Address 9801 Highway 78 Building No 1 Ladson, SC 29456 United States - Map Phone: 843-574-7000 Fax: 843-329-0380 http://www.forceprotection.net Exchange NASDAQ Index Membership None Sector Transportation Industry Trucks & Other Vehicles Held by these Mutual Funds Heartland Value Fidelity Balanced JHancock Small Cap Equity A Fidelity Select Defense & Aerospace Fidelity Advisor Value Strategies T Vanguard Small Cap Index JHFunds2 Emerging Growth NAV Vanguard Total Stock Mkt Idx MainStay Small Cap Opportunity I Perritt Micro Cap Opportunities Competitors General Dynamics Ceradyne AERG Alliant Techsystems Executives Mr. Michael Moody Chairman Chief Exec. officer and Pres Mr. Charles Mathis CPA Chief Financial Officer Mr. Daniel Busher Exec. VP of Operations Ms. Lenna Ruth MacDonald Chief Strategy Officer Corp. Sec. and Gen. Counsel Mr. Damon Walsh Exec. VP of Customer Operations Financial Snapshot Revenue Net Income EPS EBITDA Long Term Debt 2007 $ 890.7 M $ 7.7 M $ 0.1 $ 11.6 M $ 0.0 2006 $ 196.0 M $ 18.2 M $ 0.4 $ 7.4 M $ 0.0 Description Force Protection, Inc. manufactures ballistic and mine-protected vehicles through its wholly owned subsidiary. These specialty vehicles are protected against land mines, hostile fire, and Improvised Explosive Devices. The Company is a complete design-to-manufacturing organization, creating or licensing designs, and creating tooling, and parts necessary to assemble the products in-house. They manufacture their vehicles using proprietary technology derived from South African vehicle development programs carried out from 1972 through 1994, and incorporate design developments into the vehicles to improve their protection and functionality. The Company currently produces two blast-protected vehicle product lines. The Buffalo is a heavy weight vehicle designed principally for mine clearing activities. The Buffalo integrates a blast resistant capsule with an American-made truck engine and drive train. The Buffalo is designed so that the force of the blast is routed along the Buffalo's V-shaped hull and dissipated to the side of the vehicle so that the vehicle is not lifted or severely damaged by the blast. More than twenty Buffalos have been deployed since 2001 for service in Afghanistan and Iraq. The Company launched their second product line, the Cougar, in 2004. The Cougar is intended to serve a broader market than the Buffalo, because it can be configured for a wide range of missions, including urban patrol, route clearance support, utility transport and special unit activities. Like the Buffalo, the Cougar also uses the same V-Hull design principles, an armored steel capsule provides the mine, blast and ballistic protection for the vehicle occupants and the use of standard American automotive drive train and control components allows the vehicle to be operated and serviced in much the same way as a commercial truck. The Cougar is new to market and relatively few have been deployed in active theaters of operations, but they have received inquiries from a variety of military sources. The Company is developing a third vehicle, the Lion. The Lion will be the smallest of their vehicles at approximately 7 tons and will be positioned for use by security services or other agencies requiring a high level of protection for personnel transport Recommendation Detail* Rating Previous Date Collins Stewart Hold Buy Jan 16, 2009 Dougherty & Company Buy Neutral Nov 12, 2008 Collins Stewart Buy Hold Nov 11, 2008 Stanford Research Hold Sell Oct 02, 2008 Collins Stewart Hold Sell Mar 26, 2008 Collins Stewart Underperform Buy Dec 20, 2007 Dougherty & Company Neutral Buy Dec 20, 2007 Stanford Research Sell No Analyst Data Dec 13, 2007 Friedman Billings Outperform Mkt Perform Oct 02, 2007 Thomas Weisel Overweight No Analyst Data Apr 18, 2007 Sun Trust Rbsn Humphrey Buy No Analyst Data Jan 16, 2007 Dougherty & Company Buy No Analyst Data Oct 25, 2006 CE Unterberg Towbin Buy No Analyst Data Sep 18, 2006
$9.75 (06/02/09)
