One missing part for your analysis is peer comparison. Some discussion about competitors are very necessary. One easy comparison is GrenTech (GRRF), There are several listed http://www.google.com/finance?q=NASDAQ:TSTC. Will they pose threat to TSTC's growth in intermediate term ?
Since TSTC is expanding into Americas and other markets, their goals are from current 5% to eventual 30% of their revenue mix in 2011. Any obstacles to their goals? What providers/customers in Americas think about their products? I remember one poster (consulted his Standford-educted engineer brother) didn't think high about WDFS. What matters is the real customers.