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ARMOR HOLDINGS INC. /Jacksonville, Florida Street Suddenly Wakes Up To Security Firm.(THE NEW AMERICA)
Byline: M. Susan Basas
To hear Jonathan Spiller tell it, a month ago might as well have been 10 years ago.
His company, Armor Holdings Inc., provides security products and services to law enforcers, government agencies and other clients. But it's never gotten much attention from Wall Street.
When the firm in August closed its $53.7 million purchase of Kroll-O'Gara Co.'s security products and services division -- a deal that brought aboard the world's top provider of armored vehicle services -- its stock barely bobbed above its 100-day moving average.
Then the world changed.
Most stocks took a fierce beating following the Sept. 11 terror attacks in New York and Washington, D.C. But Armor's share price rocketed 39% to $19.92 the day the markets reopened. Since then, trading volume of the stock has held at 10 to 15 times normal levels.
And Spiller's phone has been ringing off the hook.
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