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Stan Majcher: At Hotchkis & Wiley, we believe in valuing businesses based on normal earnings, not what they earn at the boom or the bust, but what we think they can earn in a normal environment over time.
They will be able to earn almost four times their normal earnings if they meet certain targets.
Holiday pay must now reflect the worker's actual normal earnings rather than just basic salary.
It initially refused to compensate fishermen who were unable to produce written proof of their normal earnings.
But he said that the turbulence of July and August had subsided by September and that the company expected to have "normal earnings" in the fourth quarter.
A. Theoretically, you should pay more on trough earnings than on peak or normal earnings, but valuations in technology stocks are excessive in many cases.
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Also, when applying earnings yield, make sure you are using normalized earnings (rather than overstated or super-normal earnings)?
Yet today, instead of trading at six-times normal current earnings, the company is trading at 5.6-times temporarily depressed earnings and at only three-times estimates for 2006, based on oil at $52 per barrel.
He gets this figure by combining normal real earnings gains, a meager dividend yield and a steady unraveling of P/E ratios.
The amount of funds that can be made available under the facility to a member country is the smaller of the calculated excess cereal import costs, after adjustment where appropriate for higher than normal export earnings, or the member country's access limit under the facility.
Participating non-profits hire Duke students' and pay each student through the non-profits normal pay routine, with the understanding that work-study earnings are tax exempt.
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