Model manager GEARS added two new positions to the Speedboat model this week. The first, Intevac Inc (NASDAQ: IVAC), is a developer of cameras, low-light electro-optical sensors and imaging systems. Their second quarter 2010 financial results showed a 107 percent increase in total revenues over the same period the previous year, which was the six consecutive quarter exhibiting revenue growth. Their earnings per share grew from $0.06 in quarter one to $0.54 in quarter two.
The second position that GEARS added was the analog power, mixed-signal circuit designer and manufacturer Micrel Semiconductor Inc (NASDAQ: MCRL). The company has a history of innovative, money-saving products including their most recent device that reduces power consumption in Ethernet cables by 50 percent. Their second quarter 2010 financial results showed a 10 percent increase in revenues over the same quarter of the prior year. Their earnings per share grew from $0.16 in quarter one 2010 to $0.20 in quarter two.
In his Trading the Odds model, manager Frank Hogelucht added ProShares UltraPro Short S&P 500 ProShares (SPXU). SPXU attempts to provide 300 percent of the inverse of the daily performance of the S&P 500. The Trading the Odds model uses a poker-like approach to investing, and the purchase of SPXU indicates some heavy betting against the S&P. On October 6, 2010 SPXU was trading at a premium to NAV.
The last position we are going to look at today is Sify Technologies Ltd (NASDAQ: SIFY) which was added to the Trend Following model this week. SIFY is an IT company located in India. Their first quarter 2010 financial results showed a 9 percent increase in revenues over the same quarter in the previous year. Unfortunately, consumer business revenues actually fell 44 percent from the same quarter of the previous year.
