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Re: None

Wednesday, 09/09/2009 9:56:23 AM

Wednesday, September 09, 2009 9:56:23 AM

Post# of 5943
ROIAK = Fist-Pounding No-Brainer over the next several months/quarters IMO

(1) Earned +.12 EPS last Q. Annualized = +.48. Trades right now with a PE of less than 2! Book value over $4/share. Seems like the stock should be trading at $4-5 right now.

(2) ROIAK bought back 40 million of 100 million outstanding shares or 40% of the outstanding shares in the open market over the last year and is still buying back shares by the millions every quarter including currently with $50 million still left in their buyback program while the market cap is LESS than the amount of buyback left. Since the company can literally buyback its entire self at these prices, it seems like the downside risk is very minimal over any period of time. The float has been bought back down from 83 million to 43 million. At this pace, the entire float will be gone within a year

(3) Book value is around $4 so it trades at a tiny fraction of book value. Between the buyback and the high inside ownership, could the massive buyback be part of a management-lead buyout upcoming?

"The Company continues to have an open stock repurchase authorization with respect to its Class A and D stock and continued to make purchases subsequent to June 30, 2009."
"As of June 30, 2009, the Company had approximately $50.0 million in capacity available under the 2008 stock repurchase program."

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