Growth is the permanent way to enhance shareholder value short term and long term.
Outlook for Fiscal Year 2008
Noah expects its total net revenue for fiscal year 2008 (July 1, 2007 to June 30, 2008) to be in the range of RMB680 million (US$93 million) to RMB690 million (US$94 million), representing year-over-year growth in the range of 22% to 24%, respectively. Noah expects net profits in fiscal year 2008 to be in the range of RMB115 million (US$15.7) to RMB120 million (US$16.4), representing year-over-year growth in the range of 74% to 81%.
No long should want management wasting cash on a buyback. This is a growing company and the best place for cash is in product development and sales initiatives. That is exactly what this management team is doing.