By: johnmahony
20 Nov 2003, 08:12 AM EST
Msg. 4982 of 4982
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FINANCIAL FORECASTS AND PROJECTIONS
Providential Holdings’ fiscal year ends June 30th . The Company has prepared an extensive spreadsheet forecasting potential revenues and expenses for all of their various subsidiaries and divisions. On a pro-forma basis, at this time a realistic projection of gross revenues is around $159 million for FY ending June 30, 2004 and NET INCOME of approximately $26 million. The spreadsheet forecast assumes that the Chu Lai project will not contribute any revenue to the pro-forma during this period. Projections are based solely and conservatively on existing and likely business. Furthermore, we have added 15 million shares (currently in Treasury) to the current outstanding shares to arrive at a “total outstanding shares” figure of 86.7 million. We feel that these Treasury shares will be optioned by key employees prior to FY ending June, 2004. Using this higher share figure of 86.7 million as related to projected net income of approximately $26 million, we arrive at NET INCOME figure (EPS) of almost 30 cents per share. Applying a reasonable PE multiple of 20 X earnings, we get a share price projection of around $6.00 per share.
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