Read the news again and looks like some good news coming in late July re timing of zircaix and eu approval for illuccix
Market seems to be focussed on the reduction in growth rate of sales from 18 per cent to 8 per cent. I don’t know about you but 8 per cent on a revenue base of in excess of 100m USD looks pretty good to me.
I have also crunched the numbers. If you review the financial performance in the first quarter on 17th May it was revealed the company had a profit of 28m for the quarter. I am only assuming with an increase in revenue of 8pc, plenty of this would fall to the bottom line and increase profit in the second quarter. If you average this out over 4 quarters with expected growth in revenue we might be sitting at a profit of 140-150m at year end
Based on current market cap this puts this company on a pe of mid 40s.
With the current revenue projections based on a constantly developing suite of products I would pay a lot lot more than 40 times current earnings
Read the news again and looks like some good news coming in late...
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