They're taking away slices of the pie with the number of outstanding slices being 104 million. They're going to buy back approximately 10% of those slices, so their earnings per share will be divided into 90 million slices of the pie and not 100 million slices which in theory, will increase the amount of earnings per slice.
And when you hold as many shares as the founders (50%), with further contract wins and profit margins of around 70% - that equates to even faster growing earnings per share.
That's good business.
Ann: Update - Notification of buy-back - PME, page-6
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$179.02 |
Change
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Mkt cap ! $18.70B | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
|---|---|---|
| 2 | 121 | $179.00 |
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| Price($) | Vol. | No. |
|---|---|---|
| $179.25 | 275 | 1 |
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