Here is some information from the 8-K/A regarding the acquisition of Questar (sorry about the formatting):
Statements of Income for Questar
For the Years Ended October 31, 2005 and 2004
2005 2004
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Earned revenues (Note 6) $24,670,305 $16,837,410
Direct costs 12,997,437 8,991,277
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Gross margin 11,672,868 7,846,133
Operating expenses (Note 2) 7,480,872 5,775,843
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Operating income 4,191,996 2,070,290
Interest expense 43,555 111,768
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Net income $ 4,148,441 $ 1,958,522
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Pro forma amounts as if the Company
were a taxable entity (Unaudited):
Pro forma income tax expense $ 1,659,376 $ 753,409
Pro forma net income $ 2,489,065 $ 1,205,113
Statements of Income (Unaudited) for Questar
Six Months Ended April 30, 2006 and 2005
2006 2005
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Earned revenues $17,129,269 $14,728,765
Direct costs 8,784,310 7,529,248
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Gross margin 8,344,959 7,199,517
Operating expenses 3,997,048 4,420,716
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Operating income 4,347,911 2,778,801
Interest income (expense) 72,824 (16,869)
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Net income $ 4,420,735 $ 2,761,932
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Pro forma amounts as if the Company were
a taxable entity (unaudited):
Pro forma income tax expense $ 1,768,294 $ 1,104,773
Pro forma net income $ 2,652,441 $ 1,657,159
These are some very impressive numbers. Their pro forma taxable income for the six month period ending April 30, 2006 was 2,652,441. That is an average of 1,326,220 per quarter. That figures out to earnings of $0.26/share just for Questar! Of course, this number would be reduced by the finance costs related to the acquisition. However, I figure that this os only 189,600 which would still figure out to $0.23/share.
Mike