Serving the Institutional Investor Since 1972
CL King
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Jim Barrett

Managing Director, Director of Research

Jim Barrett joined CL King & Associates in January 2002, and was promoted to Director of Research/Senior Vice President in 2005. Jim's research focuses on special situations with an emphasis on building materials companies. Prior to working on Wall Street, he spent eleven years in consumer marketing, most recently with Joseph E. Seagram & Sons.

As an analyst, Jim was recognized by The Wall Street Journal in its 2007 "Best on the Street" survey. He has also achieved "All Star" recognition by Zacks and has been ranked among top analysts in the Reuters CFO survey. He is a graduate of the University of Rochester and holds an MBA in Marketing from Columbia Business School.

Company Coverage Universe

Special Situations

AMERCO UHAL
Audiovox Corporation VOXX
Blyth, Inc. BTH
Chattem, Inc. CHTT
Chemed Corporation CHE
Libbey, Inc. LBY
Midas, Inc. MDS
The Scotts Miracle-Gro Company SMG
Sturm, Ruger & Company, Inc. RGR
The Toro CompanyTTC

Building Materials

Armstrong World IndustriesAWI
Owens Corning OC
USG CorporationUSG
W.R. Grace & Co.GRA

William R. Armstrong, CFA

Senior Vice President and Senior Research Analyst

William Armstrong joined CL King in March of 2001 as a Senior Analyst covering the specialty retailing industry. Mr. Armstrong began his career as an equity analyst in 1984 and has been covering the retail industry exclusively since 1995. Prior to joining CL King, Mr. Armstrong covered specialty retailers with PMG Capital and Fahnestock & Company. He covered broadlines retailers as an analyst for Salomon Brothers, Inc., and organized and developed the equity research department at Rochdale Investment Management, Inc. While at Standard Research Consultants in New York as an equity analyst, Mr. Armstrong provided closely held security valuations and rendered fairness and solvency opinions in connection with corporate mergers and acquisitions. In 2005 and again in 2009, Mr. Armstrong was named as one of Wall Street's top ranked retail analysts in the annual "Best On the Street" awards survey, conducted by the Wall Street Journal.

Mr. Armstrong earned a BS in Marketing and Management from Montclair State University and holds an MBA in Finance from New York University's Leonard N. Stern School of Business. He is a Chartered Financial Analyst.

Company Coverage Universe

Specialty Retail

A.C. Moore Arts & Crafts, Inc. ACMR
America’s Car-Mart, Inc. CRMT
Barnes & Noble, Inc. BKS
CarMax, Inc. KMX
Cash America International, Inc.CSH
Copart, Inc. CPRT
EZCORP, Inc.EZPW
First Cash Financial Services, Inc.FCFS
Game-Stop Corporation GME
Jo-Ann Stores, Inc. JAS
LKQ Corporation LKQX
Regis CorporationRGS
Rush Enterprises, Inc.RUSHA/RUSHB
Signet Group plc.SIG
Zale Corporation ZLC

Robert M. Goldman, CFA

Senior Vice President and Senior Research Analyst

Robert Goldman joined CL King in 2010 as a Senior Vice President and Senior Analyst covering the Medical Devices and Supplies sector. Mr. Goldman has followed the sector for over 15 years with firms including Salomon Smith Barney and Dean Witter Reynolds. He has been highly ranked several times in All America Research polls published by Institutional Investor and The Wall Street Journal as well as in objective media such as StarMine. He has also served as a healthcare investment banker and worked in the medical devices and supplies industry with Baxter International. Bob served as a Director of Research and Head of Sales and Trading for BNP Paribas and Credit Lyonnais.

Bob earned a B.S. in Chemical Engineering from Rensselaer Polytechnic Institute and an MBA from Harvard University. He is a member of the national engineering and chemistry honorary societies.

Company Coverage Universe

Medical Devices & Supplies

AngioDynamics, Inc. ANGO
Baxter International Inc.BAX
Becton, Dickinson and Company BDX
C.R. Bard BCR
CONMED Corporation CNMD
Hospira, Inc. HSP
Integra LifeSciences Holdings Corp. IART
Invacare CorporationIVC
Steris CorporationSTE

Gary Farber

Vice President and Research Analyst

Gary Farber, who joined CL King in March 2008, is a Senior Equity Analyst with 14 years experience in equity research. On the sell-side, Mr. Farber received consistent Institutional Investor recognition while employed at SG Cowen and SunTrust Robinson Humphrey. As a generalist on the buy-side, Mr. Farber conducted in-depth fundamental research of small- and mid-cap stocks for the high net-worth advisory firm, Rochdale Investment Management.

Mr. Farber is a Certified Public Accountant with an MBA from UCLA and a BA in Accounting from Franklin & Marshall College.

Company Coverage Universe

Industrials/Cyclicals

Anixter InternationalAXE
Belden, Inc.BDC
Chart IndustriesGTLS
CLARCOR, Inc.CLC
Columbus McKinnon Corp.CMCO
Donaldson Company, Inc.DCI
EnPro IndustriesNPO
Exterran Holdings, Inc.EXH
General Cable Corp.BGC
John Bean TechnologiesJBT
Middleby Corp.MIDD
Myers IndustriesMYE
Natural Gas Services GroupNGS
Woodward GovernorWGOV

Michael W. Gallo, CFA

Director, Senior Vice President and Senior Research Analyst

Michael Gallo joined CL King in November 2000. He covers restaurants, franchising and a number of special situations. Prior to joining CL King, Mr. Gallo was an Associate at Focus Partners LLC, developing business strategies and raising venture capital. In 2005 and 2007, Mr. Gallo was named as one of Wall Street's top-ranked restaurant category analysts in the annual "Best On the Street" awards survey, conducted by the Wall Street Journal. And most recently, Mr. Gallo was recognized by the Financial Times/ Starmine as the #1 earnings estimator in Restaurants for 2008.

Mr. Gallo holds a BS in Industrial Engineering from Lehigh University and is a member of AIMR and NYSSA. Mr. Gallo is a Chartered Financial Analyst.

Company Coverage Universe

Restaurants/Franchising

AFC Enterprises, Inc. AFCE
Benihana, Inc. BNHN/BNHNA
Bob Evans FarmsBOBE
CEC Entertainment CEC
Denny’s Corporation DENN
DineEquity, Inc.DIN
Landry’s Restaurants LNY
Steak N Shake SNS
Wendy’s/Arby’s GroupWEN

Special Situations

ABM IndustriesABM
C&D Technologies CHP
EnerSysENS
FreightCar America, Inc. RAIL
Healthcare Services Group HCSG
Joy Global, Inc. JOYG
NBTY, Inc. NTY
Schiff Nutrition International WNI
Technitrol, Inc. TNL
Universal Stainless & Alloy Products, Inc. USAP

Ty Govatos

Senior Vice President and Senior Research Analyst

Ty Govatos joined CL King in January 2003 as a Senior Analyst covering the Business Services sector. Mr. Govatos has 35 years of experience covering different groups including Photography and Electronic Imaging, Business Services and other consumer and industrial sectors at such firms as Donaldson, Lufkin & Jenrette, Prudential Bache and Kuhn Loeb. In 2009, Mr. Govatos was named as one of Wall Street's top ranked business and industrial services analysts in the annual "Best On the Street" awards survey, conducted by the Wall Street Journal.

Mr. Govatos holds a bachelor of science degree from Fordham University.

Company Coverage Universe

Business Services: Traditional

CDI Corporation CDI
Kelley Services, Inc. KELYA
Manpower, Inc.MAN
Spherion CorporationSFN

Business Services: Health

AMN Healthcare Services AHS
Cross Country Healthcare, Inc. CCRN

Business Services: Specialty

Hudson Highland Group HHGP
Monster Worldwide MWW
MPS Group MPS
Robert Half International, Inc. RHI

Business Services: Employee Leasing/PEO

Administaff, Inc.ASF

Business Services: Search Companies

Heidrick & Struggles International, Inc. HSII
Korn/Ferry International KFY

Business Services: Teleservices

Sykes Enterprises, Inc. SYKE
TeleTech Holdings, Inc. TTEC

Business Services: Other

RR Donnelley & Sons Co. RRD

Steven L. Marotta, CFA

Vice President, Equity Research

Steven L. Marotta joined CL King in May 2010 as Vice President of Equity Research focusing on the footwear and apparel vendor sectors within the consumer industry. Mr. Marotta began his career in 1992 and has since spent the vast majority of time following consumer-related companies. Prior to joining CL King, Mr. Marotta spent eight years on the buy side as a research analyst with Maple Leaf Partners, Wyper Capital Management and Diker Management. Prior to that, he spent more than 10 years on the sell-side, most recently at Wasserstein Perella, now Dresdner Kleinwort Wasserstein. He was named the number one Textile & Apparel analyst in the Wall Street Journal’s “Best on the Street” annual survey in 1999 and was a runner-up the following year.

Mr. Marotta is a CFA and a member of both the CFA Institute and the New York Society of Security Analysts. He holds a BA in Economics from the State University of New York at Stony Brook and an MA in Economics from the State University of New York at Albany.

Company Coverage Universe

Apparel/Textiles

Genesco, Inc. GCO
Steven Madden, Ltd.SHOO

Ross Taylor

Senior Vice President and Senior Research Analyst

Ross Taylor, who joined CL King in 2005, has more than 13 years of Wall Street experience on both the buy- and sell-side. Mr. Taylor began his Wall Street career at C.J. Lawrence in 1992, where he was a restaurant and soft drink analyst. In 1996, he moved to Smith Barney, where he was a senior equity research analyst covering healthcare services, with a specialization in dialysis, clinical lab, imaging and health care REIT sectors. Mr. Taylor joined UBS Warburg in 1999 as a director and biotechnology equity research analyst. Most recently, Mr. Taylor worked as a research analyst at Healthpoint Capital, a medical technology private equity fund, where he researched and evaluated early-stage private and public companies in the medical technology industry.

Ross has an MBA in accounting and finance from Columbia Business School and completed his undergraduate studies in Economics at Duke University. He has completed the CFA level II exam.

Company Coverage Universe

Medical Devices

Abaxis, Inc. ABAX
IDEXX Laboratories IDXX
Meridian BioscienceVIVO
Merit Medical Systems MMSI
Natus Medical, Inc.BABY
Patterson Companies Inc.PDCO
PetMed ExpressPETS
Quidel CorporationQDEL
Sirona Dental Systems SIRO
SurModics, Inc. SRDX
VCA Antech, Inc. WOOF
West Pharmaceutical Services, Inc. WST
MWI Veterinary Supply, Inc.MWIV

Lawrence M. Harris

Senior Vice President and Senior Research Analyst

Mr. Harris joined CL King in January 2008 as a Senior Vice President in the Equity Research department. He covers the telecommunications equipment industry.

During his career he has followed several areas in communications technology, including wireless, wireline, cable and networking at Oppenheimer & Co., H.C. Wainwright, Josephthal and Bear Stearns. He was also a senior financial consultant at Arthur D. Little, working on M&A assignments, and as a manager of financial planning and analysis at Rockwell International’s aircraft division.

In 2003 and 2004, Mr. Harris was named as one of the "Best on the Street" for stock selection in communications technology by the Wall Street Journal. In 2006, Forbes/StarMine rated him as the most accurate earnings estimator in the communications equipment sector.

Mr. Harris has also spoken at a number of conferences, including the Strategic Research Institute Telecom M&A Conference, the Wall Street Analyst Forum and the annual UCLA Wireless Internet for Mobile Enterprise Consortium (WINMEC) convention.

Mr. Harris earned an AB in Economics from Lafayette College and an MBA in Finance and International Business from the University of Chicago.

Company Coverage Universe

Telecommunications Equipment

ADC Telecommunications. Inc.ADCT
Alvarion Ltd.ALVR
ARRIS Group, Inc.ARRS
Ceragon Networks Ltd.CRNT
Harmonic Inc.HLIT
Harris CorporationHRS
Hughes Communications, Inc.HUGH
Palm, Inc.PALM
Powerwave Technologies, Inc.PWAV
Smith Micro Software, Inc.SMSI
Starent Networks, Corp.STAR
TekelecTKLC
Tellabs, Inc.TLAB

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Jim Barrett

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William R. Armstrong, CFA

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James B. Boyle

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Gary Farber

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Michael W. Gallo, CFA

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Robert M. Goldman, CFA

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Ty Govatos

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Steven L. Marotta, CFA

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Ross Taylor

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Lawrence M. Harris