Message #199 From:
Jason Date: March 3, 2008 02:26:42 PM
Force Protection Woes (FRPT Stock)
It turns out that Force Protection is not turning as much profit as first thought. The company reported significant increases in profit last quarter, but after further analysis will have to restate. The error was related to their relationship with GD General Dynamics who resells the vehicles to the military. Reports suggest that on a $dollar for $dollar basis Force Protections deal with GD is only increasing revenue, while gross profit remained the same. Mean while shareholders of Force Protection were lead to believe the company was well on its way to record sales an profit, with no shortage of demand in sight. What does this mean for the current share price of FRPT stock? Shares of FRPT traded down .63 as of3:30 EST.
