doesn't matter what happened last Q. Only matters what is happening with this company this Q and in the future. Beginning 2007 with a $96.4 million backlog and more millions (don't remember exact figures) in signed contracts is off to a great start.
"For the full year 2007, the Company expects revenue of between $95 million and $103 million and earnings per diluted share of $0.25 to $0.30."
If they make 30 cents a share, a price of $10 would give a PE of 33. At $20 per share the PE would be 66. At $30 per share the PE would be 100. Does that seem realistic? This assumes, of course, that they can actually make their own guidance which is a major assumption based on past performance.