Jun 20
Scott & Thiago both told me, independently, a while back about a company soon to IPO called Energy Recovery.
Less than 48 hours ago, they filed a bunch of paperwork with the SEC.
I’ve spent about 30 minutes looking at the numbers so far. $8, the midpoint of their expected range, implies 57x 2007 ep, and Q1 ‘08 came in with lower eps than Q1 ‘07 by a penny. Of course, sales were higher, and we are talking small cap here, to be priced between $250M and $500M, likely.
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