ragingbull forant

http://ragingbull.quote.com/mboard/viewreplies.cgi?board=ORFR&reply=15

By: forant
28 Oct 2004, 10:55 AM EDT
Rating: Msg. 15 of 29

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ORFR 1.48...this PR post close today...story just keeps getting better...first PR then my post from earlier this week;

http://biz.yahoo.com/prnews/041027/phw052_1.html


ORFR 1.48...52wh 1.77: Points to consider:

-look at the composition of products in this $4m of orders announced in Aug...below from last PR (this is another company that does not release often)...of note is the RF absorbing materials...RF absorption is now a key tech thruout the DOD product programs:

From PR:
These new orders incorporate many of our products and antenna measurement technologies: compact range, far-field, near-field, RCS and RF absorbing materials, into turnkey systems," said Israel Adan, President and CEO of Orbit/FR, Inc.

-revenue for the 3mo June was up 67% vs comp qtr last year at $5.5m and was up 18% sequentially over 1st qtr. Margins were 37% vs 26% last year and up from 34% first 3mo. Net income for qtr was $407,000 vs loss of ($683,000) last year, over a million dollar swing, $.07 vs loss of ($.11), and up from net inc of $18,000 in 1st qtr.

-same story for the 6mo-from PR:
The Company's revenues for the six months ended June 30, 2004 increased approximately 28% to $10.1 million, up from $7.9 million for the six months ended June 30, 2003. The Company's gross margin for the six months ended June 30, 2004 was 36% compared to 29% for the six months ended June 30, 2003. The Company's operating income for the six months ended June 30, 2004 was $574,000 compared to an operating loss of $662,000 for the six months ended June 30, 2003. The Company's net income for the six months ended June 30, 2004 was $420,000 (or $0.07 per basic and diluted common share), compared to an $856,000 net loss (or $0.14 per basic and diluted common share) recognized during the six months ended June 30, 2003.

-the customer list for defesne, wireless and automotive is blue chip:

Wireless Communications............. Alcatel, Andrew, AT&T, Bell
Atlantic, BAE, Bosch, Celwave,
Chelton, Daewoo, Ericsson, GTE, IBM,
ITT, Korea Mobile Telecom, Lucent
Technologies, Motorola, NEC, Nokia,
Northern Telecom, NTT, Qualcomm,
RCA, SiemensPlessey, Thales
Antennas, Telebras and Tenovis.

-look at this info from the last 10k:

/DEFENSE. The need within the aerospace/defense community for
accurate and secure communications and tracking systems led to the emergence of
microwave test and measurement companies in the 1960's. Recent growth in
Homeland Security and Department of Defense budgets are expected to provide
additional opportunities for the Company.

The industry's tracking requirements, such as air traffic control and
missile guidance, led to the development of Radar Cross Section ("RCS") and the
test and measurement of radomes. RCS involves the transmission of microwave
signals towards a passive target, such as an aircraft or missile, and then the
creation of an "image" of the target by measuring the energy reflected back
towards the transmit source. Radome testing evaluates the impact of a radome
(the dome-shaped casing that is placed on the leading edge of an aircraft or
missile to protect the radar and direction-finding equipment) on the microwave
signals that pass through it.

-I have been following them for years now and for the last 8 qtrs in a ROW they have had sequentially improving results. Order flow has been improving qtr to qtr and the company is well positioned IMO for present day requirements from the DOD, Homeland Security Agency and automotive. With two profitable qtrs in a row accompanied by rising revenue last 3 qtrs the company's stock price is undervalued quite a bit here at a buck forty-eight. If they stay on trend and deliver for qtr end Sept 30 the price, with only 6m outstanding, no pref, will move quickly as this stock trades very tight. So have it on your list somewhere and watch for the PR. A good earn release will move this well beyond today's price given the sectors and niches the company serves.
Satellite .......................... Astrium, DASA, Elenia Spazio,
Harris, Lockheed Martin, Space
Systems/Loral, Raytheon and TRW.

Automotive.......................... BMW, Daimler-Chrysler, Ford, Fuba,
Mitsubishi, SAAB, Samsung and
Toyota.

Aerospace/Defense................... Aerospatiale, Allgon, Ball
Aerospace, Boeing, BAE Systems,
Dassault, Elta, Ericsson Microwave,
General Electric, Israel Aircraft
Industry, ITT Avionics, JPL,
Lockheed Martin/Loral, Mitsubishi
Heavy Industries, NASA,
Northrop-Grumman, Nurad, Pratt &
Whitney, Racal Avionics, Raytheon,
Rockwell International, SAAB
Missiles, SPAR Aerospace, Texas
Instruments, Tracor/AEL and the
United States Air Force, Army and
Navy.
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16 The MM's are letting buys in at 1.55 now, but not