FRPT: Contracts, Partnership, and Cheetah?

FRPT is having a good run of positive press that started on Thurday with the announcement of European vehicle contracts. 184 Cougar's, Mastiff's, and Buffalo's are on their way to Britain and Italy and adds confidence that Force Protection can be a global supplier for mine resistant vehicles for years to come. Read the press release here. This morning FRPT announced a new partnership with DRS Technologies, Inc., to compete for the JLTV program. FRPT longs had worried that without a partner, FRPT would be a longshot at best contending with bigger rivals such as the Northrup Grumman-Oshkosh, and Lockheed Martin-Armor Holdings joint ventures. Read the press release here. Last but not least, the above photo posted over on the Yahoo message board. No info yet on how legit this is but surely a Cheetah in the picture. The question is, Where?
Additional MRAP news over the weekend:
Big Wheels for Iraq's Mean Streets-New York Times (featuring a great photo of Cougar productions line)
Marines: Story that said lack of MRAPs led to deaths 'mischaracterized report-Stars and Stripes (With link to reports)

News: FRPT and DFNS

Some positive news over the weekend for 2 of our picks, DFNS and FRPT.
FRPT: Senator John McCain visited Force Protection Inc., while campaigning through South Carolina. From the FRPT website: McCain had a fruitful visit to Force Protection Industries Inc., where he and his entourage inspected armored (vehicles) with names including Buffalo, Cheetah and Cougar. "What you're doing here saves lives," he told employees.
Hopefully management expressed to the Senator (who is the Republican ranking member of the U.S. Senate Committee on Armed Services) that they have an interest in saving lives for many years to come with the vehicle that his wife got to climb into for a photo op. That vehicle of course is the Cheetah:


DFNS: Announced that it has filed amendments to previously released financial statements. Basically, nothing has changed. That's good news.
Joseph Postbinder, CEO of Defense Industries said: "I would like to use this opportunity to note that these amendments will not impact our improved results for the nine months ended September 30, 2007. Our revenues for the nine months ended September 30, 2007 increased by $7 million, compared to the same period last year, to $14.2 million, and our gross profit increased by $3.1 to $4.8 millions. Net cash provided by operating activity increased by $3.5 million to $3 million, compared to net cash of $500,000 used in operating activities in the same period last year. We had a net profit of $1.2 million for the nine months ended September 30, 2007, compared to a net loss of $400,000 in the same period last year." Mr. Postbinder concluded, "I believe that we are well positioned for growth and expansion in our markets and we look ahead optimistically that our share price will in time reflect our company's true value."
Deliver a solid year end quarterly report Mr. Postbinder, and that time should come quite quickly. Full press release here.
By the way, stock blogger Steve Hoven has done some great DD on the valuation of DFNS. Check him out here: StockDoubling
Hope you make a Fast Fortune.

U.S. Marine Corps Impressed by FRPT Cheetah

DefenseNews.com gave FRPT some very credible feedback regarding its new "Cheetah" vehicle. Back on June 9th U.S. Marine Corps Commandant General James Conway visited the FRPT facility in S.C. and gave it a test drive.
“I’m excited about the latest addition to Force Protection’s family of MRAP Vehicles, the Cheetah,” Conway told the Marine Corps News, an internal publication of the Marine Corps, after the visit.
Read the full story here: Test Drive BoostsU.S. Marines’ Interest In Cheetah Vehicle
The Cheetah obviously made a pretty big first impression. The best part: Britain, Italy, and Turkey have also shown great interest. Pretty big news and much needed encouragement to stay long here.