Bolt Technology: Charged for Growth

I made a call on Bolt Technology (BOLT) on theupdown.com 126 days ago. Since then it is up 23.46%. BOLT was one of last year's most exciting stocks. Their expertise in geophysical products is what drives their business. I believe this stock will be bought with oil exploration and production needing to be picked up dramatically over the next couple of years. Bolt also provides industrial products. Every part of their business is marine based, including but not limited too, air guns, energy source monitoring systems, underwater electrical connectors, air gun synchronizers and controllers, miniature industrial clutches, brakes and sub-fractional horsepower electrical motors.

Fiscal 2007 was another great year. Revenues, operating income, net income and operating income margins were all records. The president of the company stated this was driven by growth in their air gun and other seismic techologies. This has been driven by a global move to find energy due to high commodity prices. Countries like India are now trying to find oil off of their coasts, as it has now become cost efficient to do so. I do believe that this will continue as countries scramble to get their oil infrastructure on-line and producing before the price moves back down to more reasonable levels.