If Customers achieves revenue of $93 million in current FY;& ATM...

If Customers achieves revenue of $93 million in current FY;
& ATM Network Expense remains at a constant Revenue / ATM Expense ratio of 1.5, then ATM Network Expense will be around $62 million;
Employee Benefits Expense = $8 million;
Restructuring & migration costs: $1 million;
Other Expenses = $4 million;
Depr. & Amort. Expense = $9 million;
Financing Costs = $4 million;
Then
Profit before income tax expense = $5 million for Financial Year 2008.

Upside:
* SPS’ ability to reduce ATM Network Expenses; &
* Direct charging, boosting revenues.

Downside:
* Depreciation expense higher than my estimate.