(From Israel Business Arena)
Byline: Shlomi Cohen
FMS Enterprises Migun (TASE: FBRT), which makes ballistic sheeting for body armor, published excellent results on Sunday. The company's success came as no surprise to anyone who follows three publicly traded US security customers of FMS, which have also published fine results in recent days. Armor Holdings (NYSE: AH), which is in my portfolio, uses FMS's ballistic sheeting for body and military vehicle armor. Most of Armor Holdings' sales are to the US armed forces for combat use in places like Iraq and Afghanistan. Like FMS, Armor Holdings' sales and profits have soared, compared with last year - $0.70 earnings per share on sales of $257 million in the third quarter this year, compared with $0.22 earnings per share on sales of $91 million in the third quarter of last year.
The Armor Holdings share, which reached an all-time high of $45 in early October, receded to $37 on Friday, following last …