There is no problem. Just keep buying back at these levels. Hopefully, the stock drops to 1 so TSRI can buy back 25 percent of its stock per quarter. However, even with the present P/E, buying back 20 percent of shares a year is not too shabby. Maybe when the P/E becomes 3 in about a year if the price doesn't move, they can offer a 15 percent dividend.
All they have to do is keep revenues from falling too much. Nice cash business, clean looking financials. Conservative, stockholder oriented management style. I'm hoping they can just hold the line on revenues. If revenues were to start growing, we'd have a three bagger from this level, but I'm not planning on the revenue growth, just good, value oriented, management of the cash flow and stock buybacks.