Mostly old news - meh earnings ($0.03 / share), but they were rather due for a quarter that was light on checks from Uncle Sam - this is the stuff you can see in the quarterly income statements since they started. We just replaced a 0.34 with a 0.03, so P/E will be 2% higher than the PPS until the next earnings. Next quarter, we get rid of another meh (0.05) and replace it with what's behind door #Q4.

They did reaffirm annual guidance, meaning in Q4, the company can net -8M and they still keep their 20M FY promise (think smart acquisition for a "lose money"="good" scenario). Should be a lot higher (6 to 12 cents a share is my guess, FWIW), need not be boffo. Q4 Revenue needs to be in the 51-65M range to live up to guidance. A few more big paychecks than in Q3 is about all that should take.

The CEO's enthusiasm for their 2010 prospects was abundant but not overdone, IMHO. The cool new news (to me, anyway) was that BARDA came to EBS with an RFP for BioThrax (above and beyond the current contract with Defense). If the feds are serious, that's a nice development. There was also the usual stuff about opportunities abroad, the in-dev product lines, that pain-in-the-ass PSC lawsuit thing, and ready-for-growth plant expansions/purchases. No surprises, really. We're all just waiting for the rPA BARDA announcement, which the feds still say they expect to make by year's end for north of 500M.

Speaking of which, anybody catch any of that ask-chasing on PIP today? Went for coffee and my 3.55 bid got left in the dust!