Q1 2013 earnings are out:

- rev up 6%
- gross margin 48% vs. 40% last year (mostly due to product mix)
- pre-tax net income up 35%
- net income up 14% (the company didn't pay much tax last year)
- fully diluted eps $.054 vs. $.048 last year
- cash and marketable securities = $.51 per fd share
- working capital = $.63 per fd share
- strong backlog should mean steady 2013 net income
- current p/e based on $1.16 share price and $.226 fd ttm eps = 5.1
- cash adjusted p/e = 2.9