SPAL.11,on.02 earnings per share.Should be minimum .20 at P/E of 10,and .40 at P/E of 20 times earnings.Way undervalue.
Should be on the watch list.
Revenues
Revenues for the nine months ended September 30, 2004 increased $2,680,103 or 21.95% to $14,890,741 from $12,210,638 for the nine months ended September 30, 2003. This increase was due primarily to the growth of our customer base through an increase in regional coverage, the acquisition of portfolios of telephone clients, the sales carried out in prepaid card and the increased sales of telecommunications services through the implementation of selling campaigns and expansion into related businesses.
Net Income
Net income for the nine months ended September 30, 2004 was $643,728 versus $666,352 for the nine months ended September 30, 2003. This decrease was primarily due to a greater increase of operating expenses than the increase of gross margin. |
