Axsys Technologies Soars

One of my favorite defense stocks, Axsys Technologies (AXYS), is putting itself on the auction block . The company is asking for “roughly” $60 a share which is a huge premium over yesterday’s close of $27.37. The market is taking the news very seriously. At one point today, AXYS reached $39.25–that’s a one-day gain of 44%!

Axsys is a cool little company. They make sure our brave men and women in the military can find the bad guys even in the most difficult conditions. Axsys’ infrared technology is used in fighter planes and tanks, with the aerospace and defense markets accounting for a majority of the company’s sales. Its state-of-the-art perimeter security systems are so reliable that Axsys equipment is used to protect some of the United States’ most critical military assets.

Last month, Axsys reported Q4 earnings of 60 cents a share which is a huge increase over the 36 cents a share from Q4 of 2007. I first recommended Axsys in the September issue of Emerging Growth. Unfortunately, my timing wasn’t very good as the bear market has dragged down the shares ever since. The move today is very nice to see. Axsys is a very good buy.

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