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Gold/Mining/Energy : Napier International Technologies Inc. (T.NIR) -- Ignore unavailable to you. Want to Upgrade?

To: PeFiSt who wrote (2323)	7/4/1999 11:19:00 PM
From: AL	Read Replies (1) \| Respond to of 2444

PeFiSt. You are using the old math. It doesn't work any more. 1) revenues of 12 million are not 12 million in profit. 2) Napier currently has a gross profit margin of about 41% which translates into 4,920,000 in profit. Divided by 28 m shares = .17c/share profit. However not all is profit. They have fixed costs associated with doing business. Last year I calculated this to be ( I'm doing this by memory ) about 1.3 million. So the 4.9 mill minus the 1.3 = 3,620,000 or .12c/share profit. Times a p/e of 15 = 1.93. ( a last minute thought, my calculations of fixed costs do not include bio-wash fixed costs, which I have no idea what they are. The revenues of 12 million talked about do include revenue from bio-wash. This makes the stock worth less ) I do agree that this company is worth more, but that is because I expect them to have annual sales of much more than 12 million. Al