mid-1999 when it earned $1.00 per share. Based on the most current quarterly numbers, 2002 could have earnings around $1.20. In the early days, WHC used to carry a P/E of more than 50. In today's market, it is not unreasonable to expect a P/E of 20 which would make WHC worth around $24. Today's price is very inexpensive since the company is continuing to expand capacity domestically and internationally.