positive earnings should result in a lengthy positive run.
I think the P/E is still suffering from the timing ATH went to market. Not too many companies could have pulled off going public 13 months ago.
Look for major future aquisitions to position ATH as a "Top 5" carrier in the near future. Multiples are down after the frenzy of the late 1990's. Everyone thinks ATH overpaid for Trigon. Just think what the price would have been 4 years ago.