So you wanted to be tortured again and listened to the call one more time? More power to you. I was actually remembering margins were estimated at mid/high 40s, which to me is 47. Anythink 45 and higher is solid in my opinion with the assumption that gross sales continue to increase by more than the margin loss, which I think is very likely.
Andrus noted last week that barriers to entry are increasing, so it's about weathering the storm until it;s down to 5 or so companies.