"For the nine-month period ending September 30, 2008, revenues totaled $298.4 million, an increase of 61% from $185.6 million for the first nine months of 2007.

"Net income over this period was $22.7 million, or $1.44 per diluted share, compared to $1.1 million, or $0.07 per diluted share, for the year earlier period. For 2008, the company raised its revenue expectation to $385 million from $350 million.

"The company also generates cash by its very operations, to the tune of nearly $27 million over the last nine months.

"On the balance sheet, the firm, as of Sept. 30, 2008, had cash and cash equivalents totaling $34.3 million. In other words, unlike some clean energy stocks, which have risen on hype alone, Fuel Systems has the strong underlying fundamentals to warrant a stock price expansion.

"There is much upside for Fuel Systems, and as the new administration takes office, we expect reduced dependency on oil to be in the forefront of policy enactment -- this would be a clear catalyst for Fuel Systems.

"In 2009, we wouldn't be surprised to see the firm trading in the $45 to $50 range, in line with consensus analyst opinion, and well above its current price of $33.28, which represents a meager 16 times forward earnings."

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