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chrich12

04/02/10 9:23 AM

#83 RE: pickinstocks #82

My initial read/skim of the 10K was less than favorable. Looks like they increased OEM sales, but had significant decreases in after market and international sales. They managed a fully diluted EPS of .70, which was more than the .68 in 2008, but not by much. I didn't read much to give me hope that they would increase the after market or international sales, and I'm not sure how much more OEM growth is practical.

One positive that I read was their desire to get into the retail auto parts space, and their push for efficiencies, but there weren't any concrete plans. I'd love to see them crack the retail market, since it is growing at a much faster pace.

After looking at PE's for relatively comparable companies - CAAS, WATG, and TXIC, my initial thought is that they are fairly priced based on their growth numbers.

I need to do more digging to finalize an opinion, but I have to say I'm not overly optimistic at this point.

Chad
(still holding)