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Views: 639
Posts: 31
 
Covers Linesmen
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Joined: Oct, 2005
Posts: 66698
Posted: #26
fyi - fed meeting tomorrow

100bp cut may happen
 
Veteran
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Joined: Feb, 2006
Posts: 3392
Posted: #27
Look at the volume on the LEH April $10 puts!!! 
 
Legend
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Joined: Dec, 2001
Posts: 85256
Posted: #28
rink - you domicile in bermuda to avoid taxes
 
like I said. an offshore scam. hopefully THAT comes to an end next year.
 
as for MF's statements, they better not be bullshiting  or it's.......
 
 
Prospect
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Joined: Mar, 2008
Posts: 2
Posted: #29
Quote Originally Posted by LeRinkRat:

freeking "Mr Toad's Wild Ride" AGAIN today, KOAJ
 
freeking FRPT has been all OVER the place. open low 1.03. bounce back to 1.42. now 1.21
 
stock is GROSSLY OVERSOLD. do they NOT make MRAP's anymore? I know they are delaying their 10K but THIS is NUTS.

 

FRPT

The killer news is that FRPT was left out of spring contracts which were for the rest of the year (news released on Friday). You are partially right, FRPT will stop making MRAP's in May, June, and July when its contracts run out. Where the competition will be making them until October, or the end of this fiscal budget year.

However they will continue to produced a couple hundred Cat I Buffalo MRAPs as they are the sole supplier in Catagory I MRAPs. I believe their last contract had options for 180 Buffaloes. And they have ILS for the vehicles delivered and retained in inventory.

The killer difference is the Army did not buy them, and the Marines did not need to buy more. The Army had a better long term performance record with BAE and OSH/NAVZ which won the remaining contracts for the MRAP program.

There are no planned budget beyond 2008. Meaning the MRAP procurement program ends. And completely right they stop making MRAPs this fiscal year.

 
Covers Linesmen
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Joined: Feb, 2003
Posts: 56851
Posted: #30
That is the worst case scenario and only for US purchases. The company recently got a contract for European builds, plus they have service contracts for existing vehicles.

The price the stock is at now is lower than what they could fetch for cash and inventories..let alone the manufacturing plant in progress which MANY competitors lack the production capacity this gives them.

They got hit this year, no doubt about it, but the market is pricing them completely gone which makes no sense to me.
 
 
Prospect
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Joined: Mar, 2008
Posts: 2
Posted: #31
They only service a percentage of the service contracts. The DoD subcontracts out the rest to whoever can handle it, along with doing service itself. So look closely how much FRPT captures of available service contracts.
 
Producing only Cat I Buffalos those European contracts come up for production and delivery in 2008 instead of 2009 (since DoD no longer reserves them for themselves)
 
So much competition has showed up there are no assurances FRPT will get any contracts beyond the British and Italians. The Indians have decided to produce their own after procuring some steel that was in short supply being used by us for armor kits.
 
Gone I agree, if there are no more contracts. Production goes from 300/mo to Buffaloes only.
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