alif: Less than 15% is over 180 days. Think about this. Company reports about $10.5 million net income. If they write off $2.5 million as bad receivables annually, that is still $8 million net income.
First, for these type payers what percentage over 180 days is likely bad? Without more knowledge, it is just speculation.
The company claims 2009 will be good and the company in my opinion has a good track record.
For now I think in the low 80 cent range it is a better value than when it peaked recently.
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