my understanding is that the 19 percent margin was because of pass through coal purchse for testing. they stated that the margin w/o the coal pass through was 64 percent. I believe that this coal purchase pass through was a one time event, and we can expect in the 64 percent range going forward, but I could be wrong.
I think you are right. But - most of the value of money is in the early years of a continous stream of money. If you assume a 5% discount factor, about 40% of the value of that stream would be in the first 10 yrs. Thus, using the same PE ratio, this would result in a share price of $40 to $50 for this alone in today's dollars, even if you assume this stream goes away after 10 years. just my opinion.
I stopped in Wegman's in W-B Pa when I was visiting my father this past weekend. Wegman's is a very impressive store. There was a relatively small section with "Irradiated Beef" from Surebeam (one and 3 lb chubs). I wish "Irradiated" wasen't so predominate on the package but so be it. I did not see anyone purchase any in the short time I was there. I asked the person running the meat area if the irridated meat was selling. She was surprisingly well informed about the irradiated beef. She stated it was moving pretty well. It was espically popular with the local Lebanese people who like there beef more on the rare side (Kibee?). She stated that in her opinion, this was the future direction of all meat. It kind of made my day.