nlx back on track???, page-3

Is currently trading at 15-16 x 2005 forecast eps - refer to press release.

Debt reduction schedule well behine target - was supposed to be $135 mio by last Dec - now $150 by this June.

Unfortunately for managment NLX has a huge (carried fwd) credibility problem with investors, they operate in a mature/boring market sector and are cash strapped, thereby severely limiting growth prospects/risk taking ability.

NLX is still at least 12-18 months away from even looking half way decent.

Current rally will stall soon and it will drift back.

Beware of the market impact of the maturing notes - there will be a fair amount of shuffling going on.