 and the Buffalo, each have a proven track record where it matters most - in the battlefield. The Company’s newest vehicle, the Cheetah, is designed specifically for reconnaissance, forward command and control, and urban operations, and combines state-of-the-art ballistic and blast protection with the mobility of a unique light-armored vehicle. These specialty vehicles, which the Company believes are in the forefront of blast-resistant technology, are designed 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 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.
About General Dynamics
General Dynamics, headquartered in Falls Church, Va., employs approximately 83,000 people worldwide and anticipates 2007 revenues of approximately $27 billion. The company has leading market positions in mission critical information systems and technologies, land and amphibious combat systems, shipbuilding and marine systems, and business aviation. More information about the company is available on the Internet at www.generaldynamics.com.
This press release contains forward-looking statements that involve risks and uncertainties. The Company generally uses words such as “believe,” “may,” “could,” “will,” “intend,” “expect,” “anticipate,” “plan,” and similar expressions to identify forward-looking statements. You should not place undue reliance on these forward-looking statements. Actual results could differ materially from those anticipated in the forward-looking statements for many reasons, including the risks described in the Company’s Form 10-K and other reports filed with the Securities and Exchange Commission. Although management believes the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and the Company’s future results, levels of activity, performance or achievements may not meet these expectations. The Company does not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in expectations, except as required by law.
Contact: Policy Impact Communications Jeff Child, 202-737-5339
-------------------------------------------------------------------------------- Source: Force Protection, Inc.
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posted
Already have my sell order in! (Actually, forgot to put it in right away, or I would have alreaedy been out, since it went above my sell point before I put my sell in.)
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quote:MARCORSYSCOM also advised Force Protection that its Cheetah vehicle proposal is in the competitive range for continued development and testing and will be further evaluated with modifications as part of the ongoing MRAP II competition
Now what exactly does that mean then? My lover Melissa says they're taking orders from Ceradyne/Oshkosh(whom the military REJECTED from other MRAP competitions) for MRAP II. Does this mean the Cheetah is barely hanging on in the competition and DoD hasn't ordered any test vehicles from FRPT yet?
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quote:Where on this chart did you actually buy and sell...cause you could have almost doubled you money twice, and made like 2 50% shorts just playing FRPT off the chart! just using the basic, RSI, MACD, STOCKASTICS, and 50/200 moving averages!
I bought a lot of different places. Flipped it a lot. Was in the green until this month. When I stopped selling and decided to buy more it "hit bottom". I had terrible timing the whole way with thi stock. (went up when I'd sell, down when I'd hold)
quote: I hope Jo isn't still holding.
Well, I couldn't get out after-hours last night or premarket this morning because Fidelity said that the order price was too far below the closing price. YEAH, TELL ME ABOUT IT.
In my trading account, I just sold off my the last of my earliest shares that I got for $2.19 at $4.55. YEEHAW, a double! LOL. I still hold shares that I purchased at $6.50 and $21.50 in that account. I will probably just hold on to them until next year so I can take the loss then.
I sold off 300 remaining shares in my dh's IRA for $4.63 and now I am eyeing my IRA where I still have about 1000 shares in there and am currently at a 50% loss.
Thing is this stock could have been one of the BEST decisions I made, had I only taken my profits in the summer and not gone back in. Now it is one of the worst. Along with a bunch of other bad picks and bad timing,it will take me quite a while to get back to square one where I was nearly a year and a half ago.
I think I need to pay a lot of attention to the $312 to 10,000 thread!
Jo
-------------------- "Great Day for Up!"....Dr. Seuss
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I'm sorry to hear that, and honestly, am pretty shocked. Hope you at least understand what you did wrong and will use it to your advantage later.
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