If it hasn't already been mentioned, keep in mind that the P/E ratio can be calculated a number of different ways.

Most of the time, the P/E is calculated using EPS from the last four quarters. This is also known as the trailing P/E or TTM (Trailing Twelve Months). However, occasionally the EPS figure comes from estimated earnings expected over the next four quarters. Sometime this estimate is as simple as multiplying the most recent quarter's earnings times 4 - I call this a P/E extrapolation. 

If PTSC were to earn say $60 million in a quarter as a result of a settlement, the two calcualtions would result in P/Es of ~

1) TTM (given the poor earnings in past 3 Qs) = 90

2) P/E extrapolation (4 x $60M settlement) = 25

For a fast growing company (going from 2 cents to 15 cents EPS in 1 quarter could be considered fast growing especially if the next quarter was even better). The P/E which dominates the press would be TTM (90). Fortunately, large sophisticated investors will very likely be looking at both and IMO they both will look good. This is why my estimate for PPS is $15 in the near term (after only (cautious) $60M net to PTSC in settlement):

($60M x 4) / (391M shares) = 61 cents EPS (extrapolated)

A PPS of $15 would result in an extrapolated P/E of $15/.61 = 25

For any company in PTSC's financial position that P/E looks very good to me.