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Message: Reality check:

Reality check:

posted on Jun 03, 2009 08:58AM

Previous "great"post by Hell_fire1:


Check it out... all VERIFIABLE DATA

Profitable since 2007
Highest-rated MRAP product line
No Debt
No Legacy costs
No Pensions
Insiders loaded up in DEC
Orders from England, Canada and France to be filled
Force Armor Patent and first sale
Over $80m Cash on hand
Untapped $40m Credit line
Cheetah Factory open for business, PAID FOR IN FULL and awaiting Afghan orders.
MRAP Patent
At least 3 profitable Qs front loaded.
Leading buyout candidate
Five upgrades in Dec.
Stimulus package ready to surface.
Low Float.....

GENERAL DYNAMICS / RAYTHEON / FRPT JOINT VENTURE
CONSIDERED FAVORITE TO WIN MATV

We generated net income of $11.2 million, (inaudible) to $0.17 per fully diluted share that compares to $8.3 million or $0.12 per share in 2007. We generated $36.4 million in cash flows from operating activities in 2008 compared to our cash use of $9.1 million in 2007, a $45.5 million improvement year-over-year.

Now looking at the balance sheet, you will see a continuing improvement in the strength and quality of the balance sheet. Shareholders equity rose to $278 million which included retained earnings of $21.3 million compared to an accumulated deficit of $25.6 million at the end of 2007.

Inventories decreased to $88.5 million from $140.6 million in 2007. Accounts payables decreased to $47.1 million from $146.5 million, a reduction of nearly $100 million. Cash in at the year at $111 million.

I would also like to highlight a couple of items related to the balance sheet. As you can see, we have almost no short-term or long-term debt and the company has no defined benefit pension plans and therefore pension funding requirements.

Finally, we have a $40 million credit facility extending to April 2010 that is not been used.

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Navistar’s tenure as the No. 1 U.S.-based armored vehicle maker may be short-lived because the MRAP program to supply vehicles in Iraq is winding down and requirements for Afghanistan will be smaller, said Dean Lockwood, a military-vehicle analyst at Forecast International in Newtown, Connecticut.

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