Veltex Corporation (VLXC)

[pual]

This analysis must have been done by someone that has not followed the company what soever and I doubt he even understand the stock markets...

-Shares outstanding is already totally wrong (actual is 42M +)
let's do it right (assuming the other lines are somewhat more realistic)

2003E = (assume 42M shares) EPS = 20 cents
2004E = (assume 45M shares) EPS = 20 cents
2005E = (assume 48M shares) EPS = 25 cents
2006E = (assume 50M shares EPS = 31 cents

If you beleive a STABLE (???) multiplier of 20 all the way, it give a value per share of $4.00, $4.00, $5.00, $6.20

If the earnings % (Earnings/revenues) is to be 25%, 22%, 23% and 25%, i.e. pretty stable, the above could be true but you must agree that whoever produced this analysis did not work very hard and anyone in here can produce something like that in trying to define what his dream could become.





Roger