ASTC,
With the recent drop to 0.94, I decided to look more closely at this one and follow up with MikeS97707.
MikeS97707, any reason why the stock is down recently? Blues about the end of the space shuttle mission? Worries about possible cuts in government spending? Specific company news I don't know about?
According to what I see in the filing, ASO made only $1,107 mil for the 9 months ended Mar 31, 2011, which is about $0.06 per share not $0.35 per share. My estimate for ASO profit for the 12 months ended Mar 31, 2011 is actually a little worse.
So I am assuming you are using the June 30, 2010 to get the 0.35/share in earnings for ASO? If so, why is that more representative than the trailing twelve months, particularly if you are using it as a base 2012 earnings number to which you are going to add the earnings from the latest project???
Cash per share is nice, but they owe almost that much in a term note payable, so net cash is not that great.
The stock still seems like a cheap option on the possibility they can make something out of their other business, but it seems to me that your numbers are overly optimistic unless I am missing something.
Thanks,
MC |
