Esco Technologies (ESE) posted strong results late last week and traders bid up the stock sending shares on a breakout ride above previous resistance.  The company posted an EPS of .40/share vs the analyst estimate of .33/share on revenues of $160 million vs the analyst estimate of $154 million.  It  represents the 4th straight quarter of accelerating EPS and revenue growth.

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Esco isn’t quite a green pure play as most of the green stocks I cover are, but the company has a significant presence in the smart grid space and it represents growth driver for the company.

CEO Vic Richey commented:

"I’m extremely satisfied with our start for fiscal 2011 as we exceeded our internal operating goals. Our Utility Solutions Group continues its solid performance, and our ongoing investments in new products and advanced technologies continue to solidify our market position in the fast-growing Smart Grid area. As I’ve noted before, we are fully committed to expanding our product offering and related solutions and being recognized as a leading provider of next generation technologies for the Smart Grid."

"We expect our long-term growth projections will be led by the largest AMI gas project in North America, supplemented by our international AMI opportunities in Mexico, South America and Asia, and complemented by our expected domestic growth across all three operating segments.

"Our COOP, Gas and Water AMI business opportunities remain very strong, and our market-leading position at Doble should allow us to migrate our domestic success to our targeted international opportunities.

The company sees both EPS and revenue increasing 10 –15% this year over last.

As mentioned at the open, shares of ESE broke  out of a base with heavy volume Friday, creating a nice entry point in a real solid company.