OK, quick back of the envelope stuff, but the performance for...

OK, quick back of the envelope stuff, but the performance for this year has turned out to be marginally better than my forecast. Revenue is a little lighter than my forecasts but in particular they seem to have kept their expenses under control.

Cash flow positive for the last two quarters and one can assume that this will be the case hereafter.

I am now forecasting about 1.6c eps for next year (FY17) which puts the stock on a forward p/e of about 18.

Looking further out - well, tbh this is really speculative - but based on current growth trends I can easily see eps of 2.6c in FY18 which makes the p/e about 11.

And you would think that a decent contract win could create a step change in these forecasts without too much trouble.

DYOR of course.