Achieving double-digit earnings growth (eps level) in 2008 would imply a minimum of $7.77 in e.p.s.
At par, that yields at P/E ratio of 12.9x, slightly lower than the P/E currently on GE.
With $3.5 million in cash at year end 2007, we could envision more than $15 million of cash at the end of 2008 absent any share repurchases. A $20 million share repurchase could cut the share count by 8% or so (assuming some premium were needed to get the shares in). That would leave the company is a pretty strong financial position come year-end, in my view.
I'm glad I lightened up a bit in the 120s in recent months. Wish I had lightened a bit more.
Someone's accumulating shares in the 98 - 100.98 area. They were responsible for taking the stock down, and keeping it there just so the could accumulate before taking it back up. Some are more intent in taking advantage of the situation than others. And, some have more resources than others. Hmm, I wonder if Buffet has his eye on Atrion, just his type of well run company?