3SOF

This bullish chart had dip,may have missed a good buy point.
The action in FORD on Friday was good and looks to be setting up to get in long again.

POMPANO BEACH, Fla., Jul 05, 2005 (BUSINESS WIRE) -- Forward Industries, Inc. (FORD, Trade), designer and distributor of custom carrying case solutions, today announced that it was added to the new Russell Microcap(TM) Index. The Russell Microcap Index is comprised of the smallest 1,000 securities in the Russell 2000(R) Index plus the next 1,000 companies below the Index based on total market capitalization. More than $2.5 trillion in assets are benchmarked to Russell Indexes, including more than $450 billion invested in passive index funds that use them as a model.

Jerome E. Ball, Chairman and Chief Executive Officer of Forward, commented, "We are pleased to be named to the new Russell MicroCap Index. We believe this will increase Forward's visibility with investors and institutions that rely on the Russell Indexes as a key part of their investment strategy."

About Forward Industries

Forward Industries, Inc. designs and distributes custom carrying case solutions primarily for cellular phones and home medical diagnostic equipment. The Company sells its products directly to original equipment manufacturers and also markets a line of Carry Solutions under the "Motorola" brand name. Forward's products can be viewed online at www.fwdinnovations.com and www.forwardindustries.com.

Statements in this press release other than statements of historical fact are "forward-looking statements." Such statements are subject to certain risks and uncertainties, identified from time to time in the Company's filings with the Securities and Exchange Commission that could cause actual results to differ materially from those reflected in any forward-looking statements. These forward-looking statements represent the Company's judgment as of the date of the release. The Company disclaims, however, any obligation to update these forward-looking statements.

SOURCE: Forward Industries, Inc.


Forward Industries, Inc.               
Jerome E. Ball, CEO, 954-419-9544                         
or               
Investor Relations Counsel:   
The Equity Group Inc.         
Lauren Barbera, 212-836-9610             
[email protected]         
www.theequitygroup.com 

Copyright Business Wire 2005

Let's rock...Need some more volume

overall I think a nice day for this one.

FORD announced blowout earnings of .33/share, over 7 times a year ago.  On this news, I bought a chunk at 22 and it's proceeded to break the all-time high of 23.38.  Now, the fundamentals look awesome and the chart is beautiful.  I'm holding FORD as a swing trade with appropriate stops.

Forward Industries Reports Record Third Quarter Results: Net Sales More Than Double.
Very well done FORD.

Forward Industries Reports Record Third Quarter Results:;...

POMPANO BEACH, Fla., Jul 25, 2005 (BUSINESS WIRE) -- Forward Industries, Inc. (FORD, Trade), a designer and distributor of custom carrying case solutions, today announced record results for its fiscal third quarter and nine months ended June 30, 2005.

Fiscal Third Quarter 2005 Financial Highlights - Compared to fiscal third quarter 2004:

-- Net sales increased $7.86 million or 150% to a record $13.11 million.

-- Cell phone product sales increased $7.23 million or 324% to $9.46 million, driven by three major "in-box" programs with Nokia and Motorola.

-- Overall demand for diabetic cases remained strong as sales rose $480,000 or 20% to $2.84 million.

-- Sales of other carrying solutions rose $140,000 or 21% to $810,000.

-- Net income increased more than seven times to a record $2.57 million or $.33 per diluted share, from $346,000 or $.05 per diluted share.

Fiscal Nine Month 2005 Financial Highlights - Compared to the nine months ended June 30, 2004:

-- Net sales increased $18.52 million or 126% to a record $33.26 million.

-- Cell phone product sales increased $16.11 million or 256% to $22.41 million.

-- Revenues from diabetic cases rose $1.50 million or 22% to $8.31 million.

-- Sales of other carrying solutions increased $910,000 or 56% to $2.54 million.

-- Net income increased more than fivefold to a record $5.95 million or $.82 per diluted share, from $1.03 million or $.16 per diluted share.

The tables below set forth the Company's unaudited, condensed consolidated statements of income for the three- and nine-month periods ended June 30, 2005 and 2004, the unaudited, condensed consolidated balance sheet as of June 30, 2005, and the audited, consolidated balance sheet as of September 30, 2004 and are derived from the Company's unaudited, condensed consolidated financial statements included in its Form 10-QSB filed today with the Securities and Exchange Commission. Please refer to the Form 10-QSB for complete financial statements and further information regarding the Company's results of operations and financial condition relating to the three- and nine-month periods ended June 30, 2005, as well as the Company's Form 10-KSB for the fiscal year ended September 30, 2004 for additional information.

Jerome E. Ball, Chairman and Chief Executive Officer of Forward, commented: "In the third quarter we achieved substantial revenue increases across all of our product lines. We are especially pleased with the strength of our OEM cell phone product sales, which continue a trend of sharp, sequential revenue increases established in the first quarter of our 2005 fiscal year to levels that are well above historical norms. This revenue trend was largely driven by three major "in-box" programs (two with Motorola and one with Nokia), which comprised 61% and 56% of our net sales for the three-and nine-month periods ended June 30, 2005, respectively; one of these programs alone accounted for 47% and 39% of revenues in such respective periods. Based on current confirmed and anticipated orders for existing "in-box" programs, we expect this trend of increasing revenues to continue into our fourth fiscal quarter. Whether this trend continues beyond that period depends on the timing of the decline of the product cycle for these three programs as well as on the strength of new in-box business that replaces them, which is difficult to assess at this time."

Mr. Ball continued, "Our robust sales growth and relatively fixed cost structure enabled us once again to decrease operating expenses as a percentage of sales to 11% in the third quarter from 27% in the prior year's quarter. The growth in our top line, coupled with a relatively modest increase in operating expenses, produced the highest quarterly diluted earnings per share in the Company's history of $.33. Our earnings per share increase from the 2004 quarter is even more remarkable when you consider that our weighted average shares increased 19% and our tax provision increased $661,000."

Mr. Ball further stated, "With regard to the Company's financial position, we closed the third quarter with $10.3 million in cash, no long-term debt, and working capital of $17.2 million. During the quarter, Forward received nearly $1.4 million from the exercise of stock options granted under our 1996 Stock Incentive Plan, thus further strengthening our cash position. Approximately 660,000 stock options held by executives and other employees are presently in the money and are expected to be exercised, including 370,000 options that expire on or before December 31, 2005. The exercise of these options would have a further dilutive effect on earnings per share in future quarters."

Mr. Ball concluded, "We look forward to reporting our results for our fiscal 2005 fourth quarter, which will complete a record-breaking year."

Forward Earnings Surge

By TSC Staff
7/25/2005 12:53 PM EDT 


Forward Industries (FORD:Nasdaq - commentary - research) surged Monday after the maker of cell-phone carrying cases posted strong third-quarter numbers.

For the quarter ended June 30, the Pompano Beach, Fla., company earned $2.6 million, or 33 cents a share, up from the year-ago $346,199, or a nickel a share. Sales surged 150% from a year earlier to $13.1 million.

 


Forward shares continued their strong recent run. The stock, which traded for as little as $1.90 a year ago, jumped $4.35 in hefty volume to $24.34.

"We are especially pleased with the strength of our OEM cell-phone product sales, which continue a trend of sharp, sequential revenue increases established in the first quarter of our 2005 fiscal year to levels that are well above historical norms," said CEO Jerome Ball. "Based on current confirmed and anticipated orders for existing 'in-box' programs, we expect this trend of increasing revenue to continue into our fourth fiscal quarter. Whether this trend continues beyond that period depends on the timing of the decline of the product cycle for these three programs as well as on the strength of new in-box business that replaces them, which is difficult to assess at this time."

The company said the revenue gains are being driven by two deals with Motorola (MOT:NYSE - commentary - research) and one with Nokia (NOK:NYSE - commentary - research). The company said those programs accounted for 61% of sales for the latest quarter, with one program alone accounting for 47% of revenue.

Excellent job with this pick setravis.. (applaud 99)  welcome to the 100 club soon... you well deserve it.  Great post quality.

Have a good week bud   

Thanks for the kind words G.
I have been very busy,and haven't been able to be on 3SOF very much the last week.
Just sort of lucky to be online today a bit.
Have a good week trading,and lot's of luck! "of course you don't need that".
Make a million $$$$$$$$$

FYI, FORD is featured at http://www.investorsblog.net/ today:

Stock of the week :: Its not Texas Instruments, its not Motorola ...
July 26, 2005, 12:35 am
Posted by AJ in Stocks to watch
Rating: 0/5   Votes : 0
Forward Industries (FORD) reported incredible quarterly results today. Their sales more than doubled and earnings more than tripled! FORD makes cases for cell phones, medical devices and portable electronic products. Thank god we are not talking about the car maker here!

Guess what Nokia and Motorola has said about their cell phone business. That their handset business is strong as ever (even though Nokia reported a terrible quarter its seeing nice growth in number of handsets sold). That is their biggest strength and their biggest weakness; Motorola and Nokia account for 61% of their revenues. Any downturn in cell phone demand would hurt this stock. But for right now, that doesn't seem to be the case. And it is right now in a nice place to buy too!

Inspite of FORD rising like crazy, its RSI is still at 65.8 which means it has quite a ways to go before reaching the so called oversold territory! I expect FORD to go up big in the coming few weeks and any pull back to its previous high 23.38 would mean an instant buy. It should go up in the next couple of days and then we will hopefully see a pull back.

Also, FORD's price just blasted off its 50 DMA which means its definitely not over extended. The last time it did that was on April 21st 2005, and guess what its price rocketed from its 15 level to over 23.

Good luck tomorrow!

 

FORWARD INDS INC (NasdaqSC:FORD) Delayed quote data 

Last Trade: 26.07
Trade Time: 1:58PM ET
Change:  1.27 (5.12%)
Prev Close: 24.80
Open: 25.00
Bid: 26.00 x 900
Ask: 26.08 x 100
1y Target Est: N/A

  Day's Range: 24.70 - 26.60
52wk Range: 1.90 - 25.59
Volume: 1,026,203
Avg Vol (3m): 1,296,700
Market Cap: 176.68M
P/E (ttm): 26.90
EPS (ttm): 0.97
Div Yield (ttm): N/A (N/A)

End of the day chart.
One word says it all....Bullish

Look who is kicking up dust in the pre-market.
It's my birthday and this baby is going to give me something.
+$1.64 or 6.13% pre-market

Keeps doing that steady move up.