surged 13% Wednesday after winning a military order.
The Ladson, S.C., company got a $5.3 million contract to supply 40 "articulating interrogation arms" for Iraqi Light-Armored Vehicles developed by rival BAE Systems of the U.K.
The news comes as Force Protection fans are waiting for the company to score another major contract under the Mine-Resistant Ambush-Protected vehicle program, a lucrative Army truck contract that has recently made big awards to competitors
( NAVZ) and BAE.
Force Protection said the new contract calls for another 22 vehicles to be produced at its South Carolina home base as well.
"This contract represents an important component of Force Protection's operations," stressed CEO Gordon McGilton on Wednesday. "We are pleased with the opportunity to provide additional equipment that will expand upon the capabilities of the ILAV and provide needed protection for the new Iraqi ground forces."
To be sure, the ILAV-related order pales in comparison to the huge contracts that Force Protection has been pursuing for MRAP vehicles. Still, investors -- who have watched several big MRAP orders go elsewhere -- finally felt they had a reason to celebrate.
Wednesday's spike came after Force Protection shares, hammered by ongoing disappointments, touched a four-month low of $14.66 last week. Even after Wednesday's climb, the stock still fetches just over half the sum it brought in as summer began.
Shares rose $2 to $17.70.