quarterly out, page-20

The question of what CST is worth today is a function entirely of:
a) how fast sales are going to grow; and
b) how much their marketshare will drop off when their patent rights expire.

These are the useful questions that have been debated here and elsewhere (with too much of a focus on a, and not enough on b) for many years.

These questions should still be the focus today.

Any speculation on whether or not this quarter's sales will be repeated next quarter is a waste of valuable pixel-space on the screen of my laptop.

There is simply no question that CST is winning customers over one by one, and that once a customer has converted to QFT they are not going to go back. Therefore, with the possibility of some slight variation for seasonal factors / larger than usual orders, CST's SALES WILL GROW EVERY QUARTER FOR MANY YEARS TO COME.

I don't have a strong view on whether CST is underpriced - mostly because I need to refresh my understanding on question (b) from my two questions above.

I know that nothing that I have said above is new to any of the intelligent voices on this thread - indeed, it is a statement of the obvious.

However, if I can play some small part in ensuring that people do not not jump at shadows re the possibility of sales going backwards next quarter then I will have done the thread a service.