Yeah but revenue are probably going to be down y/y in q4, we went from a growth story, to a value story today. Hence a different multiple needs to be given. Those that were planning on giving 12-15 Multiples can take those number down to about 7-10 for fair value. Now granted 7 times is $0.98 if they hit the low end of FY 2009 guidence. So it is probably undervalued, but the fact that they didn't reiterate guidence does make me believe they may not hit guidence.
Gross Margins were down sequentially this quarter, and you have to wonder if they will dip some more in q4 versus q3. The question is how much sales will be down y/y in q4? Will Margins continue to drop sequentially? Today was not good news no matter how you look at it, but it is probably undervalued here in the mid 70's. Having said that I hold no position in the stock at this time, and am not looking to acquire one, My guess is if your a buyer you will have a chance to acquire shares in the low to mid 60's before q4. Then again my predictions haven't been very good lately so who knows? Just my opinion.
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