FRPT

[Stocky2000]

in at 6.60 looking to sell at 7.00 tommorrow....why the sell off....bad numbers?  way oversold based on bollinger band...a bounce for sure

[amstocks82]

The latest news about FRPT was released not by FRPT but by Spartan Motors. Spartan Motors is the sub-contractor for the FRPT Cougars as well as the BAE Cougars (FRPT's design). BAE had a conference call today (Oct 26, 2006) -- and below is some relevant comments from the conference call. My opinion now is that I believe that the current downturn in price per share is about over. I expect the price per share to rebound.


Spartan Motors Chassis Update
http://www .spartanmotors.com/webcasts. asp

Another reference:
http://biz.yahoo.com/prnews/061026/clth022.html?.v=75

Below is a partial "transcript" from the Conference call. I might have missed a word or two. The speaker is Mr. Sztykiel the CEO. The times given are from the time in the conference call:
13:28
"Military vehicles
It's has been a strong year, it has been a great year, however I do believe the best is yet to come.

We continue to gain revenue and profits from our sub-contract work for both Force Protection's Cougars and BAE's ILAV in the third quarter.

In the specialty vehicles / chassis perspective sales were up 259% in the third quarter of this year versus last year.

In addition BAE recently announced a small add on order of 20 units relative to the ILAV product and what is exciting about that is add-ons don't happen unless you are doing a very good job.

And as we look at the current ILAV contract, as mentioned in our earlier releases, the current contract is for 378 units, we have now had an add-on for 20. The total opportunity is 1050 and again, I wish to compliment all the associates both at Force Protection and at BAE and Spartan and all those sub contractors to move the ball in the right direction.

When I look at where we were on May 31st, building zero ILAV from a support subcontract perspective and where we are today, building at a rate greater than 5 a day, it is absolutely amazing and other people have noticed it both within the military and within Congress.

15:45:
I am also pleased you know again I would like to compliment Rick Schalter of Spartan Chassis for the ramp-up of the production on the Cougar and the ILAV. What is also so exciting is we have tremendous room for growth in the Military slash specialty vehicles chassis end of the market place.

Today, we are operating at a 35 percent capacity on a single shift so we are not capacity constrained in this area. The other thing that I wish to just share with all of you is as of today, there has not been even a single fatality in a Cougar or Buffalo of ILAV product. This is something absolutely fantastic. The product is flat out performing."


31:10:
Question from caller, "On the Military side of the business, you have this BAE contract and the ILAV contract, and you have some work on the Cougar, I'm just trying to map out what the production will look like for the remainder of 2006 and then going into 2007."

Spartan CEO: "As you look at '06', I see it building on a similar rate versus where we were at in the third quarter and that is where Jim made the comment that there should be a little drop off of sales versus Q3. As we look at 2007, we really see nothing from the end user, the military indicating that there procurement cycle of mine blast protected vehicles is going to slow down. If anything, what we see is questions how fast can you accelerate, how fast can you ramp-up. I think all of us if we look at the news etc. perceive that what is going on overseas is not moving in the direction that everybody anticipated. So as we hear the voice of the consumer, the questions which they are asking us is not what happens you know if we slow things down, you know, all the questions are what's your capacity, what is the up-line opportunity, or the strategic supply chain management issues for you to accelerate production. And the interesting thing is the marines have received products on the Cougar, the Army is coordinating the ILAV projects with BAE and Force Protection, however, those units will be going to the Iraqi Army. What's interesting is that if you look at our own forces in Iraq, very few are scheduled right now to be getting mine blast protected vehicles."

<end of excerpt from the Conference Call>

There are several spending programs for mine protected vehicles in the 2006 military spending supplemenal budget, the 2007 spending bill and the 2007 supplemental spending bill that will likely go to Force Protection. Force Protection certainly has a strong position given that after thousands of mine and IED blasts, no one has yet died in a FRPT vehicle. 

I think that there is so much business that the military is trying to evaluate just how many vehicles Force Protection can provide and on what schedule. In addition, Force Protection has gotten the order from the British which is delaying orders from our military.

The Buffalo had a simple redesign that was needed. The "Spork" which is the remote controlled arm that is used to pick up and check suspicious objects to determine if it is an IED. The hydraulic hoses were often getting broken by IEDs requiring that the Buffalo return to base to replace the hydraulic hoses. Therefore, the military asked for changes in the design to protect the hoses. This was done and has been tested. I expect that the military will have additional orders for the Buffalo after they complete evaluating the changes.

[amstocks82]

Further evidence that Force Protection is soon getting the new military contracts is the following link which has another attachment with some questions and answers about one of the military contracts. This is one of several that Force Protection is competing to get and Force Protection has already been selected as the sole source for the Buffalo or Category III vehicle:

https://www.neco.navy.mil/synopsis/detail.cfm?RecID=144910

"11.   Category III supports route clearance missions, EOD operations, and required to transport no less than 12 personnel (up to 64 vehicles).  Category III vehicles identified in RFI M67854RFIMPAV shall be pursued separately.  Could you please let us know how the Marine Corps is going to pursue these vehicles?  More specifically, will there be a full and open competition for Category III vehicles?

Answer:  Marine Corps Systems Command plans to award Force Protection Industries Inc,. a sole source contract for Category III requirements."

[la-onda]

nice bounce back, no money left to reenter now 

[setravis]

Press Release Source: Force Protection, Inc.


Force Protection, Inc. Named South Carolina's Fastest-Growing Company in 2006


LADSON, S.C.--(BUSINESS WIRE)--Force Protection, Inc. (OTCBB:FRPT - News) has been named South Carolina's fastest-growing company in 2006 by the state's leading accounting and business advisory firm, Elliott Davis, LLC, and by the South Carolina Chamber of Commerce.


The armored vehicle manufacturer was ranked first in the Top 25 winners who were announced Thursday (11/2) at the Chamber's Annual Summit event in Charleston. Now in its fifth year, the South Carolina's Fastest-Growing Companies(SM) program recognizes the private and publicly owned companies that have contributed to the state's economy through increases in revenue and employment.

"It is an honor for Force Protection to receive this recognition," said Force Protection COO Ray Pollard. "Since the company's beginning in 2003, the Palmetto State has continually had the resources we've needed to sustain our exponential growth. Force Protection is privileged to have South Carolina as an invaluable partner as we continue to provide our troops with the highest levels of blast protection available."

Force Protection has grown from a small start-up firm with fewer than a dozen employees in 2003 to a mainstream assembly line manufacturer with a workforce of more than 600 today. Production facilities and revenues have also expanded dramatically. The company's Buffalo and Cougar vehicles have been used by troops in Iraq and Afghanistan for more than three years without a single fatality.

About Force Protection

Force Protection, Inc. manufactures ballistic- and mine-protected vehicles through its wholly owned subsidiary. These specialty vehicles are protected against landmines, hostile fire, and Improvised Explosive Devices (IEDs, commonly referred to as roadside bombs). Force Protection's mine and ballistic protection technology is among the most advanced in the world. The vehicles are manufactured outside Charleston, S.C.

For more information on Force Protection and its vehicles, go to www.forceprotection.net.

This release contains forward-looking statements, including, without limitation, statements concerning our business, future plans and objectives and the performance of our products. These forward-looking statements involve certain risks and uncertainties ultimately may not prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Technical complications may arise that could prevent the prompt implementation of the strategic plan outlined above. The company cautions that these forward looking statements are further qualified by other factors including, but not limited to, those set forth in the company's Form 10-KSB filing and other filings with the United States Securities and Exchange Commission (available at http://www.sec.gov). The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise, except as required by law.

Contact:
Force Protection Contact:
Policy Impact Strategic Communications
Jeff Child, 202-737-5339 (Media Contact)
[email protected]
or
Force Protection, Inc.
Investor Relations, 843-740-7015
[email protected]

--------------------------------------------------------------------------------
Source: Force Protection, Inc.

[setravis]

Press Release Source: Force Protection, Inc.


More Force Protection Vehicles for the Global War on Terror
Friday November 10, 8:55 am ET 
Manufacturer Receives $214 Million Contract Award..................


LADSON, S.C.--(BUSINESS WIRE)--Force Protection, Inc. (OTCBB:FRPT - News) today announced it has signed a U.S. Marine Corps contract for approximately 200 Cougar Joint EOD Rapid Response vehicles, 80 Buffalo mine-protected clearance vehicles, parts and services. The contract will be administered by the Marine Corps Systems Command, and is worth an estimated $214,124,450.


Force Protection vehicles have an unmatched safety record in Iraq and Afghanistan, withstanding thousands of mine detonations and IED attacks since 2003 without a fatality. The South Carolina-based manufacturer, recently named the fastest growing company in the state, has supplied all branches of American armed forces with its blast- and ballistic-protected vehicles.

"We constantly see evidence that the unique V-shaped hull design of our vehicles will be the standard for any vehicle on a 360-degree battlefield over the next 10 years," said Force Protection CEO Gordon McGilton. "They have been proven countless times in the most demanding conditions. These vehicles represent a solution to the explosive threats our troops face, and they are being delivered in greater and greater numbers."

Force Protection, cited in Forbes, Fortune and other national media recently, has delivered more than 300 vehicles to the U.S. government to date.

For additional information, go to www.forceprotection.net.

About Force Protection

Force Protection, Inc. manufactures ballistic- and mine-protected vehicles through its wholly owned subsidiary. These specialty vehicles are protected against landmines, hostile fire, and Improvised Explosive Devices (IEDs, commonly referred to as roadside bombs). Force Protection's mine and ballistic protection technology is among the most advanced in the world. The vehicles are manufactured outside Charleston, S.C.

For more information on Force Protection and its vehicles, go to www.forceprotection.net.

This release contains forward-looking statements, including, without limitation, statements concerning our business, future plans and objectives and the performance of our products. These forward-looking statements involve certain risks and uncertainties ultimately may not prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Technical complications may arise that could prevent the prompt implementation of the strategic plan outlined above. The company cautions that these forward looking statements are further qualified by other factors including, but not limited to, those set forth in the company's Form 10-KSB filing and other filings with the United States Securities and Exchange Commission (available at http://www.sec.gov). The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise, except as required by law.

Contact:
Policy Impact Strategic Communications
Jeff Child, 202-737-5339 (Media Contact)
[email protected]
or
Force Protection, Inc.
Investor Relations, 843-740-7015
[email protected]

--------------------------------------------------------------------------------
Source: Force Protection, Inc.

[la-onda]

"We constantly see evidence that the unique V-shaped hull design of our vehicles will be the standard for any vehicle on a 360-degree battlefield over the next 10 years," said Force Protection CEO Gordon McGilton. "They have been proven countless times in the most demanding conditions. These vehicles represent a solution to the explosive threats our troops face, and they are being delivered in greater and greater numbers."

wow, two days away, and now this   
when will be good point of investing?
Pullback on monday morning?

[la-onda]

sold 2/3 the last few weeks (average around , today I will sell the rest or my shares (50% profit)

there are better investment opportunitys in the market now
FRPT will be on my watchlist

cheers
Oliver

locked my profits too early.
will be back invested in FRPT

cheers
O.

[setravis]

Good trading la-onda............Applaud !!

[la-onda]

black candle formed today, consolidation after earnings?

cheers
O.

[la-onda]

candle midpoint, time for investing IMO

[setravis]

Applaud the update... keep up the nice work.....
Welcome to "300" ! 

[la-onda]

Force Protection, Inc. Announces Continued Profitability for Third Quarter
Tuesday November 14, 5:21 pm ET

LADSON, S.C.--(BUSINESS WIRE)--Force Protection, Inc. (OTCBB: FRPT - News) today announced sales of $42,160,858 as part of its third quarter results for the three-month period ended September 30, 2006. The company recorded a quarterly gross profit of $7,918,508, and a net profit of $602,698 for the same period. Force Protection has realized year-to-date net profits of $1,171,080, generating year-to-date earnings of $0.03 per share.

"This is Force Protection's third consecutive month of operating profitability," said Vice President of Finance Richard Hamilton. "Sales for the quarter bring our 2006 cumulative year-to-date revenue total to $133,037,980, reflecting a dramatic increase from our 2005 full-year results."

Force Protection was recently named South Carolina's Fastest-Growing Company in 2006. The award, based on gross revenues and employment, recognizes the top 25 companies that have contributed to the state's economy. Since their initial deployment to Iraq and Afghanistan in 2003, no fatalities have occurred in a Force Protection vehicle.

"The third quarter was a period of internal growth for the company," said CEO Gordon McGilton. "We added two new vehicle production lines, improved efficiency within the facilities, and continued our workforce expansion program. The focus on these activities caused an anticipated short-swing dip in our third quarter revenue compared with our second quarter results, but it has positioned us to secure new contracts and handle the increased workload flowing from them."

[la-onda]

in @ 7.99 

[la-onda]

fyi: 

FORCEPROTECTION INC. (OTC BB: FRPT) RATING: BUY
PRICE TARGET $15.00

Looking to the Future Through the Windshield, Not the Rearview Mirror!

FRPT announced their third quarter operating results late on the afternoon of November 14th. Everyone knows the bad news (At this time of night, that phrase makes me think I might be sounding too much like the radio personality, Paul Harvey, for comfort.), ten vehicles were not inspected in time to be accepted by the US Government. Therefore, the revenue recognition approach that the Company uses did not allow for those associated revenues to be included in the quarter's results. Hence, FRPT reported $42.16 million of total revenues for the period.

On the other hand, even with the lower level of quarter revenues, the Company's operating results—particularly gross margin and bottom line figures—were impressive. FRPT reported a $0.01 in profit. Remember, this was on the basis of a much lower revenue number and the significant costs of starting a second Cougar manufacturing line and other quantum increases in the production process.

I think that it is important to note that if the 10 vehicles did get inspected, that would have added another $6.5 million to $8 million in incremental revenue. A back-of-the envelope calculation suggests that the firm should have made an additional 2¢. Or, produced an operating profit figure that would have equaled what FRPT delivered in the second quarter.

We now just have something to look forward to in the final quarter of the year.
It is very significant that the quarter's operating costs--particularly the G&A costs—were as restrained as they were. Think about what is happening. The company ought to be 4-times the size is was in 2005, yet operating costs while adding manufacturing and fabrication lines are nearly stable. It portends very well for 2007.

As to our model, we have updated the fourth quarter to better reflect the improved flow of business and strong operating margins: we are now using $0.10 for Q4. For next year, we have boosted out revenue number to reflect the start-up and operation of three Cougar lines, a ramp in production for Buffalos, and the beginning of "seeding" models of the Cheetah.
Given that combination of product increases, we are now using $598 million in sales.

Also based on the production ramp, we are modestly adjusting upward our estimated margins while continuing to restrain G&A in our model for next year. I know I'm going to be aggressive, but never have I witnessed in my 30 professional years in the market an operation that added production capacity and increased revenues like I have witnessed with FRPT.
More spectacularly, this has been done with incredible Op Ex restraint. On that basis, we are now using $0.90 in fully taxed EPS for 2007. Valuation for the shares can be approached from two perspectives: essentially 15-times $1.00, or using a higher multiple given the service and repair component of the trucks and the technology, on a lower risk-adjusted earnings figure. The target today is the mid –teens.

link:
http://catalystresearch.biz/files/FRPT_Update_Report_11_15_06.pdf