ADV recently reported a bottom line interim profit of about $800000 for the 6 months to 31st December 2001, which is an improvement of well over 100% on the same time last year when most tech New Zealand tech companies are making losses - it certainly looks as if the recovery is under way for ADV. It's shareholder's equity is about $12 million so it looks like it will produce a good return on shareholders' equity for the full year. Earnings per share of 3 cents is realistic for the full year, which would give a price earnings ratio of about 13 at its current share price of around 40 cents. Also ADV has written off all its goodwill. Surely its shares are looking cheap at the moment? Does anyone have any thoughts about ADV? I think its share price has been hammered too much.
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