Vf,
as of today (price at close, 20.5c) the MC (fully diluted) is 44.4million. Lower profit range of S6.2 (1:1.16 AUD) is 5.3million as you say, still well below PE10 (~8.3 by my reckoning).
Even so, as 3500 says its going to be an extremely exciting year on this little known stock.
Not to mention if US had of stayed weaker profit guidance would of been:
6.2+2.1+2.0(which we still get in 2014) = S10.3 or A$8.8m (PE5).
We will still get 2million of this in 2014, plus with the US weaker, manufactured exports to the US (specifically precision goods) will also give more margin (thus the purpose of the hedge).
I have a feeling HY2014 will eclipse FY2013.
Ann: Profit Warning 2013 , page-9
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