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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Jurgis Bekepuris who wrote (30933)	5/13/2008 9:09:39 PM
From: gcrispin	Respond to of 78633

A couple of points, Jurgis. Income from operations this quarter was 1.7 million vs. 500 thousand in 07. Considering the events in Pakistan and the international markets in the first quarter of the calendar year, these are very good numbers. The currency translation in dollars cost the company 900+ hundred thousand this quarter and four hundred thousand+ last quarter. Their ownership in Netsol PK is still sixty percent or seventy million dollars which translates into the enterprise value of the entire company. You are still getting their European and American operations for free. Netsol is the largest IT company in Pakistan. I believe the value compared to their growth rate is still not recognized in the market. I'm not buying anymore at these levels, but I'm not selling any either as I already own a large position.