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MikeDDKing

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MikeDDKing

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Wednesday, 11/21/2007 9:24:36 PM

Wednesday, November 21, 2007 9:24:36 PM

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SHPI is experiencing some excellent growth. YTD they have had 43.6% revenue growth and 657% earnings growth. They have GM in the 66% ballpark which is why the strong revenue growth drops rapidly to the bottom line. Earnings growth next year should be spectacular as well. The big driver of this growth will likely be a move into the international market. They also are planning some new products.

Right now I'm estimating 2008 revenue of $23.5M and EPS of $0.08. With a PE of 20 that suggest a price of $1.60 in late 2008. That would be a big jump from $0.87 where SHPI closed today. SHPI will provide guidance along with their Q4 report. That report will give us a better idea of the kind of growth to expect. I wouldn't be surprised if their guidance is higher than my estimate.

The biggest risk that I can find with this company are their patent lawsuits.

Mike
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