Question-and-Answer Session
Operator
(Operator Instructions)
Your first call is from the line of Art Weiss of Group D Capital.
Art Weiss of Group D Capital
Hi everyone, to start with can you comment on your law enforcement business in the fourth quarter was obviously improved dramatically may comment what is going on there and is that an indication of what’s to come for 2008?
Jim Anderson
It is an indication of what’s coming for 2008; recently we introduced a project called Thorsio, which is an anti-taser. The General mentioned that in his presentation. That’s the only ones in the industry that has that and with the proliferation of tasers, we think that is going to be a very large seller.
We also introduced a vest called Vision, which is the top of the line vest, the lightest in the industry and it has been very successful. We would anticipate that those continue.
Additionally, PACA will be introducing a new line of vests shortly. It began with the Bruce Field vest that they introduced earlier this year and that will continue. Yes, I think there is a demand for our products and the products are being enhanced daily.
Art Weiss of Group D Capital
Then, on the military, the Army’s orders specifically, you guys don’t think now that IOTV order is going to come until the second half of the year.
Jim Anderson
That is the big purchase; today we received an RSP for 150,000 IOTV vests with a very short closing date. It is winner take all; low bid wins between us and the current maker of the item of the IOTV. There are only two of us competing in this.
Art Weiss of Group D Capital
It is just a matter of price for that contract?
Jim Anderson
That is correct.
Art Weiss of Group D Capital
Any timing on when you expect that to be awarded?
Jim Anderson
Shortly, it just came out today but it has a very short time turn around.
Art Weiss of Group D Capital
Regarding the back and forth with Steel Partners, you mentioned that you are not opposed to considering offers for the Company; it certainly seems to me that part of Steel’s intention, if they were to get on the Board, would be to have the Company put itself up for sale. You don’t seem to disagree with the idea that if somebody puts forward a good proposal that you would be interested in selling the Company. Why not just shop the Company yourselves? Have you considered starting a process to actually solicit bids for the Company?
- To read the full transcript on Seeking Alpha, click here »
