RE: RE: RE: RE: RE: Keeping a lid on itRecently PSP has been facing stiffer and stiffer competition an are losing marketshare. They acquired APS almost three years ago in an attempt to bolster their top line and provide more stable revenues. APS had $11mm in revenues and was purchased for $5mm. This was prior to valuations of companies going in the toilet, and when PSP was trading above $1.00.
In 2007, APS had revenues of $11mm and was acquired by PSP who was $39mm. Now, only 3 years later, they will be lucky to see $30mm top line and are looking like they'll lose money on the bottom line when you peel out the 'smoke and mirrors' of future income tax recovery. Not a good trend.
This company has $8.1mm in liabilities, and maybe $10mm in tangible assets (and that's stretching it).
I put the price at 25 cents max.
VeeP