Friday, May 2, 2008

DFNSE reports new order

Hello Stockdoublers,

DFNS (E) came out with news yesterday of a new order from the Israel Defense Ministry. (IDM)

You can review it here

It is a $4.5 million order, 1/2 of which will be delivered in 2008. So basically $2.2 million order for this year.

Overall its good to report new orders etc.. However IDM orders were worth probably $8-10 million for 2007. (We won't know until their 10k comes out.) IDM was worth according to my figures $7.6 million thru the first 3 quarters. So being a $2.2 million order is a big drop from that.
Now it is only May so they could come in with more orders etc... And I do expect 2008 IDM to account for more than $2.2 million for the year. But I would be hard pressed to see how it does better than 2007.
But we will see.

They need to expand their other 3 catergories especially their export military which has grown some in 2007 and hopefully continues to grow by big #'s in 2008.

What they need to do NOW though is release their 10k!! It has been over a month since the 10K was DUE. And over 2 weeks since the extension has expired. (which is why their is an E behind their symbol.)

Still waiting for the 10k.

I will report when that comes out.
thank you
Steve Hoven

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