"...China Sky One has predicted it will book revenues of $82 million this year. The single analyst who follows the company expects its 2009 top line to equal $131 million in 2009, a 60% jump year-over-year. The company’s net income typically runs slightly above 25%, proving that it isn’t chasing market share at the expense of the bottom line. It had $42.5 million in cash at the end of Q2, and its return on equity is an astonishing 46%. These are admirable numbers.

But investors don’t seem to be paying attention. After hitting a high of $17.10 early in the summer, China Sky One’s shares have slipped down to $12.61. That gives the company a P/E ratio of 8.6 for the past 12 months, and a forward P/E number of 5 for 2009, if the company hits its expected targets."