The High Growth model managed by Joseph Mjelde is focused on stocks with consistent revenue and earnings growth of 20 percent or more. Mjelde also looks for those stocks that should have continued growth due to the trends of their respective industries. The model keeps 10 or more holdings and has low turnover. In fact, the last transactions within the account were completed in July.
The top holding in the model is Fuel Systems Solutions Inc (NASDAQ: FSYS), a designer and manufacturer of alternative fuel systems and components that work in transportation vehicles and industrial equipment. FSYS’s sales have grown consistently since 2007, rising from $265.3 million during that year to $382.7 million in 2008 and $452.3 million in 2009. Their sales during the first quarter of 2010 were $161.7 million, but fell to $99.8 million during the second quarter. Total shareholder equity grew from $110.8 million in 2006 to $135.1 million in 2007, then again to $154 million in 2008 and finally, to $243.2 million in 2009. Outstanding shares rose from 15.7 million in 2008 to 17.6 million in 2009.
Another top holding in the model is Ebix Inc (NASDAQ: EBIX). EBIX is an on-demand, insurance industry software outsourcing company with global delivery centers. In 2007, the company’s sales reached $42.8 million. In 2008 they rose to $74.8 million and rose again in 2009, this time to $97.7 million. By the second quarter of 2010, the company had already reported $63.8 million for the year. In October, the company announced that they had reduced their outstanding, short-term convertible debt from $29.9 million to just $10 million. They also announced the purchase of USIX Technologies, Inc., an insurance exchange based in Rio de Janero. The company is a provider of internet interface and other exchange solutions to Brazilian insurance companies and agents.
