Point Blank Solutions Inc. Q2 2008 Earnings Call Transcript

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2008-09-24 17:32:16.0

Tags: Point Blank Solutions Inc.

Question-and-Answer Session

Operator

(Operator Instructions) And your first question comes from the line of Mark Maine of Raymond James, please proceed.

Mark Maine - Raymond James

Morning, gentlemen.

Larry Ellis

Morning.

Mark Maine - Raymond James

I was wondering if you might be able to go back and give a little bit more detail in terms of the open solicitations that are outstanding for the remainder of the year and the dollar amounts associated with them?

Jim Anderson

I can certainly help with some of those we do have, and I am not going to give dollar amounts out because the solicitations haven’t been issued yet. General?

Larry Ellis

As far as the ones that we have bid on there is the 756,000 IOTV in the base buy. In that buy there's also 253,000 that the DAPS. The OTVs, there is a DSCP defense supply center of Philadelphia, 45,000 OTV solicitation that we bid on. There is 33,000 Iraqi vests that we bid on earlier and should be awarded some time late this month.

Most of the ones we have actually bid on at this point in time, there are a number of ongoing solicitations that we’re pursing.

Mark Maine - Raymond James

Okay, those are the only open ones as of now?

Jim Anderson

Those are the ones we have bid on and the bids have closed.

Mark Maine - Raymond James

And did you say that you guys are now at an average of 60% of orders since the start of the war on terror?

Jim Anderson

Sixty percent for the IOTVs; 75 to 80% of the interceptor OTV.

Larry Ellis

And that does not take into consideration the international as I discussed earlier.

Mark Maine - Raymond James

Okay and in terms of competition for these larger contracts, is it your understanding that it’s open to multiple parties or is it really down for this like 756,000 between yourself and BAE?

Jim Anderson

It’s open solicitation and there have been a number of folks that have bid on it that we’re aware of. It does say in the solicitation that they expect to award two contracts but I would say that there could be more than two.

Mark Maine - Raymond James

And I know that it’s a closed process but are you able to give a little bit of light of how things have proceeded with Wachovia Securities and how many interested parties you guys are still in discussions with?

 

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