AASTRA TECHNOLOGIES $18.60 (Toronto symbol AAH; TSINetwork Rating: Speculative) (905- 760-4200; www.aastra.com; Shares outstanding: 11.9 million; Market cap: $221.3 million; Dividend yield: 4.3%) reported 9.5% lower sales in the three months ended March 31, 2012, to $147.3 million from $162.7 million a year earlier. Sales declined in all regions, including Western Europe, where Aastra gets the majority of its revenue. Even so, its earnings rose sharply, to $2 million, or $0.14 a share, from $184,000, or $0.01 a share.
Aastra needs a sustained economic recovery in Europe to raise its sales and further push up its earnings. Still, the stock trades at just 10.6 times the $1.76 a share that the company should earn in 2012. The shares yield 4.3%.
Aastra is a buy for aggressive investors.