One of the many strategies I apply to gather intelligence on investment prospects is the dissection of company conference calls.

Even though these calls are considered public information, many investors just don't have the time to look beyond a press release. I particularly like the instances when companies conduct interim conference calls between earnings releases, such as investor presentations that may offer insight not found anywhere else.

This is a time to take advantage of newly acquired information while investors often become increasingly complacent and prefer to wait for earnings press releases to monitor company progress. I then look forward to selling my shares to less savvy investors at higher prices when the company reinforces bullish information in its ensuing earnings report.

Subsequent to my initial mention of CPI Aerostructures ( CVU) on Feb. 5, 2010, I was eager to listen to an investor presentation replay that took place on Feb. 11. I hoped to attain a better grasp on my assumption that CVU, a structural aircarft parts provider for prime defense contractors, would report a stellar 2009 fourth quarter as well as gain some insights into the growth outlook heading into 2010.

I have been on hundreds of conference calls, and I can say that this was one of the most bullish I have experienced. So much so, I added to my position. CEO Ed Fred was articulate and implied several times that his aggressive guidance for 2009, implying earnings of 63 cents per share to 69 cents per share and favorable long-term growth expectations, were still intact.

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