DMX: CEO highlights co. offering Chinese cable operators software needed to migrate from analogue to digital, aims to gain 18% of the est US$2.5b software and hardware slice of the digital media TV cable mkt by 2015. Expects subscribers signing up with cable TV operators, who do business with DMX to increase 7x from 4m to 30m within nxt 5 yrs and revenue to rise by +20% from US$190.4m last yr….
We note that stock is not cheap, trading at est FY10 P/E of 35x. Valuation is more reasonable on P/B basis at 1x
Further note that DMX ADRs has seen minmial interests to date since their debut last wk
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