FRPT

[Terliso]

This thing got even hotter after I sold it.... Price rocketed just like PTSC

up over 15%

[Stocky2000]

this stock is powerful...had consolidated very nice at 2.00....then boom up.....i keep the half for long term....volume is powerful...someone knows something...more orders maybe from government follow......

[la-onda]

applaud 
what about todays price action?

[amstocks82]

I started buying FRPT.OB about about six weeks ago but just in the last two weeks I began to get an idea what the company really may be -- one of those companies that sometimes we find after the fact that went from below a dollar a share to $30 a share!

The following senate mark-up page 18 shows that an additional $100 million is being directly allocated for FRTP
http://armed-services.senate.gov/press/07mark.pdf

The final version of the bill should be complete and voted on by most likely the end of May.

May 31 the Iraqi Light Armored Vehicle contract will be awarded to someone and it might be FRPT. The contract will be initially for around $47 million but will probably be multi-year.

In addition, FRPT may get additional contracts beyond the $100 million mentioned in the Senate Armed forces mark-up. The Army is going to award a contract for 765 vehicles and FRPT.ob is bidding on that contract. The contract should be awarded by the end of may.

The point is that there are several opportunities for FRPT to get major contracts. If they get any of the major contracts, those contracts will likely become multi-year contracts because the military likes to have a lot of the same kind of vehicles. It makes logistics much simpler.

Any large multi-year contract means that FRPT goes from a small obscure company to a major player in military armored vehicle supply.

After that, FRPT either get purchased (for a huge premium) or they apply for listing and get listed on a major exchange and are very profitable.

[gerard711]

Form 10-Q for FORCE PROTECTION INC


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15-May-2006

Quarterly Report



ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS
CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS

This Report contains forward-looking statements, including, without limitation, statements concerning possible or assumed future results of operations and those preceded by, followed by or that include the words "believes," "could," "expects," "intends," "anticipates," or similar expressions. Our actual results could differ materially from these anticipated in the forward-looking statements for many reasons including our ability to raise capital when necessary; availability of parts and raw materials for our products; continued customer acceptance of our products; on-going success of our research and development efforts and other risks described elsewhere in this report. Although we believe 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 our future results, levels of activity, performance or achievements may not meet these expectations. We do 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 our expectations, except as required by law.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The Securities and Exchange Commission, or SEC, issued Financial Reporting release No. 60, "Cautionary Advice Regarding Disclosure About Critical Accounting Policies," or FRR 60, suggesting companies provide additional disclosure and commentary on their most critical accounting policies. In FRR 60, the SEC defined the most critical accounting policies as the ones that are most important to the portrayal of a company's financial condition and operating results, and require management to make its most difficult and subjective judgments, often as a result of the need to make estimates of matters that are inherently uncertain. The methods, estimates and judgments we use in applying these most critical accounting policies have a significant impact on the results we report in our financial statements.



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The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

As a general rule, financial information is accounted for and based on cost, not current market value. Revenues and gains should be matched using the accrual method with the expenses giving rise to the revenues and gains to determine earnings for the period. Expenses are necessarily incurred to produce revenue. Expenses are then "matched" in the same accounting period against the revenue generated. Revenues are recognized when they are earned and expenses are recognized in the same period as the related revenue (matching or using a systematic and rational allocation or expensing in the period in which they expire), not necessarily in the period in which we receive or expend cash.

We believe the following critical accounting policies and procedures, among others, affect our more significant judgments and estimates used in the preparation of our consolidated financial statements:


†          Revenue recognition;

†          Inventory cost and Associated Reserves; and

†          Allocation of direct and indirect cost of sales.




We recognize revenue upon formal acceptance of vehicles by customers. We receive performance based payments from the U.S. Army and U.S. Marines and record such payments as deferred revenue, carrying them on our balance sheet as such until acceptance by the customer.

In December 2004, FASB issued Statement No. 123(R), Share-Based Payment, which establishes accounting standards for transactions in which an entity receives employee services in exchange for (a) equity instruments of the entity or
(b) liabilities that are based on the fair value of the entity's equity instruments or that may be settled by the issuance of equity instruments. Effective in the third quarter of 2005, SFAS 123(R) will require us to recognize the grant-date fair value of stock options and equity based compensation issued to employees in the statement of operations. The statement also requires that such transactions be accounted for using the fair-value-based method, thereby eliminating use of the intrinsic method of accounting in APB No. 25, Accounting for Stock Issued to Employees, which was permitted under Statement 123, as originally issued. To date, we have expensed stock based compensation on the intrinsic method. We are currently evaluating the impact of Statement No. 123 (R) on our financial condition and results of operations.

In November 2004, the FASB issued Statement No. 151, Inventory Costs, to amend the guidance in Chapter 4, Inventory Pricing, of the FASB Accounting Research Bulletin No. 43, Restatement and Revision of Accounting Research Bulletins, which will become effective for us in fiscal year 2006. Statement No. 151 clarifies the accounting for abnormal amounts of idle facility expense, freight, handling costs, and wasted materials. The Statement requires that those items be recognized as current-period charges. Additionally, Statement No. 151 requires that allocation of fixed production overhead to the costs of conversion be based on normal capacity of the production facility. We are currently following Statement No. 151 and do not believe that Statement No. 151 will have a significant impact on our financial condition and results of operations.

Principles of Consolidation: The consolidated financial statements include the accounts of Force Protection, Inc., and our two wholly owned subsidiaries, Force Protection Industries, Inc. (formerly Technical Solutions Group, Inc.) and TSG International, Inc. for the three month period ended March 31, 2006. All inter-company balances and transactions are eliminated in consolidation.

Cash Equivalents: For purposes of reporting cash flows, we consider all highly liquid debt instruments purchased with maturity of three months or less to be cash equivalents. Cash equivalents consist primarily of United States government securities.



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Inventories: Inventories are stated at the lower of cost or market. The cost is determined under the first-in, first-out, or FIFO, base valuation method.

Property, Plant and Equipment: Property and equipment are stated at cost or at the value of the operating agreement. We capitalize additions and improvements which include all material, labor and engineering cost to design, install or improve the asset. Routine repairs and maintenance are expensed as incurred. The capitalization threshold is $2,000 and a useful life greater than one year. Depreciation and amortization are computed using the straight-line method over the following estimated useful lives:


                        Leasehold improvements    20 years
                        Furniture and fixtures    3 years
                        Machinery and equipment   7 years
                        Tooling and molds         7 years
                        Vehicles                  5 years




Goodwill: Under SFAS No. 142. Goodwill and other Intangible Assets, all goodwill amortization ceased effective January 1, 2002. Rather, goodwill is now subject to only impairment reviews. A fair-value based test is applied at the reporting level. This test requires various judgments and estimates. A goodwill impairment loss will be recorded for any goodwill that is determined to be impaired. We follow SFAS 142, Goodwill and Intangible Assets, which requires us to test goodwill for potential impairment annually. When the carrying value exceeds fair value, the impairment is the difference between the carrying value of goodwill and the implied value. The implied value of goodwill is the difference between the fair value for the unit as a whole and the value of individual assets and liabilities using an "as-if" purchase price.

Estimates: The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Revenue Recognition: Our revenue is derived principally from the sale of our vehicles and associated spare parts and training services. Revenue from products and services is recognized at the time goods are shipped or services are provided to the customer, with an appropriate provision for returns and allowances. We receive performance based payments based on completion of specific milestones. These payments are recorded as Deferred Revenue and recognized on the profit and loss statement upon customer acceptance of the completed vehicle. It is our policy to not recognize revenue until customer acceptance. All advance payments are treated as "deferred revenue".

Dividend Policy: We have never declared or paid a cash dividend on our common stock, and we do not anticipate paying any cash dividends on our common stock in the foreseeable future. Any future determination to pay cash dividends on our common stock will be at the discretion of our board of directors and will depend upon our financial condition, operating results, capital requirements, restrictions contained in our agreements and other factors which our board of directors deems relevant. Under the terms of the Certificate of Designation for our Series D Convertible Preferred stock, we are obligated to pay a 6% dividend in cash or shares of common stock on the outstanding shares of Series D stock.

FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Overview: The Company returned to operating profitability for the three month period ended March 31, 2006, due to the increased production of our vehicles and the increased efficiency of our operations. Sales for this period from all sources generated gross revenue of $34,802,585 against which we incurred total cost of goods of $28,164,816 generating a gross profit of $6,637,769. We incurred G&A expenses of $5,859,538 plus R&D expenses in the amount of $663,590 resulting in an operating profit of $114,641. During this three month period, we delivered a total of 44 vehicles (1 Buffalo and 43 Cougar JERRV), and on February 3, 2006 we announced the award of a Letter Contract from the U.S. Army for the delivery of 19 Buffalo Vehicles with an option for an additional 22 vehicles,



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having a total estimated value of $35,000,000. In addition to operating profitability, we experienced positive cash flows from operations of $7,118,898 during the three month period ended March 31, 2006.

The following table sets forth our consolidated statements of operations for the three month period ended March 31 for the years 2005 and 2006. The discussion and analysis that follows should be read in conjunction with our consolidated financial statements and related notes included elsewhere in this report.


                      Consolidated Statement of Operations



                                Three Month Period Ended
                             March 31, 2006    March 31, 2005    Difference   % Change
  Revenues                  $     34,802,585        5,853,423    28,949,162        495 %
  Cost of Sales                   28,164,816        6,395,319    21,769,497        340 %

             Gross Profit          6,637,769         (541,896 )   7,179,665       1325 %
                   G.P. %                 19 %            (10 )%

  G&A Expense               $      5,859,538        2,991,444     2,868,094         96 %
  R&D Expense                        663,590          210,855       452,735        215 %
                Total G&A          6,523,128        3,202,299     3,320,829

  Operating Profit (Loss)   $        114,641       (3,744,195 )   3,858,836

  Interest Expense          $       (807,324 )       (277,256 )    (530,068 )
  Other Income/(Expense)              27,049           38,541       (11,492 )

        Net Income (Loss)   $       (665,634 )     (3,982,910 )   3,317,276




Revenue: Revenue for the three month period ended March 31, 2006 was $34,802,585 representing an increase of 495% compared to the same period in 2005. The increase during this period was due to the increased level of vehicle production we have achieved compared with last year, which is primarily the result of the JERRV contract, awarded in May 2005. Our revenue is derived from the sale of our Buffalo and Cougar vehicles and the sale of spare parts and other support services, however we do not record any income until our products are formally accepted by our customers The revenue reported during this three month period thus includes amounts we carried on our balance sheet during prior reporting periods as deferred revenue pending acceptance of the final products by the U.S. Army and the U.S. Marines. During the three month period ended March 31, 2006, we received approximately $33,000,000 from vehicle sales and $1,800,000 from the sale of spare parts and other support services. The revenue from the sale of spare parts has continuedd to increase over past quarters, driven by the increasing number of our vehicles delivered and deployed to areas of operations. We intend to continue to develop this spare parts business as an increasingly important part of our revenue base.

Cost of Sales: Cost of sales for the three month period ended March 31, 2006 was $28,164,816 representing an increase of $21,769,497 compared to the same period in 2005. The increase during this period was due to the increased level of vehicle production, and the corresponding increased cost of direct and indirect labor and material associated with our manufacturing activities. The cost of sales for the three month period ended March 31, 2006 was 81% of gross revenues for such three month period representing a 19% gross profit for this period, compared with cost of sales of 110% of gross revenues for the same period in 2005. This improvement in our gross profit is the result in part of increasing efficiency of our manufacturing operations. As we continue to expand our production capacity, we expect to achieve increased cost efficiency from volume purchasing, improvements in our



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manufacturing processes and the allocation of indirect costs across a broader production base, resulting in a projected decrease in the cost of sales as a percentage of gross revenue.

General and Administrative Expenses: General and Administrative expenses for the three month period ended March 31, 2006 were $6,523,128 representing an increase of $3,320,829 compared to the same period in 2005. The G&A expenses for the period ended March 31, 2006 included $663,590 in research and development expense. We expect our General and Administrative expenses to increase over time as we continue to expand our production capacity to meet increasing sales demand, however we expect the percentage of our G&A expenses in relation to gross revenues to decrease as we achieve greater efficiencies in our operations. Thus, for example, during the three month period ended March 31, 2006, our General and Administrative expense was 19% of our gross revenue as compared with 54% for the same period in 2005.

Net Gain/(Loss): Net Loss for the three month period ended March 31, 2006 was $665,633 representing an improvement over the net loss of $3,982,910 incurred during the same period in 2005. The improved performance is due primarily to higher production volumes and improved operating cost efficiencies.

Backlog: On April 23, 2004 we announced a contract award to deliver Cougar Hardened Engineer Vehicles, or HEV, to the U. S. Marine Corps, of which fourteen were initially funded under the contract. On March 8, 2005 the U.S. Marine Corps exercised its option to increase the number of HEV vehicles by fourteen, for a total of twenty-eight vehicles. As of March 31, 2006 we delivered a total of twenty-seven HEV vehicles, and have a remaining backlog of one Cougar HEV vehicle to be delivered under this contract, with a value of approximately $400,000. On May 17, 2004 we announced the award of a contract to deliver twenty-one Buffalo vehicles to the U.S. Army and in October 2004 we were awarded a separate contract by the U.S. Army for an additional fifteen Buffalo vehicles. Initial deliveries under these two Buffalo contracts began during 2004 and 2005, and as of March 31, 2006 we have delivered all thirty-six Buffalo vehicles, leaving no backlog under these two contracts with the U.S. Army. During the second quarter of 2005 we announced the award of a new contract by the U.S. Marine Corps for delivery of one hundred twenty-two Cougar Joint EOD Rapid Response Vehicles ("JERRV") to be delivered during 2005 and 2006, with a total value (with associated spares parts and training) of $90,000,000. As of March 31, 2006, we have delivered 61 JERRV vehicles and have a remaining backlog of 61 vehicles under the JERRV contract with an approximate value of $45,000,000, including associated spares and support. During the three month period ended December 31, 2005, we also announced a new order from the U.S. Marine Corps. for the purchase of four Buffalo vehicles (with associated spares, service and training) for a total contract price of $3,852,026.00. We delivered all four of these Buffalo vehicles under such contract during 2005.

On February 3, 2006 we announced the award of a Letter Contract from the U.S. Army for the delivery of 19 Buffalo Vehicles with an option for an additional 27 vehicles. The Army subsequently reduced the number of the additional vehicles from 27 to 22, for a total of 41. The Letter Contract is subject to definitization of terms. Additionally, on March 2, 2006 we announced the award of a contract with the U. S. Army, whereby we agree to provide the Army with authorized stock list supplies to service its Buffalo route clearance vehicle for the sum of up to $5 million.

Future Results: During the remainder of calendar year 2006 we expect to have incurred the majority of our presently anticipated infra-structure expansion costs and to achieve a substantially increased level of vehicle production capacity, resulting in increased revenues and profitability for such upcoming period. Set out below is a table showing actual and projected deliveries of our vehicles during 2004, 2005 and 2006 based on our internal estimates although our actual results may vary depending upon parts and material availability, actual production schedules, production efficiencies and other contingencies discussed in this report.


                      Vehicle Deliveries 2004, 2005 & 2006



                                              Actual                                    Projected
                      2004   Q1-2005   Q2-2005   Q3-2005   Q4-2005   Q1-2006   Q2-2006   Q3-2006   Q4-2006
Buffalo                  9         2        22         3         4         1        12        12        12
Cougar HEV               5         8         2         8         4         0         0         0         0
Cougar JERRV             0         0         0         2        16        43        62        60        60
Total                   14        10        24        13        24        44        74        72        72






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TRENDS, RISKS AND UNCERTAINTIES

The results of our operations for the period ended March 31, 2006 reflect the continued transition from net losses associated with our start up period to profitability as we evolve to become a manufacturing facility with stable production capability. During 2004 we were awarded contracts by the U.S. Army for a total of thirty six Buffalos and by the U.S. Marines for twenty eight Cougars, and were able to build 14 vehicles during that year. In 2005 we produced a total of total of 71 vehicles, representing an increase of 407%. During the three month period ended March 31, 2006, we produced a total of 44 vehicles, representing an annualized increase of 248%, and we are on track to achieve a minimum production capacity of 24 vehicles per month. During 2005, as we were working to complete our 2004 backlog, we also undertook the work necessary to increase our production capacity to meet the demand for our vehicles under the JERRV contract for one hundred twenty-two Cougars awarded in May 2005. This included substantial vehicle and automotive engineering work, manufacturing engineering development, hiring and training workers and the expansion of our manufacturing and administrative facilities. While the JERRV contract reflects a broader, growing demand for our vehicles, we continued to face the challenge of expanding our manufacturing capacity to fully exploit this opportunity. During 2005 we moved aggressively to meet this challenge by expanding our facilities, improving our operating systems and refining our manufacturing processes. These activities required a significant commitment of short term resources, but have positioned us to reap a long-term benefit. The results for the first quarter of 2006 demonstrate that we are beginning to be in a position to reap such benefits, in the form of increased liquidity and operating profitability.

We recognize there are risks associated with our on-going expansion activities. We continue to rely upon the U.S. Army and the U.S. Marine Corps for 100% of our sales, and if either customer elected not to issue further orders to us it would have a dramatic negative impact upon our financial performance. In addition, if we are delayed in meeting the delivery schedule under the JERRV contract, we may be obligated to pay liquidated damages for any delayed vehicle, and in the event of any substantial failure to perform, the customer could cancel the contract and/or claim additional damages. Payment of liquidated damages could negatively impact our future liquidity, and since we are incurring significant costs associated with our expansion program based on the expectation of future contract revenues, loss of the JERRV contract would have a dramatic impact on both our liquidity and our financial performance. We currently do not have any reason to expect that our customers will choose to stop buying our vehicles or that the JERRV contract would be cancelled.

In the past, we have encountered some difficulties in securing the necessary components for our vehicles, for example armor steel, truck chassis, axle sets and ballistic glass. To mitigate this risk, we have identified multiple vendors for certain components to ensure we have alternate sources of supply if necessary. Additionally, we have implemented a program of advance purchasing and stockpiling critical materials. For example, we currently have pre-purchased steel and truck parts to ensure availability of material needed for current and potential future orders. While we do not currently expect the potential non-availability of parts or raw materials to materially affect our operations, there is a possibility that delays or increased costs could negatively impact our financial performance if circumstances change. Apart from the foregoing, the main uncertainty about our future operations is whether we will continue to receive additional orders for our vehicles. It is impossible to predict with certainty whether such future orders will be placed by existing or new customers. If we do not receive future orders, it is unlikely that our business will continue. However, we believe our vehicles provide proven blast and ballistic protection, and that for so long as there is a risk of bodily harm to service personnel from explosive blasts, there will be a market for our products.

LIQUIDITY AND CAPITAL RESOURCES

Current Liquidity:For the three month period ended March 31, 2006, we had a starting cash balance of $1,217,509 and an ending cash balance of $6,146,738 representing a net increase in our cash position for such period of $4,929,229. During this period we incurred positive cash flows from operations of $7,198,742 and used $1,627,553



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in connection with our financing activities, including paying $1,250,000 of the principal amount due under our short term debt.

Future Liquidity:During the three month period ended March 31, 2006 we experienced positive cash flows from operations of $7,118,898 and were able to retire a portion of our short term debt. During this period, we continued to manage our accounts payable, and continued to factor our U.S. Government receivables under the Purchase and Sale Agreement with GC Financial Services, Inc. which allows us to receive payment within 24-48 hours of vehicle deliveries and reduces the impact of the government contract payment cycle on our short term liquidity. During the remainder of 2006 we expect the infra-structure expenses we have incurred in connection with our production ramp-up will begin to level off or decline and that we will continue to experience increased levels of positive cash flows from operations as we increase the volume of vehicle production. Such positive cash flows will allow us to pay down all or a portion of our short term debt and reduce the level of our accounts payable. In addition, we are also undertaking to secure long-term, asset-based debt financing to provide liquidity to support our continued development and growth.

Uncertainties:The amount of working capital that we will require depends on several factors, including without limitation, the extent and timing of sales of our products, future inventory costs, the timing and costs associated with the expansion of our manufacturing, development, engineering and customer support capabilities, the timing and cost of our product development and enhancement activities and our operating results. The realization of a major portion of the assets shown on our balance sheet is dependent upon the success of such future operations. During 2006 we expect to be able to generate cash flows from operations sufficient to satisfy our cash requirements, but if we are unable to do so, we may need to seek alternative sources of cash. Potential sources of such cash could include senior debt facilities, new lines of credit, or additional sales of our securities. If we raise funds through the sale of securities, the common stock currently outstanding could be diluted. There is a risk that such additional financing may not be available, or may not be available on acceptable terms, and the inability to obtain additional financing or generate sufficient cash from operations could require us to reduce or eliminate expenditures for capital equipment, research and development, production, or marketing of our products, or otherwise curtail or discontinue our operations, which could have a material adverse effect on our business, financial condition and results of operations.

Inflation & Material Cost

We do not believe that inflation has had or is likely to have any significant impact on our revenues, and we currently are not facing any material shortages of material or parts. We currently have enough steel on hand or on order to manufacture our existing contracts, and we continue to purchase steel anticipating future requirements. If the price of steel increases significantly, the cost of our products could increase, and we may not be able to pass on this . . .

[la-onda]

Force Protection, Inc. Announces Operating Profitability, Positive Cash Flows for First Quarter
Tuesday , May 16, 2006 07:45 ET

LADSON, S.C., May 16, 2006 (BUSINESS WIRE) -- Force Protection, Inc. (OTCBB:FRPT) achieved operating profitability and positive cash flows from operations during the three-month period ending March 31, 2006 on total sales of $34.8 million. The company recorded a gross profit for the quarter of $6.6 million, an operating profit of $114,000 and positive cash flows from operations of $7.2 million. These results reflect the dramatic increase in vehicle production from the same period in 2005.

"We are extremely pleased to have such a strong sales performance thus far in FY06," said Force Protection CEO Gordon McGilton. "This reflects the fact that our life-saving vehicles are being shipped to the troops in increasing numbers, and that awareness of the proven solution these vehicles provide to the problem of IEDs is also increasing."

Force Protection's net cash flow from operations in the first quarter was recorded at $7.2 million, compared with a loss from operations of $5.4 million in the first quarter of 2005. The company realized an overall net loss for the three-month period ended March 31, 2006 of $665,633, resulting from interest expenses incurred during the quarter.
"To achieve operating profitability is a significant milestone for Force Protection," said McGilton. "We are now seeing the benefit of the hard work we put in last year to develop and execute our production plan. We look forward to continuing this strong performance during 2006 as we establish greater production efficiencies and optimize our internal business processes."
Force Protection expects the number of its Cougar troop transport and Buffalo route clearance vehicles in Iraq and Afghanistan to more than double by July 2006. There are currently more than 100 vehicles deployed in the war in Iraq.

[la-onda]

is there somebody still invested??
nice chart IMO!


Force Protection, Inc. (OTCBB:FRPT), Tuesday, the shares closed up 5.48% or up $0.20 ending at $3.85. The volume was 413,636. On May 16th, the Company announced that it achieved operating profitability and positive cash flows from operations during the three-month period ending March 31, 2006 on total sales of $34.8 million. The company recorded a gross profit for the quarter of $6.6 million, an operating profit of $114,000 and positive cash flows from operations of $7.2 million. These results reflect the dramatic increase in vehicle production from the same period in 2005. "We are extremely pleased to have such a strong sales performance thus far in FY06," said Force Protection CEO Gordon McGilton. "This reflects the fact that our life-saving vehicles are being shipped to the troops in increasing numbers, and that awareness of the proven solution these vehicles provide to the problem of IEDs is also increasing." Force Protection's net cash flow from operations in the first quarter was recorded at $7.2 million, compared with a loss from operations of $5.4 million in the first quarter of 2005. The company realized an overall net loss for the three-month period ended March 31, 2006 of $665,633, resulting from interest expenses incurred during the quarter. "To achieve operating profitability is a significant milestone for Force Protection," said McGilton. "We are now seeing the benefit of the hard work we put in last year to develop and execute our production plan. We look forward to continuing this strong performance during 2006 as we establish greater production efficiencies and optimize our internal business processes."

[Terliso]

FRPT

[la-onda]

and I didn´t pick them up yesterday.....

[Stocky2000]

i think this was a breakaway gap...we opened over the previous year high of 4.28....i missed it at the open.....but in the future every breakaway gap is a must buy for me at open ....i got it later 4.60....at least:) it seems this one is heading to 10 in the near future big  momentum and volume...did not crash during the 6 red days of the correction in mid may....good sign anyway

[Terliso]

Hit $5 with no news, high volume

[Stocky2000]

From the FORM 8-K ..this is a strong buy as market cap is just 180 mio....wow 

On May 31, 2006 the U.S. Army Tank-Automotive and Armaments Command ("TACOM") awarded BAE Systems Land & Armaments L.P. of York, Pa ("BAE") a delivery order in the amount of $180,503,000 as part of a $445,439,000 firm-fixed-price contract for the production and delivery of 378 Iraqi Light Armored Vehicles ("ILAV") to be delivered to the Iraqi National Army. Force Protection Industries ("FPI") has an agreement with BAE pursuant to which FPI will license to BAE the use of FPI's Cougar vehicle as the basis for the ILAV design, and will act as BAE's principal subcontractor to provide the manpower and other resources needed to produce 50% of the vehicles in Ladson South Carolina. FPI shall also provide 100% of the after sales service and support required under the TACOM agreement. FPI is in the process of finalizing the detailed terms and conditions of the subcontract with BAE, which will have an estimated value to FPI of approximately $55,000,000.

http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001104659%252D06%252D039233%252Etxt%26filepath%3D%255C2006%255C06%255C02%255C&symbol=FRPT

[la-onda]

Cesar analysis  :

http://www.otcbbcoverage.com/stocks/index.php?topic=78.msg1190#msg1190

&
FRPT: Continues to Set Production Records in May
Monday , June 05, 2006 09:00 ET

Force Protection, Inc. (FRPT) has continued its record-setting production performance for the seventh straight month. The manufacturer presented 20 Cougar Joint Explosive Ordnance Disposal Rapid Response Vehicles (JERRV) to the U.S. government in the month of May.

"Our ramped-up deliveries began in November 2005, and the sustainable rate we sought then is evident yet again," said CEO Gordon McGilton. "We receive constant communication from troops in the field that these vehicles are saving lives. Their safety has been and will continue to be the driving force behind our efforts to meet demand for this critically-needed equipment."
http://www.knobias.com/individual/public/news.htm?eid=3.1.976b235841b2390c5606a6e9e7b40be5eafbd3f2db368256317bc105c4c7e74f

[la-onda]

judst a few slides, I have bought @ 4.83$


part 1:

[la-onda]

part 2: