AH: Armor Holdings, Inc. Message Board

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Technology Stocks : AH: Armor Holdings, Inc.

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To: Glenn McDougall who wrote (2)	8/7/2004 2:58:36 PM
From: DELT1970	of 3

I bought a little Armor Holdings (AH:NYSE) today on this comment from Friedman, Billings, Ramsey and the stock's recent weakness. "AH: Defense Appropriation Bill Signed; Pentagon Can Begin Spending Supplement--Reiterating Outperform Summary and Recommendation We rate AH shares an Outperform, with a $40 price target. Revenue growth over the next 18 months will continue to be driven by accelerated government contracts on Up-Armored Humvees and armoring kits, as well as body armor for law enforcement and the military. The market is not fully pricing in the growth opportunities that will materialize from budgeted and supplemental spending. Key Points President signs $416 billion defense bill. On August 5, the President signed into law the $416 billion defense appropriations bill, which included $25 billion for supplemental spending for Iraq. The Pentagon can now begin spending the $25 billion rather than wait for the October 1 start of the fiscal year. The supplemental includes $1.3 billion for force protection. Up-Armored Humvees. This bill includes $750 million for Up- Armored Humvees, with $587 million coming from the wartime supplemental and the remaining $163 million from the Army’s original funding request of 818 Up-Armored Humvees. The $750 million of funding translates into 4,500 to 5,000 Up-Armored Humvees. Small arms protective inserts (SAPI). The Defense Appropriations bill includes over $550 million in funding for Interceptor Body Armor (IBA). This should allow the the U.S. military to move forward on its outstanding contracts solicitations for over two million SAPI plates. The Army’s contract solicitation represents about 1.66 million units of the total plate demand. The scheduled award date for the Army's SAPI contract was July 23, but it has been delayed, with the award now expected by the end of the summer."

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