China Growth Stocks

[2morrowsGains]

BOPH...10k is out. FY2011 Non-GAAP adj pro forma diluted EPS = $0.98. Current share price = $0.88.
Here's how I arrived at the EPS number...

On page 47 of the 10k is the non-GAAP adjusted diluted earnings per share of $0.66.
On the last page of the 10k is the 2011 pro forma diluted EPS of $1.07 (which includes the recent acquisition)..
Since the pro forma is figured in GAAP, subtract BOPH's GAAP EPS of $0.75 from the $1.07 and you come up w/ $0.32. That is what the aquisition would have added in EPS for FY2011.

Add $0.32 to the FY2011 non-GAAP adj EPS of $0.66 and FY2011 non-GAAP adj pro forma EPS = $0.98!!!!

Current share price = $0.88 so BOPH is looking HUGELY undervalued!! PE is less than 1.
Pro forma sales (inc acquisition) = $127M. The share price is $0.88??
Book value is over $3 WITHOUT the acquisition.

Also, now that the 10k has been filed by the new auditors Marcum Bernstein & Pinchuk, it should give Bohai more credibility.


http://sec.gov/Archives/edgar/data/1443242/000114420411055382/v235937_10k.htm