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$3.23 close, at HOD, gapper tomorrow... but will NOT hit $3.42 tomorrow.
And they call me drunk...
Goddamn Cramer and his crew will stop and nothing to crush the PPS here...
Need that order for 800+ Cougars to KEEP us over $20.
Where have YOU been?? Soloman Smith Barney!??!
OK OK so I was wrong.
Ok I'm back. Any idea as to when you will see some big promotional marketing campaign kick off? I assume it will be after all the initial distributions have been completed.
I feel I am being mocked publicly.. I will withdraw for now...
Crossed market?? Bid higher than ask?! Is there news leaking? Have we been bought for $5 / share?
Hmm... interesting. I guess the Apprentice was more wishful thinking than a MUST DO.
No offense, but I doubt (and HOPE) me emphasizing or not emphasizing anything on this MB will influence the PPS.
I wouldn't use "irrelevant"... look at that damn car that was on the Apprentice.. was sold out for 6 months.
Ahead of the Bell: Defense Contractors
Monday January 29, 8:36 am ET
Defense Department Picks Host of Companies to Build New Combat Vehicles for Marines
NEW YORK (AP) -- Shares of several of defense contractors picked to build new combat vehicles for the Marine Corps. may get a boost Monday trading.
Late Friday, 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.
Each company will start with an order for four test vehicles, two each in two different groups, to be delivered within 60 days. The program calls for 1,500 "Category I" vehicles and 2,600 larger "Category II" vehicles, and also calls for maintenance work on the vehicles.
The total value of the initial order is $34.6 million, with the potential bill rising past $1 billion as the vehicles chosen are deployed to the wars in Iraq and Afghanistan this year.
The companies picked include General Dynamics Corp., Force Protection Inc., Armor Holdings Inc., Textron Inc., BAE Systems PLC, and Oskosh Truck Corp.. Privately held Protected Vehicles Inc., International Military and Government LLC, and General Purpose Vehicles LLC were also named in the award.
No Apprentice last night? = RED today.
$17-$20 book value with a reasonable PE pushing it much higher in valuation.
You are correct also about a buyout.. I expect one in less than 2 years.
And I should follow up, $17 would be closer to book value than potential earnings... price would be much higher.
That would only be $17.. however, you are forgetting ILAV orders, Mastiff orders, AND the key of all keys - ILS revenue.
Right now, the highest one is $31 for '07.. but that may change when the MRAP is awarded and based on '06 financials.
All analyst ratings to buy or strong buy:
http://moneycentral.msn.com/investor/invsub/analyst/recomnd.asp?Symbol=FRPT
http://new.quote.com/stocks/analysts.action?s=FRPT
https://www.suntrustrh.com/EquityRsrch/CompanyView/..%5Cdisclosure.asp?ticker=FRPT
http://clearstation.etrade.com/cgi-bin/fundamentals?Event=analysts&Symbol=FRPT&n/a
http://www.zacks.com/research/report.php?type=rec&t=FRPT
http://www.marketwatch.com/tools/quotes/ratings.asp?symb=FRPT&sid=1935031
http://stocks.us.reuters.com/stocks/recommendations.asp?symbol=FRPT.O&WTmodLOC=L2-LeftNav-24-Rec...
http://caps.fool.com/Ticker.aspx?ticker=FRPT
http://www.newratings.com/analyst_news/article_1455916.html
This stupid one is the only one for sell.
http://ratings.thestreet.com/tools/basic/ratings.html?s=FRPT
So all of those are wrong? Thestreet.com is the only one that's valid?
Do not get fooled by them. Thestreet.com is on the shorts side.
Hold all of your shares and get a big return in years to come from FRPT.
Go FRPT!
It's very simple... notice how Force DYNAMICS was not named in that DOD release???
Figure it out from there... Cougar contract next week.. I guarantee it.
Look at this:
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=4619570
and this:
http://www.cnbc.com/id/15837275?q=frpt
Fund just bought in huge.
MRAP tonight????? Shorts will fry on Monday.
=DJ Marines On Cusp Of Launching Big Buy Of Combat Vehicles
01/26/2007
Dow Jones News Services
(Copyright © 2007 Dow Jones & Company, Inc.)
By Rebecca Christie
Of DOW JONES NEWSWIRES
WASHINGTON (Dow Jones)--The U.S. Marines are poised to pick contractors for a new generation of armored combat vehicles, kicking off billions of dollars in coming Pentagon purchases.
Contract announcements for the Mine-Resistant Ambush-Protected (MRAP) vehicles could come as soon as Friday. The Marines are working with the Army and the Navy on the program, which aims to get about 4,100 new vehicles to troops by the end of this year.
"I expect to be on contract with a large number before the end of this month," said Marine Corps Brig. Gen. Michael Brogan, head of Marine Corps Systems Command, in Jan. 16 congressional testimony.
About $1 billion in 2007 funding is laid in for vehicles and related equipment. Over time, the program could lead to more big contracts and also give participants an edge in the Defense Department's upcoming search for a Humvee replacement.
Contractors are lining up for the project, which is almost certain to include multiple vendors.
General Dynamics Corp. (GD) has two entries, one by itself and one in partnership with Force Protection Inc. (FRPT). BAE Systems PLC (BAESY) is another contender. Other companies working on armored combat vehicles include Oshkosh Truck Corp. (OSK) and Textron Inc.'s (TXT) Textron Systems unit.
By picking multiple contractors, the Marines hope to avoid capacity problems that have plagued the Pentagon during the Iraq and Afghanistan wars. For example, Armor Holdings Inc. (AH) and its partner AM General LLC had trouble keeping up with demand for up-armored Humvees.
Likewise, Force Protection drew criticism for its difficulty filling orders for its armored vehicles, which include the Buffalo minesweeper and the Cougar troop transport. Brogan said Force Protection has done a good job of overcoming its growing pains, but the Marines need more options.
"Our strategy will be to procure two vehicles from each vendor," Brogan said. Each vehicle will be tested for its ability to resist blasts and handle combat maneuvers. Production contracts could follow by fall.
Lawmakers have supported Pentagon requests for earmarks and budget reprogramming to pay for these vehicles. Interest remains high, as shown in two House Armed Services Committee subcommittee hearings last week.
Initial plans call for the Marines to buy about 1,022 of the new vehicles. The Army seeks an initial buy of 2,500, and the Navy also has signed on. The Army is eyeing additional vehicles as part of a "phase two" procurement.
"We will have to go onto maybe two, three, maybe four vendors depending on the types of systems," said Maj. Gen. Jeffrey Sorenson, in a Jan. 18 congressional hearing. "Ramping that production line up will probably be the next challenge."
Analysts estimate the wheeled vehicle market could be worth $10 billion in coming years. The Army-led Humvee replacement program, known as the Joint Light Tactical Vehicle program, will take shape over the next 12 months.
That program will be a separate purchase, although it probably will incorporate technology from the mine-resistant vehicle program, said Marine Corps spokesman Capt. Jeff Landis.
Many of the same companies are likely to compete, along with other contenders like Lockheed Martin Corp. (LMT), Armor Holdings Inc. and AM General, which has formed a joint venture with General Dynamics to compete for that project.
-By Rebecca Christie, Dow Jones Newswires; 202-862-9243; rebecca.christie*dowjones.com
(END) Dow Jones Newswires
01-26-07 1422ET
Copyright (c) 2007 Dow Jones & Company, Inc.
Nope - 4 business days until MRAP - BOOM!
Are we entering the much anticipated bear market? I know it won't affect DKAM much if good news continues, but what do you guys think overall?
Pure trash put out by short hedge funds.
Great story on NPR this morning about IED route clearance...Buffalo mentioned
The Buffalo is the star of the story and got mentioned numerous times. Talked about the safety, the mechanical arm, the camera, etc. Didn't mention Force Protection....but great exposure for the product........
Click the 'Listen' button at this link: http://www.npr.org/templates/story/story.php?storyId=7027614
F Cramer. I hope he gets hit by a bus.
New CFO
On January 19, 2007, our Board of Directors appointed Michael S. Durski to the position of Chief Financial Officer. Mr. Durski will replace Mr. R. Scott Ervin as Chief Financial Officer. Mr. Ervin was appointed by the Board to serve as Acting Chief Financial Officer during the time the Board needed to fill the Chief Financial Officer position. Mr. Ervin will continue in his position as General Counsel.
Mr. Durski will receive an annual salary of $180,000 and will be eligible to participate in our benefit program, which includes health, dental, vision, and life insurance, paid time off, paid holidays, as well as our 401K retirement income plan. Mr. Durski will also receive a one-time relocation benefit allowance of $35,000.
Mr. Durski has held management level positions in finance at several companies over the course of the last 30 years. From January 2003 through January 2007, Mr. Durski worked as an independent business consultant on financial contract assignments for various commercial and non-commercial entities. From February 2002 through December 2002, Mr. Durski served as the Vice President of Finance and Administration, Chief Financial Officer and Secretary of Aastrom Biosciences, Inc., a NASDAQ-listed company. In this position, Mr. Durski managed all administrative and financial functions. From July 1999 to December 2001, Mr. Durski served as the Chief Financial Officer and Chairman of ZeptoMetrix Corporation, a company he co-founded. Mr. Durski was responsible for establishing management functions and systems for the new company including audit and legal functions. Mr. Durski holds a Bachelor of Science in Mathematics from the State University College at Buffalo and a Masters of Business Administration from Canisius College.
Horsesh*t!
Mods - you should add the 10 day MA to the chart on the homepage... very good indicator IMO.
Nice.. 2.60 looks like support on this run.. should cross over $3 next week.
Where is the 10 day MA?
FRPT to be on CNN:
http://www.forceprotection.net/news/news_article.html?id=151
CNN to Feature Force Protection, Inc.
Publisher: Force Protection, Inc.
Date: 01/24/2007
Ladson, SC – Force Protection, Inc. (NASDAQ:FRPT) and its Buffalo and Cougar armored vehicles will be featured during the On the Rise business segment of CNN’s Anderson Cooper 360 Degrees program between 10:00 pm and 11:00 pm EST on Thursday, January 25, 2007.
Force Protection has experienced substantial corporate growth in the past 12 months. On the Rise will highlight the development of the company and its blast- and ballistic-protected vehicles that have proven to be an effective solution to counter improvised explosive devices, land mines, and roadside bombs.
“Our mission is to build vehicles that protect and save lives,” said Force Protection COO Ray Pollard. “We are gratified that the story of these vehicles and the vital role they fill in protecting our troops against explosive threats will be told by CNN.”
Several national news outlets have reported on Force Protection recently, including prime time features on CNBC, Bloomberg Television, the Associated Press, and lead news videos on The Wall Street Journal Online, Dow Jones MarketWatch, and Barrons.com that featured the company’s NASDAQ listing in New York on Thursday, January 18.
Well, I'm sure a few nervous folks after a drop from $24 are considering selling.. would be the worse mistake of their lives.
IF YOU ARE SCARED, READ THIS POST NOW!
It's in the bag!!! Just hang tight! Over 2000+ vehicles guaranteed for FRPT. READ AND LEARN.
http://www.nationaldefensemagazine.org/issues/2007/Febuary/Militaryservices.htm
Military services in the market for 4,000 blast-proof vehicles
By Sandra I. Erwin
Expectations that U.S. troops will not leave Iraq for the foreseeable future have prompted the military services to request an additional 4,000 mine-resistant armored vehicles.
Unlike armored humvees, mine-protected vehicles have V-shaped hulls and raised chasses, and are specifically designed to deflect bomb blasts. Side armor and bulletproof glass protect against small arms fire.
The Army and the Marine Corps have purchased several hundred of these vehicles in recent years, but the escalating violence in Iraq led to a decision last fall to boost the inventory.
In late December, vendors submitted bids for the so-called “mine-resistant ambush-protected” vehicles, or MRAP.
The MRAP program will cover a family of three categories of trucks. The Marine Corps currently is managing the program on behalf of the other services. The decision to acquire 4,000 more vehicles was driven by the assumption that these trucks can withstand roadside bombs and sniper attacks better than conventionally armored trucks, explained Capt. Jeff Landis, a spokesman for the Marine Corps Systems Command.
The command issued a request for industry bids in November for 4,060 vehicles — 2,500 for the Army, 538 for the Navy and 1,022 for the Marine Corps.
The Corps got $966 million in last year’s war emergency appropriation to buy 805 vehicles, but is counting on an additional $2 billion this year to acquire all 1,022. The other services also are expected to receive emergency war funds to pay for the vehicles. The price of each truck ranges from $400,000 to $750,000.
Three types of vehicles will be acquired under the MRAP program.
One is a mine-resistant six-passenger utility vehicle. It would be slightly larger than an armored humvee, with a V-shaped hull, ballistic glass, gun turret, undercarriage armor and a raised chassis. The Army plans to buy 463, the Navy 415 and the Marine Corps 538.
The second category is the 38,000-pound Cougar troop transport. The Cougar is a multipurpose, 12-ton mine-protected armored patrol vehicle that comes in 10-passenger and 16-passenger variants. Anticipated orders for this vehicle include 2,037 for the Army, 113 for the Navy and 420 for the Marine Corps.
The third category is the 45,000-pound Buffalo mine-clearing vehicle currently used by explosive ordnance disposal units. The Navy and the Marine Corps each will order 10 and 64 Buffaloes, respectively.
The MRAP program is billed as a competitive award, but two of the three categories of vehicles — the Cougar and the Buffalo — currently are made by one company, Force Protection Inc. At least 300 Cougars and Buffaloes have been deployed to Iraq so far.
“We wanted to open it up for competition to get the best available technology,” Landis said.
But in fact it will be only a limited competition. “It’s interesting that they call it a competition, when the only real competition is for category one,” said an industry executive.
Several industry representatives contacted for this article privately voiced frustration about the market dominance of Force Protection Inc. as the sole U.S. provider of mine-protected vehicles. They also wondered whether this new round of vehicle buys could be handled by the small company, whose manufacturing capacity is said to be about 40 vehicles per month.
A spokesman for Force Protection declined to comment for this article. A number of public announcements in recent months reveal that the company is trying to expand its manufacturing capacity by signing up partners to help produce the Cougar. Force Protection is a subcontractor to BAE Systems for the production of the Cougar for the Iraqi army. The company subsequently signed partnership deals with General Dynamics Land Systems and with Armor Holdings for the production of the Cougar for the U.S. military. Under the agreement, General Dynamics will build armored cabs as a subcontractor to Force Protection. Most recently, both companies created a joint venture to offer Force Protection’s Cougar 4x4 and 6x6 armored vehicles.
The succession of industrial alliances built by Force Protection creates a “very confusing picture” of the company’s actual capabilities to manufacture large quantities of vehicles, said one industry source.
In November, the Marine Corps awarded Force Protection a $125 million contract for 100 Cougars and 44 Buffaloes, which are scheduled to be delivered in November 2007. Another $69 million contract in December asked for an additional 100 Cougars. It expects to receive additional orders for several hundred more vehicles under the MRAP program. Force Protection also is producing Cougars for the U.K. military.
The Marine Corps will test one or more of the bidding contractors’ vehicles in the coming months, and production contracts are scheduled to be awarded in April 2007 for deliveries in July, Landis said.
As a possible competitor for the category one MRAP, Force Protection designed the Cheetah light tactical truck, which weighs 14,000 pounds, and is heavier than the 9,800-pound up-armored humvee.
Another vehicle expected to vie for the MRAP award is BAE Systems’ RG-33L six-wheel, 22-ton mine-protected vehicle. Raj Rajagopal, vice president and general manager at BAE Systems, said the RG-33L was jointly developed with the company’s OMC subsidiary in South Africa. General Dynamics is the U.S. distributor of smaller versions of that vehicle, the RG-31 and RG-32. “South Africans have led the world in mine-survivable vehicles,” Rajagopal told reporters.
The Army recently awarded General Dynamics a $77 million contract for 169 RG-31 Mk5 mine-protected vehicles, with options for nine more. BAE Systems’ OMC division in South Africa will manufacture the vehicles. Deliveries will begin in June 2007, General Dynamics said. The Mk5 is the latest version of the RG-31 vehicle family. The Army bought 94 RG-31 Mk5s in 2006 from General Dynamics, at a cost of nearly $43 million.
The RG-31 Mk5 is a contender for the category-one vehicle in the MRAP program, said a General Dynamics spokesman.
BAE Systems, for its part, is supporting the manufacture of the Cougar armored truck for Iraq under its partnership with Force Protection. Insiders point to the close similarities between the Cougar and the RG-33.
Also bidding in the MRAP program is Oshkosh Truck Corp., which has the rights to produce the Australian Bushmaster armored vehicle. The Bushmaster is in the same category as the RG-33 and the Cougar.
The Marine Corps Systems Command will proceed with the evaluation of the vehicles, but it is not yet clear that the Army will agree with the selection made by the Marines, industry sources said. “The Army isn’t putting money on the table. It’s waiting for the Marine Corps to select a vehicle and then they’ll decide,” an industry official said.
“Currently the Marine Corps has acquisition authority for the Army and the Navy,” said Landis. “We purchase MRAP vehicles for them using our contracting officials and expertise with the program to fulfill their vehicle requirements. Funding simply gets funneled through us, but we handle the contracting aspects and simply add their requirement numbers. The Army has purchased Cougar and Buffalo vehicles before,” said Landis. However, he added, the MRAP “has not been declared a joint program yet. There may possibly be a joint Army-Marine Corps acquisition board in the near future.”
Landis also noted that the MRAP category one vehicle should not be interpreted as the replacement for the humvee. “This is incorrect,” Landis said. “They each have very different missions.”
Green yeah!
Good thing I bought in my IRA and don't need profits for 30 years.
Wow, another red day...
And how low do you think it will go... because the MRAP will be released in less than 5 business days IMO. I think NOW is the time to load up..if you want to flip, flip after the MRAP is awarded.