So I see the average 2013 EPS is $1.08 on $337mil of sales. Doing the math this translates into a 44% gross margin with $100mil of G&A expenses.
My first reaction was of disappointment when seeing this $1.08 EPS, but I have to admit that's possible. I can't see G&A being any lower than $100, but if margins were at 47%, that moves EPS to $1.30. And of course any extra sales help.
So i understand the skepticism by the market for Skul, but I'm not underestimating the brand and the real possibility that sales are greater than projected, starting with Q4.