Top Five Fast-Growth Stocks

Ametek has been rated a buy since November 2002. The company's strengths include its consistent revenue, earnings per share and net income growth, as well as a 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 first quarter of 2008, the company reported a 30% year-over-year increase in earnings, led by operational improvements and revenue growth of 21%. Continuing its pattern of EPS growth over the past two years, the company again improved EPS to 62 cents in the most recent quarter from 48 cents in the first quarter of 2007. Net income grew to $66.4 million from $50.9 million a year ago. Furthermore, operating cash flow increased 39% to $77 million. Additionally, the company recently paid a quarterly dividend of 6 cents a share on March 31.

Going forward, Ametek estimates revenue for the full year 2008 to increase in the high teens on a percentage basis, while earnings are estimated to be in the range of $2.47 to $2.52 a share. Management also expects earnings for the second quarter to be approximately 61 cents to 63 cents a share, an increase of 13% to 17% over last year's second-quarter results. However, these results could be negatively affected should the company fail to successfully integrate its recent acquisitions. Other risks include the price and availability of raw materials and changes in the competitive environment.

Diamond Offshore DO engages in the contract drilling of oil and gas wells. The company's fleet of 30 submersibles enables it to offer a range of services in various markets worldwide, including the deep water, harsh environment, and conventional semisubmersible markets. Diamond also owns 13 jack-up rigs, which are mobile, self-elevating drilling platforms equipped with legs that are lowered to the ocean floor until a foundation can be built to support the platform. Finally, Diamond also has one drillship, the Ocean Clipper, located off the shore Brazil.