Eurocontrol Technics Ord EUCTF

EUO history of under delivering creating an opportunity?

[zenvesting]

This company's long history ov over promising and under delivering has obviously caused the market to view their last quarter's results with some prejudice, but are those results a sign that the time has finally arrived for EUO to begin delivering consistant results?  

At these prices, I was willing to bet yes, this company seams to have begun delivering good results on the back of their recurring chemical sales.  Looking at last quarter's results, if you back out the $200K grant from the Isreali government, they still earned nearly $350k in the quarter. If you take that $0.012 and annualize it assuming no growth, that $350k in quarterly earnings results in $0.012 annual EPS, giving the company a P/E of 12 going forward.  If you take the 21% sales growth in US dollars, they have a PEG of 0.6 @ $0.15.

I think there's value here at these prices and I think there's a good chance a patient investor taking a long-term position here might get to see some of the long-promised "big national contracts" fuinally get finalized in the coming year or two.  

I am here for the long-term.