Untitled - ROTH Capital Partners

Transcription

Tuesday, August 31, 2010
ALOHA!
We are pleased to welcome all of you to the 2010 ROTH Hawaii Conference and are excited to
host this event at the beautiful Grand Wailea Resort in Maui.
ROTH's 2010 Hawaii Conference will feature three days of hour-long group meetings with
corporate-level executives from over 50 U.S. and Chinese companies. These companies were
selected by ROTH’s award-winning research analysts and our best institutional clients,
highlighting compelling investment opportunities across the US and China from a variety of
sectors, including Media and Internet, Software, CleanTech, Industrials, Healthcare, Business
Services, Energy and Infrastructure. Group meetings will take place in the Humu restaurant on
Wednesday – Friday, Sep 1-3, 2010 from 11:00 am – 3:00 pm
We seek to provide our institutional investors with differentiated perspectives and value-added
insights to help guide their investment process and keep them one step ahead and we hope the
conference serves this purpose.
China's rise as a global economic power has been nothing short of spectacular, and its economy
has been a focal point for US and international investors alike. We are pleased to offer a series
of topical panels designed by ROTH’s China Research Team focused on addressing macroeconomic and sector-level topics that we believe are central to global investment analysis. The
panels will feature economists, analysts, and corporate-level executives that will provide an
insider's view of the outlook for the evolution of China's vibrant economy, with a focus on
identifying compelling investment themes. Designated panels include: China Macro-economic
Panel; China Consumer Panel; China Automotive Panel; China Technology Panel; China
Social Infrastructure Panel; China Infrastructure Panel and China Energy Panel. The
panels will take place in the Haleakala Ballrooms 2 & 3 on Wednesday - Friday, Sep 1-3, 2010
from 8:00 am - 11:00 am. There will also be a China due diligence panel on Thursday afternoon
from 3:00 - 5:00 pm. The panel topics will provide insight into the typical due diligence activities
that are conducted by legal firms, auditors, bankers, and analysts and share a variety of case
studies.
Additionally, the conference will feature a series of Chinese-language symposia specially
intended for management teams of U.S. listed Chinese companies moderated by the conference
sponsors. Topics include CFO Essentials- Updates and Practical Implications for CFOs of
US Listed Chinese Companies; Widening Your Investor Base - Dual Listings and the
Global Investor Marketplace and Lessons in Communication - Bridging the
Communication Gap Between China and the West. These symposia will take place in the
Haleakala Ballroom 3 on Wednesday - Thursday, Sep 1-2, 2010 from 2:30 pm - 6:00 pm. and
Friday, Sep 3, 2010 from 1:30 pm - 3:00 pm.
Thank you to our sponsors who have generously supported this event: Loeb & Loeb; DLA Piper;
Bernstein & Pinchuk, LLP; Bullivant Houser Bailey PC; Friedman LLP; Frazer Frost; Pillsbury
Winthrop Shaw Pittman; Sichenzia Ross Friedman Ference LLP; SingerLewak; The Piacente
Group; Business Wire; Corporate Stock Transfer; Goodwin Procter, MaloneBailey LLP and
Nixon Peabody LLP.
In planning this event, we aimed at providing you with not only some good potential additions to
your portfolio but also to give you and your families a chance to experience Maui at its best. In
addition to the formal three-days of meetings and panels, ROTH will host receptions, dinners
and other Hawaiian-style activities. We hope to make your experience a memorable one and our
accompanying ROTH staff will do everything possible to make that the case.
We truly look forward to your participation.
Sincerely,
Byron Roth
Chairman & CEO
ROTH Capital Partners, LLC
Isabel Mattson-Pain
Director of Marketing
Mark Tobin
Co-Director of Research
This material is part of the 2010 ROTH Hawaii Conference book
Jeff Martin, CFA
Welcome
Welcome to the 2010 ROTH Hawaii Conference at the Grand Wailea, Maui, Hawaii.
Please take a moment to read the following important information regarding the
conference.
Registration Desk
For the duration of the conference, there will be a ROTH Registration/Information desk
located in the IIima foyer area where our bilingual (English and Mandarin) staff will be
available to answer any questions you may have. Please pick up your badge and your
conference materials upon check-in.
Name Badges
Name badges must be worn at all meetings and social events to identify conference
participants. Spouses and family members are welcome to attend social events and may
pick up a guest badge at the ROTH Registration Desk. Badges are non-transferable.
Security and badge control will be strictly enforced.
Speaker Ready Area/ IT Support
Upon check-in, we recommend that participating companies reconfirm the time and
location of their panel presentation, group meeting schedule, along with details regarding
their PowerPoint presentation. The speaker ready area is located in the IIima room next to
the conference registration desk and will be manned by a technician from Tuesday,
August 31st at 3:00 pm throughout the conference.
Group Meetings
Pre-arranged group meetings have been set by request from investors with participating
company executives for Wednesday, Thursday and Friday from 11:00 am – 3:00 pm in the
Humu restaurant. Please see the meeting desk located in the llima foyer for exact times
and locations of these meetings. These schedules are subject to change. Please allow
yourself enough time to check-in with the meeting desk to receive your latest schedule.
ROTH Activity Desk
Located in the IIima foyer is a designated bi-lingual ROTH concierge to assist you with all
of your inquiries and requests regarding this conference. Please stop by to arrange your
adventure activities, book spa appointments, organize car service etc.
Hotel Check-out
The Hotel check-in time is 4:00 pm and check-out is 12:00 pm. Please make sure to check
out by 12:00 pm. The Hotel will be happy to store your luggage for the remainder of the
day or provide late check-out based on availability at an additional fee.
Airport Transportation
ROTH is happy to help arrange airport transfers. Please see the activities desk in the IIima
foyer for arrangements.
Tuesday, August 31, 2010
3:00 pm – 6:00 pm
Arrivals, welcome and Pre-registration
IIima Foyer
6:00 pm – 8:00 pm
Welcome Cocktail Reception
Grand Dining Room
Casual attire suggested
Family fun event
Wednesday, September 1, 2010
6:15 am – 7:15 am
Sunrise Beach Yoga
Wailea Beach
Meet instructor at Chapel Lawn
Mats provided
7:00 am – 3:00 pm
Conference Registration
Ilima Foyer
7:00 am – 8:00 am
Morning Coffee
Haleakala Foyer
8:00 am – 9:15 am
China Macro Panel
Haleakala 2 and 3
9:15 am – 9:30 am
Coffee and Tea Break
Haleakala Foyer
9:30 am – 10:45 am
China Consumer Panel
Haleakala 2 and 3
11:00 am – 3:00 pm
Group Meetings
Humu Restaurant
12:00 pm – 1:30 pm
Lunch Buffet
Humu Restaurant
2:30 pm – 4:00 pm
CFO Essentials
Haleakala 3
Updates and Practical Implications for CFOs of
US- listed Chinese companies
4:00 pm – 6:00 pm
Lessons in Communication
Haleakala 3
3:30 pm – 5:30 pm
Pool Volleyball Tournament
Activity Pool
Family fun event
7:00 pm – 10:00 pm
East Meets West Dinner Reception
Family fun event
Molokini Gardens
Thursday, September 2, 2010
6:15 am – 7:15 am
Sunrise Tai Chi
Wailea Beach
7:00 am – 3:00 pm
Ilima Foyer
7:00 am – 8:00 am
Morning Coffee
Haleakala Foyer
8:00 am – 8:55 am
China Automotive Panel
Haleakala 2 and 3
9:00 am – 9:55 am
China Technology Panel
Haleakala 2 and 3
9:55 am – 10:10 am
Coffee and Tea Break
Haleakala Foyer
10:00 am – 10:55 am
China Social Infrastructure Panel
Haleakala 2 and 3
11:00 am – 3:00 pm
Group Meetings
Humu Restaurant
12:00 pm – 1:30 pm
Lunch Buffet
Humu Restaurant
3:00 pm – 5:00 pm
China Due Diligence Panel
Haleakala 3
3:30 pm – 6:30 pm
Ultimate Frisbee/Smash Ball
Beach
Family fun event
6:30 pm – 9:30 pm
Hawaiian Luau Dinner
Molokini Gardens
Family fun event
Friday, September 3, 2010
6:15 am – 7:15 am
Sunrise Beach Yoga
Wailea Beach
Mats provided
7:00 am – 3:00 pm
Ilima Foyer
7:00 am – 8:00 am
Morning Coffee
Haleakala Foyer
8:00 am – 9:15 am
China Infrastructure Panel
Haleakala 2 and 3
9:15 am – 9:30 am
Coffee/Tea Break
Haleakala Foyer
9:30 am – 10:45 am
China Energy Panel
Haleakala 2 and 3
11:00 am – 3:00 pm
Group Meetings
Humu Restaurant
12:00 pm – 1:30 pm
Lunch Buffet
Humu Restaurant
1:30 pm – 3:00 pm
Widening Your Investor Base
Haleakala 3
Dual Listings and the Global Investor Marketplace
6:15 pm bus departure
6:30 pm – 9:30 pm
Group Dinner at Longhi's Restaurant
Located in the Wailea shopping center walking distance
from the hotel
Meet at hotel group
entrance
Saturday, September 4, 2010
6:45 am bus departure
7:30 am 1st tee time
Golf at Wailea Emerald Course
7:30 am – 2:00 pm
Molikini Snorkel Tour
7:00 am – 6:00 pm
Road to Hana Adventure Tour
6:00 pm bus departure
6:30 pm – 9:30 pm
Group Dinner at Sarento's on the Beach
Pre-registration required
Lunch provided
Lunch provided
Pack swimwear and sunscreen
Towels provided by hotel
Lunch provided
Not recommended for small children due to length of tour
Meet at hotel group
entrance
Meet at hotel group
entrance
Meet at hotel group
entrance
Meet at hotel group
entrance
Sunday, September 5, 2010
7:30 am 1st tee time
Golf at Wailea Emerald Course
am/pm
Departures
Lunch provided
Inquire with the ROTH activity desk for airport transfers
Meet at hotel group
entrance
Meredith Hook & Dan Wimsatt, aAd Capital Management, L.P.
420 Stevens Ave., # 210
+1 858-350-1077
Phone:
Solana Beach CA, 92075
+1 858-350-5171
Fax:
United States
Reported Equity Assets (USD $B):
Institution Type:
Market Cap:
Styles:
Average P/E:
Average Yield:
Portfolio Turnover:
.041
Hedge Fund Manager
Micro-Cap, Small-Cap, Mid-Cap, Large-Cap
Long/Short
Medium
High
Very High
Top 10 Holdings
FNSR FINISAR CORP
HYC HYPERCOM CORP
RFMD RF MICRO DEVICES INC
NDAQ NASDAQ OMX GROUP INC
CRBC CITIZENS REPUBLIC BANCORP INC
SNIC SONIC SOLUTIONS
SWKS SKYWORKS SOLUTIONS INC
ANAD ANADIGICS INC
AEM AGNICO EAGLE MINES LTD
WFR MEMC ELECTRONIC MATERIALS INC
Overview and Supplemental Information
aAd Capital manages the aAd Partners L.P. and aAd Partners Institutional L.P. hedge
funds, as well as an offshore equivalent. The firm pursues a long/short investment strategy
in U.S. stocks across all market capitalization, with a bias toward small-cap stocks. aAd
may also invest a small portion of its assets in non-U.S. stocks and private investments in
public equity (PIPEs). The firm uses the prime brokerage services of BNP Paribas and the
legal services of Shartsis Friese. The offshore fund is domiciled in the Cayman Islands. All
funds are administered by Hedgeworks and audited by PricewaterhouseCoopers. The
funds launched in April 2005.
Strategy
aAd Capital Management, L.P. primarily invests in U.S. stocks across all market
capitalization. aAd follows a long/short approach. The firm uses bottom up fundamental
research to look for opportunistic and contrarian plays. aAd seeks long positions that it
expects to appreciate by 50 percent in 18 months, and short positions that it expects to
depreciate by 20 percent in 3 to 6 months. The firm holds an average of 50 positions
across a variety of sectors. aAd relies heavily on fundamental, primary research,
including extensive due diligence and face-to-face meetings with company management.
Source: BigDough
Phil Hempleman, Ardsley Partners, L.P.
262 Harbor Dr., 4th Fl.
Stamford CT, 06902
United States
Phone:
Fax:
Institution Type:
Market Cap:
Styles:
Average P/E:
Average Yield:
Portfolio Turnover:
.463
Hedge Fund Manager
Mid-Cap
Momentum
Low
High
Very High
+1 203-355-0700
+1 203-355-0715
Top 10 Holdings
GOOG GOOGLE INC CL A
MRK MERCK & CO INC
YONG TONGYE INTERNATIONAL INC
BRCD BROCADE COMMUNICATIONS SYSTEMS
APPL APPLE INC
TLVT TELVENT GIT SA ORD
CPBY CHINA INFORMATION SECURITY TECH
RBCN RUBICON TECHNOLOGY INC
YUII YUHE INTERNATIONAL INC
CIEN CIENA CORP
Ardsley Partners manages the Ardsley Partners Fund I, L.P., Ardsley Partners Fund II,
L.P., and Ardsley Offshore Fund, LTD hedge funds, as well as separate equity portfolios.
The firm is an opportunistic investor generally seeking U.S. and non-U.S. mid-cap stocks
with market capitalization between $1 billion and $2 billion. Ardsley uses the prime
brokerage services of Goldman Sachs. The Ardsley Partners Fund I, L.P. launched in
August 1987 and the Ardsley Partners Fund II, L.P. launched in August 1988. Both onshore funds are domiciled in Delaware. The Ardsley Offshore Fund, LTD launched in April
1989 and is domiciled in the British Virgin Islands. Ardsley Partners was founded in March
1987.
Strategy
Ardsley Partners, L.P. invests in U.S. stocks across all sectors and midmarket
capitalizations. The research effort is bottom up, and includes visits with corporate
management, seeking to identify individual equities with: (a) significant earnings increases
and momentum; (b) breakthrough products or services; (c) growth catalysts; and, (d)
above-average growth potential. Ardsley will invest a portion of its portfolio in short
positions, depending on market conditions. The firm also hedges with options.
Source: BigDough
Tim Kelly, Avondale Conquest, LLC
631 Bridgeway Avenue
Sausalito CA, 94965
United States
Phone:
Fax:
+1 415-331-3066
+1 415-331-2592
Hedge Fund Manager
Institution Type:
Market Cap:
Small-Cap, Mid-Cap
Event-Driven
Styles:
Avondale Conquest, LLC manages the Conquest I, L.P. hedge fund. The firm invests in
small- and mid-cap stocks. The firm was founded in 2000. Goldman Sachs is the prime
broker; Sidley, Austin, Brown, & Wood is the legal counsel; Rothstein Kass & Company is
the accountant; and Harb, Levy & Weiland LLP is the auditor. Conquest Capital
Management, LLC, and the Bonanza Fund, L.P., were acquired by Avondale Partners,
LLC in March 2006, and were renamed Avondale Conquest, LLC, and Conquest I, L.P.,
respectively.
Strategy
Avondale Conquest builds a focus list of 150-200 stocks that it believes are underfollowed. The firm then uses fundamental analysis, looking at: (a) management; (b)
balance sheets; and, (c) potential catalysts. Catalysts include: (a) management changes;
(b) a major new product cycle; (c) a divestiture or strategic acquisition; (d) a nascent
industry gaining traction; or, (e) the demise or emergence of a competitor. Avondale
Conquest also looks for indicators of a potential change in a stock's valuation, including:
(a) potential new Wall Street coverage; (b) changes to unrealistic Street estimates; (c)
insider buying/selling; or, (d) improving/deteriorating balance sheets.
Source: BigDough
Fernando Liu and Liang Shi, Barron Capital Advisors, LLC
730 Fifth Ave., 25th Fl.
+1 212-359-0200
Phone:
New York, NY, 10019
+1 212-359-0222
Fax:
United States
Institution Type:
Market Cap:
Styles:
Average P/E:
Average Yield:
Portfolio Turnover:
.029
Hedge Fund Manager
Micro-Cap, Small-Cap
Growth
Low
High
Low
Top 10 Holdings
SYPEOPLE FRUIT JUICE INC NON VTG B
SPU SKYPEOPLE FRUIT JUICE INC
CWS CHINA WIND SYSTEMS INC
BIOSTAR PHARMACEUTICALS INC PFCV B
ONP ORIENT PAPER INC
FIND FINDEX.COM INC
BNX BANKS COM INC
TASTC TELESTONE TECHNOLOGIES CORP
BSPM BIOSTAR PHARMACEUTICALS INC
CHME CHINA MEDICINE CORP
Barron Capital Advisors, LLC manages the Barron Partners, L.P. hedge fund. The firm
tends to invest in U.S. value and growth stocks with market capitalization under $500
million. Barron Capital Advisors, LLC is domiciled in Delaware and was launched in
October 2002.
Strategy
Barron Capital Advisors, LLC looks for U.S. stocks with: (a) low price-to-earnings ratios;
(b) strong management interested in share-holder value; (c) strong balance sheets; (d)
liquidity of a stock; (e) strong cash flow ratios; and, (f) strong historical or present and
future organic revenue growth. The firm follows over 1000 stocks using a proprietary
computer model. Barron Capital Advisors, LLC relies on outside research to generate
ideas, but uses in-house research before making any investment decisions. The firm
typically does not leverage any stocks, but may leverage up to 10% of its assets.
Source: BigDough
Berke Bakay & Jeremy Teeple, BBS Capital Management, L.P.
4975 Preston Park Blvd, #775
+1 972-207-3254
Phone:
Plano TX, 75093
+1 214-969-4343
Fax:
United States
Institution Type:
Market Cap:
Styles:
.004
Hedge Fund Manager
Contrarian
Top 10 Holdings
KONA KONA GRILL INC
BBS Capital Management, L.P. manages the BBS Capital Fund, L.P. hedge fund. The firm
focuses primarily on U.S. stocks with $1 billion or less in market capitalization. The firm
was founded in 2008. The BBS Capital Fund was launched on May 1, 2008 and is
Delaware- domiciled. BBS uses the prime brokerage services of Jefferies.
Strategy
BBS seeks stocks that are out of favor in the market.
Source: BigDough
Kapil Jain, Citi Principal Strategies
390 Greenwich Street, 7th Floor
New York NY, 10013
United States
Phone:
+1 212-723-4373
Fax:
+1 212-723-8572
Kapil Jain is Head of the Global Macro and Systematic Investing Group at Citi Principal
Strategies. Citi Principal Strategies ("CPS") is the internal hedge fund investment group of
Citi Global Markets; a diversified financial business with a leading presence in major
global capital markets. The Global Macro and Systematic Investing ("GMSI") Group
operates within CPS, and is focused on investing in equities, fixed income, currency,
commodity and related derivative markets, across the globe.
Mr. Jain has over a decade of hedge fund investing experience, and previously managed
Global Macro investment strategies at D.E. Shaw & Co., and Perry Capital. Mr. Jain holds
a bachelor's degree from Dartmouth College and a master's degree from Stanford
University.
Source: ROTH Capital Partners
Alex Washburn, Columbia Pacific Advisors, LLC
1910 Fairview Ave., E., #500
Phone:
Seattle WA 98101
United States
Institution Type:
Market Cap:
Styles:
Average P/E:
Average Yield:
Portfolio Turnover:
+1 206-728-9063
.125
Hedge Fund Manager
Value
Medium
High
Very Low
Columbia Pacific Advisors, LLC (CPA) manages the Columbia Pacific Opportunity Fund,
L.P. hedge fund. The firm invests in both private and public equity.
Strategy
CPA uses a value approach covering all market caps. The firm uses a variety of sell-side
research.
Source: BigDough
John Fichthorn, Dialectic Capital
875 Third Ave., 15th Fl.
New York NY, 10022
United States
Phone:
Fax:
Institution Type:
Market Cap:
Styles:
Average P/E:
Average Yield:
Portfolio Turnover:
.363
Hedge Fund Manager
Small-Cap, Mid-Cap, Large-Cap
Long/Short
Medium
High
High
+1 212-230-3220
+1 212-829-1663
Top 10 Holdings
TBT_PC PROSHARES TR ULTRASHRT LEHMAN 20 YRS
IMMR IMMERSION CORP
PTV PACTIV CORP
SON SONOCO PRODUCTS CO
WY WEYERHAEUSER CO
RGC REGAL ENTERTAINMENT GROUP CL A
PLC PLUM CREEK TIMBER CO INC
HRS HARRIS CORP
QQQQ POWERSHARES QQQ TRUST UNIT SER 1
CVS CVS CAREMARK CORP
Dialectic Capital Management, LLC manages the long/short Antithesis Capital Partners,
L.P., Dialectic Capital Partners II, L.P., Dialectic Capital Partners, L.P., Dialectic Offshore,
LTD, and Dialectic Antithesis Partners, L.P. hedge funds. The firm invests in U.S. stocks
across all sectors and market capitalizations. Dialectic Capital Partners, L.P. launched in
August 2003 and utilizes the prime brokerage services of Goldman Sachs. Dialectic
Capital was founded in 2003 by John and Luke Fichthorn. The firm's legal counsel is
Seward & Kissell and its auditor is BDO Seidman, LLP.
Strategy
Dialectic Capital Management, LLC invests in U.S. stocks across all sectors and market
capitalizations. The firm begins with a quantitative screen followed by fundamental
analysis and short selling approach while selecting stocks. For its long investments, the
firm looks for stocks with unrealized upside. Dialectic shorts stocks that it feels are
overvalued or have experienced negative events such as allegations of fraud.
Source: BigDough
Steve Emerson, Emerson Investment Group
1522 Ensley Avenue
Phone:
Los Angeles, CA, 90024
Fax:
United States
+1 310-553-4151
+1 310-553-4187
.15
Emerson Group Family Office, DBA as Emerson Investment Group specializes in GARP
(growth at reasonable price) mostly microcp public stocks in specific themes including oil,
alternate energy, gold mining, china and BRIC, G3,G4 implementation, high yield, dollar
decline beneficiaries, at this time.
Ryan Lane, Empery Asset Management, L.P.
120 Broadway, #1019
Phone:
New York, NY, 10271
Fax:
United States
Institution Type:
Market Cap:
+1 212-608-3300
+1 212-608-3307
.008
Hedge Fund Manager
Micro-Cap
Top 10 Holdings
AIS ANTARES PHARMA INC
PIP PHARMATHENE INC
Empery Asset manages hedge funds. The firm invests in U.S. micro-cap stocks. Empery
was founded on February 19, 2008.
Source: BigDough
Edward Kissel, Fidelity Management & Research Company
245 Summer St., 14th Fl.
+1 617-563-7000
Phone:
Boston MA, 02210
United States
Institution Type:
Market Cap:
Styles:
Average P/E:
Average Yield:
Portfolio Turnover:
516.616
Mutual Fund Manager
Growth And Indexed
Medium
High
Low
Top 10 Holdings
AAPL APPLE INC
WFC WELLS FARGO & CO
JPM JPMORGAN CHASE & CO INC
MSFT MICROSOFT CORP
BAC BANK OF AMERICA CORP
PG PROCTER & GAMBLE CO
CSCO CISCO SYSTEMS INC
HPQ HEWLETT PACKARD CO
KO COCA COLA CO
Fidelity Management & Research Company (FMR) manages the Fidelity family of mutual
funds including retail, institutional, and variable annuity products, along with separate
institutional portfolios. The firm's diverse group of portfolios span every asset class,
market cap, and style; there are separate fixed income, balanced, U.S. equity, non-U.S.
equity (international), U.S./non-U.S. (global), small-cap, mid-cap, large-cap, growth, value,
income, quantitative, indexed, and sector-specific portfolios, and combinations thereof.
Small-cap stocks are generally defined as those within the Russell 2000 Index or the S&P
SmallCap 600 Index. Mid-cap stocks are generally defined as those within the Russell
Midcap Index or the S&P MidCap 400 Index. Large-cap stocks are generally defined as
those within the Russell 1000 index or the S&P 500 Index. Due to the chance of
overlapping of market cap ranges it is possible for a stock to be classified as small-, mid-,
or large-cap depending upon which analyst or portfolio manager is reviewing the stock.
FMR also has offices in London, Paris, Tokyo, Singapore, Hong Kong, Mumbai, Sydney,
Taipei, and Seoul. The firm was founded in 1946 by Edward C. Johnson II and is still
family owned. FMR spun off its passive index fund management operation, Geode Capital
Management, LLC, in 2003 and its institutional asset management operation, Pyramis
Global Advisors, LLC, in 2005. Geode is now independent of Fidelity. Please see those
records for additional information.
Strategy
Fidelity Management & Research Company invests in global growth stocks of all market
capitalization.The firm relies on in-house, bottom up research. Fidelity Management
portfolios are typically managed individually, rather than by committee. Due to the variety
of the firm's offerings across several investment styles, no concise investment strategy
can be defined at the firm level. Please see staff records for additional fund-specific
information.
Source: BigDough
Scott Hood, First Wilshire Securities Management, Inc.
1224 E. Green St., #200
+1 626-796-6622
Phone:
Pasadena CA, 91106
+1 626-796-8990
Fax:
United States
Institution Type:
Market Cap:
Styles:
Average P/E:
Average Yield:
Portfolio Turnover:
Top 10 Holdings
26.459
Mutual Fund Manager
Aggressive Growth And Value
Medium
High
Medium
IMAX IMAX CORP
RCII RENT A CENTER INC
ATNI ATLANTIC TELE NETWORK INC
AWK AMERICAN WATER WORKS CO INC
TUP TUPPERWARE BRANDS CORP
SBS SABESP (SANEMENTO BASICO) ADR
HRBN HARBIN ELECTRIC INC
CSH CASH AMERICA INTERNATIONAL INC
NATR NATURES SUNSHINE PRODUCTS INC
RNR RENAISSANCERE HOLDINGS LTD
First Wilshire Securities Management (FWSM) is a micro/small-cap investor for
individuals. The firm generally invests in U.S. stocks with market caps between $50
million and $3 billion. It will occasionally invests in ADRs., as well as in stocks traded on
foreign exchanges and in stocks of foreign companies traded on the US exchanges. First
Wilshire is affiliated with the brokerage firm First Wilshire Securities Company. The firm
was founded in 1977.
Strategy
First Wilshire Securities Management, Inc. primarily invests globally with micro/small
market capitalization. The firm is a value investor. First Wilshire Securities Management,
Inc. uses a bottom up investment approach that seeks U.S. stocks with: (a) positive
earnings or the potential to show positive earnings in the near-term; (b) strong cash flows
and low debt; (c) industry leadership; (d) lack of Wall Street following; (e) strong
management; (f) price-to-earnings ratios below the unweighted market average; and, (g)
high returns on equity. The firm often buys stocks that it believes are undervalued due to
significant tax-related selling. FWSM also invests in turnaround situations involving new
products or concepts, and tends to increase its holdings gradually. The firm rarely invests
in IPO's and will under- or over-weight industry sectors as it sees fit. The research
process includes meetings with other shareholders, suppliers, customers, and
competitors. Investment decisions are made by committee and are contingent on
meetings with management.
Source: BigDough
Randy Kelly, Formula Growth, LTD
28 W. 44th St., #1516
New York, NY, 10036
United States
Phone:
+1 646-429-1426
Fax:
+1 646-429-1411
Institution Type:
Market Cap:
Styles:
.200
Investment Advisor
Growth
Formula Growth, LTD (USA) provides research support for the firm's Canadian branch.
Formula Growth focuses on U.S. small/mid/large-cap growth stocks. Asset management is
done in the firm's Canadian office. For more information, please see the record for Formula
Growth, LTD. The firm's U.S. branch was opened on August 22, 2008.
Strategy
Formula Growth, LTD is a equity investor in U.S. region. The firm covers small-, mid-,
Large- and mega- market caps with growth as its style and Long/Short as its strategy.
Formula Growth, LTD seeks stocks with: (a) innovative products; (b) annual earnings and
revenue growth rates of 20% or greater; (c) low price-to-earnings ratios relative to sector
peers; (d) quality management; (e) sound balance sheets; (f) history of positive returns on
equity; (g) high degree of stock ownership by management; and, (h) a dedicated customer
focus. The firm uses a combination of in-house and external research from major brokerage
firms. Formula Growth typically maintains 150 positions in its portfolios with low turnover
and average holding period of three years. The firm will sell stocks that exhibit deteriorating
fundamentals or become overvalued. Formula Growth meets with management as part of
its investment process.
Source: BigDough
Warren Lammert, Benjamin Tan & Alex Trzesniewski, Granite Point Capital Management, L.P.
222 Berkeley St.
+1 617-587-7500
Phone:
Boston MA, 02116
+1 617-587-7501
Fax:
United States
Hedge Fund Manager
Institution Type:
Micro-Cap, Small-Cap, Mid-Cap
Market Cap:
Value And Long/Short
Styles:
Granite Point Capital manages the Granite Point Capital, L.P. and the Granite Point
Capital Offshore Fund, LTD hedge funds. The firm invests in small/mid-cap U.S. stocks.
Granite Point utilizes the prime broker services of Morgan Stanley. The firm's auditor is
Ernst & Young, and the administrator is Citco.
Strategy
Granite Point Capital invests in Global Long/Short stocks. Granite Point Capital uses
fundamental analysis, and likes to meet with management as part of their research
process.
Source: BigDough
Kevin Goldstein, Great Gable Partners, L.P.
601 California St., #750
Phone:
San Francisco CA, 94108
Fax:
United States
Institution Type:
Market Cap:
Styles:
+1 415-986-1116
+1 415-986-4140
.057
Hedge Fund Manager
Small-Cap, Mid-Cap
Value And Long/Short
Great Gable Partners, L.P. manages the Great Gable Master Fund, LTD, and its feeders,
the Great Gable Capital Fund, L.P. and Great Gable Offshore Fund, LTD hedge funds.
The firm focuses on value investing with a mid-to-smaller-cap bias, which the firm defines
as those stocks with market capitalization less than $5 billion. Great Gable is sector
agnostic. The Great Gable Capital family of hedge funds was launched on January 3,
2005. The offshore fund is domiciled in the Cayman Islands. The firm uses the prime
brokerage services of UBS. Outside contact should be directed to Zuzana Forrest, who
can be reached by email at [email protected] or by phone at 415-986-1116.
Strategy
The firm conducts fundamental bottom up research that is value-oriented. For long
positions, Great Gable seeks stocks with: (a) strong balance sheets; (b) double digit free
cash flow growth; and, (c) management incentives aligned with those of shareholders. In
short positions, the firm looks for companies with high cash burn rates, 12 to 24 months
before cash burns out, and management teams with poor track records. The funds
normally hold 40 long and 40 short positions. Turnover tends to be tax efficient and
therefore low.
Source: BigDough
Sam Winer, Heights Capital Management, Inc
101 California St., #3250
Phone:
San Francisco, CA, 94111
Fax:
United States
Institution Type:
Market Cap:
Styles:
Average P/E:
Average Yield:
Portfolio Turnover:
+1 415-403-6500
+1 415-403-6525
.041
Hedge Fund Manager
Long/Short
Medium
High
Very High
Top 10 Holdings
GILEAD SCIENCES INC NOTE
MJN MEAD JOHNSON NUTRITION CO COM CL A
FCX FREEPORT MCMORAN COPPER CL B
EM C CORP MASS NOTE
FORD MTR CO DEL NOTE
GILEAD SCIENCES INC NOTE
CEPHALON INC NOTE
MYLNP MYLAN PFCV 6.5%10
MICROCHIP TECHNOLOGY INC SDCV
UNITED STATES STL CORP NEW NOTE
Heights Capital manages equity and fixed income portfolios that invest in private
placements. The firm is a growth investor in small/mid/large-cap U.S. stocks that are
interested in extra capital to expand operations, make strategic investments or
acquisitions, or bolster their balance sheet. Heights Capital defines small-cap as those
between $100 and $750 million, mid-cap as those between $750 to $2 billion, and largecap as those over $2 billion. The firm invests across all sectors; however a significant
portion of their portfolio focuses on technology and life sciences. Heights Capital is a
subsidiary of Susquehanna Investment Group.
Strategy
Heights Capital seeks growth stocks that: (a) occupy viable market segments; (b) have a
strong management team; and, (c) have a solid business plan. The firm relies on in-house
and outside sources for investment research, and likes to meet with management
throughout the investment process. Research focuses on: (a) fundamentals; (b) business
plans; and, (c) forecasting.
Source: BigDough
Paul Flather, Hermes Advisors, LLC
1223 Camino Del Mar
Del Mar CA, 92014
United States
Phone:
+1 415-412-3487
26.459
Institution Type:
Mutual Fund Manager
Market Cap:
Styles:
Average P/E:
Medium
Average Yield:
High
Portfolio Turnover:
Medium
Hermes Advisors manages the Hermes Partners, L.P. hedge fund and Ultra Hermes
Fund, LTD offshore hedge fund. The firm invests primarily in micro/small-cap U.S.
equities. The Ultra Hermes Fund started in March of 1996 and Hermes Partners, L.P.
started in April of the same year. In Greek mythology, Hermes was the messenger god
and the god of commerce.
Source: BigDough
Chuck Warltier, Hoak & Company
500 Crescent Ct, #220
Dallas, TX, 75201
United States
Phone:
+1 214-855-2290
Fax:
+1 972-960-4899
Institution Type:
Market Cap:
Styles:
Hedge Fund Manager
Value
Hoak & Co. manages internal assets through the Hoak Public Equities, L.P. hedge fund.
The firm invests in stocks with a market capitalization below $100 million. Hoak also
invests in private equity and distressed debt. The firm was founded in 2004. The firm
prefers to initiate outside contact.
Source: BigDough
George Antonopoulos & Yoav Roth, Hudson Bay Capital Management, L.P.
120 Broadway, 40th Fl.
+1 212-571-1244
Phone:
New York, NY, 10271
+1 212-571-1279
Fax:
United States
Institution Type:
Market Cap:
Styles:
Average P/E:
Average Yield:
Portfolio Turnover:
.456
Hedge Fund Manager
Growth
Medium
High
Very High
Top 10 Holdings
INVITROGEN CORP NOTE
CMS ENERGY CORP NOTE
ISTAR FINL INC FRNT
BRK BERSHIRE HATHAWAY INC CL A
ANNALY CAP MGMT INC NOTE
PROLOGIS NOTE
PBR PETROBRAS ADR
TLB TALBOTS INC
CTQ_TO CORRIENTE RESOURCES INC
XTO XTO ENERGY INC
Hudson Bay Capital (HBC) manages the Hudson Bay Fund, L.P. and Hudson Bay
Overseas Fund, LTD hedge funds. The firm employs multiple strategies, including risk,
merger, and convertible arbitrage, as well as event driven, structured finance, and
long/short equity. HBC invests in global stocks of all market capitalizations, and
participates in PIPEs and SPACs. The firm uses the prime brokerage services of
Citigroup, UBS, and TD Securities. HBC was formerly known as SRG Capital Inc. Before
that, the firm was known as Gerber Asset Management. The principles of HBC have
substantial net worth invested in the funds.
Strategy
Hudson Bay Capital Management, L.P. invests in global stocks across all market
capitalizations. The firm is a growth investor. Hudson Bay Capital Management, L.P.
employs a multi-strategic approach to select stocks.
Source: BigDough
Peter Keane, Keane Capital Management, Inc.
3440 Toringdon Way, #308
Phone:
Charlotte NC, 28277
Fax:
United States
Institution Type:
Market Cap:
Styles:
Average P/E:
Average Yield:
Portfolio Turnover:
+1 704-364-3250
+1 704-364-9381
.192
Hedge Fund Manager
Value
Low
High
High
Top 10 Holdings
AHCI ALLIED HEALTHCARE INTL INC
CRUS CIRRUS LOGIC INC
YONG YONGYE INTERNATIONAL INC
CEC CEC ENTERTAINMENT INC
MHGC MORGANS HOTEL GROUP CO
AGO ASSURED GUARANTY LTD
NOA NORTH AMERICAN ENERGY PTNRS INC
LSE CAPLEASE INC
WAC WALTER INVESTMENT MANAGEMENT
PTRY PANTRY INC
Keane Capital Management, Inc. manages the Keen Vision Fund, L.P., the Keen Vision
Fund II, L.P., the Keen Phoenix Fund, L.P., and the Keen MicroCap Value Fund, L.P., all
of which are micro/small-cap value hedge funds. The firm invests in U.S. stocks,
excluding biotechnology stocks, with an average market cap of $150 million to $2 billion.
The firm was previously called IJL Capital Management and was founded by Peter Keane
in 1999. Keane utilizes the prime brokerage services of UBS. The firm prefers to initiate
outside contact; otherwise it must be contacted by fax or email.
Strategy
Keane conducts an initial screen for the most undervalued and overvalued stocks relative
to baseline value and cash flow return on investment (CFROI) rates for their long and
short positions, respectively. Fundamental analysis is conducted on those stocks that
screen well, seeking: (a) sound balance sheets; (b) quality management; (c) sound
market positions; and, (d) earnings momentum for the long positions. For short positions
the firm looks for: (a) catalysts for negative change; (b) negative earnings revisions; (c)
earnings disappointments; and, (d) deteriorating competitive industry positions. The funds
hold an average of 50-70 long positions and 40-50 short positions, and will leverage up to
40%. Keane likes to meet with corporate management and uses some Wall Street
research.
Source: BigDough
Chris Hsu, Kilometre Capital
Suite 1701, 17/F International Commerce Centre
1 Austin Road, West Kowloon
Hong Kong
Phone:
+852-3197-2388
Fax:
+852-3197-2389
Management takes conviction equity positions in selected Asian growth equity companies.
Portfolio investments span the Asia Pacific region but with an emphasis on China, Korea,
Taiwan, and Australia. Kilometre's investment mandate targets concentrated positions in
companies that carry compelling growth, value, and management characteristics.”
Mike Self, Lake Union Capital Management, LLC
One Union Sq. 600 University St., #1520
Phone:
Seattle WA, 98101
Fax:
United States
Institution Type:
Market Cap:
Styles:
Average P/E:
Average Yield:
+1 206-838-3277
+1 206-859-5188
.020
Hedge Fund Manager
High
High
.020
Top 10 Holdings
VTSS VITESSE SEMICONDUCTOR CORP
KITD KIT DIGITAL INC
SLRY SALARY COM INC
BPHX BLUEPHOENIX SOLUTIONS LTD ORD
Lake Union Capital manages the Lake Union Capital Fund, L.P. hedge fund. The firm
invests in U.S. stocks. Lake Union Capital Management, LLC and the fund were founded
on June 20, 2003 and are registered in Delaware.
Strategy
Lake Union Capital Management, LLC invests in U.S. small- through mega-cap stocks
using a long/short approach. The firm uses fundamental analysis.
Source: BigDough
Justin Borus, Lazarus Management, LLC
2401 E. Second Ave., #400
Denver CO, 80206
United States
Phone:
+1 303-302-9035
Fax:
+1 303-302-9050
Institution Type:
Market Cap:
Styles:
Average P/E:
Average Yield:
Portfolio Turnover:
.006
Hedge Fund Manager
Micro-Cap
Value
High
High
Very Low
Top 10 Holdings
PRCP PERCEPTRON INC
MMG METALLINE MINING INC
PSCP PSI CORP
WEX_VC WIN ELDRICH MINES LTD
AERO AEROGROW INTERNATIONAL INC
Lazarus Management Company manages the Lazarus Investment Partners, LLLP, a long
only hedge fund. The firm focuses on U.S. micro-cap stocks which the firm defines as
those with market caps below $250 million. Lazarus may consider non-U.S. stocks on a
limited basis. The Lazarus Investment Partners, LLLC is domiciled in Colorado, uses the
legal counsel of Berenbaum, Weinshienk & Eason, and is audited by Mayer Hoffman
McCann P.C. The firm was co-founded in May 2003 by Justin Borus and Michael
Barish.Lazarus implements its trades through Instinet.The firm resides in the offices of
Cambiar Investors, Inc.
Strategy
The firm looks for niche businesses that are doing well, in that they possess: (a) strong
fundamentals; (b) little or low debt; and, (c) strong cash positions. Lazarus avoids stocks
that are at the pre-revenue stage or possess a high burn rate. Lazarus does not engage in
short selling and does not use leverage. The fund tends to hold between 30 to 35
positions and expects to hold positions for a 2 to 5 year period. A single position generally
accounts for 3% (at cost) of the portfolio's value, and never accounts for more than 10% of
the portfolio. A stock is sold when a stock is priced ahead of its fundamentals, its story
changes, or if the stock price reflects its fundamental value. Lazarus benchmarks its
portfolio against the broader market, generally the S&P 500 and Russell 2000 indexes.
The firm meets with management as part of its investment process. The stocks Lazarus
considers are in the micro-cap space and tend to have little or no Street coverage.
Source: BigDough
David Cohen, Manatuck Hill Partners, LLC
350 Park Ave., 27th Fl.
Phone:
New York, NY, 10022
Fax:
United States
Institution Type:
Market Cap:
Average P/E:
Average Yield:
Portfolio Turnover:
+1 212-993-2000
+1 212-993-2001
.692
Hedge Fund Manager
Small-Cap, Mid-Cap
Medium
High
Low
Top 10 Holdings
CMG CHIPOTLE MEXICAN GRILL INC CL A
ALXN ALEXION PHARMACEUTICALS INC
IMAX IMAX CORP
DXCM DEXCOM INC
VICR VICOR CORP
SANM SANMINA SCI CORP
CROX CROCS INC
STAA STAAR SURGICAL CO
CNK CINEMARK HOLDINGS INC
RGC REGAL ENTERTAINMENT GROUP CL A
Manatuck Hill Partners, LLC manages the Pequot Scout hedge fund. The firm invests in
U.S. small-cap stocks across all sectors. Manatuck was founded on March 26, 2009.
Strategy
Manatuck Hill Partners, LLC invests in U.S. stocks on all sectors across small- and midmarket capitalization. The firm uses a long/short approach to select stocks.
Source: BigDough
John Gruber, McBaine Capital Management, LLC
50 Osgood Pl.
Phone:
San Francisco, CA, 94133
Fax:
United States
Institution Type:
Market Cap:
Styles:
Average P/E:
Average Yield:
Portfolio Turnover:
+1 415-981-1252
+1 415-956-7858
.578
Hedge Fund Manager
Aggressive Growth
Medium
High
High
Top 10 Holdings
STKL SUNOPTA INC
OCLR OCLARO INC
MDCA MDC PARTNERS INC CL A SUB-VTG
AKRX AKORN INC
SIGA SIGA TECHNOLOGIES INC
NUAN NUANCE COMMUNICATIONS INC
SUPX SUPERTEX INC
SAPE SAPIENT CORP
AMD ADVANCED MICRO DEVICES INC
CPN CALPINE CORP COM NEW
Gruber & McBaine Capital (GMC) manages the Lagunitas Partners, L.P. and Gruber &
McBaine International, LTD hedge funds, as well as separate accounts. The firm is
primarily a small/mid/large-cap aggressive growth investor that tends to select U.S. stocks
with market caps greater than $250 million, but has no strict market cap limits. The firm
uses BNP Paribas as its prime broker for its U.S. investments and Morgan Stanley as its
prime broker for non-U.S. investments. Gruber & McBaine does not accept cold calls and
prefers to initiate outside contact.
Strategy
Gruber & McBaine Capital Management, LLC invests in U.S. stocks across all sectors and
market capitalizations. The firm is an aggressive growth investor. Gruber & McBaine
Capital Management, LLC(GMC) generally seeks equities with: (a) rapid and sustained
earnings growth and revenue increases; (b) quality management; and, (c) potential for
breakthrough products or services. The firm will also consider stocks it believes are
undervalued and invests up to 5% of its assets in non-U.S. equity. Research is primarily
bottom up, focusing on the strength of management to achieve goals and increase
revenue. GMC is long-biased and will short between 10-25% of its assets, depending on
market conditions. The firm does not invest in derivative instruments or leverage its
portfolios.
Source: BigDough
Michael Smedley, Morgan Meighen & Associates, LTD
10 Toronto St.
+1 416-366-2931
Phone
Toronto, ON, M5C 2B7
+1 416-366-2729
Fax
Institution Type:
Market Cap:
Styles:
Average P/E:
Average Yield:
Portfolio Turnover:
.687
Mutual Fund Manager
Growth And Income
Low
High
Medium
Top 10 Holdings
CGI_TO CANADIAN GENERAL INVESTMENTS
GBTA_TO BMTC GROUP INC CL A
PRE_TO PACIFIC RUBIALES ENERGY CORP
LIFUT_TO LABRADOR IRON ORE ROYALITY FD
SXCI SXC HEALTH SOLUTIONS CORP
BOXUT_TO BROOKFIELD OFFICE PPTYS CDA TR
FNV_TO FRANCO NEVADA CORP
BMO BANK OF MONTREAL
RY ROYAL BANK OF CANADA
ENB ENBRIDGE INC
Morgan Meighan & Associates, LTD (MMA) manages the Canadian General Investments,
LTD, Canadian World Fund, LTD, and Third Canadian General Investment Trust, LTD
closed-end equity funds. The firm also manages the MMA Income Portfolio, a pooled fund
for individuals as well as separate accounts. MMA has a minimum market capitalization
requirement of $500 million but tends to invest in stocks with market caps above $1 billion.
Colonel Maxwell C.G. Meighen founded MMA in 1955 to manage the assets of the closedend funds that were co-founded in 1928 by his father, The Right Honourable Arthur
Meighen P.C. Q.C., the former Prime Minister of Canada. The firm also shares the office
with Scarthingmoor Asset Management.
Strategy
Top down analysis is conducted to identify emerging markets that will offer growth
potential. The firm also uses a bottom up approach to identify growth-oriented Canadian,
U.S., and non-North American stocks with: (a) market dominance; (b) long-term growth
potential; (c) quality management; (d) reasonable valuations; and, (e) the ability to benefit
from market trends.
Source: BigDough
Scott Storkamp, Morgens Waterfall Vintiadis & Company
600 Fifth Ave., 27th Fl.
+1 212-218-4100
Phone:
New York, NY, 10020
+1 212-218-4130
Fax:
United States
Institution Type:
Market Cap:
Styles:
Average P/E:
Average Yield:
Portfolio Turnover:
.102
Hedge Fund Manager
Long/Short
Low
High
High
Top 10 Holdings
AAPL APPLE INC
PODD INSULET CORP
CFN CAREFUSION CORP
AMT AMERICAN TOWER CORP CL A
DUSA DUSA PHARMACEUTICALS INC
SBAC SBA COMMUNICATIONS CORP
COV COVIDIEN PLC
GLW CORNING INC
DELL DELL INC
RE EVEREST RE GROUP LTD
Morgens Waterfall Vintiadis & Company is the general partner of the Phoenix Partners I,
L.P., Phoenix Partners II, L.P., Restart Partners I, L.P., Restart Partners II, L.P, Restart
Partners III, L.P, Restart Partners IV, L.P, Restart Partners V, L.P, Morgens Waterfall
Income Partners, L.P., Prime Group I, L.P., Prime Group II, L.P., Prime Group III, L.P.,
Prime Group IV, L.P., and Prime Group V, L.P. hedge funds. The firm also manages the
Phaeton International hedge fund and separate equity portfolios for individual investors.
The firm previously focused heavily on distressed fixed income, but liquidated those
holdings in April 2001. Morgens Waterfall utilizes the prime brokerage services of Morgan
Stanley. The firm was founded in the 1960s with the launch of the Phoenix Partners, L.P.
and the Thaeton BBI, LTD funds.
Source: BigDough
Michael Mork & Peter Mork, Mork Capital Management
235 Healdsburg Ave, #204
+1 707-431-1057
Phone:
Healdsburg, CA 95448-4131
United States
Mork Capital Management, founded in 2002, runs a long-only investment fund MCAPM,
LP. The fund has $40 million in AUM broken into 3 distinct portfolios: a Micro-Cap
Portfolio, a Large-Cap Growth Portfolio, and a Value Portfolio. The Value Portfolio
represents 40% of the fund and selects stocks based on a high yield, low P/E, multiindustry based quantitative model. The Large-Cap Growth Portfolio is another 40% of the
total fund and takes a bottom-up approach selecting large-cap leaders in their industries
that are trading at a discount to the market. The remaining 20% of the fund is invested in
the Micro-Cap Portfolio compromised of stocks with a market-cap under $250 million
trading at low multiples.
Beverly McKuin & Steve Monticelli, Mosaic Investments, LLC
275 Battery Street, Street Suite 1170
+1 415-956-5000
Phone:
United States
Institution Type:
Hedge Fund Manager
Market Cap:
Value
Styles:
Low
Average P/E:
Medium
Average Yield:
Medium
Portfolio Turnover:
Mosaic Investments, LLC (Mosaic) manages the Mosaic Partners, L.P. and The Triwizards
Fund, L.P. hedge funds, as well as separate portfolios for institutions. The firm is a U.S.,
Asian, and European value investor seeking stocks of all market caps in the retail, media,
gaming, and consumer sectors. Mosaic uses Baypoint/Goldman Sachs as its prime
broker. Mosaic Partners, L.P. was launched in September 1998 and is domiciled in
Delaware.
Strategy
Mosaic uses a proprietary model to select stocks with: (a) low price-to-earnings ratios
relative to the sector; (b) strong customer bases; (c) strong balance sheets; (d) doubledigit annual earnings growth potential; (e) low price-to-book values; and, (f) strong cash
flows. The portfolio consists of 20-30 positions and is benchmarked to the S&P Retail
Index and the S&P 500 Index. Depending on market conditions, Mosaic may short up to
40% of the funds using stocks and exchange traded funds (ETFs), such as SPDRs. The
firm will occasionally leverage the portfolios and hedge positions using options.
Source: BigDough
William H. Mann, Motley Fool Asset Management, LLC
2000 Duke St. #175
+1 703-838-3665
Phone:
Alexandria, VA
United States
Institution Type:
Market Cap:
Styles:
Average P/E:
Average Yield:
Portfolio Turnover:
Mutual Fund Manager
Value
Low
Medium
High
Motley Fool manages the Motley Fool Independence Fund mutual fund. The firm invests in
global stocks across all market capitalization and sectors. Motley Fool Asset Management,
LLC was founded on September 23, 2008. The Motley Fool Independence Fund was
launched on June 6, 2009.
Strategy
Motley Fool Asset Management, LLC invests in global value stocks across all market
capitalization and sectors. The firm uses fundamental analysis and a bottom up approach
toward investing in undervalued stocks. Motley seeks stocks with: (a) few liabilities: (b)
strong management; (c) understandable business models; and, (d) clear and reliable
disclosures and regulations. The firm intends to focus on stocks with minimal leverage and
strong cash flow.
Source: BigDough
Tom Laird, Mulholland Capital Management, LLC
24950 Paseo Del Rancho
Phone:
Calabasas CA, 91302-3086
Fax:
United States
Institution Type:
Market Cap:
Styles:
+1 818-225-8555
+1 818-223-9881
.007
Investment Advisor
Alternative
Mulholland Capital manages the Mulholland Fund, L.P. hedge fund. The firm invests in
U.S.: (a) stocks; (b) bonds; and, (c) derivatives. Mulholland Capital Management, LLC was
founded on December 16, 2002 in California. The fund was launched on February 28,
2005 and is domiciled in Delaware.
Source: BigDough
John Menzies, Pacific Growth Equity Management, LLC
One Bush St., #1700
+1 415-274-6800
Phone:
+1 415-274-6888
Fax:
United States
Institution Type:
Market Cap:
Styles:
.019
Hedge Fund Manager
Long/Short
Pacific Growth Equity (PGEM) manages the PGE Partner Fund, L.P., PGE Yield Fund,
L.P., and PGE Partner Fund II, L.P. hedge funds. The firm is affiliated with the sell-side
firm Pacific Growth Equities, LLC.
Strategy
Pacific Growth Equity Management, LLC primarily invests in U.S. region with market
capitalization above $200millions and long/short as strategy. The firm is a Alternative
investor. Pacific Growth Equity Management, LLC is a growth-based investor. It adopts a
bottom-up approach, and invests in US equities, emerging growth equities and ADR’s that
show potential for rapid, aggressive growth. The firm invests across all market caps and is
not sector specific in its stock selection.
Source: BigDough
Carrie Tallman, Perimeter Capital Partners, LLC
Five Concourse Pkwy., #2725
Phone:
Atlanta GA, 30328
Fax:
United States
Institution Type:
Market Cap:
Styles:
Average P/E:
Average Yield:
Portfolio Turnover:
+1 770-350-8700
+1 770-350-8701
.670
Mutual Fund Manager
Small-Cap, Mid-Cap
Growth
Medium
High
High
Perimeter Capital Partners (PCP) manages the Perimeter Small Cap Growth Fund mutual
fund as well as separate portfolios for individual and institutional investors. The firm
invests in U.S. growth stocks with a market capitalization between $100 million and $3
billion. PCP was founded in June 2006 by former Trusco Capital Management employees.
The firm is minority owned by Rosemont Investment Partners, a private equity firm.
Strategy
Perimeter Capital Management, LLC (PCP) invests in U.S. growth stocks across smalland midmarket capitalization.PCP starts by using quantitative screens to narrow down
their universe followed by fundamental analysis. The firm looks to investing in stocks with:
(a) positive earnings growth; (b) improving fundamentals; (c) strong balance sheet; and (d)
reasonable valuation. PCP typically holds between 200-220 stocks in a portfolio. The firm
benchmarks against the Russell 2000 Growth Index. The Perimeter Small-Cap Growth
Fund invests at least 80% of its net assets in small-cap equity securities under normal
market circumstance.
Source: BigDough
PJ Forney, Barry Kitt & Bin Yang, Pinnacle China Advisers, L.P.
145 E 57th St, 11th Fl.
+1 972-985-2121
Phone:
New York NY, 10022
+1 972-985-2122
Fax:
United States
Institution Type:
Market Cap:
Styles:
Average P/E:
Average Yield:
Portfolio Turnover:
.084
Hedge Fund Manager
Growth And Sector Specific
Low
High
Medium
Top 10 Holdings
DYP DUOYUAN PRINTING INC
CVVT CHINA VALVES TECHNOLOGY INC
YUII YUHE INTERNATIONAL INC
ENHD ENERGROUP HOLDINGS CORP
HEK HECKMANN CORP
WWIN WINNER MEDICAL GROUP INC
PRKR PARKERVISION INC
DYAI DYADIC INTERNATIONAL INC
CAST CHINACAST EDUCATION CORP
APNT APPLIED NANOTECH HOLDINGS INC
Pinnacle Advisers, L.P. manages the Pinnacle Fund, L.P. hedge fund. The firm is a growth
investor that focuses on micro/small-cap U.S. stocks. The firm was founded in January
1994 with the launch of the Pinnacle Fund, L.P., which is domiciled in Texas.
Strategy
Pinnacle China Advisers, L.P. invests in U.S. technology growth stocks across micro- and
small- market capitalizations. Pinnacle's research process is fundamental and looks for
reasonably-priced stocks with attractive appreciation potential, often seeking to identify
those that are relatively undiscovered and under-followed. The firm also looks for stocks
with: (a) growing revenue streams of at least 10%; (b) increasing earnings per share; (c)
strong balance sheets; (d) high gross margins; and, (e) experienced management that will
host quarterly conference calls. Pinnacle is not interested in stocks within the: (a)
biotechnology; (b) pharmaceutical; (c) healthcare; (d) restaurant; (e) natural resources; (f)
clothing retail; and, (g) financial sectors. The firm tends to avoid cyclical or seasonal
stocks. Pinnacle generally hedges using index options. The firm occasionally invests in
mid/large-cap stocks and private equity
Source: BigDough
Blair Baker, Precept Management, LLC
200 Crescent Ct., #1450
Dallas TX, 75201
United States
Phone:
+1 214-880-7444
Fax:
+1 214-880-0082
Institution Type:
Market Cap:
Styles:
.021
Hedge Fund Manager
Long/Short
Top 10 Holdings
IOPD INTRAOP MEDICAL CORP
Precept Management, LLC manages the Precept Capital Management, L.P., which is the
general partner of the Precept Fund, L.P., the Precept Fund (QP), L.P., the Precept
Management Partners, L.P., the Precept Market Neutral Fund, L.P., and is also the
investment advisor to the offshore equivalent, Precept International Fund, LTD. The firm is
a long/short investor, seeking primarily U.S. stocks across all market caps, but also
invests in non-U.S. stocks. Precept utilizes the prime brokerage services of Goldman
Sachs. Ernst & Young is the auditor of the hedge funds managed by the firm. The Precept
Fund, L.P. is domiciled in Texas and was launched in February 1998. The Precept
International Fund, LTD is domiciled in the Cayman Islands and was launched in March
1998.
Strategy
Precept Capital Management, L.P. invests in U.S. stocks across all sectors and market
capitalizations. The firm attempts to capitalize on Wall Street misperceptions through
aggressive bottom up research. Precept likes to meet with management teams, suppliers,
customers, and competitors before making investment decisions. The portfolio generally
consists of 100 positions and is typically net long 50%, short 20-30% of total assets, and
does not leverage long positions. The firm will consider liquidating a position when the
stock reaches its assigned price objective or when it has greatly underperformed its
expectations.
Source: BigDough
Geoff Crosby, Proximity Capital, LLC
120 Kearney St.
United States
Phone:
+1 415-397-1755
Fax:
+1 415-397-1790
Institution Type:
Market Cap:
Average P/E:
Average Yield:
Portfolio Turnover:
.001
Hedge Fund Manager
Medium
Low
High
Top 10 Holdings
DSNY DESTINY MEDIA TECHNOLOGIES INC
Proximity Capital, LLC manages the Proximity Fund, L.P. hedge fund. The firm focuses on
small-cap technology-oriented companies with market caps less than $2 billion. Proximity
utilizes the prime brokerage and custodial services of BNP Paribas. The Proximity Fund,
L.P. was launched in August 1998, and is domiciled in Delaware. Proximity International,
LTD, domiciled in the Cayman Islands, was dissolved in 2006. The name Proximity Fund
was chosen as a reference to Doctor Goss' co-invention of the Proximity Fuse, which
enabled the first guided missiles. The firm was previously known as Crosby Partners, LLC
until June 2001.
Strategy
Proximity's research effort combines the Goss Stock Model with qualitative analysis and
top down research. The firm looks for stocks that are under-followed by Wall Street with
sustainable growth prospects and the potential for dramatic price appreciation due to
industry-wide or stock-specific catalysts. Proximity uses top down research to identify
emerging trends in the technology sector and then attempts to identify individual stocks
positioned to benefit from those trends. The Goss Stock Model is designed to measure
earnings acceleration based on a stock's last eight quarters of reported earnings and
revenue acceleration. Stocks that score well undergo qualitative analysis including contact
with corporate management to determine the foundation and sustainability of the stock's
growth. The firm typically holds 60-80 stocks in its portfolio. Individual long positions
comprise no more than 10% of the fund's assets at the time of purchase and short
positions may not exceed 5%. Proximity typically maintains a 20-40% net long position
and uses shorting as a hedging strategy. The firm will short stocks it believes have
unsustainable growth prospects or impending negative catalysts. Proximity can also invest
up to 20% of its assets in private equity opportunities, and will hold a portion of assets in
cash positions. The firm may leverage a portion of its assets, although it has not used
leverage since inception.
Source: BigDough
Amit Baid, Pyramis Global Advisors, LLC
900 Salem St.
Smithfield RI, 02917
United States
Phone:
Institution Type:
Market Cap:
Styles:
Average P/E:
Average Yield:
Portfolio Turnover:
49.502
Mutual Fund Manager
Growth And Neutral
Low
Medium
Low
+1 617-563-7000
Top 10 Holdings
TD TORONTO DOMINION BANK
SU SUNCOR ENERGY INC
GG GOLDCORP INC
CNQ CANADIAN NATURAL RESOURCES LTD
CM CANADAIAN IMPERIAL BANK COMMERCE
ABX BARRICK GOLD CORP
TLM TALISMAN ENERGY INC
RCI ROGERS COMMUNICATION INC CL B NVTG
POT POTASH CORP OF SASKATCHEWAN
Pyramis Global Advisors, LLC manages equity and fixed income assets for corporate and
public retirement funds, endowments, foundations, financial institutions, governments, and
non-U.S. investors. The firm invests globally across all market caps. Pyramis was founded
in 2005 and is the institutional asset management arm of Fidelity Management &
Research Company.
Strategy
Pyramis employs the following strategies: (a) domestic equity; (b) international equity; (c)
fixed income; (d) high yield; (e) real estate; and, (f) long/short. From a universe of 7,500
stocks, the firm uses in-depth fundamental and quantitative analysis to identify those that
outperform the market.
Source: BigDough
Stephen Saltzstein, RAM Capital Resources, LLC
535 5th Ave, 25th Floor
Phone:
New York NY, 10017
Fax:
United States
Institution Type:
Market Cap:
Average P/E:
Average Yield:
+1 212-888-2224
+1 212-332-5051
Hedge Fund Manager
Low
High
RAM Capital Resources, LLC manages the Truk Opportunity Fund and the Truk
International Fund. Atoll Asset Management is the managing member of the firm's two
hedge funds.
Strategy
The firm is a growth investor that focuses on micro/small/mid-cap stocks, typically with
market caps between $75 million and $1 billion at the time of purchase. RAM tends to hold
positions in the technology, health care, communications, basic industries, and consumer
sectors, among others. The firm's investment process emphasizes management strength
and liquidity.
Source: BigDough
Jie Li, Reflection Capital
640 S Federal St. #405
Chicago IL, 60605
United States
Phone:
Fax:
.05
+1 312-341-1478
+1 270-574-8562
Reflection Capital Management, LLC was founded in 2010 by Jie Li, a former portfolio
manager at Aragon Global Management. Reflection is a value-based alternative
investment manager that utilizes a long/short investment style. The firm invests in global
equities across all market caps with a bias for those within the media and
telecommunications sectors.
Russell Cleveland, RENN Capital Group, Inc.
8080 N. Central Expwy., #210 LB59
Phone:
Dallas TX, 75206-1857
Fax:
United States
Institution Type:
Market Cap:
Styles:
Average P/E:
Average Yield:
Portfolio Turnover:
+1 214-891-8294
+1 214-891-8291
.098
Mutual Fund Manager
Low
High
Very Low
Top 10 Holdings
COVR COVER-ALL TECHNOLOGIES INC
SKBI SKYSTAR BIO PHARMA CO
HOGS ZHONGPIN INC
HOLI HOLLYSYS AUTOMATION TECH
BVX BOVIE MEDICAL CORP
FSIN FUSHI COPPERWELD INC
SIHI SINOHUB INC
WATG WONDER AUTO TECHNOLOGY INC
CMSF CAMINOSOFT CORP
COGO COGO GROUP INC
RENN Capital Group, Inc. manages the Renaissance Capital Growth and Income Fund III
(RCGIF) closed-end U.S. domiciled mutual fund, as well as the Renaissance U.S. Growth
Investment Trust (RUSGI) and a portion of the BFS U.S. Special Opportunities Trust
(BFS) closed-end U.K. domiciled mutual funds The firm also sub-advises the Premier
RENN U.S. Emerging Growth Fund (PRUS) open-end U.K. domiciled mutual fund. RENN
invests in micro/small-cap PIPEs, convertibles, and stocks with a market capitalization
below $1 billion; however, the majority of the investments are less than $300 million. The
BFS U.S. Special Opportunities Trust comprises of two portfolios: the U.S. Growth
Portfolio managed by RENN and the Income Portfolio managed by BFS. The firm was
established in 1973.
Strategy
The firm's bottom up analysis to identify and invest in small companies having the
following characteristics: (a) defensible position in a growing industry; (b) established
business process; (c) solid potential earnings and cash-flow growth; (d) attractive
valuations; and, (e) quality management with a stake in the business. RENN Capital
Group prefers to invest in stocks with at least a three-year operating history and revenues
between $15-150 million. The firm avoids early-stage technology and biotechnology
stocks, as well as real estate, mining, financial services, and insurance stocks.RCGIF
invest in equity and convertibles of small- and mid-cap stocks. RUSGIT invests in privately
placed convertibles and benchmarks against the Russell 200 Index.BFS invests in equity
and convertibles of U.S. small-cap stocks and U.K. high yield securities.PRUS invests in
U.S. micro/small-cap U.S. stocks. The fund typically holds 30-40 positions and
benchmarks against the Russell 2000 Index.
Source: BigDough
Paul Connolly, Southwell Management, L.P.
1901 N. Akard St.
Phone:
Dallas TX, 75201
Fax:
United States
Institution Type:
Market Cap:
Average P/E:
Average Yield:
+1 214-922-9696
+1 214-922-9699
.010
Hedge Fund Manager
Low
High
Top 10 Holdings
REIS REIS INC
PRKR PARKERVISION INC
Southwell Management, L.P. (Southwell) manages the Southwell Partners, L.P. hedge
fund. The firm primarily invests in micro/small-cap U.S. stocks, as well as PIPES.
Southwell was founded in 1990 by Wilson Jaeggli.
Strategy
Southwell Management, L.P. invests in U.S. long/short stocks and PIPEs across all
sectors and micro- and small- market capitalizations. The firm conducts in-house, growthoriented, fundamental research to pursue a long/short investment approach. The company
holds 25 or less positions in their portfolio.
Source: BigDough
Michelle Fang, Straus Asset Management, LLC
767 Third Ave., 21st FL,
Phone:
New York NY, 10017
Fax:
United States
+1 212-415-7266
+1 212-415-7256
Institution Type:
Market Cap:
Styles:
Average P/E:
Average Yield:
Portfolio Turnover:
Top 10 Holdings
.180
Hedge Fund Manager
Small-Cap, Mid-Cap
Short Selling
Medium
High
Medium
HALO HALOZYME THERAPEUTICS INC
IPXL IMPAX LABORATORIES INC
PETM PETSMART INC
AFFY AFFY MAX INC
IOC INTEROIL CORP
NKTR NEKTAR THERAPEUTICS
ACOR ACORDA THERAPEUTICS INC
HTWR HEARTWARE INTERNATIONAL INC
CAL CONTINENTAL AIRLINES INC CL B
LULU LULULEMON ATHLETICA INC
Straus Asset Management, LLC (SAM) manages the hedge funds. The firm invests in U.S.
small, mid-cap stocks seeking short selling as primary investment strategy and long/short
as directional strategy. SAM tends to invest in stocks with market capitalization between
$100 million and $1.5 billion that it believes offer annual earnings growth potential of 25%
or greater. The firm uses Neuberger Berman as its prime broker. SAM was founded by
former Weiss Peck & Greer portfolio manager Mickey Straus with the launch of the Straus
Partners, L.P. hedge fund in January 1998. Straus Asset Management, LLC is also known
as Straus Capital Management.
Strategy
Straus Asset Management, LLC invests in U.S. stocks across small- through midmarket
capitalizations. The firm begins with research provided by outside sources. Stocks that are
recommended buys undergo fundamental analysis focusing on: (a) market niche or
competitive advantages; (b) cash flows; (c) annual earnings growth potential; (d) debt
levels; (e) management strength; and, (f) growth catalysts. SAM tends to focus on stocks
that it believes are establishing new markets or improving on existing ones. The firm tends
to hold its positions for the long-term, but will sell a stock if it: (a) reaches price/earnings
objectives; (b) declines in earnings growth potential; (c) declines in market share; or, (d)
competitive advantages decrease. The portfolio consists of approximately 100-125
positions. Depending on market conditions, SAM will short up to 40% of its positions,
purchase options, and will use leverage. The firm combines in-house research with
outside analysis, emphasizing meetings with management before making investment
decisions.
Source: BigDough
Anthony Valencia, TCW Investment Management Company
865 S. Figueroa St., #1800
+1 213-244-0000
Phone:
Los Angeles CA, 90017
+1 213-244-0588
Fax:
United States
Institution Type:
Market Cap:
Styles:
Average P/E:
Average Yield:
Portfolio Turnover:
Top 10 Holdings
21.938
Mutual Fund Manager
Growth And Value
Medium
High
Low
AAPL APPLE INC
JPM JPMORGAN CHASE & CO INC
CVS CVS CAREMARK CORP
HON HONEYWELL INTERNATIONAL INC
ROK ROCKWELL AUTOMATION INC
CHRW CH ROBINSON WORLDWIDE INC
ACE ACE LTD ORD
HD HOME DEPOT INC
WFC WELLS FARGO & CO
TCW Investment manages the TCW family of mutual funds and separate growth-, value-,
balanced-, convertible-, fixed income-, and theme-oriented portfolios for individuals and
institutions. The firm is a wholly owned subsidiary of the TCW Group, Inc., which is an
indirect subsidiary of Société Générale, S.A. TCW was founded in 1971. TCW Investment
Management Company announced its acquisition of Metropolitan West Asset
Management, LLC on December 4th 2009. The acquisition will be finalized during the first
quarter of 2010.
Strategy
The firm uses a top down approach for core equity portfolios that focuses on
macroeconomic changes and themes, and sectors expected to benefit from these
changes. A bottom up approach is then used to identify individual stocks with sound
fundamentals trading at discounts to growth potential. The large-cap growth strategy
seeks stocks with market capitalization above $3 billion and relies on a combination of
fundamental analysis, proprietary forecasts, and quantitative portfolio construction to find
stocks that: (a) have above-average earnings growth prospects; (b) are leaders in their
respective industries; and, (c) have good earnings and cash flow visibility with minimal
business risk. Portfolios are benchmarked against the S&P/BARRA Growth Index and
typically hold between 40 and 60 stocks. TCW manages a small-cap value portfolio in
New York that looks for under-followed stocks with: (a) undervalued assets; (b) turnaround
potential; and, (c) growth potential. Portfolio managers have flexibility to shape their
investment strategy, but are typically attached to a specific portfolio, though a number of
industry analysts provide research that is used across the entire equity product line.
Source: BigDough
Stuart Bradley, Claire Duan, Antti Uusiheimala & Jean Wang, Vision Capital
Management, LLC
20 W. 55th St.
+1 212-849-8225
Phone:
New York NY, 10019
+1 212-867-1416
Fax:
United States
Institution Type:
Market Cap:
Average P/E:
Average Yield:
Portfolio Turnover:
Top 10 Holdings
.149
Hedge Fund Manager
Micro-Cap, Small-Cap,
Low
High
Low
SHENGKAI INNOVATIONS INC PFCV A
MPSP MEDPRO SAFETY PRODUCTS INC
CPBY CHINA INFORMATION SECURITY TECH
WUHAN GENERAL GROUP CHINA INC SER B
SUWG SUNWAY GLOBAL INC
PPRW PREMIER POWER RENEWABLE ENERGY
CBEH CHINA INTEGRATED ENERGY INC
T3 MOTION INC PFCV SER A
MERU MERU NETWORKS INC
WUHN WUHAN GENERAL GROUP CHINA INC
Vision Capital Advisors, LLC (VCA) manages the Vision Opportunity Master Fund, LTD
hedge fund and its feeders, the Vision Opportunity Capital Partners, L.P. and Vision
Opportunity Partners, LTD hedge funds. The firm invests in micro- and small-cap PIPEs.
VCA does not employ shorts, arbitrage plays, or leverage. The firm was founded in June
2005. VCA uses the Rothstein, Kass & Co. as its auditor and is domiciled in DE.
Strategy
Vision Capital Advisors, LLC invests in global stocks across micro- and small- market
capitalizations. The firm looks for PIPEs with strong fundamentals such as: (a) strong
management; (b) good business models; and, (c) solid products. VCA typically meets with
corporate management as part of their investment process.
Source: BigDough
Sanjay Ayer, WCM Investment Management
281 Brooks St.
Phone:
Laguna Beach CA, 92651
Fax:
United States
Institution Type:
Market Cap:
Styles:
Average P/E:
Average Yield:
Portfolio Turnover:
+1 949-380-0200
+1 949-380-0819
1.040
Mutual Fund Manager
Small-Cap, Large-Cap
Growth
Medium
High
Medium
Top 10 Holdings
AAPL APPLE INC
EXPE EXPEDIA INC
NVO NOVO-NORDISK AS ADR
YUM YUM BRANDS INC
AMT AMERICAN TOWER CORP CL A
ICE INTERCONTINENTALEXCHANGE INC
CELG CELGENE CORP
EXPD EXPEDITORS INTERNATIONAL (WA)
ADBE ADOBE SYSTEMS INC
USB US BANCORP/DE
WCM Investment manages separate equity small-cap value and large-cap growth
balanced and fixed income portfolios for institutions and high net worth individuals. For
large-cap growth, the firm favors stocks with market capitalization of $3 billion or greater
that are able to sustain growth by building great cultures and great companies. For smallcap value, the firm looks at stocks with market capitalization in the range of $50 million to
$2 billion with strong balance sheets and evidence of improving profitability. On August 31,
2007 Centurion Alliance's Institutional Investment Division was aquired by WCM.
Strategy
The research effort is bottom up with a focus on stocks with good future growth
expectations. A thematic overlay is employed to aid in identifying companies benefiting
from secular economic ""tailwinds."" For its growth portfolios, the firm seeks companies
with: (a) strong business models; (b) outstanding managements and cultures; (c) aboveaverage cash flows and profit margins (low-cost operations); and (d) strong market
positions. For its value portfolios, WCM seeks companies with: (a) quality management;
(b) strong balance sheets; (c) earnings growth potential of at least 10%; (d) growing
dividends; and (e) reasonable price-to-earnings ratios. Investments tend to be held over
the long-term. WCM also invests in fixed income.
Source: BigDough
Gary Kohler, Whitebox Advisors, LLC
3033 Excelsior Blvd., #300
Minneapolis MN, 55416
United States
Phone:
+1 612-253-6001
Fax:
+1 612-253-6151
Institution Type:
Market Cap:
Styles:
Average Yield:
Portfolio Turnover:
2.107
Hedge Fund Manager
Low
High
Very High
Top 10 Holdings
MICROCHIP TECHNOLOGY INC SDCV
CEPHALON INC NOTE
CMS ENERGY CORP NOTE
TWINA SOLAR LIMITED NOTE
INVACARE CORP SDCV
AIRTRAN HLDGS INC NOTE
WEBMD CROP NTCV 175%23
TEREX CORP NEW NOTE
PROTEIN DESIGN LABS NTCV 2.75%23
ANIXTER INTL INC NOTE
Whitebox Advisors, LLC (WA) manages the Whitebox Statistical Arbitrage Fund, L.P.,
Whitebox Statistical Arbitrage Fund, LTD, Whitebox Diversified Convertible Arbitrage
Fund, L.P., Whitebox Diversified Convertible Arbitrage Fund, LTD, Whitebox Hedged High
Yield Fund, L.P., Whitebox Hedged High Yield Fund, LTD, Whitebox Convertible Arbitrage
Fund, L.P., and Whitebox Convertible Arbitrage Fund, LTD hedge funds. The firm invests
primarily in convertible bonds, and to a lesser extent, stocks and fixed income securities.
WA defines small-cap stocks as those with market caps less than $100 million and largecap stocks as those with market caps over $1 billion. WA was founded in 2000. The firm
utilizes the prime brokerage services of Goldman Sachs, Deutsche Bank and Lehman
Brothers. WA previously managed the Whitebox Long/Short Equity Fund and Whitebox
Hedged Hydrocarbon Fund, L.P. The firm prefers to initiate outside contact.
Strategy
The firm uses top down analysis focusing on established industries with: (a) stable market
share; (b) low degrees of brand differentiation; and, (c) long product cycles. WA excludes
industries, such as gold mining, that fit these economic parameters, but have companies
with differing product mixes. The firm then uses bottom up analysis in seeking stocks with:
(a) low price-to-earnings and price-to-sales ratios; (b) historical asset growth; (c) high
dividend yields; and, (d) high gross/net profit margins. WA analyzes pairs of stocks of
companies that are fundamentally similar. The intention is to find pairs of stocks where
nearly all the changing information that would affect one company would equally affect the
other. Deviations from the stable relative valuation are expected to be temporary and
Whitebox sees these as long/short opportunities. The firm conducts in-house analysis.
Source: BigDough
Mike Balkin, William Blair & Company Investment Management
222 W. Adams St.
+1 312-236-1600
Phone:
Chicago, IL, 60606-5205
+1 312-551-4646
Fax:
United States
Institution Type:
Market Cap:
Styles:
Average Yield:
Portfolio Turnover:
26.459
Mutual Fund Manager
Medium
High
Top 10 Holdings
FAST FASTENAL CO
PX PRAXAIR INC
SRCL STERICYCLE INC
IDXX IDEXX LABS INC
AAPL APPLE INC
MCD MCDONALDS CORP
MSFT MICROSOFT CORP
TEVA TEVA PHARMACEUTICAL INDUSTRIES
AMG AFFILIATED MANAGERS GROUP INC
William Blair & Company manages large-cap core, small-cap value, multi-cap growth, nonU.S., and fixed income portfolios for institutions and individuals, as well as the William
Blair family of mutual funds.
Strategy
Overall, the firm uses a bottom up approach and manages diversified portfolios for longterm investing. For its large-cap core portfolios, William Blair uses quantitative screens
and qualitative analysis of macroeconomic developments, stock fundamentals, and market
trends. Core portfolios are benchmarked to the S&P 500 Index. For its small-cap value
portfolios, William Blair screens all U.S. stocks with market caps less than $1.5 billion for:
(a) low price-to-sales ratios; (b) normalized earnings power; (c) high level of cash flow; (d)
significant asset values; and, (e) strong industry positioning. Value stocks are sold or
trimmed if: (a) market cap exceeds $3 billion; (b) position exceeds 6% of portfolio; or, (c)
fundamentals deteriorate. Growth portfolios include separate all-cap, large-cap, small-cap,
and aggressive growth strategies. All growth funds seek U.S. stocks with: (a) consistently
high rates of earnings growth; (b) sound balance sheets; and, (c) quality management. For
value and growth portfolios, the firm may meet with management, suppliers, and
customers. For non-U.S. portfolios, William Blair maintains a working list of 750 growth
stocks from Asia, Europe, and emerging economies with: (a) above-average earnings
growth; (b) consistent market dominance or niche; (c) sound balance sheets; and, (d)
quality management. Stocks are selected based on: (a) competitive leadership; (b)
proprietary product base; or, (c) brand or market franchise with sustainable growth
potential. Non-U.S. stocks are sold if the: (a) position weight has tripled or is greater than
4% of the portfolio; or, (b) fundamentals or valuation have deteriorated. The William Blair
family of six equity mutual funds generally follows the same investment strategies as the
firm's separately managed portfolios and includes all-cap growth, large-cap growth, smallcap growth, small-cap value, large-cap tax-efficient, and international funds. William Blair's
analysts will make stock recommendations to portfolio managers according to their
investment discipline. In addition, the portfolio managers will cover specific sectors.
Supplemental Information The firm is the asset management group of the brokerage and
investment banking firm of the same name. William Blair was founded in 1935 and is
headquartered in Chicago, but also has offices in Hartford, London, New York, San
Francisco, Tokyo, Vaduz, and Zurich. Equity assets are reflective of the firm's 13F.
Source: BigDough
Chris Knapp, William Harris Investors, Inc.
191 N. Wacker Dr., #1500
Phone:
Chicago, IL, 60606
Fax:
United States
Institution Type:
Market Cap:
Styles:
Average P/E:
Average Yield:
Portfolio Turnover:
+1 312-621-0590
+1 312-621-0984
.041
Hedge Fund Manager
Long/Short
Medium
High
Very High
Top 10 Holdings
MEND MICRUS ENDOVASCULAR CORP
ABC AMERISOURCEBERGEN CORP
CMG CHIPOTLE MEXICAN GRILL INC CL A
ICLR ICON PLC ADR
MSFT MICROSOFT CORP
KS KAPSTONE PAPER & PACKAGING
SNMX SENOMYX INC
GENZ GENZYME CORP GENZYME DIV
ISIS ISIS PHARMACEUTICALS INC
AAP ADVANCE AUTO PARTS INC
William Harris Investors (WHI) manages separate micro/small/mid/large-cap equity
portfolios for individuals. The firm defines micro-cap as market caps under $100 million,
small-cap as market caps between $100 million and $750 million, mid-cap as market caps
between $750 million and $2 billion and large-cap as market caps above $2 billion. WHI
invests primarily in undervalued and under-followed stocks that it believes offer strong
earnings and revenue growth potential. The firm also does business under the name
"Pegasus Associates."
Strategy
The firm seeks U.S. stocks with: (a) quality management; (b) high projected return on
equity rates; (c) earnings per share growth; (d) market niche; (e) sound products/services;
and, (f) low valuation multiples. WHI invests in non-U.S. equity through ADRs. The firm's
research effort is bottom up and includes visits with corporate management. WHI receives
outside research from JP Morgan, Morgan Stanley Dean Witter, and other brokerage
houses.
Source: BigDough
Jane Gao, Winstone Capital
Shun Tak Business Centre, 23rd – 25th Floor
246 Zhongshan Road 4, Guangzhou,
510030 PRC
Phone:
+86 (20) 2833-7906
Fax:
+86 (20) 2833-7900
Jane Gao is the co-Portfolio Manager and Head of Research for Winstone Capital.
Winstone Capital is a private pooled fund manager located in Guangzhou, PRC, and is
affiliated with the Winstone Law Group. Winstone invests with an Asia event-driven
approach, focusing on hedged equity long-short investments in A/H/S/ADR/Australianshares, as well as selected credit investments in the China non-performing loan sector.
Winstone specializes in investing in situations of deep legal and regulatory complexity or
structural information inefficiency in Asian markets.
Ms. Gao is a practicing PRC lawyer, currently Partner and Head of Corporate Law
Department of A&L Law Group, a leading Chinese law firm. Ms. Gao holds a masters in
law from Peking University and University of Hong Kong.
Jonathan Guo, Yiheng Capital
555 California St., Suite 5180
San Francisco, CA 94104
United States
Phone:
Institution Type:
Market Cap:
Styles:
Hedge Fund Manager
+1 415-8750-5603
Global long-short equity fund in San Francisco. Focuses/interests include software, ad
services, wireless telecom, business services, Chinese residential property, Chinese
consumers, and base metals/bulk commodities.
Strategy
Firm is a long short fund and evaluates opportunities of all cap sizes.
Company Name
Ticker
Sector
Barrett Business Services Inc.
BBSI
Business Services
China Advanced Construction Materials Group
CADC
Industrials
China
China Electric Motor, Inc.
CELM
Automotive
China
China Green Agriculture, Inc.
CGA
Agricultural Products
China
China Housing and Land Development, Inc.
CHLN
Real Estate
China
China Integrated Energy, Inc.
CBEH
Global Energy & Industrials
China
China Pharma Holdings, Inc.
CPHI
Healthcare
China
China TransInfo Technology Corp.
CTFO
Technology
China
China Valves Technology, Inc.
CVVT
China
China Wind Systems, Inc.
CWS
China
China XD Plastics Company Ltd.
CXDC
Industrials
China
ChinaCast Education Corporation
CAST
Education
China
Clarient, Inc.
CLRT
Medical Technology
Cogo Group, Inc.
COGO
DG FastChannel, Inc.
DGIT
Advertising, Media & Internet
Duoyuan Printing, Inc.
DYP
ECOtality, Inc.
ECTY
Cleantech
Flow International Corp.
FLOW
Industrials
Funtalk China Holdings Limited.
FTLK
Retail & Consumer Products
China
Fushi Copperweld, Inc.
FSIN
Industrials
China
Galaxy Entertainment Group Ltd
0027.HK
Leisure
China
Harbin Electric, Inc.
HRBN
Industrials
China
Heckmann Corporation
HEK
Hollysys Automation Technologies, Ltd
HOLI
China
Home Inns & Hotels Management Inc.
HMIN
Leisure
China
Hypercom Corp.
HYC
Business Services
Internet Capital Group
ICGE
JinkoSolar Holding Co., Ltd.
JKS
Cleantech
China
Jinpan International Ltd.
JST
China
Kingtone Wirelessinfo Solution Holding Ltd.
KONE
Technology
China
KIT digital, Inc.
KITD
Maxwell Technologies, Inc.
MXWL
Cleantech
Natus Medical Inc.
BABY
Medical Technology
Orient Paper Inc.
ONP
OSI Systems, Inc.
OSIS
Industrials
Puda Coal Inc.
PUDA
Industrials
RightNow Technologies Inc.
RNOW
Enterprise Software
China
China
China
China
Company Name
Ticker
Sector
SinoHub, Inc.
SIHI
Technology
China
SOKO Fitness & Spa Group, Inc.
SOKF
Leisure
China
SORL Auto Parts, Inc.
SORL
Automotive
China
Synutra International Inc.
SYUT
Retail & Consumer Products
China
The Ultimate Software Group, Inc.
ULTI
Enterprise Software
TriMas Corporation
TRS
Industrials
U.S. Auto Parts Network, Inc.
PRTS
E-commerce
Wonder Auto Technology, Inc.
WATG
Automotive
China
Yongye International, Inc.
YONG
China
Zoo Entertainment, Inc.
ZOOG
Leisure
Disclosures
Market Data for company profiles as of Market Close on 08/15/2010 or as individually
indicated. The material, information and facts discussed in this conference book other than
the information regarding ROTH Capital Partners, LLC ("ROTH") and its affiliates, are from
sources believed to be reliable but are in no way guaranteed to be complete or accurate.
These Company Specific Profiles should not be used as a complete analysis of the
company, industry or security discussed in these profiles. Profile data source: Bloomberg,
Edgar, Capital IQ and Company filings. Additional information is available upon request.
This is not, however, an offer or solicitation of the securities discussed. Any opinions or
estimates in this conference book are subject to change without notice. An investment in
the stock may involve risks and uncertainties that could cause actual results to differ
materially from the forward-looking statements. Additionally, an investment in the stock
may involve a high degree of risk and may not be suitable for all investors. No part of this
conference book may be reproduced in any form without the express written permission of
ROTH. Copyright 2010. Member: FINRA/SIPC.
BARRETT BUSINESS SERVICES BBSI
Address
8100 NE Parkway Drive,
Suite 200 Vancouver, WA
98662
Exchange: NASDAQ GS
Company Description
Barrett Business Services offers a comprehensive range
of human resource management services to help small
and medium-sized businesses manage the increasing
costs and complexities of a broad array of employmentrelated issues. The company’s principal services,
professional employer organization (“PEO”) services and
staffing services, assist its clients in leveraging
investment in human capital.
Telephone
(360) 828-0700
Industry
Business Services
Website
www.barrettbusiness.com
Aug 09
Sep 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Oct 09
FY 2007A
1,115.8
16.8
1.44
24.2
0.08
3.8
9.1
Nov 09
Dec 09
Jan 10
FY 2008A
1,080.6
6.3
0.56
13.0
0.09
7.1
23.3
Feb 10
Mar 10
FY 2009A
1,019.9
(4.8)
(0.46)
(7.9)
0.09
NA
NA
Auditor
MOSS ADAMS LLP
Legal Counsel
NA
Investor Relations
William W. Sherertz, CEO, [email protected],
(360) 828-0700
ROTH Contact
Jeff Martin, CFA
[email protected]
(949) 720-7184
Apr 10
May 10
Jun 10
Jul 10
Aug 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (5/5/2010)
52wk Low (10/2/2009)
Avg 3M Volume
Market Cap (mm)
Enterprise Value (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
12/2009
USD
8/16/2010
$13.05
$16.00
$10.07
37,140
$133.3
$92.0
10.2
1.39
2.5%
Data provided by Bloomberg and company filings.
CHINA ADVANCED CONST.
CADC
Exchange: NASDAQ GM
Address
Yingu Plaza, 9 Beisihuanxi
Roa Suite 1708, Haidian
District, Beijing, 100080,
China
Company Description
China Advanced Construction Materials Group. produces
construction materials for large-scale commercial,
residential, and infrastructure developments. The
company is focused on ready-mix concrete materials.
Telephone
+86 (10) 8252-5362
Industry
Industrials
Website
www.china-acm.com
Aug 09
Sep 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Oct 09
Nov 09
FY 2007A
21.1
3.9
0.44
4.5
2.64
12.4
8.0
Dec 09
Jan 10
FY 2008A
27.6
5.2
0.56
6.0
2.02
9.3
6.3
Feb 10
Mar 10
FY 2009A
39.7
12.1
0.77
15.8
1.40
3.5
4.6
Auditor
FRAZER FROST LLP
Legal Counsel
PILLSBURY, WINTHROP, SHAW, PITTMAN, LLP
Investor Relations
Kevin Theiss, Garyling, [email protected], (646)
284-9409
ROTH Contact
Kun Tao, CFA
[email protected]
(949) 720-7149
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (10/20/2009)
52wk Low (7/2/2010)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
22.7
18.4
39.7
06/2009
USD
8/16/2010
$3.51
$8.50
$3.10
62,312
$57.6
$55.7
16.4
1.10
0.0%
CHINA ELECTRIC MOTOR
CELM
Exchange: NASDAQ GM
Address
Sunna Motor Industrial Park,
Fuyuan 2nd Road, Fuyong
High and New Technology
Development Zone, Bao An
District, Shenzhen, China
Company Description
China Electric Motor develops and manufactures electric
micro-motors. The company markets its products to
manufacturers of consumer electronics, automobiles,
power tools, toys and household appliances.
Telephone
+86 (755) 8149-9969
Industry
Automotive
Website
www.szmotor.com
Aug 09
Sep 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Oct 09
Nov 09
FY 2007A
28.2
4.6
0.43
5.4
2.17
11.3
11.1
Dec 09
Jan 10
FY 2008A
53.1
8.0
0.75
10.4
1.15
5.9
6.4
Feb 10
FY 2009A
85.4
11.5
0.89
16.2
0.72
3.8
5.4
Auditor
MALONE & BAILEY PLLC
Legal Counsel
HAN KUN LAW OFFICES
Investor Relations
Dexter Fong, Director, [email protected]
ROTH Contact
John Ma, CFA
+86 (21) 6141 5757 x7003
Mar 10
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (4/28/2010)
52wk Low (7/29/2010)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
28.5
17.3
12/2009
USD
8/16/2010
$4.77
$9.88
$4.18
149,824
$99.0
$61.1
20.7
1.83
0.0%
[email protected]
CHINA GREEN AGRICULTURE
CGA
Address
3rd Floor Borough A Block
A, No 181 South Taibai
Road, Xian, Shaanxi
Province, 710065, China
Company Description
China Green Agriculture, through its subsidiaries,
produces and distributes humic acid organic liquid
compound fertilizer. The company markets its products
through wholesalers and retailers of agricultural farm
products nationwide.
Industry
Exchange: New York
Telephone
+86 (29) 8826-6383
Website
www.cgagri.com
Aug 09
Sep 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Oct 09
FY 2007A
15.2
6.9
0.64
8.0
13.71
25.9
16.9
Nov 09
Dec 09
Jan 10
FY 2008A
22.6
7.8
0.53
10.4
9.21
20.0
20.5
Feb 10
FY 2009A
35.2
14.5
0.78
18.7
5.91
11.1
13.9
Auditor
KABANI & CO
Legal Counsel
GUZOV OFSINK, LLC
Investor Relations
Ken Ren, CFO, [email protected]
ROTH Contact
Howard Zhou
+86 (21) 6141-5757 x7004
Mar 10
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (12/3/2009)
52wk Low (7/2/2010)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
60.9
49.7
53.1
06/2009
USD
8/16/2010
$10.84
$18.70
$8.15
420,892
$266.4
$208.1
24.6
2.21
0.0%
[email protected]
CHINA HOUSING AND LAND
CHLN
Exchange: NASDAQ CM
Address
6 Youyi Dong Lu Han Yuan
4 Lou, Xi'An, 710054 China
Company Description
China Housing & Land develops residential apartment
complexes in Xian, China.
Telephone
+86 (29) 8258-2527
Industry
Real Estate
Website
www.chldinc.com
Aug 09
Sep 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Oct 09
Nov 09
FY 2007A
73.9
16.7
0.62
29.3
1.07
2.7
3.6
Dec 09
Jan 10
FY 2008A
26.5
8.9
0.28
(8.0)
2.99
NA
8.1
Feb 10
Mar 10
FY 2009A
86.6
2.5
0.08
11.5
0.91
6.9
28.3
Auditor
MSCM LLP
Legal Counsel
BAKER & MCKENZIE, LLP
Investor Relations
Cangsang Huang, CFO, [email protected], +86 (29)
8258-2648
ROTH Contact
Kun Tao, CFA
[email protected]
(949) 720-7149
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (11/11/2009)
52wk Low (7/7/2010)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
24.0
11.8
13.3
12/2009
USD
8/16/2010
$2.26
$5.30
$1.82
243,968
$74.8
$79.2
33.1
0.82
0.0%
CHINA INTEGRATED ENERGY
CBEH
Exchange: NASDAQ CM
Address
Dongxin Century Square,
7th Floor, Hi- Tech
Development District, Xi’an,
Shaanxi Province, China
Company Description
China Integrated Energy. produces and distributes heavy
oil and finished oil, retails gasoline, and researches,
develops, manufactures and distributes bio-diesel fuel.
Telephone
Industry
Global Energy & Industrials +86 (29) 8288-3921
Website
www.chinaintegratedenergy.com
Aug 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Sep 09
Oct 09
FY 2007A
87.1
8.6
0.21
8.6
2.58
26.0
39.9
Nov 09
Dec 09
Jan 10
FY 2008A
216.5
18.7
0.54
19.9
1.04
11.3
15.5
Feb 10
Mar 10
FY 2009A
289.6
37.9
1.04
38.8
0.77
5.8
8.0
Auditor
SHERB & CO LLP
Legal Counsel
LOEB & LOEB, LLP
Investor Relations
Ted Haberfield, HC Int'l, [email protected]
ROTH Contact
Sean Jiang, CFA
(949) 720-5771
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (4/15/2010)
52wk Low (8/19/2009)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
14.0
12.3
13.4
12/2009
USD
8/16/2010
$8.37
$12.31
$5.57
219,598
$283.1
$224.4
33.8
1.56
0.0%
[email protected]
CHINA PHARMA HOLDINGS
CPHI
Exchange: NYSE Amex
Address
No.17, Jinpan Road,
Haikou, Hainan, 570216,
China
Company Description
China Pharma Holdings, through a subsidiary,
manufactures western and Chinese medicines. The
company markets its products to hospitals and private
sellers in the Peoples Republic of China.
Telephone
+86 (898) 6088-0809
Industry
Healthcare
Website
www.chinapharmaholdings.com
Aug 09
Sep 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Oct 09
Nov 09
FY 2007A
33.2
12.8
0.34
12.7
4.01
10.5
9.1
Dec 09
Jan 10
FY 2008A
51.0
17.8
0.44
20.4
2.61
6.5
7.0
Feb 10
FY 2009A
61.7
20.2
0.48
24.0
2.15
5.5
6.4
Auditor
HANSEN, BARNETT & MAXWELL, P.C
Legal Counsel
KING & WOOD
Investor Relations
Diana Huang, [email protected]
ROTH Contact
Sean Jiang, CFA
(949) 720-5771
Mar 10
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (1/11/2010)
52wk Low (8/17/2009)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
42.3
36.0
38.9
12/2009
USD
8/16/2010
$3.08
$4.32
$1.85
64,935
$133.7
$132.9
43.4
1.30
0.0%
[email protected]
CHINA TRANSINFO
CTFO
Exchange: NASDAQ GM
Address
9th Floor, Vision Building
NO.39 Xueyuanlu Haidian
China
Company Description
China TransInfo Technology provides
Technology solutions and Geography
Systems application services.
Telephone
+86 (10) 5169-1999
Industry
Technology
Information
Information
Website
www.chinatransinfo.com/
Aug 09
Sep 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Oct 09
FY 2007A
11.9
4.4
0.28
4.9
14.61
35.4
25.1
Nov 09
Dec 09
Jan 10
FY 2008A
29.4
11.1
0.53
11.6
5.90
14.9
13.2
Feb 10
Mar 10
FY 2009A
63.7
13.0
0.58
15.0
2.72
11.5
12.1
Auditor
SIMON & EDWARD LLP
Legal Counsel
Investor Relations
Fan Zhou, IR Director, [email protected], +86 (10) 5169-1657
ROTH Contact
Kun Tao, CFA
(949) 720-7149
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (10/12/2009)
52wk Low (7/7/2010)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
36.8
18.3
23.6
12/2009
USD
8/16/2010
$7.02
$17.29
$5.00
167,216
$177.2
$173.3
25.2
2.13
0.0%
[email protected]
CHINA VALVES TECHNOLOGY
CVVT
Exchange: NASDAQ GM
Address
No. 93 West Xinsong Road,
Kaifeng City, Henan
Company Description
China Valves Technology, through its subsidiaries,
develops, manufactures, and markets metal valves for
electricity, petroleum, chemical, water, gas, and metal
industries.
Telephone
Industry
Website
www.cvalve.com
Aug 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Sep 09
Oct 09
FY 2007A
37.0
7.1
0.36
9.2
11.04
44.4
31.5
Nov 09
Dec 09
Jan 10
FY 2008A
66.6
(4.2)
(0.18)
15.3
6.14
26.7
NA
Feb 10
Mar 10
FY 2009A
95.4
23.4
0.75
35.0
4.29
11.7
15.1
Auditor
FRAZER FROST LLP
Legal Counsel
Investor Relations
Ray Chen, VP IR, China Valves, [email protected], (650)
281-8375
ROTH Contact
Mark Tobin
[email protected]
(949) 720-5775
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (3/25/2010)
52wk Low (8/31/2009)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
48.7
32.2
36.7
12/2009
USD
8/16/2010
$11.34
$14.85
$6.10
202,317
$415.5
$408.7
36.6
2.45
0.0%
CHINA WIND SYSTEMS
CWS
Exchange: NASDAQ GM
Address
No.9 Yanyu Middle Road,
Qianzhou Town, Huishan
District, Wuxi City, Jiangsu
Province, China
Company Description
China Wind Systems primarily manufactures precision
forged components for the wind power industry. The
company
also
manufactures
precision
forged
components and industrial machines for other industries.
Telephone
Industry
Website
www.chinawindsystems.com/
Aug 09
Sep 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Oct 09
Nov 09
FY 2007A
24.4
10.3
0.81
6.3
3.48
13.6
6.0
Dec 09
Jan 10
FY 2008A
42.3
3.5
0.03
8.8
2.01
9.7
161.3
Feb 10
Mar 10
FY 2009A
53.5
7.6
0.24
12.6
1.59
6.7
20.2
Auditor
SHERB & CO LLP
Legal Counsel
SICHENZIA, ROSS, FRIEDMAN, FERENCE, LLP
Investor Relations
Crocker Coulson, CCG IR, [email protected]
ROTH Contact
Mark Tobin
(949) 720-5775
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (1/11/2010)
52wk Low (5/7/2010)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
26.0
20.8
23.6
12/2009
USD
8/16/2010
$4.84
$8.20
$3.28
105,590
$86.4
$85.0
17.9
1.63
0.0%
[email protected]
CHINA XD PLASTICS COMPANY CXDC
Address
9 Qin Ling Road, Harbin,
150078, China
Exchange: NASDAQ GM
Company Description
China XD Plastics develops, manufactures, and
distributes modified plastics primarily for use in
automotive applications such as exterior and interior
parts. The company’s specialized plastics are utilized in
more than 30 automobile brands manufactured in China,
including Audi, Red Flag, Volkswagen and Mazda.
Telephone
+86 (451) 8434-6600
Industry
Industrials
Website
www.chinaxd.net
Aug 09
Sep 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Oct 09
FY 2007A
34.2
5.3
0.14
5.9
8.30
48.1
45.1
Nov 09
Dec 09
Jan 10
FY 2008A
75.8
8.2
26.06
10.0
3.75
28.4
0.2
Feb 10
Mar 10
FY 2009A
135.7
4.0
(0.36)
19.6
2.09
14.4
NA
Auditor
FRIEDMAN LLP
Legal Counsel
CRONE ROZYNKO, LLP
Investor Relations
ROTH Contact
John Ma, CFA
+86 (21) 6141 5757 x7003
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (11/16/2009)
52wk Low (5/6/2010)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
23.7
7.6
14.5
12/2009
USD
8/16/2010
$6.31
$15.00
$5.11
42,832
$278.9
$283.8
44.2
3.79
0.0%
[email protected]
CHINACAST EDUCATION CORP. CAST
Address
Unit 1002, Golden Tower
B2, No. 82
Dongshihuanzhong Rd,
Chaoyang, Beijing 100123,
China
Exchange: NASDAQ GS
Company Description
ChinaCast is a for-profit, post-secondary education and eLearning services provider in China. The company offers
post-secondary degree and diploma programs through its
private universities in China. It also provides e-Learning
services to post-secondary institutions, K-12 schools,
government agencies and corporate enterprises via its
nationwide satellite/fiber broadband network.
Telephone
+86 (21) 6864-4666
Industry
Education
Website
www.chinacasteducation.com
Aug 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Sep 09
Oct 09
FY 2007A
24.7
7.7
0.28
8.4
7.84
23.1
22.5
Nov 09
Dec 09
Jan 10
FY 2008A
40.7
6.1
0.20
17.8
4.76
10.9
31.1
Feb 10
Mar 10
FY 2009A
50.7
13.5
0.36
26.8
3.82
7.2
17.1
Auditor
DELOITTE TOUCHE TOHMATSU
Legal Counsel
LOEB & LOEB, LLP
Investor Relations
Michael Santos, Intl President,
[email protected]
ROTH Contact
Howard Zhou
[email protected]
+86 (21) 6141-5757 x7004
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (10/15/2009)
52wk Low (7/7/2010)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
54.5
36.9
52.8
12/2009
USD
8/16/2010
$6.22
$8.61
$5.50
392,495
$309.6
$193.6
49.8
1.19
0.0%
CLARIENT
CLRT
Exchange: NASDAQ CM
Address
31 Columbia
Aliso Viejo, CA 92656
Company Description
Clarient provides technologies, services, and support for
the characterization, assessment, and treatment of
cancer. The company provides laboratory services
ranging from in-house pathology testing using its
proprietary imaging system and other diagnostic
technologies to the development of tools for academic
and biopharmaceutical company researchers.
Telephone
(949) 425-5700
Industry
Medical Technology
Website
www.clarientinc.com
Aug 09
Sep 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Oct 09
Nov 09
FY 2007A
43.0
(8.8)
(0.12)
(8.0)
7.41
NA
NA
Dec 09
Jan 10
FY 2008A
73.7
(9.6)
(0.13)
1.8
4.32
178.4
NA
Feb 10
Mar 10
FY 2009A
91.6
(6.1)
(0.13)
0.7
3.48
438.0
NA
Auditor
DELOITTE & TOUCHE LLP
Legal Counsel
Investor Relations
Matt Clawson, Allen & Caron IR, [email protected],
(949) 474-4300
ROTH Contact
Matthew Dolan
[email protected]
(949) 720-5796
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (9/22/2009)
52wk Low (3/1/2010)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
56.4
0.8
12/2009
USD
8/16/2010
$3.28
$4.43
$1.88
378,254
$287.8
$318.4
87.7
22.48
0.0%
COGO GROUP
COGO
Exchange: NASDAQ GS
Address
Room 1001, Tower C,
Skyworth Building, HighTech Industrial Park
Nanshan, Shenzhen,
Guangdong Province,
518057, China
Company Description
Cogo Group provides design solutions to telecom
equipment, mobile device, and consumer electronics
manufacturers in China.
Telephone
Industry
Website
www.cogo.com.cn
Aug 09
Sep 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Oct 09
Nov 09
FY 2007A
228.5
20.9
0.55
22.6
0.84
8.5
12.0
Dec 09
Jan 10
FY 2008A
287.2
14.1
0.36
21.1
0.67
9.1
18.3
Feb 10
FY 2009A
307.1
11.8
0.32
15.7
0.63
12.2
20.6
Auditor
KPMG
Legal Counsel
SKADDEN, ARPS, SLATE, MEAGHER & FLOM
Investor Relations
Wanyee Ho, IR Dir., [email protected]
ROTH Contact
Mark Tobin
(949) 720-5775
Mar 10
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (4/26/2010)
52wk Low (9/1/2009)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
14.3
4.3
5.1
12/2009
USD
8/16/2010
$6.60
$7.99
$5.20
234,753
$267.6
$192.4
40.6
1.00
0.0%
[email protected]
DG FASTCHANNEL
DGIT
Exchange: NASDAQ GS
Address
750 W John Carpenter Fwy
Suite 700
Irving, TX 75039
Company Description
DG Fastchannel operates a nationwide network that
delivers audio, video, image, and data content from
advertisers and advertising agencies to TV/radio stations,
cable networks and web publishers across the United
States and Canada.
Telephone
Industry
Advertising, Media & Internet (972) 581-2000
Website
www.dgfastchannel.com
Aug 09
Sep 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Oct 09
FY 2007A
97.7
10.4
0.61
31.9
8.60
26.3
53.0
Nov 09
Dec 09
Jan 10
FY 2008A
157.1
15.1
0.79
59.1
5.35
14.2
40.9
Feb 10
FY 2009A
190.9
20.5
0.88
73.8
4.40
11.4
36.7
Auditor
ERNST & YOUNG LLP
Legal Counsel
Investor Relations
Omar Choucair, CFO, [email protected]
ROTH Contact
Richard Ingrassia
(949) 720-7161
Mar 10
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (6/3/2010)
52wk Low (9/2/2009)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
67.3
30.4
38.7
12/2009
USD
8/16/2010
$32.33
$44.19
$16.39
613,897
$919.6
$839.9
28.4
1.90
0.0%
[email protected]
DUOYUAN PRINTING
DYP
Address
No 3 Jinyuan Road, Daxing
District Industrial
Development Zone, Beijing,
Beijing Province, 102600,
China
Company Description
Duoyuan Printing supplies printing equipment in China.
The company designs, manufactures and sells offset
printing equipment used in the offset printing process.
Telephone
Industry
Exchange: New York
Website
www.duoyuan.com
Nov 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Dec 09
Jan 10
FY 2007A
67.8
14.0
0.70
20.0
2.51
8.5
11.4
Feb 10
Mar 10
FY 2008A
89.6
26.5
1.06
32.6
1.90
5.2
7.6
Apr 10
FY 2009A
106.6
32.6
1.30
43.2
1.60
3.9
6.2
Auditor
FRAZER FROST LLP
Legal Counsel
HOGAN & HARTSON
Investor Relations
William Suh, [email protected], +86 (10) 6021-2222
ROTH Contact
Mark Tobin
(949) 720-5775
May 10
Jun 10
Jul 10
Aug 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (1/11/2010)
52wk Low (12/4/2009)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
52.5
33.7
40.5
06/2009
USD
8/16/2010
$8.01
$11.23
$6.61
147,194
$244.8
$170.2
30.6
1.22
0.0%
[email protected]
ECOTALITY
ECTY
Exchange: NASDAQ CM
Address
4 Embarcadero Center,
Suite 3720, San Francisco,
CA 94111
Company Description
ECOtality is an innovator of electric vehicle charging
solutions. The company is working on the U.S.
Department of Energy's EV Project to build out charge
systems. Through innovation, acquisitions, and strategic
partnerships, ECOtality accelerates the market
applicability of advanced electric technologies to replace
carbon-based fuels.
Telephone
(480) 219-5005
Industry
Cleantech
Website
www.ecotality.com
Aug 09
Sep 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Oct 09
FY 2007A
2.6
(13.7)
(7.20)
(5.9)
20.67
NA
NA
Nov 09
Dec 09
Jan 10
FY 2008A
11.2
(8.1)
(3.60)
(3.2)
4.78
NA
NA
Feb 10
Mar 10
FY 2009A
8.6
(29.5)
(8.16)
(13.2)
6.22
NA
NA
Auditor
WEAVER & MARTIN LLP
Legal Counsel
NA
Investor Relations
Thomas Walsh, Alliance Advisors,
[email protected], (212) 398-3486
ROTH Contact
[email protected]
Brian Kremer
(949) 720-5726
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (8/17/2009)
52wk Low (8/16/2010)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
27.3
12/2009
USD
8/16/2010
$3.20
$15.30
$3.14
39,113
$68.4
$53.5
17.5
1.41
0.0%
FLOW INTERNATIONAL CORP.
FLOW
Exchange: NASDAQ GM
Address
23500 64th Avenue South,
Kent, WA 98032
Company Description
Flow International designs, develops, manufactures,
markets, and services ultrahigh-pressure waterjet cutting
and cleaning systems, specialized robotics systems, and
food safety applications. The company’s waterjet
systems are used to cut both metallic and nonmetallic
materials in many industry segments, including the
aerospace, automotive, food, and paper industries.
Telephone
(253) 850-3500
Industry
Industrials
Website
www.flowwaterjet.com
Aug 09
Sep 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Oct 09
Nov 09
FY 2008A
244.3
22.4
0.59
20.8
0.40
4.7
3.7
Dec 09
Jan 10
FY 2009A
210.1
(23.8)
(0.63)
(15.6)
0.46
NA
NA
Feb 10
Mar 10
FY 2010A
173.7
(8.5)
(0.19)
(1.4)
0.56
NA
NA
Auditor
Legal Counsel
NA
Investor Relations
Geoffrey Buscher, IR, [email protected], (253) 8133286
ROTH Contact
Richard W. Hoss
[email protected]
(949) 720-5778
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (1/19/2010)
52wk Low (8/17/2009)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
39.0
1.7
04/2010
USD
8/16/2010
$2.19
$4.08
$2.01
183,718
$102.9
$97.0
47.0
1.36
0.0%
FUNTALK CHINA HOLDINGS
FTLK
Exchange: NASDAQ GM
Address
South 3/F, Chang’An
XingRong Center No. 1
NaoShiKou Street, XiCheng
China
Company Description
Funtalk China Holdings retails and distributes wireless
communications devices, accessories, and content in
China, through retail stores, wholesales, and ecommerce.
Telephone
Industry
Retail & Consumer Products +86 (10) 5832-5957
Website
http://funtalk.investorroom.com/
Aug 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Sep 09
Oct 09
Nov 09
FY 2008A
378.3
30.2
0.85
37.7
1.38
13.9
9.5
Dec 09
Jan 10
FY 2009A
570.7
21.8
0.45
33.8
0.92
15.5
17.9
Feb 10
Mar 10
FY 2010A
854.1
31.8
0.64
65.1
0.61
8.0
12.6
Auditor
WEISER LLP
Legal Counsel
LATHAM & WATKINS, LLP
Investor Relations
Jackie K.C. Leong, CFO, [email protected], +86 (10)
5852-8032
ROTH Contact
Kun Tao, CFA
[email protected]
(949) 720-7149
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (11/30/2009)
52wk Low (8/26/2009)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
15.1
7.5
7.8
03/2010
USD
8/16/2010
$8.04
$9.50
$2.00
120,712
$418.8
$523.6
52.1
2.46
0.0%
FUSHI COPPERWELD
FSIN
Exchange: NASDAQ GS
Address
1 Shuang Qiang Street, Jin
Zhou Industrial Park, Dalian,
116100, China
Company Description
Fushi Copperweld manufactures copper-clad bimetallic
engineered conductor products. Its major products are
copper-clad aluminum and steel wires used for electrical,
telecommunications, transportation, utilities and industrial
applications.
Telephone
+86 (411) 8778-7555
Industry
Industrials
Website
www.fushicopperweld.com
Aug 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Sep 09
Oct 09
FY 2007A
128.2
29.5
1.19
33.3
1.77
6.8
6.7
Nov 09
Dec 09
Jan 10
FY 2008A
221.4
28.5
1.00
44.0
1.03
5.2
8.0
Auditor
FRAZER FROST LLP
Legal Counsel
LOEB & LOEB, LLP
Investor Relations
Nathan Anderson, IR Director,
[email protected]
ROTH Contact
John Ma, CFA
[email protected]
+86 (21) 6141 5757 x7003
Feb 10
Mar 10
FY 2009A
182.9
24.0
0.84
47.1
1.24
4.8
9.5
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (4/9/2010)
52wk Low (11/2/2009)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
30.6
21.9
25.8
12/2009
USD
8/16/2010
$7.98
$12.94
$6.50
312,595
$301.0
$227.4
37.7
0.90
0.0%
Exchange: Hong Kong
GALAXY ENTERTAINMENT GRP 0027.HK
Address
1606, 16/F Hutchison
House 10 Harcourt Road,
Central, Hong Kong
Company Description
Galaxy Entertainment Group, through its subsidiary,
Galaxy Casino, S.A., holds a Macau gaming concession.
GEG is authorized to carry out casino games of chance
in Macau. The Group owns and operates StarWorld
Hotel & Casino, and operates four CityClub Casinos in
Macau. The Group has under construction “Galaxy
Macau™”, a fully-integrated resort, entertainment and
gaming destination.
Telephone
+852 3150-1111
Industry
Leisure
Website
www.galaxyentertainment.com
Aug 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Sep 09
Oct 09
FY 2007A
13,035.4
(466.2)
(0.14)
1,221.0
1.83
19.6
NA
Nov 09
Dec 09
Jan 10
FY 2008A
10,496.7
(11,390.4)
(2.89)
544.0
2.27
43.9
NA
Feb 10
Mar 10
FY 2009A
12,232.7
1,149.1
0.29
1,119.0
1.95
21.3
18.6
Auditor
PRICEWATERHOUSECOOPERS LLP
Legal Counsel
SKADDEN, ARPS, SLATE, MEAGHER & FLOM
Investor Relations
Peter Caveny, VP IR, [email protected], +852
3150-1111
ROTH Contact
Adam Krejcik
[email protected]
(949) 720-7187
Apr 10
May 10
Jun 10
Jul 10
Aug 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (8/3/2010)
52wk Low (8/18/2009)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
95.2
3.0
7.4
12/2009
HKD
8/16/2010
HKD 5.40
HKD 5.88
HKD 1.88
7,281,801
HKD 21,303.6
HKD 23,874.0
3945.1
2.61
0.0%
HARBIN ELECTRIC
HRBN
Exchange: NASDAQ GS
Address
9 Ha Ping Xi Lu, Ha Ping Lu
Ji Zhong Qu, Harbin Kai Fa
Qu, Harbin, 150060, China
Company Description
Harbin Electric designs, develops, and manufactures
industrial rotary motors, linear motors, and specialty
micro-motors. It builds customized linear motors for a
variety of applications and industries. The company
provides products and systems to end users throughout
China, as well as other industrial original equipment
manufacturers overseas.
Telephone
+86 (451) 8611-6789
Industry
Industrials
Website
www.harbinelectric.com
Aug 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Sep 09
Oct 09
FY 2007A
65.4
16.9
0.91
24.8
8.52
22.5
18.8
Nov 09
Dec 09
Jan 10
FY 2008A
120.8
25.4
1.19
37.0
4.61
15.0
14.3
Feb 10
Mar 10
FY 2009A
223.2
19.6
0.77
60.6
2.50
9.2
22.2
Auditor
FRAZER FROST LLP
Legal Counsel
LOEB & LOEB, LLP
Investor Relations
Christy Shue, EVP Finance, [email protected]
ROTH Contact
John Ma, CFA
+86 (21) 6141 5757 x7003
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (3/10/2010)
52wk Low (9/1/2009)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
33.9
26.0
27.1
12/2009
USD
8/16/2010
$17.07
$26.00
$12.11
434,276
$530.3
$557.0
31.1
1.43
0.0%
[email protected]
HECKMANN CORPORATION
HEK
Exchange: New York
Address
75080 Frank Sinatra Drive,
Palm Desert, CA 92211
Company Description
Heckmann Corporation is an investment holding
company, operating in the water industry. The company,
through its subsidiaries, provides water treatment and
disposal services, operate bottling facilities, and transport
water through pipelines.
Telephone
Industry
Global Energy & Industrials (760) 341-3606
Website
www.heckmanncorp.com
Aug 09
Sep 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Oct 09
Nov 09
FY 2007A
NA
NA
NA
Dec 09
Jan 10
FY 2008A
NA
NA
NA
Feb 10
Mar 10
FY 2009A
36.0
(2.7)
(0.02)
(2.4)
7.87
NA
NA
Auditor
GHP HORWATH PC
Legal Counsel
DLA PIPER
Investor Relations
Kristen McNally, The Picacente Group, [email protected], (212) 481-2050
ROTH Contact
Mark Tobin
[email protected]
(949) 720-5775
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (2/22/2010)
52wk Low (8/17/2009)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
24.2
12/2009
USD
8/16/2010
$4.26
$6.48
$3.68
803,756
$463.9
$283.0
108.9
1.54
0.0%
HOLLYSYS AUTOMATION
HOLI
Exchange: NASDAQ GS
Address
10 Jiancaicheng Middle
Road, Xisanqi Haidian
District, Beijing, Beijing
Company Description
Hollysys Automation manufactures automation and
control systems. The company produces process,
industrial, rail and subway, and nuclear power plant
automation equipment.
Telephone
Industry
Website
www.hollysys.com
Aug 09
Sep 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Oct 09
Nov 09
FY 2008A*
121.5
(1.2)
(0.03)
27.2
3.89
17.4
NA
Dec 09
Jan 10
FY 2009A*
157.5
(13.9)
(0.31)
(5.1)
3.00
NA
NA
Feb 10
Mar 10
FY 2010A
174.1
30.2
0.59
35.9
2.72
13.2
17.0
Apr 10
May 10
Jun 10
Jul 10
Aug 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
34.6
18.7
20.2
06/2010
USD
* FY08: Includes $20.5 million in stock based compensation and amortization of discount on bridge loan. FY09: Includes
$39.4 million in stock based compensation.
Auditor
BDO LIMITED
Legal Counsel
Investor Relations
Jennifer Zhang, IR, [email protected], +86 (10)
5898-1386
ROTH Contact
Mark Tobin
[email protected]
(949) 720-5775
Issue Data
Last Price
52wk High (11/24/2009)
52wk Low (8/20/2009)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
8/16/2010
$10.04
$13.48
$5.53
193,030
$545.7
$472.7
54.4
2.52
0.0%
HOME INNS & HOTELS MGMT
HMIN
Exchange: NASDAQ GS
Address
No.124 Cao Bao Road, Xu
Hui District, Shanghai
200235, China
Company Description
Home Inns is the largest economy hotel chain in China in
terms of the number of hotels and hotel rooms as well as
geographic coverage. The company aims to serve the
fast growing population of value-conscious, individual
business and leisure travelers. As of 1Q10, the company
operated 390 leased-and-operated hotels and 248
franchised-and-managed hotels.
Telephone
+86 (21) 3401-9898
Industry
Leisure
Website
www.homeinns.com
Aug 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Sep 09
Oct 09
Nov 09
FY 2007A
949.0
35.8
0.93
NA
NA
NA
Dec 09
Jan 10
FY 2008A
1,759.7
101.2
2.59
281.8
NA
NA
NA
Feb 10
Mar 10
FY 2009A
2,441.7
256.0
4.69
528.2
NA
NA
NA
Auditor
PRICEWATERHOUSE COOPERS
Legal Counsel
LATHAM & WATKINS, LLP
Investor Relations
Ethan Ruan, IR Manager, [email protected],+86
(21) 3401-9898
ROTH Contact
Adam Krejcik
[email protected]
(949) 720-7187
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Aug 10
63.7
15.6
21.6
Reporting
Last FYE
12/2009
Data in USD, Financials in CNY
Issue Data
Last Price
52wk High (8/9/2010)
52wk Low (8/17/2009)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
8/16/2010
$44.32
$44.71
$23.41
387,935
$1,779.5
$1,664.0
40.2
9.76
0.0%
HYPERCOM CORPORATION
HYC
Exchange: New York
Address
8888 East Raintree Drive,
Suite 300 Scottsdale, AZ
85260
Company Description
Hypercom provides electronic payment solutions. The
company’s solutions include card payment systems,
peripherals, network products, software, and ecommerce payment solutions.
Telephone
(480) 642-5000
Industry
Business Services
Website
www.hypercom.com
Aug 09
Sep 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Oct 09
Nov 09
FY 2007A
289.5
(7.5)
(0.14)
(5.5)
0.68
NA
NA
Dec 09
Jan 10
FY 2008A
434.2
(85.4)
(1.60)
9.7
0.46
20.3
NA
Feb 10
Mar 10
FY 2009A
406.9
(6.9)
(0.13)
22.3
0.49
8.8
NA
Auditor
ERNST & YOUNG LLP
Legal Counsel
Investor Relations
Scott M. Tsujita, SVP & IR, [email protected],
(480) 642-5161
ROTH Contact
Jeff Martin, CFA
[email protected]
(949) 720-7184
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (6/3/2010)
52wk Low (8/17/2009)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
33.1
2.8
5.5
12/2009
USD
8/16/2010
$3.19
$5.19
$2.37
442,797
$176.2
$197.6
55.2
2.27
0.0%
INTERNET CAPITAL GROUP
ICGE
Exchange: NASDAQ GM
Address
690 Lee Road, Suite 310,
Wayne, PA 19087
Company Description
Internet Capital Group is an Internet holding company
primarily involved in managing and operating a network
of business-to-business e-commerce companies.
Telephone
Industry
Advertising, Media & Internet (610) 727-6900
Website
www.internetcapital.com
Aug 09
Sep 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Oct 09
FY 2007A
52.9
(30.6)
(0.81)
(24.0)
4.31
NA
NA
Nov 09
Dec 09
Jan 10
FY 2008A
71.2
(22.9)
(0.60)
(19.7)
3.20
NA
NA
Feb 10
FY 2009A
90.3
15.5
0.42
(8.5)
2.53
NA
19.1
Auditor
KPMG
Legal Counsel
Investor Relations
Karen Greene, [email protected]
ROTH Contact
Jared Schramm
(949) 720-7125
Mar 10
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (4/15/2010)
52wk Low (12/18/2009)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
36.2
12/2009
USD
8/16/2010
$8.01
$11.11
$5.76
185,867
$291.9
$227.9
36.4
1.23
0.0%
[email protected]
JINKOSOLAR HOLDING CO.
JKS
Address
12F, East Hope Plaza,
No.1777 Century Avenue,
Shanghai, China
Company Description
JinkoSolar Holdings manufactures solar products. The
company has built a vertically integrated solar product
value chain from recovered silicon materials to solar
modules and has an aggregate of more than 440
customers.
Telephone
+86 (21) 3126-8766
Industry
Cleantech
Exchange: New York
Website
www.jinkosolar.com
May 10
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Jun 10
FY 2007A
93.3
10.0
10.2
5.92
54.4
NA
FY 2008A
314.3
31.5
41.3
1.76
13.4
NA
Jul 10
FY 2009A
229.5
12.5
24.7
2.41
22.4
NA
Auditor
PRICEWATERHOUSECOOPERS ZHONG TIAN
Legal Counsel
BAKER & MCKENZIE, LLP
Investor Relations
Yvonne Young, IR Manager,
[email protected], +86 (21) 6106-4018
ROTH Contact
[email protected]
Brian Kremer
(949) 720-5726
Aug 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (8/10/2010)
52wk Low (5/20/2010)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
14.7
7.8
10.8
12/2009
USD
8/16/2010
$19.50
$20.70
$8.23
140,206
$423.8
$552.4
21.7
4.24
0.0%
JINPAN INTERNATIONAL LTD.
JST
Exchange: NASDAQ GS
Address
No 100 Industry Avenue
Jinpan Development Area,
Haikou, Hainan Province,
570216, China
Company Description
Jinpan International designs and manufactures cast resin
transformers for voltage distribution equipment. The
company markets its products under the JST trademark.
Telephone
Industry
Website
www.jstusa.net/
Aug 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Sep 09
Oct 09
FY 2007A
119.6
16.4
1.02
20.2
1.47
8.7
11.2
Nov 09
Dec 09
Jan 10
FY 2008A
154.0
19.8
1.22
24.3
1.14
7.2
9.4
Feb 10
Mar 10
FY 2009A
158.9
29.0
1.78
34.9
1.11
5.0
6.4
Auditor
GRANT THORNTON
Legal Counsel
WHITE & CASE, L.L.P.
Investor Relations
Albert Sheng, VP IR, [email protected], (210) 460-8778
x135
ROTH Contact
Mark Tobin
[email protected]
(949) 720-5775
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (1/6/2010)
52wk Low (7/16/2010)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
42.0
14.7
22.0
12/2009
USD
8/16/2010
$11.41
$26.44
$10.08
118,992
$187.4
$175.6
16.4
1.35
1.2%
KINGTONE WIRELESSINFO
KONE
Address
3rd Floor, Borough A, Block
A. No.181, South Taibai
Road, Shaanxi, 710065,
China
Company Description
Kingtone Wirelessinfo is a software and solutions
developer of mobile enterprise solutions for industries,
businesses and government agencies.
Telephone
+86 (29) 8823-1591
Industry
Technology
Exchange: NASDAQ CM
Website
www.kingtone.cn
May 10
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Jun 10
FY 2007A
4.0
(0.5)
(0.05)
5.30
NA
NA
FY 2008A
4.3
1.0
0.10
2.1
4.95
10.3
24.1
Jul 10
FY 2009A
11.2
5.3
0.53
6.4
1.89
3.3
4.5
Auditor
BERNSTEIN & PINCHUK LLP
Legal Counsel
HARNEY, WESTWOOD & RIEGELS
Investor Relations
Ying Yang, CFO, [email protected], (626) 6232575
ROTH Contact
Kun Tao, CFA
[email protected]
(949) 720-7149
Aug 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (5/14/2010)
52wk Low (8/12/2010)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
65.4
56.2
57.4
11/2009
USD
8/16/2010
$2.41
$4.15
$2.16
53,207
$33.7
$21.2
14.0
1.16
0.0%
KIT DIGITAL
KITD
Exchange: NASDAQ GM
Address
Slezská 113, 130 00 Prague
3, Czech Republic
Company Description
KIT Digital is a global provider of on-demand, Internet
Protocol (IP)-based video asset management solutions.
The company’s end-to-end software platform enables
clients to acquire, manage and distribute video assets to
PCs, TVs and handsets.
Telephone
Industry
Advertising, Media & Internet +420 (2) 7174-2111
Website
www.kit-digital.com
Aug 09
Sep 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Oct 09
FY 2007A
13.9
(34.6)
(34.65)
(27.3)
10.89
NA
NA
Nov 09
Dec 09
Jan 10
FY 2008A
23.4
(19.0)
(7.70)
(12.5)
6.48
NA
NA
Feb 10
FY 2009A
47.3
(19.9)
(3.03)
0.6
3.21
241.1
NA
Auditor
GRANT THORNTON LLP
Legal Counsel
Investor Relations
Matt Glover, Liolios Group, [email protected]
ROTH Contact
Richard Ingrassia
(949) 720-7161
Mar 10
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (4/29/2010)
52wk Low (8/17/2009)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
61.2
1.3
12/2009
USD
8/16/2010
$9.08
$15.19
$7.00
291,796
$210.9
$151.7
23.2
1.42
0.0%
[email protected]
MAXWELL TECHNOLOGIES
MXWL
Exchange: NASDAQ GM
Address
9244 Balboa Avenue, San
Diego, CA 92123
Company Description
Maxwell develops, manufactures and markets energy
storage and power delivery solutions. Products include
BOOSTCAP® ultracapacitor cells and modules for
applications in consumer and industrial electronics,
transportation and telecommunications; CONDIS® highvoltage grading and coupling capacitors used in electric
utility
infrastructure;
and,
radiation-mitigated
microelectronic products for aerospace applications.
Telephone
(858) 503-3300
Industry
Cleantech
Website
www.maxwell.com
Aug 09
Sep 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Oct 09
Nov 09
FY 2007A
57.4
(15.7)
(0.86)
(11.4)
5.65
NA
NA
Dec 09
Jan 10
FY 2008A
80.4
(14.8)
(0.71)
(7.9)
4.03
NA
NA
Feb 10
Mar 10
FY 2009A
101.3
(22.9)
(0.94)
(8.2)
3.20
NA
NA
Auditor
MCGLADREY & PULLEN, LLP
Legal Counsel
Investor Relations
Mike Sund, VP Comm. & IR, [email protected], (858)
503-3233
ROTH Contact
[email protected]
Brian Kremer
(949) 720-5726
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (10/19/2009)
52wk Low (7/20/2010)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
37.5
12/2009
USD
8/16/2010
$12.78
$21.81
$10.16
172,134
$338.1
$324.0
26.5
4.40
0.0%
NATUS MEDICAL
BABY
Exchange: NASDAQ GS
Address
1501 Industrial Road
San Carlos, CA 94070
Company Description
Natus Medical is a medical device company that
develops, manufactures, and markets screening
products. The company’s products identify and monitor
common medical disorders that may occur between
conception to a baby’s first birthday. Natus is selling its
ALGO products for newborn hearing screening, as a
suite of neurology devices.
Telephone
(650) 802-0400
Industry
Medical Technology
Website
www.natus.com
Aug 09
Sep 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Oct 09
Nov 09
FY 2007A
118.4
9.8
0.43
21.2
2.84
15.9
30.3
Dec 09
Jan 10
FY 2008A
161.8
17.5
0.66
32.2
2.08
10.4
19.7
Feb 10
Mar 10
FY 2009A
166.5
11.1
0.39
22.7
2.02
14.8
33.4
Auditor
Legal Counsel
Investor Relations
Steven J. Murphy, CFO, [email protected],
(650) 802-0400
ROTH Contact
Matthew Dolan
[email protected]
(949) 720-5796
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (5/13/2010)
52wk Low (8/16/2010)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
59.4
7.4
13.6
12/2009
USD
8/16/2010
$13.01
$18.09
$12.58
201,300
$375.5
$336.6
28.9
1.51
0.0%
ORIENT PAPER
ONP
Exchange: NYSE Amex
Address
Nansan Gongli, Nanhuan
Rd, Xushui County, Hebei
Company Description
Orient Paper manufactures paper and paper products in
the People's Republic of China. The company produces
copy, uncoated and coated, digital photo, corrugated,
plastic, craft, graphic design, anti-fraud thermal security,
and other papers.
Telephone
Industry
Website
www.orientalpapercorporation.com
Aug 09
Sep 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Oct 09
FY 2007A
39.7
4.1
0.40
9.3
2.30
9.8
11.8
Nov 09
Dec 09
Jan 10
FY 2008A
65.2
8.8
0.80
16.1
1.40
5.7
5.9
Feb 10
Mar 10
FY 2009A
102.1
12.7
1.04
21.5
0.89
4.2
4.5
Auditor
BDO LIMITED
Legal Counsel
Investor Relations
ROTH Contact
Mark Tobin
(949) 720-5775
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (1/13/2010)
52wk Low (8/31/2009)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
19.4
17.4
21.1
12/2009
USD
8/16/2010
$4.70
$15.15
$2.76
585,166
$86.2
$91.3
18.3
1.18
0.0%
[email protected]
OSI SYSTEMS
OSIS
Exchange: NASDAQ GM
Address
12525 Chadron Avenue,
Hawthorne, CA 90250
Company Description
OSI Systems produces medical monitoring and
anesthesia systems, security and inspection systems,
and lasers, optics, and optoelectronic components. The
company’s products include blood pressure monitors,
anesthesia machines and hemoglobin saturation
monitors, systems for inspecting baggage, people, and
vehicles, and lasers, lenses, prisms, and microelectronic
components.
Telephone
(310) 978-0516
Industry
Industrials
Website
www.osi-systems.com
#N/A
Requesting
Data...
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
9/29/2009
11/10/2009
FY 2007A
532.3
(18.8)
(1.12)
1.7
0.93
285.4
NA
12/23/2009
FY 2008A
623.1
13.9
0.78
43.0
0.80
11.6
35.5
2/8/2010
3/23/2010
FY 2009A
590.4
11.2
0.63
44.5
0.84
11.2
43.9
Auditor
MOSS ADAMS LLP
Legal Counsel
Investor Relations
Jeremy Norton, VP IR, [email protected], (310)
349-2372
ROTH Contact
Richard W. Hoss
[email protected]
(949) 720-5778
5/5/2010
6/17/2010
7/30/2010
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (1/11/2010)
52wk Low (9/8/2009)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
35.4
5.8
7.5
06/2009
USD
8/16/2010
$27.67
$32.58
$16.31
209,912
$504.9
$496.6
18.2
1.65
0.0%
PUDA COAL
PUDA
Exchange: NYSE Amex
Address
426 Xuefu Street, Taiyuan,
Shanxi Province, China
Company Description
Puda Coal supplies premium high grade metallurgical
coking coal used to produce coke for steel manufacturing
in China. The company has recently moved upstream
into coal mining in Shanxi Province.
Telephone
+86 (351) 228-1303
Industry
Industrials
Website
www.pudacoalinc.com
Aug 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Sep 09
Oct 09
Nov 09
FY 2007A
165.3
10.9
0.77
24.7
0.90
6.0
12.2
Dec 09
Jan 10
FY 2008A
242.3
17.1
1.12
26.6
0.62
5.6
8.4
Feb 10
FY 2009A
214.1
5.5
0.36
16.2
0.70
9.2
26.2
Auditor
MOORE STEPHENS,P.C
Legal Counsel
GOODWIN PROCTOR, LLP
Investor Relations
Laby Wu, [email protected]
ROTH Contact
Sean Jiang, CFA
(949) 720-5771
Mar 10
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (4/7/2010)
52wk Low (8/20/2009)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
10.9
9.1
7.6
12/2009
USD
8/16/2010
$9.42
$11.90
$3.70
198,260
$191.1
$149.2
20.3
1.71
0.0%
[email protected]
RIGHTNOW TECHNOLOGIES
RNOW
Exchange: NASDAQ GM
Address
136 Enterprise Boulevard
(PO Box 93000), Bozeman,
MT, 59718-9300
Company Description
RightNow Technologies provides on demand customer
relationship management software and services. The
company’s solution uses a self-learning knowledge base
to deliver customer self-service, e-mail management, live
interaction, issue tracking, and customer satisfaction
measurement capabilities.
Telephone
(406) 522-4200
Industry
Enterprise Software
Website
www.rightnow.com
Aug 09
Sep 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Oct 09
FY 2007A
112.1
(18.6)
(0.56)
(14.8)
3.70
NA
NA
Nov 09
Dec 09
Jan 10
FY 2008A
140.4
(7.3)
(0.22)
(2.2)
2.95
NA
NA
Feb 10
Mar 10
FY 2009A
152.7
5.9
0.18
11.8
2.71
35.0
89.1
Auditor
KPMG
Legal Counsel
Investor Relations
Stacie Bosinoff, The Blue Shirt Group,
[email protected]
ROTH Contact
Nathan Schneiderman
[email protected]
(949) 720-7189
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (4/15/2010)
52wk Low (9/10/2009)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
69.3
3.9
7.8
12/2009
USD
8/16/2010
$16.04
$19.99
$11.85
226,667
$513.9
$414.4
32.0
10.61
0.0%
SINOHUB
SIHI
Exchange: NYSE Amex
Address
6/F, Building 51 Road 5,
Qiongyu Road Technology
Park, Nanshan District,
Shenzhen, 518057, China
Company Description
Sinohub provides services in supply chain management
and electronic component purchase, as well as mobile
phone manufacturing.
Telephone
+86 (755) 2661-2106
Industry
Technology
Website
www.sinohub.com
Aug 09
Sep 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Oct 09
Nov 09
FY 2007A
28.8
3.5
0.77
4.4
2.55
16.8
2.9
Dec 09
Jan 10
FY 2008A
79.5
8.5
0.40
11.2
0.92
6.6
5.7
Feb 10
Mar 10
FY 2009A
128.4
12.4
0.48
16.7
0.57
4.4
4.7
Auditor
JIMMY CH CHEUNG & CO
Legal Counsel
SEYFARTH SHAW, LLP
Investor Relations
Falicia Cheng, [email protected], +86 (755) 26611080
ROTH Contact
Kun Tao, CFA
[email protected]
(949) 720-7149
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (10/23/2009)
52wk Low (8/16/2010)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
17.0
11.4
13.0
12/2009
USD
8/16/2010
$2.27
$5.70
$2.08
49,212
$64.8
$73.5
28.6
1.22
0.0%
SOKO FITNESS & SPA GROUP
SOKF
Exchange: OTC BB
Address
No. 194 Guogeli Ave.,
Harbin, Heilongjiang
150001, China
Company Description
SOKO Fitness & Spa Group operates destination centers
that offer professional fitness, beauty salon and spa
services in China. The company provides programs,
services and products that uniquely combine exercise,
education and nutrition to help their members lead a
healthy way of life and achieve their fitness goals.
Telephone
+86 (451) 8770-2255
Industry
Leisure
Website
www.sokofitness.com
Aug 09
Sep 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Oct 09
Nov 09
FY 2007A
5.2
0.1
0.00
1.3
13.63
54.6
NA
Dec 09
Jan 10
FY 2008A
14.0
5.2
0.43
6.4
5.11
11.1
10.1
Feb 10
Mar 10
FY 2009A
19.6
7.0
0.41
8.8
3.64
8.1
10.6
Auditor
FRIEDMAN LLP
Legal Counsel
Investor Relations
Shawn Qu, VP Finance & Bus Dvlpmnt,
ROTH Contact
Adam Krejcik
[email protected]
(949) 720-7187
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (3/23/2010)
52wk Low (8/17/2009)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
65.6
36.0
44.9
05/2009
USD
8/16/2010
$4.35
$4.94
$2.50
17,738
$74.0
$71.3
17.0
2.28
0.0%
SORL AUTO PARTS
SORL
Exchange: NASDAQ GM
Address
1169 Yu Meng Road, Rui'an
Economic Development
Zone, ZheJiang Province,
China
Company Description
SORL Auto Parts manufactures and distributes
automotive air brake valves and hydraulic brake valves.
The company’s products are primarily for the commercial
vehicles market in China. The company distributes
products in China and internationally under SORL
trademarks.
Telephone
+86 (577) 6581-7720
Industry
Automotive
Website
www.sorl-autoparts.com
Aug 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Sep 09
Oct 09
FY 2007A
115.8
10.7
0.59
14.8
1.59
12.5
15.3
Nov 09
Dec 09
Jan 10
FY 2008A
130.9
12.4
0.68
18.7
1.41
9.9
13.3
Auditor
ROTENBERG & CO LLP
Legal Counsel
MORRIS, MANNING & MARTIN, LLP
Investor Relations
Ben Chen, IR Director, [email protected]
ROTH Contact
John Ma, CFA
+86 (21) 6141 5757 x7003
Feb 10
Mar 10
FY 2009A
125.0
12.8
0.70
18.7
1.47
9.8
12.9
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (1/12/2010)
52wk Low (8/27/2009)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
28.1
12.8
15.0
12/2009
USD
8/16/2010
$9.02
$12.89
$4.30
136,469
$174.1
$184.0
19.3
1.43
0.0%
[email protected]
SYNUTRA INTERNATIONAL
SYUT
Exchange: NASDAQ GS
Address
No.106, Dongluyuan
Community, Tongzhou
China
Company Description
Synutra International is a leading infant formula company
in China. It principally produces markets and sells its
products under the "Shengyuan" or "Synutra" name,
together with other complementary brands. It focuses on
selling premium infant formula products, which are
supplemented by more affordable infant formulas
targeting the mass market as well as other nutritional
products and ingredients.
Telephone
Industry
Retail & Consumer Products +86 (10) 5801-6501
Website
www.synutra.com
Jan 00
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Sep 09
Nov 09
FY 2008A
362.1
45.7
0.85
64.3
2.56
14.4
16.8
Dec 09
FY 2009A
312.5
(100.5)
(1.86)
(118.2)
2.97
NA
NA
Feb 10
Mar 10
FY 2010A
291.9
(24.9)
(0.46)
(13.5)
3.17
NA
NA
Auditor
Legal Counsel
O'MELVENY & MYERS, LLP
Investor Relations
Donghao Yang, CFO, [email protected]
ROTH Contact
Howard Zhou
+86 (21) 6141-5757 x7004
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (5/11/2010)
52wk Low (11/4/2009)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
33.6
2.7
03/2010
USD
8/16/2010
$14.25
$24.99
$10.79
186,188
$816.5
$926.7
57.3
6.70
0.0%
[email protected]
Exchange: NASDAQ GS
THE ULTIMATE SOFTWARE GRP.ULTI
Address
2000 Ultimate Way,
Weston, FL 33326
Company Description
The Ultimate Software Group designs, markets,
implements, and supports Web-based and client/server
cross-industry human resource management (HRMS)
and payroll software solutions.
Telephone
(954) 331-7000
Industry
Enterprise Software
Website
www.ultimatesoftware.com
Aug 09
Sep 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Oct 09
FY 2007A
151.5
33.1
1.24
14.7
5.21
53.8
26.3
Nov 09
Dec 09
Jan 10
FY 2008A
178.6
(2.9)
(0.12)
5.5
4.42
144.4
NA
Feb 10
Mar 10
FY 2009A
196.6
(1.1)
(0.05)
11.2
4.02
70.4
NA
Auditor
KPMG
Legal Counsel
Investor Relations
Mitch K. Dauerman, CFO & IR,
ROTH Contact
Nathan Schneiderman
[email protected]
(949) 720-7189
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (4/27/2010)
52wk Low (9/3/2009)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
55.3
0.6
5.7
12/2009
USD
8/16/2010
$32.55
$37.25
$24.59
191,084
$816.9
$789.8
25.1
14.12
0.0%
TRIMAS CORPORATION
TRS
Exchange: NASDAQ GM
Address
39400 Woodward Avenue,
Suite 130, Bloomfield Hills,
MI 48304
Company Description
TriMas Corporation is a diversified manufacturer of
proprietary products. The company manufactures trailer
products, recreational accessories, packaging systems,
energy products and industrial specialty products for the
commercial, manufacturing, and consumer markets.
Telephone
(248) 631-5450
Industry
Industrials
Website
www.trimascorp.com
Aug 09
Sep 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Oct 09
FY 2007A
1,003.1
(158.4)
(5.56)
141.1
0.92
6.5
NA
Nov 09
Dec 09
Jan 10
FY 2008A
1,013.8
(136.2)
(4.07)
142.2
0.91
6.5
NA
Feb 10
Mar 10
FY 2009A
803.7
(0.2)
(0.01)
94.4
1.14
9.7
NA
Auditor
KPMG LLP
Legal Counsel
Investor Relations
Sherry Lauderback, VP IR,
ROTH Contact
Richard W. Hoss
[email protected]
(949) 720-5778
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (8/10/2010)
52wk Low (11/2/2009)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
29.2
10.4
11.7
12/2009
USD
8/16/2010
$13.04
$14.04
$4.10
189,876
$443.9
$919.5
34.0
5.47
0.0%
U.S. AUTO PARTS NETWORK
PRTS
Exchange: NASDAQ GS
Address
17150 South Margay Ave,
Carson, CA 90746
Company Description
US Auto Parts Network. retails aftermarket automobile
parts over the Internet. The company sells body, engine,
and performance parts and accessories.
Telephone
(310) 735-0085
Industry
E-commerce
Website
www.usautoparts.net
Aug 09
Sep 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Oct 09
FY 2007A
161.0
(3.6)
(0.13)
5.6
1.28
36.6
NA
Nov 09
Dec 09
Jan 10
FY 2008A
153.4
(16.9)
(0.57)
(21.1)
1.34
NA
NA
Feb 10
FY 2009A
176.3
1.3
0.04
9.8
1.16
20.9
203.3
Auditor
Legal Counsel
Investor Relations
Ted Sanders, CFO, [email protected]
ROTH Contact
Jared Schramm
(949) 720-7125
Mar 10
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (4/30/2010)
52wk Low (11/4/2009)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
35.8
3.2
5.6
12/2009
USD
8/16/2010
$8.13
$9.47
$4.28
84,879
$246.6
$205.2
30.3
2.87
0.0%
[email protected]
WONDER AUTO TECHNOLOGY
WATG
Exchange: NASDAQ GM
Address
16 Yulu Street, Jinzhou City,
Liaoning Province, 121013,
China
Company Description
Wonder Auto Technology, through its Chinese
subsidiaries, designs, develops, manufactures and sells
automotive electrical parts, suspension products and
engine components.
Telephone
+86 (416) 266-1186
Industry
Automotive
Website
www.watg.cn
Aug 09
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Sep 09
Oct 09
FY 2007A
102.1
(3.8)
(0.16)
19.7
2.90
15.0
NA
Nov 09
Dec 09
Jan 10
FY 2008A
141.2
18.9
0.70
27.1
2.10
11.0
11.2
Feb 10
FY 2009A
211.0
22.9
0.82
34.3
1.40
8.7
9.6
Auditor
PKF INTERNATIONAL LIMITED
Legal Counsel
Investor Relations
Patrick Sun, IR Manager, [email protected]
ROTH Contact
John Ma, CFA
+86 (21) 6141 5757 x7003
Mar 10
Apr 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (10/21/2009)
52wk Low (5/6/2010)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
24.4
11.7
16.2
12/2009
USD
8/16/2010
$7.86
$15.78
$6.58
568,727
$266.1
$296.5
33.9
1.27
0.0%
[email protected]
YONGYE INTERNATIONAL
YONG
Exchange: NASDAQ GS
Address
6th Floor, Suite 608, Xue
Yuan International Tower
No 1, Zhichun Road,
Haidian District, Beijing,
100083, China
Company Description
Yongye International is a Chinese organic agricultural
nutrient company headquartered in Beijing, with its
production facilities located in Hohhot, Inner Mongolia,
China. The company researches, develops, produces
and sells fulvic acid based liquids and powder nutrient
compounds used in the agriculture industry.
Telephone
+86 (10) 8232-8866
Industry
Website
www.yongyeintl.com
Jan 00
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Sep 09
Nov 09
FY 2007A
13.1
4.4
0.38
5.1
26.49
68.0
20.5
Dec 09
FY 2008A
48.1
13.3
0.56
13.8
7.21
25.1
13.9
Feb 10
FY 2009A
98.1
2.2
0.07
32.0
3.54
10.8
111.4
Auditor
KPMG
Legal Counsel
LOEB & LOEB, LLP
Investor Relations
Sam Yu, CFO, [email protected]
ROTH Contact
Howard Zhou
+86 (21) 6141-5757 x7004
Mar 10
May 10
Jun 10
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (10/14/2009)
52wk Low (8/19/2009)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
55.4
31.0
32.6
12/2009
USD
8/16/2010
$7.80
$12.00
$5.55
538,169
$375.9
$347.0
48.2
2.12
0.0%
[email protected]
ZOO ENTERTAINMENT, INC.
Address
3805 Edwards Road, Suite
400, Cincinnati, OH, 45209
Industry
Leisure
Exchange: NASDAQ CM
ZOOG
Company Description
Zoo Entertainment is a developer, publisher, and
distributor of interactive entertainment software targeting
family-oriented
mass-market
consumers.
Its
entertainment software is developed for use on major
consoles,
handheld
gaming
devices,
personal
computers, and mobile smart-phone devices. In addition,
it operates IndiePub Games, a free website for gaming
enthusiasts and independent software developers
Telephone
Website
(949) 720-7187
www.zoogamesinc.com
Mar 10
Financials
Revenue
Net Income
Diluted EPS
EBITDA
EV / Sales
EV / EBITDA
P/E
Apr 10
FY 2007A
NA
NA
NA
May 10
FY 2008A
36.3
(21.7)
NA
(15.5)
0.87
NA
NA
Jun 10
FY 2009A
48.7
(13.2)
NA
(0.8)
0.65
NA
NA
Auditor
AMPER, POLITZINER & MATTIA, LLP
Legal Counsel
DORSEY & WHITNEY LLP
Investor Relations
Tricia Ross, Financial Profiles, [email protected],
(916) 939-7285
ROTH Contact
Adam Krejcik
[email protected]
(949) 720-7187
Jul 10
Margins (ttm)
Gross (%)
Operating (%)
EBITDA (%)
Reporting
Last FYE
Currency
Issue Data
Last Price
52wk High (2/22/2010)
52wk Low (7/7/2010)
Avg 3M Volume
Market Cap (mm)
Shares Out (mm)
Price to Book Ratio
Dividend Yield
Aug 10
12/2009
USD
8/16/2010
$5.13
$150.00
$4.56
13,103
$32.0
$31.5
6.2
1.51
0.0%
ROTH Research Team
Mark Tobin
Jeff Martin, CFA
Shanghai Chief Representative
& Director of China Research
John Ma, CFA
Sector
Research Analysts
Richard Ingrassia, Senior Research Analyst
Jared Schramm, Research Analyst
Business Services
Jeff Martin, CFA, Senior Research Analyst
China
John Ma, CFA, Senior Research Analyst
Sean Jiang, CFA, Senior Research Analyst
Adam Krejcik, Senior Research Analyst
Kun Tao, CFA, Senior Research Analyst
Howard Zhou, Senior Research Analyst
CheanTech
Brian Kremer, Senior Research Analyst
Enterprise Software
Nathan Schneiderman, Senior Research Analyst
Mark Tobin, Senior Research Analyst
Industrials
Rick Hoss, Senior Research Analyst
Medical Technology
Matt Dolan, Senior Research Analyst
Richard Ingrassia, Senior Research Analyst
Rich Ingrassia is a Senior Research Analyst covering Media, Advertising and the Internet.
Prior to joining ROTH, Mr. Ingrassia was strategy consultant at Pricewaterhouse Coopers
in Los Angeles, where he advised senior entertainment industry management on issues of
market development, organization and operations. Prior to that, Mr. Ingrassia was
Research Analyst at Paul Kagan Associates, concentrating in motion picture production,
distribution, exhibition and home entertainment. Mr. Ingrassia has written, edited and
published numerous financial newsletters and research reports on the entertainment
industry and media M&A. He has appeared on CNBC and has been quoted in Investors
Business Daily, USA Today and Forbes. Mr. Ingrassia has a B.A. magna cum laude in
Economics and Statistics from the University of Notre Dame, and an M.S. in Journalism
and Publishing from Northwestern University.
Jared Schramm, Research Analyst
Jared Schramm is a Research Analyst focusing on the Media, Advertising and Internet
Sectors. Prior to joining ROTH, he spent two years at William O’Neil & Co. where he
served in an equity research position. Mr. Schramm graduated from the University of
Southern California with degrees in Economics and Political Science. Prior to attending
University Mr. Schramm spent several years in the United Kingdom where he attended
Warwick School in England. He joined Roth Capital Partners in July 2008.
Business Services
Jeff Martin, CFA, Co-Director of Research & Senior Research Analyst
Jeff is the Co-Director of Research and Senior Analyst covering the Business Services
Sector at ROTH Capital Partners. In 2004, Mr. Martin was named to the Wall Street
Journal’s "Best on the Street" analyst survey, honoring the nation’s top sell-side equity
analysts. He was the #1 ranked analyst in the US for the casino industry sector.
Additionally in 2004, the Forbes.com/StarMine- North American Analyst Survey
recognized Mr. Martin as a top Industry Earnings Estimator in Hotels Restaurants &
Leisure. Before joining ROTH, Jeff analyzed technology and business services stocks for
the Redchip Review - a small cap equity research publication. He was awarded
departmental honors in Business Economics at Willamette University in Salem, Oregon
and graduated cum laude from Willamette's M.B.A. program. He received scholar athlete
honors three times at Willamette for baseball. He is a CFA Charterholder and a member of
the CFA Institute and the CFA Society of Orange County.
China
John Ma, CFA, Shanghai Chief Representative & Director of China Research
John Ma is the Director of China Research and Chief Representative of ROTH Capital
Partners' Representative Office in Shanghai, China. He joined ROTH in 2006 as an
International Research Analyst and focuses on China-related securities. Prior to joining
ROTH, Mr. Ma was a portfolio manager at Innovus Financial Solutions, a Houston wealth
management firm affiliated with AIG American General. Prior to Innovus, he was a senior
financial consultant at FleetBoston Financial (now a Bank of America company). Mr. Ma
received his BA in journalism from Fudan University in China, MA in mass communication
from Louisiana State University, and MBA in finance from University of Houston. He is
also a Chartered Financial Analyst.
Sean Jiang, CFA, Senior Research Analyst
Sean Xiaoyang Jiang is a Research Analyst focusing on the Global Energy & Industrials
sector and on China’s macro economy. Prior to joining ROTH’s research team, he worked
as a senior associate at ROTH with Donald Straszheim, former global Chief Economist of
Merrill Lynch, focusing on China’s macro economy. Before his MBA, he was the executive
director of the international business department of XiangCai Securities, a leading
investment bank based in Shanghai, China, and the head of its sales and trading
department for QFII (Qualified Foreign Institutional Investors) clients. While attending
Pepperdine University, he interned at Arthur Consulting Group, a business valuation firm
in California. Mr. Jiang received his B.A. in Economics from Central South University of
China in 1998, M.A. in Finance from Fudan University (Shanghai, China) in 2002, and
MBA from Pepperdine University in 2007. Mr. Jiang joined ROTH Capital Partners in 2006.
He is a CFA Charterholder and a member of CFA Institute and the CFA Los Angeles
Society.
Adam Krejcik, Senior Research Analyst
Adam Krejcik is a Senior Research Analyst focused on the Leisure sector. Mr. Krejcik
joined ROTH Capital in 2006 as an Associate covering Small Cap Casino Operators and
Equipment Suppliers. Prior to joining ROTH, he spent two years at Banc of America
Securities, as an Equity Research Associate, where he covered Video Games and
Business Services. Mr. Krejcik received his B.A. in Business Economics from the
University of California Santa Barbara. In 2010, Mr. Krejcik was recognized by FT/
StarMine as the #3 ranked earnings estimator in Asia’s Software & IT Services Industry.
He has been quoted in Barron’s, Wall Street Journal, Investor Business Daily, Forbes, and
other financial publications for his expertise in the China Online Game industry.
Kun Tao, CFA, Senior Research Analyst
Kun Tao joined ROTH Capital Partners in 2007 as a Senior Research Analyst focusing on
China-related securities. Previously, he worked for Connective Capital Management, LLC
as a financial analyst and portfolio accountant. Mr. Tao has four years of experience in
credit analysis, financial modeling, corporate finance and accounting. Mr. Tao received
his B.S. in Management Information Systems from California State University, Fullerton,
an MBA in Finance and Accounting from the University of California, Riverside. He is also
a Chartered Financial Analyst and member of the Los Angeles CFA Society.
Howard Zhou, Senior Research Analyst
Howard Zhou joined ROTH Capital Partners in 2008 as a Senior Research Analyst
focusing on China-related securities. Previously, he was an equity analyst at B. Riley & Co.
Prior to that; he worked as a senior financial analyst at Belkin Corporation. From 1996 to
2001, he took various roles and responsibilities in sales and marketing with Royal
Dutch/Shell (China), most recently as a marketing and business development manager.
Mr. Zhou received his M.B.A. in Finance from UCLA Anderson School of Management
and a B.A. in International Business from Shanghai University in China. He is also a CFA
Level III exam candidate.
CleanTech
Brian Kremer, Senior Research Analyst
Brian Kremer is a Senior Research Analyst focused on energy, with a particular emphasis
on clean technology. Prior to joining ROTH in July 2007, Mr. Kremer was an investment
banker at Ardour Capital Investments, a boutique firm in New York City where he worked
exclusively with companies in the alternative and renewable energy space. Prior to Ardour
Capital, Mr. Kremer was a Program Executive for NASA’s Project Prometheus, which was
developing advanced propulsion and power generation for deep space exploration. Prior
to NASA, Mr. Kremer directed all external affairs activities for a US-led international
organization building a $4.5B nuclear power plant in North Korea. Mr. Kremer began his
career at the US Department of Energy, where he worked on technical, policy, and
legislative issues related to nuclear and environmental safety and national security and
participated on task forces to develop the National Energy Strategy. Mr. Kremer sits on the
Board of CleanTech OC. He received his MS in Mechanical Engineering from the
University of Texas (summa cum laude).
Enterprise Software
Nathan Schneiderman, Senior Research Analyst
Mr. Schneiderman is a Senior Research Analyst providing equity research coverage of the
enterprise software sector. Within enterprise software, Mr. Schneiderman focuses on
applications vendors and business intelligence/analytics vendors. Mr. Schneiderman
joined ROTH Capital from Wedbush Morgan Securities, where he was a Vice President
covering the enterprise software sector. Prior to that, he was an equity analyst with Silver
Tree Capital, a long/short U.S. equity hedge fund based in New York. Mr. Schneiderman
also was an equity research analyst focused on the enterprise software sector with both
Credit Suisse First Boston and Salomon Smith Barney. The Wall Street Journal has
ranked Mr. Schneiderman as a three-time "Best on the Street" analyst for the software
sector, most recently for 2009. Prior to becoming a financial analyst, Mr. Schneiderman
spent more than a decade in the information technology field as a project manager and
software developer. He designed artificial intelligence systems for the Central Intelligence
Agency and computer games for Electronic Arts. Mr. Schneiderman holds an MBA in
finance from Columbia University and a BS in computer science from Duke University.
Mark Tobin, Co-Director of Research and Senior Research Analyst
Mark Tobin is the Co-Director of Research as well as a Senior Research Analyst covering
the Global Energy & Industrials sector. Mr. Tobin was previously the Director of China
Research, residing in Shanghai from 2007 to 2009. Under his leadership, ROTH
established its China-focused research team and significantly enhanced its research
coverage of the US-listed China sector - expanding its company coverage, introducing
sector-focused research products, and hosting investor conferences. Prior to joining
ROTH, Mr. Tobin worked in the Aerospace/Defense industry as a Program Manager and
Senior Systems Engineer with Science Applications International Corporation and the US
Air Force. During this time, he oversaw the design, development, and manufacturing of
various products, ranging from integrated circuits to satellite communications systems. He
also served as a NATO delegate and coordinated with various government agencies to
create and enforce export policies for military technologies. Mr. Tobin graduated with
honors from the US Air Force Academy and received an MBA from the University of
Pittsburgh, Katz Graduate School of Business.
Industrials
Rick Hoss, Senior Research Analyst
Rick Hoss is a Senior Research Analyst covering the Industrials sector. Prior to joining
ROTH, Mr. Hoss was the Associate Director of Corporate Finance at Ascendiant
Securities. Prior to Ascendiant, Mr. Hoss served seven years in the Air Force and NY Air
National Guard as an Aircraft Commander flying C-130’s and LC-130’s. He was twice
awarded the Aerial Achievement Medal by the Secretary of the Air Force. Mr. Hoss earned
a B.S. from the United States Air Force Academy and an MBA from the University of
Maryland.
Medical Technology
Matt Dolan, Senior Research Analyst
Matt Dolan is a Senior Research Analyst focusing on Medical Technology: Devices &
Diagnostics. Prior to joining ROTH Capital Partners in 2003, Mr. Dolan formed a trading
group at the Chicago Board of Trade and Chicago Board Options Exchange where he
analyzed position risk and traded equities and fixed-income products. He also worked as
an analyst with a hedge fund in New York, specializing in small-cap medical device,
biotechnology, and pharmaceutical companies. His investment views have been cited in
the Barrons, Investors Business Daily, Wall Street Transcript, Forbes and BusinessWeek,
as well as Associated Press and Dow Jones publications. Mr. Dolan received his
Bachelor's degree in Economics/Pre-Med from Northwestern University.
ROTH Investment Banking Team
Chairman & CEO
Byron Roth
President
Ted Roth
Sector
China
Robert Stephenson, Managing Director
Henry Fan, Managing Director
Marcus Tan, Managing Director
Mitch Truelock, Managing Director
Tongwei Wu, Director
Josh Matthew, CFA, Vice President
Sherry He, Vice President
Gary Liu, Vice President
Greg Kitt, Associate
Han Hu, Analyst
Elaine Zhou, Analyst
Consumer
Joe Schimmelpfennig, Managing Director
Jeff Ng, Managing Director
Healthcare
John Chambers, Managing Director
Head of Healthcare Investment Banking
Michael Margolis, R.Ph., Managing Director
Lisa Walters-Hoffert, Managing Director
ROTH Investment Banking Team
Byron Roth, Chairman & CEO
Byron Roth is Chairman and CEO of ROTH Capital Partners, LLC., an investment bank
dedicated to the small-cap public market. The firm has helped these companies raise over
$10 billion, as well as successfully complete many merger and acquisition and advisory
assignments. ROTH was one of the first U.S. investment banks to focus on financing U.S.
listed Chinese companies, and established a representative office in Shanghai in 2007.
He is a founder and board member of Cortina Asset Management, LLC, a small- cap
money manager with approximately $1.5 billion under management, as well as
Eudaimonia Asset Management, LLC, an investment advisory boutique specializing in
small and micro-cap growth investments. Mr. Roth is a member of the University of San
Diego Board of Trustees and is also a Founding Member of the Executive Cabinet for the
Athletic Department. Mr. Roth earned his undergraduate degree from the University of
San Diego in 1985 and his MBA from the Johnson Graduate School of Management at
Cornell University in 1987.
Ted Roth, President
Ted Roth is President of ROTH Capital Partners, LLC. He currently serves on the Board
of Directors of BioMed Realty Trust (NYSE: BMR), and is a member of the Board of
Directors of the San Diego Padres Baseball Team, San Diego Regional Chamber of
Commerce (2002 Chairman), San Diego Sports Commission (2005 Chairman), Rady
Children’s Hospital and Health Center, CONNECT, and BIOCOM, and is past Chair of the
California Democratic Leadership Council.
Mr. Roth is a graduate of Iowa Wesleyan College, and has a J.D. from Washburn
University and an LL.M. from the University of Missouri in Kansas City.
China Banking Team
Robert Stephenson, Managing Director
Mr. Stephenson is a Managing Director in the Investment Banking department at ROTH
Capital Partners. Mr. Stephenson has been with ROTH for over 12 years. Since 2005, Mr.
Stephenson has primarily focused on helping to build ROTH's China Investment Banking
practice and has completed over $2.4 billion in financings for 66 U.S.-listed companies.
Prior to joining ROTH in 1998, Mr. Stephenson was at Coopers and Lybrand, L.L.P. Mr.
Stephenson received his B.S. degree in Accounting from the University of Southern
California.
Henry Fan, Managing Director
Mr. Fan is Managing Director in Investment Banking. During his 15 years career as a FIG
investment banker, Henry led the origination and execution of over $15 billion of
transactions, including IPOs, follow-on offerings, private placements and M&As. Prior to
joining Roth in 2010, Mr. Fan was managing director of investment banking at Jesup &
Lamont Securities. Mr. Fan was previously Managing Director of FIG Investment Banking
at FBR Capital Markets, where he was instrumental in helping to build a prominent FIG
practice and a top 10 IPO/144A lead underwriter in the US. Mr. Fan formerly worked at the
Hamilton Securities Group. Mr. Fan received his BS degree from Nanjing University in
China and his PhD degree from Massachusetts Institute of Technology.
Marcus Tan, Managing Director
Marcus Tan is a Managing Director in the Investment Banking department of ROTH
Capital Partners. Since joining ROTH in 2008, Mr. Tan has worked on more than 20
transactions, raising approximately $1.0 billion for U.S.-listed Chinese companies. He is
also responsible for relationships with both China and Hong Kong based institutional
investors.
Mr. Tan began his career as a sell-side utility research analyst for Merrill Lynch in New
York. After two years, he was transferred to investment banking in Singapore with Merrill
for another two years where he concentrated on corporate finance/M&A transactions in
the energy and power industries. He then moved to Salomon Brothers (ultimately merged
into Citigroup) where he spent four years in Hong Kong, New York and Tokyo with both
the power and technology investment banking teams. Most recently, Mr. Tan was a
director at HSBC in Hong Kong for three years where he focused initially on the Asian
power/energy sectors and then moved on to executing high-yield debt transactions. Mr.
Tan graduated from Auckland University (New Zealand) with a Bachelor of Commerce. He
also has Master of International Affairs and MBA from Columbia University (New York)
where he achieved Beta Gamma Sigma honors.
Mitchell Truelock, Managing Director
Mr. Truelock is a Managing Director in the Investment Banking department at ROTH
Capital Partners (“ROTH”). Prior to joining ROTH, Mr. Truelock was CEO of a startup
consumer products company. Mr. Truelock also spent two years at Sorrento Networks, a
public technology company in San Diego, where he managed sales and marketing and
was responsible for corporate development for the company. Prior to Sorrento, Mr.
Truelock spent four years as a vice president in investment banking at Robertson
Stephens and RBC Capital Markets in San Francisco, where he worked on numerous
IPOs, private placements and mergers and acquisitions. Mr. Truelock also spent three
years as a corporate attorney at Cooley Godward in San Francisco, where he worked on
IPOs, private placements, mergers and acquisitions and general corporate securities work
for companies. Mr. Truelock has an LL.M in Corporate and Securities Law from
Georgetown University (with Distinction), a J.D. from Southern Methodist University (Cum
Laude) and a B.B.A. in Accounting from the University of Texas (Summa Cum Laude).
China Banking Team
Tongwei Wu, Director
Tongwei Wu is a Director in the Investment Banking department. Mr. Wu joined ROTH
Capital Partners in 2007 and is responsible for China related transactions. From 2002 to
2007, Mr. Wu was Chief Representative and Research Director and Senior Analyst at
iSuppli, a leading global semiconductor market research firm. At iSuppli, Mr. Wu managed
its syndicate technology, multimedia, and telecom research in China. Prior to iSuppli, he
worked as Managing Editor of Electronics Buyers News for China (EBN-China), a leading
Chinese trade magazine belonging to Global Sources and CMP group. Mr. Wu also has
held marketing, sales, and engineering positions with various Chinese electronics
companies. He has an MBA from Massey University, New Zealand and holds a university
diploma from Hefei University of Technology, China.
Josh Matthew, Vice President
Josh Matthew, a Vice President in the Investment Banking department, joined ROTH
Capital Partners in 2006 and is responsible for executing both public and private equity
transactions. Prior to joining ROTH Capital Partners, Mr. Matthew was an Equity Research
Associate at Thomas Weisel Partners where he focused on the Multimedia Entertainment
and E-Commerce industries. Prior to joining Thomas Weisel Partners, he worked at
Cowen and Company as an investment banker in the Technology group. Mr. Matthew is a
CFA charterholder and received his B.S. degree in Finance with a Minor in
Communications from San Diego State University.
Sherry He, Vice President
Ms. He is a Vice President in the Investment Banking department. Ms. He joined Roth
Capital Partners in the U.S. in June 2005 and now is based in Shanghai. Ms. He is
responsible for China related transactions. Prior to this, Ms. He spent two years as a
financial analyst and later an investment banker specializing in US-listed Chinese
companies at Etech Securities, a boutique investment bank with a focus on the Greater
China Area. Before moving to the United States, Ms. He held the position of Financial
Controller at Daxwell Investment Ltd. of Singapore, a commodity brokerage firm trading for
both house and clients’ accounts, where she gained valuable experience in commodity
trading and working with substantial clients. Prior to this, Ms. He was an in-house
accountant for Shanghai Sriet International Trading Co. Ltd. (holding company of Daxwell
Investment Ltd.) in Shanghai, China. Ms. He graduated with honors from Shanghai Tongji
University in China with a B.S. in Accounting and holds an M.B.A. with a concentration in
finance from Cal Poly Pomona. Ms. He has passed both the CFA Level I & II examinations.
Gary Liu, Vice President
Mr. Liu is a Vice President in the Investment Banking department. Mr. Liu joined ROTH
Capital Partners in 2009. Prior to ROTH, Mr. Liu worked with Jefferies & Co. China
Investment Banking for nearly three years. Transaction experiences include IPO, FO
offering, Convertible Bond offering, M&A, LBO, PIPE, Private Placement and De-listing.
Before his employment at Jeffries & Co he worked with PwC China Transaction Services
Group for a year and a half, focusing on M&A transactions services and Financial Due
Diligence services for Private Equity Funds and multinational corporations. Mr. Liu has his
B.S in Applied Mathematics and Economics from Fudan University. Mr. Liu passed the
CFA Level III examination in 2008.
Greg Kitt, Associate
Greg Kitt is an Associate in the Investment Banking department. Mr. Kitt joined ROTH
Capital Partners in 2008 and is responsible for assisting senior China bankers in the
execution of public and private equity transactions. Mr. Kitt received his B.A. degrees in
Finance and Chinese from the Southern Methodist University.
China Banking Team
Han Hu, Analyst
Han Hu is an Analyst in the Investment Banking department. Mr. Hu joined ROTH Capital
Partners in 2008 and is responsible for assisting senior bankers on the China team in
executing both public and private equity transactions. Mr. Hu is a CFA Level II candidate
and received his B.A. degree in Economics from the University of California, Los Angeles.
Elaine Zhou, Analyst
Elaine Zhou joined ROTH Capital Partners in Investment Banking in early 2010 as an
analyst responsible for assisting senior bankers in deal origination, analysis, due diligence
as well as execution of both public and private equity transactions. She first joined ROTH
equity research department in 2008 as a research associate covering US listed Chinese
companies in sectors ranging from information technology, industrial production, real
estate and agriculture. Prior to joining ROTH, she interned for Private Banking at Standard
Charted Bank. Prior to that, she interned for Financial Consulting at Fortis Bank in Hong
Kong. Elaine Zhou received her Bachelor of Economy from Shanghai University of Foreign
Trade. She was also awarded to join the Business Elite Exchange Program by Hong Kong
University.
Consumer Banking Team
Joe Schimmelpfennig, Managing Director
Mr. Schimmelpfennig is a Managing Director in Investment Banking. Mr. Schimmelpfennig
has been with ROTH Capital Partners for over 10 years during which he has successfully
completed over 50 public and private equity transactions as well as a number of merger
and acquisition assignments. Mr. Schimmelpfennig's industry experience is broad-based,
but primarily includes communications and media, technology, healthcare, staffing and
training, consumer products and manufacturing. Mr. Schimmelpfennig holds a B.A. in
Finance from Coe College.
Jeff Ng, Managing Director
Jeff Ng is a Managing Director in Consumer Investment Banking where he has
successfully completed numerous equity transactions as well as a number of merger and
acquisition advisory assignments. Prior to joining ROTH Capital Partners in 2000, Mr. Ng
was an Associate with Capital International, Inc. He started his professional career at
Deloitte & Touche LLP where he provided assurance services for more than three years.
He is a Certified Public Accountant and a CFA charterholder. Mr. Ng earned his B.S. in
Business Administration from the University of Southern California and received an M.B.A.
from University of Arizona.
Healthcare Banking Team
John Chambers, Managing Director and Head of Healthcare Investment Banking
John Chambers, a Managing Director and Head of Healthcare Investment Banking group,
joined Roth Capital Partners in December 2009. Chambers was formerly the head of
Merriman Curhan Ford’s Heath Care and investment banking team. Prior to joining
Merriman, Chambers was co-head of investment banking at Rodman & Renshaw. He has
also held senior-level health care and biotechnology banking positions at SG Cowen,
Lehman Brothers, UBS and Salomon Smith Barney. Chambers has executed a significant
number of banking transactions, strategic transactions and restructurings across all health
care sectors.
Chambers earned his M.B.A. from Columbia Business School and his B.S. in mechanical
engineering from Union College. He is based in our New York office.
Michael Margolis, R.Ph., Managing Director
Michael Margolis is a Managing Director in ROTH Capital Partners’ Healthcare Investment
Banking group and joined the firm in December 2009. Margolis was most recently a
Managing Director of Healthcare Investment Banking at Merriman Curhan Ford.
Previously Margolis was a senior vice president at Rodman & Renshaw. He had extensive
financial and pharmaceutical industry experience before joining Rodman. Margolis worked
at Novartis Pharmaceuticals Corporation in several roles, including as a director in the
global business development and licensing group. He was an equity research analyst at
Ursus Capital, and he began his career as at Eli Lilly & Company as a senior
pharmaceutical representative.
Margolis is a registered pharmacist with an M.B.A. from New York University’s Stern
School of Business and a pharmacy degree from Rutgers University, College of Pharmacy.
He is based in our New York office.
Lisa Walters-Hoffert, Managing Director
Lisa Walters-Hoffert joined ROTH Capital Partners in 1997 as a member of the firm’s
healthcare banking team based in San Diego. From 2001 to 2003, Lisa worked outside of
ROTH, and she rejoined the firm in 2004. Since 1986 Ms. Walters has held numerous
positions in corporate finance including senior vice president in the Investment Banking
Division of Oppenheimer & Co., Inc., New York and co-head of investment banking
activities in Central America and the Caribbean for Citicorp Securities, Inc., San José,
Costa Rica. In addition, Lisa has served as chief financial officer of Cypress Bioscience
and as vice president in the Private Banking Division of Bank of America. Her
transactional experience includes initial and follow-on public offerings, merger and
acquisition advisory assignments, private placements of both debt and equity, interest rate
hedging strategies and valuation analyses. Lisa graduated magna cum laude from Duke
University with a B.S. degree in Management Sciences and Finance. Lisa serves on two
non-profit boards in San Diego and is currently Chairwoman of the Board of Directors of
the UCSD Libraries.
Thank you to our sponsors
Platinum Sponsors
Loeb & Loeb LLP
DLA Piper
Gold Sponsors
Bernstein & Pinchuk LLP
Bullivant Houser Bailey PC
Frazer Frost, LLP
Friedman LLP
Pillsbury
Singer Lewak
The Piacente Group, Inc.
Silver Sponsors
Business Wire
Corporate Stock Transfer
Goodwin Procter
Malone Bailey LLP
Nixon Peabody LLP
Sichenzia Ross Friedman Ference LLP
Grand Wailea Floorplan

Untitled - ROTH Capital Partners

Transcription

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