Nope. I am also an ESS holder, have been for quite some time. In...

Nope. I am also an ESS holder, have been for quite some time. In my opinion still good value. Why? Their business operates something like a Gillette model where they sell durables that require their consumables. Given the increase in durables, or capital equipment over the past couple of years it can be expected that consumables revenue will remain bouyant. Add to the that the recent big win in the automation field (which has meant 100% profit growth, and my guess an increased dividend (gotta love that free cash flow!) and progress in Russia and South American markets.... PLUS the additional full year earnings starting to kick in from the STACE acquisition, and fundmentally you have a very cheap business!

Kindest Regards,
fallen