The major part of sales jump in 07 was due to a big jump in Canadian sales. Sales to US customers actually flat.
Outlook stated was somewhat different than in press release:
"The Company believes that 2008 revenues will be higher than 2007 revenues and that the cost of goods sold, gross profit, operating income and net income will each be higher in 2008 than in 2007. Net income in 2008 will be negatively impacted by an increase in the Company’s income tax rate. The Company further believes that in 2008 the Company will have continuing volume growth in most of its product lines, complemented by the introduction of new products."
Just to clarify, IMO I think the year's earnings will grow off the $6.71 core 2007 earnings when you deduct the dispute gain. My guess is $7.50 with $7 of cash per share at 12/31/08. Dividend will almost surely get hiked 15-20% in August. You decide what PE ratio to put on it..