RE:RE:RE:RE:Buying opportunityImo the 2013 financial results were fantastic. Grew cash flow from operating activities by almost 50%, not sure if you can ask much more from a tech company. Strong, steady growth.
You're right infirstmoney, they have about $40 million of positive working capital. At today's share price that puts them at about a $280 mm enterprise value, i.e. we are trading about 19x trailing earnings. Looking forward we are probably closer to 16-17x earnings. For a company that has delivered yoy growth of 30-50% for the past 3 years, that's a pretty cheap multiple imo, especially for a SaaS company, for which some comparables trade as high as 30x cash flow.
I formerly worked as an auditor and I can tell you right now the need for their services or technology is not going away.