AFP Imaging Corporation (fka IWKS)

[elohssa]

June 30 projection:

March quarter showed revenue of $6.2 million. AFPC noted they gained much interest in their trade shows they attended in March quarter. So I think revenue can come in at least $6.5 million. At 40% margins they will gross $2.6 million. SG&A should be back to about $1.5 million (March quarter increase was attributed to the trade shows attended so the SG&A should be less June quarter).

Take out the normal $100K R&D and the $22K interest expense and it'll look like this

June 30
Revenue $6.5
COGS 3.9
Gross 2.6
SGA 1.5
R&D .1
Op Inc 1.0
Int Exp .02

Net Inc $980K

Shares 9.4 million

EPS .104 for June quarter

EPS .25 for Y/E June 30

So we're looking at PE of 9 for year. Laughable.

If you notice the volume picked up quite a bit on July 8 and for the next few days. IMO good earnings were "leaked"

PE should be at worst 15 giving us a share price of $3.75 at worst. Also I'd expect AFPC to apply for a listing this quarter.