Why SIMC will be hottest NASDAQ MO play
SIMC was hottest NASDAQW stock last few days but is only JUST STARTING. is still trading at a HUGE discount to fair value based on pro forma EPS of $.88 and Industry average PE of 27 for EMS sector. SIMC is headed to $20 IMO:
From the 10Q , SIMC WOULD HAVE EARNED $.22 IN MOST RECENT QUARTER IF LITTON / SNAI AQUISITITIONS HAD BEEN COMPLETED BEFORE THE QUARTER STARTED. That gives $.88 annualized earnings target going forward. Apply a standard 27 PE for sector and SIMC is $25 +.
NOTE 13 - Pro Forma Financial Information (Unaudited)
The following table provides selected unaudited pro forma financial information for the three-month periods ended March 31, 2006 and 2005 as if Litton and SNAI had been acquired at the beginning of 2006 and 2005 respectively. The unaudited pro forma financial information includes adjustments for intercompany transactions.
Three Months Ended March 31,
2006 2005
Pro forma sales $ 31,500,000 $ 27,800,000
Pro forma net income $ 1,400,000 $ 400,000
Pro forma earnings per share:
Basic and diluted $ 0.22 $ 0.06
