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No. of Recommendations: 8
Pretty nice looking. The 03-04 decline in defensive profits is due to a more than doubling in shares outstanding due to the IPO (note enterprising still went up, however!). I had to make some 2005 estimates since the 20-f won't be filed for a few more weeks, but there're really minor things like advertising expense and operating leases.

http://www.wrightmgt.com/ELOS_IETC.pdf

Cameron
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