Ann: Appendix 4C - quarterly, page-119

Yes Mak, $A50m is way too conservative. Being the eternal optimist I would go for revenue of 100m for the year :

Last year the revenue figure was $A13.2mill. Let's assume they can get this to $A100m next year.
The company has stated they are confident of a 40% gross margin, which is revenue minus cost of goods (including direct labour costs etc).
So $35m (conservative) profit before non direct costs.
Allow say $2.5m a quarter, that's $10m.
We could therefore conceivably see $25m in earnings next year.
For a fast growing company a PE of 25 would be minimum in my view, so that would be a $625mill MC giving towards
$2.00 a share.