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Birdstone

06/03/14 4:27 PM

#3315 RE: scubastevo80 #3314

Scuba, not sure if you mean 2016 when you say 2015. ATRS will not do anywhere close to $100MM in revenues next year. Here's my rough projection for the next 5 years:

2014
Rev = $30MM
Net Profit = (Loss)(assumes 35% net margin for all periods below)
Shares = 140MM (conservative)
Price Est = $4.53 (discounting blended future earnings with 20x p/e and 20% annual discount rate)

2015
Rev = $55MM
Net Profit = $19MM
Shares = 140MM
Price Est = $5.81

2016
Rev = $106MM
Net Profit = $37MM
Shares = 140MM
Price Est = $7.27

2017
Rev = $186MM
Net Profit = $65MM
Shares = 140MM
Price Est = $10.45

2018
Rev = $290MM
Net Profit = $102MM
Shares = 140MM
Price Est = $14.50

tg12988

06/12/14 12:50 AM

#3320 RE: scubastevo80 #3314

Just as an FYI for calculating taxes - ATRS has $87M worth of Net Operating Loss (NOL) Carryforwards to offset federal income taxes. If their accountants are doing their jobs, they should also be tracking the state NOL's. So you should estimate a similar amount being offset for those as well.