Core Insights - Forum Energy Technologies (FET) experienced a significant share price increase of 32% in June due to securing a large contract with a military client [1] - The company announced a contract with the Indonesian Navy for a submarine rescue vehicle (SRV) system, which includes a custom-designed launch and recovery system and a decompression system [2][4] Contract Details - The SRV, named LR600, is designed for rescue operations, capable of operating at depths of up to 605 meters (1,985 feet) and can carry up to 20 people [4] - The LR600 will be integrated with a hyperbaric rescue facility, with construction taking place in England and Texas [4] Company Statements - CEO Neal Lux emphasized the company's advanced technologies and their importance in the subsea sector, highlighting the diverse product portfolio and technology capabilities [5] Financial Performance - Forum's annual sales have increased from just under $512.5 million in 2020 to over $816 million last year, indicating a strong growth trajectory [6][7] - The company has only reported a net profit once during this period, with a profit of $3.7 million in 2022, suggesting challenges in profitability despite revenue growth [7]