I believe the drop was a knee-jerk reaction to the earnings headline that APAC earned $.12 for the quarter but expectations were for $.13. Of course, that is a big distortion as the 'pool of analysts' was just "1".

The conference call itself was extremely positive and further reinforced the strong points they made in their press release. Earnings for the quarter 'tripled' over the prior year quarter and the revenue increase seemed to positively surprise the analysts on the call.

They said the recent dilution (4M shares) only amounts to about a penny a share, guidance was confirmed again and new deals/programs are coming online. I even sensed with all the good news they are still holding back on more good stuff in the pipeline. They also talked about a strong cashflow and the ability to lease up to another 500 seats 'near shore' without increasing fixed costs for growing demand.

What is not to like??? If they hit $.65 EPS as projected X 12 times earnings = $7.80 for this year.....and forward earnings sounds like it could be even stronger.

Go listen to the conference call replay! Good luck.