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July 23, 2007 Stock Pick: Elecsys Corporation (ASY)

Stock Price: $8.45 (short-term)

Elecsys Corporation designs, manufactures, and integrates custom electronic interface solutions for original equipment manufacturers in the aerospace, medical, communications, safety, transportation and other industrial product industries. They also provide remote monitoring solutions for the gas and oil pipeline industry as well as other industries requiring remote monitoring solution.

ASY reported sales of $5.17 million and net income of $326,000 in its most recent quarter. Total consolidated backlog as of April 30 was $10.40 million. Operating income increased 50% in fiscal 2007 over fiscal 2006. The company has grown revenue from $12.30 million in 2005 to $14.69 million in 2006 to $19.80 million in 2007 and has remained profitable each year.

ASY is currently trading at a market cap of only $27.75 million. Insiders have been purchasers of ASY.

The stock has been in a noticeable trend of higher spikes and higher bottoms since early March. Notice this trend in the six-month chart. ASY has closed very near its high of the day during the last two trading sessions and appears to be ready to reach one of those higher spikes again in the very near future.

There have been few sellers at the bid in ASY the last two days. Buyers have been coming up to the ask. ASY has only 2.36 million shares in the float.

We have purchased shares of ASY.

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