Its a buy, page-9

Nearly half of the profits you cite were one-time only. $123.7M of the $256.9m profits were from capitalizing future tax benefits, largely from the tax losses acquired with Deflector. Without that one-time event, earnings would have been $133M, or P/E 12.5.

I'm bullish - don't get me wrong - and expect SLR's earnings to grow, but the P/E 6 was due to one-time event.