FRPT

[TerryG]

Went below 2.00 today.

After Hours: 1.78 -0.01 (-0.56%)  -  Mar 14, 7:56PM ET

The bottom? With bankruptcy still in the picture I think this will test .50 like Lucent did.

FRPT did test .50 once, after it did the 11 to 1 RS brought it to 2.00 to begin with.

Will the company still be in business? Most people ILS or vehicle support for as long as they are deployed and retained in inventory. They are still the vehicle of choice by the Marines.

Also there is a long lead contract for 180 Buffaloes for the MMPV GSMTIDS escort vehicles.

The Buffalo is the sole Cat I MRAP vehicle by any manufacturer.


Why it went below 2.00 today.


BAE, Navistar Truck Orders Shut Out Force Protection (Update2)

By Edmond Lococo

March 14 (Bloomberg) -- BAE Systems Plc and Navistar International Corp. won 99 percent of a $1.1 billion Pentagon order for blast-resistant trucks, all but shutting out Force Protection Inc. in a decision that surprised analysts.

Force Protection won just 29 of the 2,243 vehicles ordered today for delivery by November, the Defense Department said in a statement today after the close of U.S. markets. London-based BAE received orders for 1,471, almost two-thirds of the total. Earlier awards have been split more evenly between the three.

``This is pretty bad news for Force Protection,'' said Tim Quillin, an analyst with Stephens Inc. in Little Rock, Arkansas, who rates Force Protection shares ``equal weight'' and doesn't own any. ``I'm surprised they were almost completely shut out of this round of orders.''

The trucks, used to protect troops from roadside bombs in Iraq, have blast-deflecting V-shaped hulls that are four times safer than flat-bottomed transports. Today's orders add to the 11,891 Mine-Resistant, Ambush-Protected vehicles, or MRAPs, previously purchased and don't yet fulfill the Defense Department's plan announced in September to buy 15,274.

Ladson, South Carolina-based Force Protection's awards were valued at $17.5 million. Its shares fell 26 percent today, the most since Dec. 12, before the order was announced. The stock dropped 62 cents to $1.79 in Nasdaq Stock Market trading, below its May peak of $31.16.

Warrensville, Illinois-based Navistar was unchanged at $56.75, and BAE earlier rose 2.75 pence to 486.75 in London.

Order Values

BAE's order was valued at $715.9 million, including orders placed with its Armor Holdings unit, which was acquired in July for $4.53 billion. Navistar's order was for 743 trucks valued at $410.7 million.

Defense Secretary Robert Gates made MRAP vehicles the highest priority acquisition program in May to improve troop safety. In November, the U.S. Marine Corps began reducing requirements for the vehicles, saying they lacked the ``maneuverability and mobility'' that is needed ``to pursue the enemy off-road, in confined areas or across many bridges.''

At 17 tons, Force Protection's Cougar truck built for the program weighs more than three of the M1151 armored Humvees built by AM General LLC. The company builds the Cougar in a joint venture with Falls Church, Virginia-based General Dynamics Corp.

Today's orders were mainly for the U.S. Army, which announced in December it planned to focus on purchases of the BAE and Navistar vehicles, said Michael Aldrich, Force Protection's vice president for government relations.

``This is the logical continuation of the course the Army set back in December,'' Aldrich said in an interview after the decision. ``From December we stopped ramping up because they don't need it currently.''

The Marine Corps and the Army are now planning a contest for June to purchase a new truck called the Joint Light Tactical Vehicle, which is intended to offer better protection than the current fleet of Humvee transports, while being more mobile than MRAPs.

To contact the reporters on this story: Edmond Lococo in Boston at [email protected].

Last Updated: March 14, 2008 19:44 EDT

[setravis]

CONGRESS APPROVES $94M UK CONTRACTS: Force Protection, Inc. (FRPT) announced
that Congress has approved two Cougar Foreign Military Sales to the United Kingdom. The first
contract for six Cougar Category I Mine Resistant Ambush Protected (MRAP) vehicles and associated
services was awarded on April 29. The second contract for 151 Cougar MRAP vehicles
and associated services was awarded on May 1. The total value of the contracts for the 157
vehicles, named Ridgebacks by the British, is approximately $94 million. These contracts are not
subject to the terms of Force Protection's joint venture.

[setravis]

CONGRESS APPROVES $94M UK CONTRACTS: Force Protection, Inc. (FRPT) announced
that Congress has approved two Cougar Foreign Military Sales to the United Kingdom. The first
contract for six Cougar Category I Mine Resistant Ambush Protected (MRAP) vehicles and associated
services was awarded on April 29. The second contract for 151 Cougar MRAP vehicles
and associated services was awarded on May 1. The total value of the contracts for the 157
vehicles, named Ridgebacks by the British, is approximately $94 million. These contracts are not
subject to the terms of Force Protection's joint venture.

[David Randolph]

Here's an excerpt of an analysis published March, 25, 2008:

FRPT: Lowering Estimates; Outlook Remains Highly Uncertain

• Force Protection hosted a conference call to discuss recent company events. Our view on the company's prospects remains unchanged as the company continues to struggle filling its business pipeline and with continuing accounting problems.

• While new management is trying diligently to improve the situation, a delisting notice by Nasdaq due to delay of its 10-K filing will likely pressure the stock due to restrictions for holding a delisted stock. In addition, the company's auditor resigned due to lack of necessary internal controls to complete its audit and pending class action lawsuits remains an overhang.

• As we anticipated, Force Protection doesn't expect to receive any MRAP awards as the Army consolidated its orders down to BAE Systems (BAESY, Not Rated [NR] and Navistar (NAVZ, NR) in the last round of awards. The Army is holding back FY08 MRAP funding for 1,000+ units of vehicles and has not decided on how many vehicles to purchase; decision will likely be made before June based on MRAP II testing and its long-term fleet strategy.

• We expect the company to ship its entire backlog by year-end. It shipped 264 vehicles through February this year and has a remaining backlog of 870 vehicles with a value of $450
million as of February 2008. We expect the service and sustainment to be the major contributor to revenues in 2009, as the potential of sizable foreign military orders remains suspect
and its new Cheetah vehicle is in our view unlikely to gain much traction.

• We lower our 2008 and 2009 sales estimates to $692 million and $285 million and EPS estimates to $0.53 and $0.13 based on lower profitability on its joint venture with General
Dynamics (GD, NR) and uncertain outlook. We reiterate our SELL rating and lower our price target to $1.50 from $5. The company has $1 cash per share and $3.5 in book value.

And this other one out yesterday, after the UK order news:

FRPT: $91 Million UK Award

- $91 Million for 151 MRAPs to the UK

A sale of MRAPs to the UK MoD (Ministry of Defense) has been in the works for some time and was awarded last night. Force received an order for $91.5 million to deliver 151 MRAPs to the MoD. Work will begin in July of this year and be completed by July of 2009. This order has been in our estimates for some time. This order is in addition to the $115 million order for 174 vehicles awarded in February of this year.

- International Key Revenue Source in 2009

We look at our revenue estimate for 2009 in five buckets: service and support, international, remanufacturing, Buffalo and Cheetahs. We have higher confidence now, in the service, international and Buffalo buckets. Remanufacturing orders we expect later this year. Cheetah is the wild card. The latter two comprises about $47 million of our $265 million estimate. We believe there could be upside to that estimate.

- Valuation

The shares are cheap on our 2009 estimates, but given the lack of audited financials and recent management turnover, we'd remain on the sidelines.

My comments:

- Analysts expect revenue to drop 59% in 2009 and EPS to be just $0.13 in that year, so there's this cloud on the future of FRPT;
- The UK order just announced was already embedded in analysts estimates, it wasn't a surprise.

So my take is FRPT's 20% rise on Friday was a short term thing, there wasn't any meaningful catalyst to change the previous situation. Perhaps FRPT will be able to close the gap at $4.02 but I would be surprised to see it run much further than that ... it doesn't look like it on a medium term chart, but the stock is up 250% from the low set six weeks ago.

[setravis]

updated chart look...

JLTV+MRAP II Brits sending more troops to Afghanistan, War with Iran...

Well things are moving. stock has to break the $4-5 wall
From there to $15ish, there isn't real concrete resistance since it was a sharp fast drop.
There's buzz about 400 vehicles for Italy. we'll see.
The restatement by the new top accounting firm will be interesting.
The value of the stock without sales is around $7
The backlog of orders and revs is HUGE reaching $2Billion !!!
The stock trades at 1/8th of its revs.
This current deal with UK DOD is purely for FRPT also: no sharing with GD
The patents they now have will change the MRAP market...




Technicals
Percentage Gainer

Last Price Quote is:
12.12%above 13-day MA
21.22%above 50-day MA
RS Rating: 97 

Fundamentals
Key Data:
Market Cap (M): $275.04 
P/E Ratio: 6.54 
PEG Ratio: 0.166667 
Next Earnings: 08/07/2008
Last Analyst Rating: Hold

[la-onda]

are you invested setravis?

FRPT: Short Interest UP 1.3% to 5.5M at the End of May 2008
Tuesday , June 10, 2008 16:17ET

According to new short interest data from NASDAQ, short interest for Force Protection, Inc (NasdaqSC: FRPT) INCREASED 1.3% to 5,484,566 shares as reported at month-end May, 2008.
Based on FRPT's 20-day average daily share volume of 741,915, it would require approximately 8 day(s) of buying to cover this short interest.

&

FRPT: Volume Spike; 25% > 20-adsv, Stock +13.24%
Monday , June 16, 2008 12:20ET

This is the 1st VOLUME alert for FRPT in the past 7 calendar days.

Trading for Force Protection, Inc (NASDAQ SC: FRPT) has been heavier than usual in today's session. By 12:20 ET, the stock had already traded 915,650 shares via 1,874 trades. The cumulative volume is 24.72% above its 20-day average of 734,165. Normally the stock experiences around 2,217 individual trades per session.

So far, today's volume surge has caused a net rise in FRPT's stock price. At the time of this alert, the stock was trading at $4.563, up $0.533 (+13.24%).

One year ago, the Company's shares closed at $27.060. The price has declined more than 83 percent since then.

Over the last 10 trading session FRPT has traded in a range between $3.900 and $4.290 and is currently trading 83.25% below its 52-week high of $27.250 set on June 18,2007 and 343.05% above its 52-week low of $1.030 from March 17,2008.

In the previous 3 sessions, FRPT trading has displayed a mixed trend. Closing results have been as follows:

June 13, 2008 --- closed at $4.030 up $0.060 (+1.51%) on 302,300 shares
June 12, 2008 --- closed at $3.970 down $0.050 (-1.24%) on 779,500 shares
June 11, 2008 --- closed at $4.020 down $0.080 (-1.95%) on 574,500 shares

The Company last released news on June 05, 2008:
"Force Protection Marks Delivery of 200th Buffalo Vehicle"

[setravis]

A very simple answer to that...Yes !!

[waxweazle]

looks nice   

[waxweazle]

look s nice 

[sebfr]

hi waxweazle,

i applaud you... great find...BUT personnally, i will waiting for a pullback for buying this stock..

You have find a stock in phase 1 as stein weinstein defines it...

Have good day and thank you for this one...

[setravis]

G-20 Lifts Street...

Navistar fell 14% at the close, after the military vehicle maker filed a complaint with the Pentagon on the evaluation of its vehicles. Investors dropped the stock on concern that the issue could jeopardize Navistar's contracts. Rival Force Protection (FRPT) was up on the news, adding 24% at the close.

Look out ahead good things starting to happen. Financial look great, 80 mil cash, possible orders looming.... recovery should value us above $10.00.


52wk Range: 1.70 - 7.22
Volume: 2,955,957
Avg Vol (3m): 951,910
Market Cap: 417.81M
P/E (ttm): 8.79
EPS (ttm): 0.69
Div & Yield: N/A (N/A)

Technicals
Percentage Gainer

Last Price Quote is:
12.23%above 13-day MA
13.29%above 50-day MA
RS Rating: 70 

Fundamentals
Key Data:
Market Cap (M): $397.03 
P/E Ratio: 8.35 
PEG Ratio: 0.526667 
Next Earnings: 06/14/2009
Last Analyst Rating: Hold

[la-onda]

thanks for the update setravis!
Spartan Chassis, Inc. and Force Protection, Inc. Announce Service and Sustainment Partnership
Wednesday, April 01, 2009 09:21ET

CHARLOTTE, Mich. & LADSON, S.C., Apr 01, 2009 (BUSINESS WIRE) -- Spartan Chassis, a subsidiary of Spartan Motors, Inc. (NASDAQ: SPAR), and Force Protection, Inc. (NASDAQ: FRPT), today jointly announced that they have entered into a Contractor Team Arrangement and will combine service capabilities and infrastructure to more effectively support future customer needs related to spare parts and sustainment for Force Protection's fleet of Cougar vehicles. The two companies noted that each would commit key staff, facilities and information systems to speed response capability on critical programs.

John Sztykiel, president and CEO of Spartan Motors, said: "We are proud of our partnership with Force Protection in rapidly delivering key components for over 3,000 Cougar vehicles under the MRAP program. This new work structure will strengthen that relationship, create enhanced capabilities for the customer, and ensure that the service, upgrades, and spares parts this fleet of vehicles will need throughout its lifecycle are delivered and executed with excellence."

Michael Moody, Chairman and CEO of Force Protection, Inc., commented: "It is a strategic priority for our Company to build the relationships and partnerships that provide the highest possible level of customer experience. Over the course of the MRAP program, Spartan has been a key partner, met difficult production requirements in short spaces of time, and executed with excellence. We are very pleased to formalize our relationship, further enhance our combined capabilities and position ourselves to capture the increasing need for service and support work."

&

FRPT: Volume Spike; 43% > 20-adsv, Stock +25.46%
Thursday , April 02, 2009 13:05ET

This is the 1st VOLUME alert for FRPT in the past 7 calendar days.

Trading for Force Protection, Inc (NASDAQ SC: FRPT) has been heavier than usual in today's session. By 13:05 ET, the stock had already traded 1,259,363 shares via 4,779 trades. The cumulative volume is 42.99% above its 20-day average of 880,705. Normally the stock experiences around 4,811 individual trades per session.

So far, today's volume surge has caused a net rise in FRPT's stock price. At the time of this alert, the stock was trading at $6.110, up $1.240 (+25.46%).

One year ago, the Company's shares closed at $2.380. The price has gained more than 156 percent since then.

Over the last 10 trading session FRPT has traded in a range between $4.730 and $5.990 and is currently trading 15.37% below its 52-week high of $7.220 set on January 13,2009 and 259.41% above its 52-week low of $1.700 from October 24,2008.

In the previous 3 sessions, FRPT trading has displayed a mixed trend. Closing results have been as follows:

April 01, 2009 --- closed at $4.870 up $0.070 (+1.46%) on 1,149,500 shares
March 31, 2009 --- closed at $4.800 down $0.410 (-7.87%) on 1,272,000 shares
March 30, 2009 --- closed at $5.210 down $0.520 (-9.08%) on 830,800 shares

[setravis]

Force Protection Receives $158 Million Contract from United States Marine Corps...  

LADSON, S.C., Apr 09, 2009 (BUSINESS WIRE) -- Force Protection, Inc. (FRPT, Trade) today announced that it has received a modification to contract M67854-07-D-5031 not to exceed $158 million from the United States Marine Corps Systems Command to supply Force Protection Cougar Mine Resistant Ambush Protected (MRAP) vehicles with the Oshkosh Corporation (OSK, Trade) TAK-4 Independent Suspension Kits. This contract modification is subject to definitization.

Force Protection, Oshkosh and MRAP Joint Program Office engineers collaborated to successfully integrate the TAK-4 independent suspension onto the Force Protection Cougar vehicle. This suspension modification enhances the Cougar's mobility and maneuverability to enable improved performance in the rough terrain of Afghanistan, while continuing to provide MRAP levels of protection. Work is expected to be completed by December 2009.

Michael Moody, Force Protection Chief Executive Officer, said, "We are pleased to be able to deliver this meaningful upgrade for our armed forces. With the incorporation of this independent suspension, we will demonstrate the Cougar can meet the operational needs of the war-fighter in Afghanistan, which is home to some of the most challenging terrain anywhere on Earth. This upgrade is an excellent illustration of our strategy to focus on continued research and development, to develop strong industry partnerships, and to continually improve customer satisfaction with our products. This effort, which involved close coordination with Oshkosh and the Joint Program Office demonstrates that we can create urgently needed, cost-effective, mission enabling products and enhancements that extend and amplify the usefulness of the Cougar platform while providing the war fighter with the best possible equipment."

About Force Protection, Inc.

Force Protection, Inc. is a leading American designer, developer and manufacturer of survivability solutions, predominantly 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. Force Protection's specialty vehicles, the Cougar, the Buffalo and the Cheetah, are designed specifically for reconnaissance and urban operations and to protect their occupants from landmines, hostile fire, and improvised explosive devices (IEDs, commonly referred to as roadside bombs). Force Protection also is the developer and manufacturer of ForceArmor(TM), an armor package providing superior protection against explosively formed projectiles (EFPs), now available for a wide range of tactical-wheeled vehicles. Force Protection is one of the original developers and primary providers of vehicles for the U.S. military's Mine Resistant Ambush Protected, or MRAP, vehicle program. For more information about Force Protection and its vehicles, visit www.forceprotection.net.

Force Protection, Inc. Safe Harbor Language

This press release contains forward looking statements that are not historical facts, including statements about Force Protection's beliefs and expectations are forward-looking statements. These statements are based on beliefs and assumptions by Force Protection's management, and on information currently available to management. Forward-looking statements speak only as of the date they are made, and Force Protection undertakes no obligation to update any of them publicly in light of new information or future events. A number of important factors could cause actual result to differ materially from those contained in any forward-looking statements. Examples of these factors include, but are not limited to, Force Protection's ability to fulfill the above order on a timely basis, the ability of the subcontractor to perform on a timely basis, Force Protection's ability to effectively manage the risks in its business; the reaction of the marketplace to the foregoing; and other risk factors and cautionary statements listed in Force Protection's periodic reports filed with the Securities and Exchange Commission, including the risks set forth in the Company's 2008 Annual Report on Form 10-K for the year ended December 31, 2008.

SOURCE: Force Protection, Inc.


 
Force Protection, Inc.   
Tommy Pruitt, 843-574-3866   
Senior Communications Director   
or   
Investor Relations:   
ICR, Inc   
James Palczynski, 203-682-8229   
Principal and Director 

Copyright Business Wire 2009

[setravis]

 

Force Protection Receives $158 Million Contract from the United States Marine Corps Systems Command....

Force Protection is a "cheap" stock - trading around $6.96 a share at the close today. But it also had excellent value fundamentals which is what truly attracted me to the company.

"Cheap" or low priced doesn't always equal "value". Buy value first. Your portfolio will thank you.

52wk Range: 1.70 - 7.22
Volume: 3,102,477
Avg Vol (3m): 914,659
Market Cap: 482.25M
P/E (ttm): 10.15
EPS (ttm): 0.69
Div & Yield: N/A (N/A)

Technicals
Gap Up

Last Price Quote is:
23.09%above 13-day MA
28.38%above 50-day MA
RS Rating: 81 

Fundamentals
Key Data:
Market Cap (M): $418.51 
P/E Ratio: 8.80 
PEG Ratio: 0.646667 
Next Earnings: 06/14/2009
Last Analyst Rating: Hold

[setravis]

your Watch List : (1 of 268) sorted by Price %Change in descending order


Symbol  Last   Change  %Change    Volume     Vol %Change    Added                How       
FRPT     $6.96   0.96       16.00%    3,102,777      276.37%       01/16/06   setravis's watch list

%Change 
589.11%