If you assume 40% market share (8 billion revenue). You assume net profit marging only 15% (which is to low in my oppinion). Than you have a profit of 1200 mio USD. Shares out: 42 mio Which makes rougly 29$$/share earnings.
Take 62.7$/29$ and you have a forward looking PE off 2.3 So iff NTOP would trade @ a PE off 50 in 2003 the share price should be 1467 $$$$.
What does this tell you: The big guys know this and they are buying. Even if NTOP will have only half off the marketshare, they are extremely undervalued.