NED's P/E is about 1 because of the $3.7 CASH/share.
Earnings for this year is about $1/share. The cash from last quarter was $3.65 /share (generally from the Oct. IPO). Earnings is about $0.98 or $1/share. By the end of this year, the cash would be over $4.5/share.
So here you have a stock growing over 30% a year, yet with a P/E of about 1 (excluding the cash) by the end of this year!
That means that the stock will be all in cash within 2 years!
That's absolutely ridiculous. This stock is almost a free gift.
Since its new DLDs have already entered the market this month, NED's 3nd and 4th qarter earnings ended on Mar 31 and Jun 30, 2008 are expected to be very strong, therefore, its annually growth rate will be much higher than the previously predicted 30%, and consequantly, its earnings of this year, I would say, should be around $1.50/share, not $0.98/share, and of course, NED's forward PE should be much lower then. But I believe NED's share price will not stay in single digit very long.