STOCK PICKS: Top 5 Fast-Growth, Aug. 4

Each business day, TheStreet.com Ratings compiles a list of the top five stocks in five categories -- fast-growth, all-around value, large-cap, mid-cap and small-cap -- and publishes these lists in the Ratings section of our Web site.

This list is based on data from the close of the previous trading session. Today, fast-growth stocks are in the spotlight. These are stocks of companies that are projected to increase revenue and profit by at least 12% in the coming year and rank near the top all stocks rated by our proprietary quantitative model, which looks at over 60 factors.

In addition, the stocks must be followed by at least one financial analyst who posts estimates on the Institutional Brokers' Estimate System. Please note that definitions of revenue vary by industry, and this screen does not make adjustments for acquisitions, which can materially affect posted results. Likewise, earnings-per-share growth may be affected by accounting charges, share repurchases and other one-time items.

Note that no provision is made for off-balance-sheet assets such as unrealized appreciation/depreciation of investments, market value of real estate or contingent liabilities that might affect book value. This could be material for some companies with large underfunded pension plans.

Ametek(AME Quote) manufactures electronic instruments and electromechanical devices. The company has operations throughout the U.S. and in more than 30 other countries.

Ametek has been rated a buy since November 2002. The company's strengths include its consistent revenue, earnings per share (EPS) and net income growth, as well as its solid stock performance. In addition, Ametek's minimal exposure to the housing and automobile markets could insulate it from the sluggish U.S. economy. For the second quarter of fiscal 2008, the company reported a 13.5% increase year over year in earnings, led by top-line growth and operational improvements. Continuing its pattern of EPS growth over the past two years, the company reported a 13% EPS improvement in the second quarter. Net income grew to $65.84 million from $58.01 million a year ago. Furthermore, operating cash flow increased 39.0% to $77 million. During the second quarter, Ametek announced the acquisition of Vision Research, a privately held manufacturer of high-speed digital imaging systems used for motion capture and analysis in numerous test and measurement applications. Additionally, the company paid a quarterly dividend of 6 cents per share.