This write-up would focus more on the important points of Armstrong instead of a full write up. Armstrong’s latest results exceeded my expectation and had an EPS of 4.97 cents in FY10. Growth in net profit has been organic, with other operating income accounts for only 0.45% of the entire revenue and a low amount of growth compared to the growth in revenue and net profit. Not only did Armstrong surpass my expectation, they also surpassed their own by having a record revenue of 225.4 million. Automotive The reason why Armstrong was able to perform so well this year is due to the good performance from the automotive segment. The automotive segment improved from a contribution of 27% to the revenue in year 2009 to a contribution of 31% to the revenue in year 2010. In terms of numbers, automotive segment increased its profit by 46.95%, ......