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  • mmmparsley mmmparsley Mar 2, 2009 8:58 AM Flag

    Hard to believe...

    this went down to 13 bucks per share.

    You look at the numbers that just came out for continuing operations, plus the fact they expect to grow revs q/q (not y/y) by 12 percent. Do that every quarter and it's a 58 percent annual gain. Why not assume that figure as we have not yet been provided with 2009 numbers.

    So this company is still growing near 60 percent, hasn't recognized a dime from the HPV acquisition and is still trading at shockingly low multiples before or after convertible offerings dilution - but that money raised will likely be turned into cash flow far above the negotiated interest rate. So it's fair to take non-gaap earnings of .67 and assume .77, .88 and 1.00 earnings over the next 3 quarters, plus the recent one announced today.

    3.32 earnings x 10 Forward PE, now how about 20 forward PE - so where does that leave us? How about a current 15x PE? Seems very conservative right? But do you know where that would take us?



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