Top Five Fast-Growth Stocks

Axsys Technologies (AXYS Quote - Cramer on AXYS - Stock Picks) designs and manufactures precision optical solutions (such as thermal imaging cameras, stabilized camera systems, motion control systems, and scanning systems) for use by the U.S. government and high performance commercial markets in aerospace, defense, and other applications. Axsys also distributes precision ball bearings used in a variety of industrial and commercial applications.

Our buy rating for Axsys has not changed since November 2003. For the first quarter of fiscal 2008, total revenue increased 59% year over year, driven by strong organic growth across the company's segments. The acquisition of the Gyrostabilized Gimbal Business also helped increase revenue. Strong sales and accretion from the acquisition helped increase earnings by 72% to $5.1 million, or 45 cents a share, from $3 million, or 27 a share, a year ago. Also of note, the company's backlog increased to a record $158 million, representing a 13% increase over last year. This growth was mainly attributed to a large number of infrared orders received for the Common Remotely Operated Weapon System (CROWS) and Thermal Weapons Sight (TWS) programs.

Looking ahead to the second quarter of fiscal 2008, management raised its sales forecast to the range of $224 million to $228 million from its previous guidance of $208 million to $212 million. Earnings per share are forecasted in the range of $1.88 to $1.92. However, any significant reductions or delays in purchases of the company's products by the U.S. government could have adverse effects on Axsys' financial performance, as the company derives a significant portion of its revenue from this source.

Our quantitative rating is based on a variety of historical fundamental and pricing data and represents our opinion of a stock's risk-adjusted performance relative to other stocks.

However, the rating does not incorporate all of the factors that can alter a stock's performance. For example, it doesn't always factor in recent corporate or industry events that could affect the stock price, nor does it include recent technology developments and competitive dynamics that may affect the company.

For those reasons, we believe that a rating alone cannot tell the whole story and that it should be part of an investor's overall research.

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