Force Protection Inc. (FRPT) Announces $92 Million Contract and Receives “Buy” Rating from Major Investment Bank
Force Protection was recently awarded a $92 million sustainment contract for MRAPs and expects the work to be completed by November of next year. The company’s revenue is projected to reach $130 million from ongoing field work for its fleet of Cougars, Buffalos and MRAPs in 2008. The company also indicated that its Cougar production in October was 195, and approximately 12 buffalos, which exceeded the 169 delivery goal. Reports have hinted that the JV is scheduled to deliver a little more than 800 vehicles in the fourth quarter. Meeting this mark would be enough to meet or pass expectations.…