NEW YORK ( TheStreet) -- Deep-value situations sometimes take a great deal of time and patience to play out. In this fast-paced, up-to-the-minute information-driven market, many investors don't have that level of patience, especially when it comes to companies with little or no analyst or financial media coverage. That's often where there are great opportunities, but it is difficult to get relevant information.Tecumseh ( TECUA, TECUB), a poster child for patience, is a company you've probably never heard of. If you have, it's probably due to the company's small engine business, which it sold back in 2007. Today, the company is primarily a manufacturer of hermetically sealed compressors used in air conditioners and freezers for both residential and commercial applications. This is a business that suffered during the last recession as demand fell. Revenue has been on a downward path for several years, in part due to the sale of businesses, but also due to poor economic conditions. Shares fell to about $3 in May 2012, following yet another quarterly loss, but have been on a tear ever since; they are trading at a two year-plus high of $10.55. Last month, the company, which generally been tight-lipped at least as long as I've been a shareholder, held an investor update call, which was a long time coming. TECUA data by YCharts
Of course, a decent balance sheet will carry you only so far, and Tecumseh needs to start generating a positive bottom line, which it has done just once in the past eight quarters, and that particular quarterly profit was due to one-time non-operating gains. Cost-cutting should help, as should a recovering global economy. In 2012, Tecumseh generated just 22 percent of revenue from North America. The bulk of company revenue, 54%, was from South America (30%), and Europe (24%). Follow @JonMHellerCFA This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.