Beacon was wrong on the O/S. As per last Q, Weighted-average number of shares of common stock outstanding was 247,894,847 (3 months ago). I don't think that there was any dilution by 100% because if there was, CFUL would be trading at $0.0001. This is a thinly traded stock with little momentum. So, the PPS should be as indicated on its most recent filing.
Here's my computation:
Revenues $150,000,000.
Net income margin (after taxes, interest, and amortization) of say 30%.
Thus, EPS =Net Income (NI)/Shares outstanding (O/S) = $45,000,000/250,000,000(rounded) = 0.18
Price Per Share = EPS x PE (multiples of 20) =0.18 x 20 = $3.60