from 7 cents to 17 cents in 12 months, page-3

I agree - the buyback is holding up the price but at the same time EPS is positive - was 0.8cps for 1st half year - if 2nd half same then we are looking at 1.5cps approx. At current price of 20c - company is trading on an approx. p/e of 13 - about average.

It will be interesting to see what happens after the buyback is complete - if earnings keep growing strongly then price should stay around current levelsor grow - the other thing is provided CEO Bill Mobbs does not sell any of his own stock into the buyback he will have 27% of the company. At that point there would be plenty of incentive for him to commence a dividend payment - assuming a dividend payout ratio of 50% and 2cps earnings in FY13- we may be looking at 1cps dividend in FY13 which is a respectable dividend yield.

The company has recently become debt-free so that is another feather in the cap of management's recent efforts.