AVNW, Wade and Hweb, playing devils advocate here...AVNW has already doubled in the last six months.
AVNW earned about .16 per share in the December quarter if you take out the one time gains of approximately $1,000,000.
The Book to Bill was under 1, so I take it backlog is down sequentially.
They are moving into their seasonally weakest quarter, so they may be around breakeven in the upcoming quarter.
If we assume $72.5 million in the June quarter, thats $4 mil more than this quarter, maybe $1.2 mil more in gross profits, and maybe $750,000 net to the bottom line. So on an after tax basis earnings would be around .29/share for the June quarter.
Now, I understand AVNW has had a tremendous turnaround, and they've done a great job cutting some costs and increasing their margins. We know guidance over the next few quarters, and it shows great bottom line numbers vs the comps, but not an inexpensive p/e......as reflected by the doubling in share price over the last six months.
So I take it you guys have great confidence that AVNW will continue to grow strongly in the second half of this calender year, b/c I think you need that to justify expectations that the share price will move higher.
And with backlog down a tad this quarter, that may be difficult unless backlog grows a bunch during this current quarter. Seems real important that you see a big jump in backlog in the March qtr report.
best.
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