significant profit upgrade. huge guidance!, page-2

I wanted to take a stab at estimating the 2011 EPS so I did the following. I estimated an annual Interest, Depreciation and Amortization cost of $2M based on the half-year financial report ending 31-Dec-2009.

I took the midpoint of the NTC estimate in their latest guidance:

$3M + $7M = $10M Full 2011 year EBITDA
$10M - $2M = $8M
$8M less tax (at 30%) = $5.6M
$5.6M / 105Million shares = EPS of 5.3 cents

Depending on the historical Price/Earnings ratio of NTC I would say the share price could float between $0.25 and $0.50. Nothing really exciting, I suppose short of any surprises, shareholders will have to wait for 2012 for some major upside.

All the above are rough estimates and I am happy to be corrected.