Thats nonsense OMEC. Say EBIT is $7.0m. Assuming net debt of $28m and an interest rate of 7%- thats annual interest of $2.0m. So an EBT of $5.0m. After 30% tax, thats $3.5m
On the basis of the current 429.8m shares being on issue (weighted average for the year likely to be lower)- thats an FY 10 eps of 0.8 cents, basically earned between Feb 2010 and June 2010.
If we assume the EBIT run rate over the last 5 months is indicative of what they'll do in the next 12 months, thats an annual EBIT of $16.8m- less annual interest of $2.0m, which is $14.8m. After 30% tax thats $10.4m profit for an eps of 2.4 cents.
At current price of 21 cents- implies a p/e of 8.8.
NMS Price at posting:
8.0¢ Sentiment: LT Buy Disclosure: Held
