Somebody also mentioned about this tech stock to me recently, so...

Somebody also mentioned about this tech stock to me recently, so I had a look. Your friend may be over-zealous in his comment about doubling profit but suffice to say that he was on the right track.

Legend Corporation made an ASX announcement two days ago to confirm that they are on track to achieve a net profit of $4.3m this financial year. Last year's net profit was $2.6m, so profit increase will be about 65%. The announcement also mentioned that their Asian offices have exceeded sales targets since establishment.

In the company profile, it was mentioned that Legend Corporation supplies to "global clients including Dell, Hewlett Packard, Acer and NEC... through to major merchandising chains such as Harvey Norman, Dick Smith Electronics, Kmart and Myer." Pretty impressive.

PE based on the forecasted net profit is only 9 times. Cheap for a stock that is expected to grow so strongly.