Thanks for posting this OOG!

So, it looks like they are projecting a profit of $112 million in 2015 (it was not clear to me if they meant 2014), assuming that they used a 400 million share count.

400,000,000 * 0.28 = 112,000,000.

Putting a price to earning multiple of 54 to that income, values the equity at that time at $6.048 billion.

It is not the method that I would have used to value the company because of the uncertainty of the speed of product acceptance. I would rather model a few years of earning, up to a point where the earning become more stable, then use a lower p/e ratio. Or better yet, discount all estimated future earnings.