Micham/R59/Hweb- OTEL
EPS for the Sept qtr, after taking out income tax benefit, adding back restructuring charges, and adding back amortiztion expenses, was around $.75. PE appears to be tiny, except after you look at the balance sheet, and direction of revenues. $86M in assets after goodwill, and $164M in total liabiities. To make this balance sheet near healthy would take a massive offering of at least 9M shares. I would say 12M shares fully diluted instead of 3M. Right away the PE going forward would go to 8 going forward(based on the $.75 Sept qtr annualized) untaxed !
Also, what's the story with the declining revenues every qtr ? I know they went through bankruptcy, but why is their business on a steady decline, and it that expected to end soon ?
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