-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, KlXvw3G6tgni0Aex1dDF+I999IZrjMaupNOL/f/1n5B05jCtMBPiZzExoMOjZrnS FkxOMIDuddLJYaFnwBNc9Q== 0001144204-07-055179.txt : 20071019 0001144204-07-055179.hdr.sgml : 20071019 20071019125713 ACCESSION NUMBER: 0001144204-07-055179 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20070930 FILED AS OF DATE: 20071019 DATE AS OF CHANGE: 20071019 EFFECTIVENESS DATE: 20071019 FILER: COMPANY DATA: COMPANY CONFORMED NAME: EMERALD ADVISERS INC/PA CENTRAL INDEX KEY: 0001015083 IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-05618 FILM NUMBER: 071180494 BUSINESS ADDRESS: STREET 1: 1857 WILLIAM PENN WAY STREET 2: SUITE 203 CITY: LANCASTER STATE: PA ZIP: 17601 BUSINESS PHONE: 7173961116 13F-HR 1 v090781_13f-hr.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: September 30, 2007 Check here if Amendment |_|; Amendment Number: ___ This Amendment (Check only one.): |_| is a restatement. |_| adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Emerald Advisers, Inc. Address: 1703 Oregon Pike Suite 101 Lancaster, PA 17601 Form 13F File Number: 028-05618 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Kenneth G. Mertz II Title: President Phone: 717-396-1116 Signature, Place, and Date of Signing: /s/ Kenneth G. Mertz II Lancaster, Pennsylvania October 19, 2007 Report Type (Check only one.): |x| 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report. |_| 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) |_| 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: None. Form 13F SUMMARY PAGE REPORT SUMMARY: NUMBER OF OTHER INCLUDED MANAGERS: 0 FORM 13F INFORMATION TABLE ENTRY TOTAL: 341 FORM 13F INFORMATION TABLE VALUE TOTAL: $2,035,665 (thousands) List of other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. [If there are no entries in this list, state NONE and omit the column headings and list entries.] NONE PAGE 1 EMERALD ADVISERS FORM 13F INFORMATION TABLE AS OF DATE: 09/30/07
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE - ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- 99 CENTS ONLY STORES COM COM 65440K106 8359 813968 SH SOLE 577728 0 236240 AAR CORP COM COM 000361105 18530 610760 SH SOLE 431260 0 179500 AARON RENTS INC CL B COM 002535201 7693 344998 SH SOLE 244411 0 100587 ABINGTON COMMUNITY BANCORP COM 00350L109 577 59200 SH SOLE 0 0 59200 ACCESS NATL CORP COM COM 004337101 207 26116 SH SOLE 26116 0 0 ACNB CORP COM COM 000868109 258 14945 SH SOLE 420 0 14525 ACTIVISION INC NEW COM NEW COM 004930202 734 33994 SH SOLE 33994 0 0 ADAMS RESPIRATORY THERAPEUTICO COM 00635P107 5673 147204 SH SOLE 103644 0 43560 ADOBE SYS INC COM COM 00724F101 342 7834 SH SOLE 7834 0 0 ADVANTA CORP CL B COM 007942204 8125 296316 SH SOLE 52775 0 243541 ADVENTRX PHARMACEUTICALS INCCO COM 00764X103 6353 2469650 SH SOLE 1716650 0 753000 AES CORP COM COM 00130H105 1002 50008 SH SOLE 50008 0 0 AFFILIATED MANAGERS GROUP INCO COM 008252108 1852 14528 SH SOLE 14528 0 0 AIRGAS INC COM COM 009363102 50154 971409 SH SOLE 557307 0 414102 ALLEGHENY TECHNOLOGIES INC COM COM 01741R102 5225 47524 SH SOLE 8624 0 38900 ALLERGAN INC COM COM 018490102 682 10572 SH SOLE 10572 0 0 ALLSCRIPTS HEALTHCARE SOLUTICO COM 01988P108 16872 624193 SH SOLE 448813 0 175380 AMERICAN CAMPUS CMNTYS INC COM COM 024835100 284 9700 SH SOLE 9700 0 0 AMERICAN EAGLE OUTFITTERS INC. COM 02553E106 4033 153300 SH SOLE 11600 0 141700 AMERICAN INTL GROUP INC COM COM 026874107 270 3992 SH SOLE 3992 0 0 AMERICAN MED SYS HLDGS INC COM COM 02744M108 9995 589703 SH SOLE 415081 0 174622 AMERICAN TOWER CORP CL A COM 029912201 690 15857 SH SOLE 15857 0 0 AMETEK INC NEW COM COM 031100100 8771 202945 SH SOLE 14645 0 188300 AMIS HLDGS INC COM COM 031538101 5766 593820 SH SOLE 417330 0 176490 AMTRUST FINANCIAL SERVICES ICO COM 032359309 323 21300 SH SOLE 21300 0 0 ANADIGICS INC COM COM 032515108 27678 1530861 SH SOLE 1093536 0 437325 ANALOGIC CORP COM PAR $0.05 COM 032657207 8253 129443 SH SOLE 97556 0 31887 ANSOFT CORP COM COM 036384105 26168 793459 SH SOLE 349726 0 443733 ANSYS INC COM COM 03662Q105 49803 1457510 SH SOLE 768197 0 689313 APOGEE ENTERPRISES INC COM COM 037598109 18993 732199 SH SOLE 520516 0 211683 AQUA AMERICA INC COM 03836W103 6812 300331 SH SOLE 47398 0 252933 ASSURANT INC COM COM 04621X108 355 6634 SH SOLE 6634 0 0 ATHEROS COMMUNICATIONS INC COM COM 04743P108 14975 499670 SH SOLE 353070 0 146600 AUXILIUM PHARMACEUTICALS INCCO COM 05334D107 2692 127700 SH SOLE 7700 0 120000 AVIZA TECHNOLOGY INC COM COM 05381A105 251 72859 SH SOLE 66072 0 6787 BAKER MICHAEL CORP COM COM 057149106 17737 361913 SH SOLE 47578 0 314335 BALL CORP COM COM 058498106 760 14138 SH SOLE 14138 0 0 BANK OF AMER CORP COM COM 060505104 353 7016 SH SOLE 7016 0 0 BANK OF THE OZARKS INC COM COM 063904106 548 17939 SH SOLE 17939 0 0 BANKRATE INC COM COM 06646V108 12829 278168 SH SOLE 196748 0 81420 BARE ESCENTUALS INC COM 067511105 12157 488806 SH SOLE 353711 0 135095 BE AEROSPACE INC COM COM 073302101 37524 903535 SH SOLE 640425 0 263110 BIOMIMETIC THERAPEUTICS INC CO COM 09064X101 3365 252239 SH SOLE 180556 0 71683 BIO-REFERENCE LABS INC COM PAR COM 09057G602 19366 573632 SH SOLE 405761 0 167871 BLACK BOX CORP COM COM 091826107 1193 27900 SH SOLE 2100 0 25800 BLACKBOARD INC COM COM 091935502 38646 843067 SH SOLE 575506 0 267561 BROADCOM CORP COM COM 111320107 726 19933 SH SOLE 19933 0 0 BROCADE COMMUNICATIONS SYS ICO COM 111621306 11749 1372599 SH SOLE 934409 0 438190 BROOKE CORP COM COM 112502109 169 17042 SH SOLE 17042 0 0 BUSINESS OBJECTS S A SPONSORED COM 12328X107 377 8409 SH SOLE 8409 0 0 C COR ELECTRS INC COM COM 125010108 971 84500 SH SOLE 8200 0 76300
PAGE 2 EMERALD ADVISERS FORM 13F INFORMATION TABLE AS OF DATE: 09/30/07
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE - ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- C H ROBINSON WORLDWIDE INC COM COM 12541W209 571 10511 SH SOLE 10511 0 0 CALGON CARBON CORP COM COM 129603106 2681 192037 SH SOLE 14524 0 177513 CALIFORNIA PIZZA KITCHEN INCCO COM 13054D109 7795 443672 SH SOLE 318092 0 125580 CALLIDUS SOFTWARE INC COM COM 13123E500 803 93348 SH SOLE 84590 0 8758 CAMDEN NATL CORP COM COM 133034108 325 9300 SH SOLE 9300 0 0 CAMERON INTERNATIONAL CORP COM COM 13342B105 931 10084 SH SOLE 10084 0 0 CARDIOME PHARMA CORP COM NEW COM 14159U202 5082 538344 SH SOLE 364638 0 173706 CARLISLE COS INC COM COM 142339100 369 7601 SH SOLE 7601 0 0 CARPENTER TECHNOLOGY CORP COM COM 144285103 3081 23700 SH SOLE 1600 0 22100 CARRIZO OIL & GAS INC COM COM 144577103 20376 454213 SH SOLE 321077 0 133136 CASCADE FINL CORP COM COM 147272108 544 35517 SH SOLE 35517 0 0 CELGENE CORP COM COM 151020104 704 9869 SH SOLE 9869 0 0 CENTRAL PACIFIC FINANCIAL CORP COM 154760102 268 9170 SH SOLE 9170 0 0 CEPHEID COM COM 15670R107 14559 638559 SH SOLE 445116 0 193443 CGG VERITAS SPONSORED ADR COM 204386106 430 6607 SH SOLE 6607 0 0 CHARLES RIV LABORATORIES INTCO COM 159864107 345 6143 SH SOLE 6143 0 0 CHARMING SHOPPES INC COM COM 161133103 1013 120600 SH SOLE 8900 0 111700 CHEVRONTEXACO CORPORATION COM 166764100 389 4155 SH SOLE 4155 0 0 CHIQUITA BRANDS INTL INC COM COM 170032809 10553 666615 SH SOLE 470681 0 195934 CHURCH & DWIGHT CO COM 171340102 651 13832 SH SOLE 13832 0 0 CIENA CORP COM 171779309 2943 77289 SH SOLE 14989 0 62300 CITIGROUP INC COM COM 172967101 338 7244 SH SOLE 7244 0 0 CLAYMONT STEEL HOLDINGS INC CO COM 18382P104 8461 417817 SH SOLE 298814 0 119003 COACH INC COM COM 189754104 1214 25690 SH SOLE 25690 0 0 COBIZ INC COM COM 190897108 565 33009 SH SOLE 33009 0 0 CODORUS VALLEY BANCORP COM COM 192025104 1454 80752 SH SOLE 6524 0 74228 COGENT COMMUNICATIONS GROUP CO COM 19239V302 5287 226501 SH SOLE 158272 0 68229 COGNIZANT TECHNLGY SLTNS CORCL COM 192446102 9869 123691 SH SOLE 91092 0 32599 COLDWATER CREEK INC COM COM 193068103 4960 456676 SH SOLE 322996 0 133680 COLONIAL BANCGROUP INC COM COM 195493309 640 29600 SH SOLE 29600 0 0 COMPASS DIVERSIFIED TR COM 20451Q104 5282 328918 SH SOLE 83425 0 245493 CONOCOPHILLIPS COM COM 20825C104 275 3132 SH SOLE 3132 0 0 CONTINENTAL RESOURCES INC COM COM 212015101 411 22643 SH SOLE 22643 0 0 COPA HOLDINGS SA CL A COM P31076105 336 8381 SH SOLE 8381 0 0 CORRECTIONS CORP AMER NEW COM COM 22025Y407 787 30081 SH SOLE 30081 0 0 COVANTA HLDG CORP COM COM 22282E102 508 20720 SH SOLE 20720 0 0 CROCS INC COM COM 227046109 39786 591613 SH SOLE 407857 0 183756 CROWN HOLDINGS INC COM COM 228368106 1866 82000 SH SOLE 6200 0 75800 CULLEN FROST BANKERS INC COM COM 229899109 364 7267 SH SOLE 7267 0 0 CYPRESS SEMICONDUCTOR CORP COM COM 232806109 420 14389 SH SOLE 14389 0 0 C&D TECHNOLOGIES INC COM COM 124661109 2726 547400 SH SOLE 37500 0 509900 DAKTRONICS INC COM COM 234264109 4014 147480 SH SOLE 103760 0 43720 DALECO RES CORP COM NEW COM 23437P208 172 687500 SH SOLE 0 0 687500 DEMANDTEC INC COM 24802R506 4855 355659 SH SOLE 256477 0 99182 DENTSPLY INTL INC NEW COM COM 249030107 6219 149346 SH SOLE 11600 0 137746 DEVRY INC COM COM 251893103 492 13285 SH SOLE 13285 0 0 DIAMOND MGMT & TECHNOLOGY COM 25269L106 9511 1033788 SH SOLE 732495 0 301293 DIAMOND OFFSHORE DRILLNG INCCO COM 25271C102 552 4876 SH SOLE 4876 0 0 DICKS SPORTING GOODS INC OC-CO COM 253393102 6934 103255 SH SOLE 7955 0 95300 DIODES INC COM COM 254543101 9830 306217 SH SOLE 197189 0 109028 DOLBY LABORATORIES INC COM COM 25659T107 712 20450 SH SOLE 20450 0 0
PAGE 3 EMERALD ADVISERS FORM 13F INFORMATION TABLE AS OF DATE: 09/30/07
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE - ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- DONEGAL GROUP INC J CL A COM 257701201 1732 107073 SH SOLE 7747 0 99326 EAST PENN FINL CORP COM COM 274287101 2849 202661 SH SOLE 29135 0 173526 EAST WEST BANCORP INC COM COM 27579R104 934 25964 SH SOLE 25964 0 0 EASTERN INS HLDGS INC COM COM 276534104 1121 72500 SH SOLE 6700 0 65800 ELECTRONIC ARTS INC COM COM 285512109 346 6180 SH SOLE 6180 0 0 EMERGENCY MEDICAL SVCS CORP CL COM 29100P102 5689 188050 SH SOLE 132350 0 55700 ENCORE BANCSHARES INC COM 29255V201 231 11000 SH SOLE 11000 0 0 ENERGIZER HLDGS INC COM COM 29266R108 753 6791 SH SOLE 6791 0 0 ENTERCOM COMMUNICATIONS CORP COM 293639100 760 39300 SH SOLE 2400 0 36900 ENTERPRISE FINL SVCS CORP COM COM 293712105 396 16278 SH SOLE 16278 0 0 ENVIRONMENTAL TECTONICS CORPCO COM 294092101 2143 630331 SH SOLE 216788 0 413543 EQUITABLE RES INC COM COM 294549100 2189 42200 SH SOLE 3200 0 39000 ERIE INDTY CO CL A COM 29530P102 4532 74143 SH SOLE 10640 0 63503 EXXON CORPORATION COM 30231G102 742 8015 SH SOLE 8015 0 0 F N B CORP PA COM COM 302520101 4135 250000 SH SOLE 41400 0 208600 F N B CORP VA COM COM 302930102 214 7111 SH SOLE 7111 0 0 FACTSET RESH SYS INC COM COM 303075105 554 8080 SH SOLE 8080 0 0 FAIRCHILD SEMICONDUCTOR INTLCL COM 303726103 7656 409875 SH SOLE 288605 0 121270 FEI CO COM COM 30241L109 8704 276937 SH SOLE 194947 0 81990 FELCOR LODGING TR INC COM COM 31430F101 299 15000 SH SOLE 15000 0 0 FIDELITY BANCORP INC COM COM 315831107 244 15758 SH SOLE 15758 0 0 FIRST MERCURY FINANCIAL CORP COM 320841109 697 32400 SH SOLE 32400 0 0 FIRST REGIONAL BANCORP COM COM 33615C101 1026 41835 SH SOLE 41835 0 0 FIRST SECURITY GROUP INC COM 336312103 129 12900 SH SOLE 12900 0 0 FIRST ST BANCORPORATION COM COM 336453105 236 12000 SH SOLE 12000 0 0 FLIR SYS INC COM COM 302445101 6974 125912 SH SOLE 91732 0 34180 FORMFACTOR INC COM COM 346375108 16151 364006 SH SOLE 260946 0 103060 FOSTER L B CO COM COM 350060109 3897 89675 SH SOLE 6883 0 82792 FOUNDRY NETWORKS INC COM 35063R100 5207 293050 SH SOLE 206350 0 86700 GAMESTOP CORPORATION CLASS A COM 36467W109 797 14144 SH SOLE 14144 0 0 GATEWAY FINL HLDGS INC COM COM 368140109 375 23880 SH SOLE 23880 0 0 GAYLORD ENTMT CO NEW COM COM 367905106 539 10119 SH SOLE 10119 0 0 GENERAL ELEC CO COM 369604103 295 7129 SH SOLE 7129 0 0 GENTEX CORP COM COM 371901109 654 30524 SH SOLE 30524 0 0 GEN-PROBE INC NEW COM COM 36866T103 37591 564598 SH SOLE 366558 0 198040 GEO GROUP INC COM 36159R103 8483 286500 SH SOLE 201300 0 85200 GLATFELTER P H CO COM COM 377316104 2342 157800 SH SOLE 13100 0 144700 GOLDMAN SACHS GROUP INC COM COM 38141G104 215 990 SH SOLE 990 0 0 GOODRICH B F CO COM COM 382388106 853 12498 SH SOLE 12498 0 0 GREIF BROS CORP COM 397624107 9836 162095 SH SOLE 115295 0 46800 GSI COMM INC COM COM 36238G102 19567 735614 SH SOLE 369194 0 366420 HARLEYSVILLE NATL CORP PA COM COM 412850109 699 44000 SH SOLE 2600 0 41400 HARRIS CORP DEL COM COM 413875105 1105 19118 SH SOLE 19118 0 0 HARSCO CORP COM COM 415864107 7479 126187 SH SOLE 28387 0 97800 HEALTH BENEFITS DIRECT CORP CO COM 42220V107 596 271000 SH SOLE 19100 0 251900 HEALTHCARE SVCS GROUP INC COM COM 421906108 371 18300 SH SOLE 1050 0 17250 HEARTLAND FINL USA INC COM COM 42234Q102 204 9915 SH SOLE 9915 0 0 HELIX ENERGY SOLUTIONS GRP INC COM 42330P107 721 16977 SH SOLE 16977 0 0 HERBALIFE LTD COM USD SHS COM G4412G101 365 8027 SH SOLE 8027 0 0 HERSHA HOSPITALITY TR PRIORITY COM 427825104 3916 395600 SH SOLE 66400 0 329200 HIBBETT SPORTS INC COM COM 428567101 3615 145767 SH SOLE 104813 0 40954
PAGE 4 EMERALD ADVISERS FORM 13F INFORMATION TABLE AS OF DATE: 09/30/07
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE - ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- HOLOGIC INC COM 436440101 8023 131524 SH SOLE 94074 0 37450 HORNBECK OFFSHORE SVCS INC NCO COM 440543106 9711 264617 SH SOLE 186466 0 78151 HORSEHEAD HOLDING CORP COM 440694305 5213 232500 SH SOLE 15600 0 216900 ICONIX BRAND GROUP INC COM COM 451055107 30509 1282420 SH SOLE 877962 0 404458 IDEXX LABORATORIES CORP COM COM 45168D104 315 2874 SH SOLE 2874 0 0 IGATE CAPITAL CO COM 45169U105 504 58767 SH SOLE 3903 0 54864 II-VI INC COM COM 902104108 34785 1007393 SH SOLE 524195 0 483198 ILLUMINA INC COM COM 452327109 4470 86151 SH SOLE 62851 0 23300 IMMUCOR INC COM COM 452526106 5223 146109 SH SOLE 108399 0 37710 INNOVATIVE SOLUTIONS & SUPPOCO COM 45769N105 804 42400 SH SOLE 3300 0 39100 INTEGRA LIFESCIENCES HLDG COCO COM 457985208 6604 135949 SH SOLE 93700 0 42249 INTERCONTINENTALEXCHANGE INCCO COM 45865V100 973 6406 SH SOLE 6406 0 0 INTERDIGITAL INC PA COM 45867G101 3139 151037 SH SOLE 11400 0 139637 INTERNAP NETWORK SERVICES CORP COM 45885A300 10500 741037 SH SOLE 528682 0 212355 INTERNATIONAL BANCSHARES CORCO COM 459044103 344 15859 SH SOLE 15859 0 0 INTERNATIONAL GAME TECH COM COM 459902102 693 16076 SH SOLE 16076 0 0 INTERNET CAPITAL GROUP INC (NE COM 46059C205 18550 1545802 SH SOLE 740543 0 805259 INTERSIL HLDG CORP CL A COM 46069S109 560 16740 SH SOLE 16740 0 0 INVESTMENT TECHNOLOGY GRP NECO COM 46145F105 370 8600 SH SOLE 8600 0 0 IRIS INTL INC COM COM 46270W105 6010 313038 SH SOLE 220352 0 92686 ITRON INC COM COM 465741106 6273 67403 SH SOLE 47423 0 19980 ITT INDS INC IND COM COM 450911102 820 12065 SH SOLE 12065 0 0 IXIA COM COM 45071R109 12963 1486596 SH SOLE 1068027 0 418569 J2 GLOBAL COMMUNICATONS INC CO COM 46626E205 6269 191551 SH SOLE 135067 0 56484 JABIL CIRCUIT INC COM COM 466313103 514 22524 SH SOLE 22524 0 0 JARDEN CORP COM COM 471109108 1160 37503 SH SOLE 23003 0 14500 JONES LANG LASALLE INC COM COM 48020Q107 966 9400 SH SOLE 9400 0 0 JPMORGAN CHASE & CO COM COM 46625H100 269 5873 SH SOLE 5873 0 0 KENEXA CORP COM COM 488879107 20900 679019 SH SOLE 383563 0 295456 KENNAMETAL INC COM COM 489170100 24716 294310 SH SOLE 155210 0 139100 KENSEY NASH CORP COM COM 490057106 581 22255 SH SOLE 1570 0 20685 KMG CHEMICALS INC COM COM 482564101 4640 177100 SH SOLE 14250 0 162850 KOPPERS HOLDINGS INC COM 50060P106 6085 157600 SH SOLE 12000 0 145600 KULICKE & SOFFA INDS INC COM COM 501242101 4563 538100 SH SOLE 40600 0 497500 LADISH INC COM NEW COM 505754200 24667 444618 SH SOLE 315412 0 129206 LAKELAND FINL CORP COM COM 511656100 280 12127 SH SOLE 12127 0 0 LEESPORT FINL CORP COM COM 524477106 939 48853 SH SOLE 1307 0 47546 LIBERTY GLOBAL INC COM SER A COM 530555101 1330 32416 SH SOLE 32416 0 0 LIFECELL CORP COM COM 531927101 32556 866538 SH SOLE 609493 0 257045 LIFETIME BRANDS INC COM COM 53222Q103 8231 405646 SH SOLE 291734 0 113912 LIMCO PIEDMONT INC COM COM 53261T109 323 24365 SH SOLE 22107 0 2258 LOOPNET INC COM 543524300 19520 950339 SH SOLE 675152 0 275187 LUFKIN INDS INC COM 549764108 8153 148191 SH SOLE 104618 0 43573 MARVEL ENTERTAINMENT INC COM 57383T103 19166 817675 SH SOLE 585623 0 232052 MASIMO CORPORATION COM 574795100 1868 72782 SH SOLE 54263 0 18519 MASTERCARD INC CL A COM 57636Q104 473 3194 SH SOLE 3194 0 0 MATTHEWS INTL CORP CL A COM 577128101 1857 42400 SH SOLE 2500 0 39900 MCDERMOTT INTL INC COM COM 580037109 613 11328 SH SOLE 11328 0 0 MEADOWBROOK INS GROUP INC COM COM 58319P108 168 18700 SH SOLE 18700 0 0 MEDCO HEALTH SOLUTIONS INC COM COM 58405U102 1008 11156 SH SOLE 11156 0 0 MEMC ELECTR MATLS INC COM COM 552715104 959 16290 SH SOLE 16290 0 0
PAGE 5 EMERALD ADVISERS FORM 13F INFORMATION TABLE AS OF DATE: 09/30/07
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE - ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- MENTOR CORP MINN COM COM 587188103 538 11677 SH SOLE 11677 0 0 MERCER INS GROUP INC COM COM 587902107 214 12100 SH SOLE 12100 0 0 MET PRO CORP COM COM 590876306 6581 407223 SH SOLE 89437 0 317786 METROCORP BANCSHARES INC COM COM 591650106 497 30884 SH SOLE 30884 0 0 METTLER-TOLEDO INTL INC COM COM 592688105 1478 14488 SH SOLE 14488 0 0 MGM GRAND INC COM COM 552953101 741 8281 SH SOLE 8281 0 0 MICROS SYS INC COM COM 594901100 13564 208460 SH SOLE 146640 0 61820 MICROSEMI CORP COM COM 595137100 28996 1040037 SH SOLE 705345 0 334692 MICROSOFT CORP COM COM 594918104 226 7667 SH SOLE 7667 0 0 MICRUS ENDOVASCULAR CORP COM COM 59518V102 8269 452576 SH SOLE 314090 0 138486 MIDWESTONE FINL GROUP INC COM COM 598510105 256 14064 SH SOLE 14064 0 0 MILLICOM INTL CELLULAR S A SHS COM L6388F110 599 7137 SH SOLE 7137 0 0 MINE SAFETY APPLIANCES CO COM 602720104 2394 50810 SH SOLE 3810 0 47000 MITCHAM INDS INC COM COM 606501104 763 39564 SH SOLE 36374 0 3190 MOLDFLOW CORP COM COM 608507109 7423 385433 SH SOLE 274259 0 111174 MYRIAD GENETICS INC COM COM 62855J104 26115 500772 SH SOLE 356200 0 144572 NATIONAL RETAIL PROPERTIES INC COM 637417106 280 11500 SH SOLE 11500 0 0 NATIONAL-OILWELL INC COM COM 637071101 518 7176 SH SOLE 7176 0 0 NAVIGATORS GROUP INC COM COM 638904102 738 13600 SH SOLE 13600 0 0 NEUSTAR INC-CLASS A COM 64126X201 485 14145 SH SOLE 14145 0 0 NII HLDGS INC CL B NEW COM 62913F201 742 9028 SH SOLE 9028 0 0 NORTHERN TR CORP COM COM 665859104 624 9417 SH SOLE 9417 0 0 NOVATEL WIRELESS INC COM NEW COM 66987M604 20596 909327 SH SOLE 649625 0 259702 NUANCE COMMUNICATIONS INC COM 67020Y100 6235 322879 SH SOLE 219499 0 103380 NUTRI SYS INC NEW COM COM 67069D108 18146 386989 SH SOLE 206515 0 180474 NUVASIVE INC COM COM 670704105 3919 109065 SH SOLE 76842 0 32223 NVIDIA CORP COM COM 67066G104 1307 36065 SH SOLE 36065 0 0 ON ASSIGNMENT INC COM COM 682159108 7280 779421 SH SOLE 544387 0 235034 ON SEMICONDUCTOR CORP COM COM 682189105 13790 1097936 SH SOLE 794116 0 303820 ORASURE TECHNOLOGIES INC COM COM 68554V108 4193 417200 SH SOLE 31900 0 385300 ORRSTOWN FINL SVCS INC COM COM 687380105 2376 74871 SH SOLE 3674 0 71197 ORTHOVITA INC COM COM 68750U102 627 207078 SH SOLE 11400 0 195678 PARAGON TECHNOLOGIES INC COM COM 69912T108 1588 217590 SH SOLE 2525 0 215065 PEABODY ENERGY CORP COM COM 704549104 422 8815 SH SOLE 8815 0 0 PENN VIRGINIA CORP COM 707882106 7006 159300 SH SOLE 12000 0 147300 PENNEY J C INC COM COM 708160106 655 10340 SH SOLE 10340 0 0 PENNS WOODS BANCORP INC COM COM 708430103 1442 45092 SH SOLE 2240 0 42852 PENNSYLVANIA COMM BANCORP INCO COM 708677109 316 9999 SH SOLE 0 0 9999 PETSMART INC COM COM 716768106 334 10473 SH SOLE 10473 0 0 PHASE FORWARD INC COM COM 71721R406 18606 929842 SH SOLE 665964 0 263878 PHILADELPHIA CONS HLDG CORP CO COM 717528103 8778 212339 SH SOLE 50215 0 162124 PINNACLE ENTMT INC COM COM 723456109 4646 170624 SH SOLE 119824 0 50800 PINNACLE FINL PARTNERS INC COM COM 72346Q104 372 12918 SH SOLE 12918 0 0 POLYCOM INC COM COM 73172K104 7614 283482 SH SOLE 199979 0 83503 PRECISION CASTPARTS CORP COM COM 740189105 660 4461 SH SOLE 4461 0 0 PREFERRED BANK LOS ANGELES COM 740367107 1014 25767 SH SOLE 25767 0 0 PRICE T ROWE GROUP INC COM COM 74144T108 434 7796 SH SOLE 7796 0 0 PRIVATEBANCORP INC COM COM 742962103 582 16700 SH SOLE 16700 0 0 PROSPERITY BANCSHARES INC COM COM 743606105 21130 637227 SH SOLE 430729 0 206498 PSYCHIATRIC SOLUTIONS INC COM COM 74439H108 35989 916215 SH SOLE 664255 0 251960 QUICKSILVER RES INC COM COM 74837R104 354 7523 SH SOLE 7523 0 0
PAGE 6 EMERALD ADVISERS FORM 13F INFORMATION TABLE AS OF DATE: 09/30/07
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE - ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- RELIANCE STL & ALUM CO COM COM 759509102 455 8055 SH SOLE 8055 0 0 REPUBLIC FIRST BANCORP INC COM COM 760416107 815 101840 SH SOLE 5990 0 95850 RESPIRONICS INC COM COM 761230101 6037 125684 SH SOLE 9547 0 116137 RITE AID CORP COM COM 767754104 1292 279600 SH SOLE 0 0 279600 RIVERBED TECHNOLOGY INC COM COM 768573107 367 9094 SH SOLE 9094 0 0 ROPER INDS INC NEW COM COM 776696106 522 7972 SH SOLE 7972 0 0 SALESFORCE.COM INC COM 79466L302 528 10292 SH SOLE 10292 0 0 SANDERS MORRIS HARRIS GROUP CO COM 80000Q104 301 29680 SH SOLE 29680 0 0 SANDISK CORP COM COM 80004C101 1310 23769 SH SOLE 23769 0 0 SANDY SPRING BANCORP INC CMT-C COM 800363103 470 15605 SH SOLE 15605 0 0 SAVVIS INC COM NEW COM 805423308 10921 281390 SH SOLE 198120 0 83270 SBA COMMUNICATIONS CORP CL A COM 78388J106 23397 663176 SH SOLE 479616 0 183560 SEABRIGHT INSURANCE HLDGS INCO COM 811656107 357 20900 SH SOLE 20900 0 0 SEI INVTS CO COM COM 784117103 4623 169453 SH SOLE 32103 0 137350 SEMITOOL INC COM COM 816909105 1200 123677 SH SOLE 85433 0 38244 SHORETEL INC COM COM 825211105 2529 176599 SH SOLE 124259 0 52340 SIGNATURE BK NEW YORK N Y COM COM 82669G104 639 18146 SH SOLE 18146 0 0 SIRF TECHNOLOGY HLDGS INC COM COM 82967H101 3107 145510 SH SOLE 102100 0 43410 SKYWORKS SOLUTIONS INC COM COM 83088M102 11997 1327117 SH SOLE 945652 0 381465 SMITH MICRO SOFTWARE INC COM COM 832154108 22922 1427303 SH SOLE 921194 0 506109 SMITH & WESSON HLDG CORP COM COM 831756101 27206 1425125 SH SOLE 1012255 0 412870 SMITHTOWN BANCORP INC COM COM 832449102 1451 62397 SH SOLE 59367 0 3030 SOTHEBY HLDGS INC CL A COM 835898107 349 7306 SH SOLE 7306 0 0 SOUTHWEST BANCORP INC OKLA COM COM 844767103 338 17984 SH SOLE 17984 0 0 SPECTRANETICS CORP COM COM 84760C107 7558 560717 SH SOLE 407344 0 153373 SPSS INC COM COM 78462K102 16033 389722 SH SOLE 273273 0 116449 STARLIMS TECHNOLOGIES LTD SHS COM M8484K109 1723 152089 SH SOLE 108928 0 43161 STERICYCLE INC COM COM 858912108 751 13145 SH SOLE 13145 0 0 STERLING FINL CORP COM COM 859317109 1424 83016 SH SOLE 15165 0 67851 STIFEL FINL CORP COM COM 860630102 667 11533 SH SOLE 11533 0 0 SUPERIOR BANCORP COM COM 86806M106 553 62600 SH SOLE 62600 0 0 SUPERIOR WELL SVCS INC COM COM 86837X105 4657 204872 SH SOLE 15662 0 189210 SUPERTEX INC COM COM 868532102 16387 410896 SH SOLE 292031 0 118865 SVB FINL GROUP COM COM 78486Q101 20342 429520 SH SOLE 307470 0 122050 TASER INTL INC COM COM 87651B104 12515 797641 SH SOLE 564590 0 233051 TASTY BAKING CO COM COM 876553306 832 82500 SH SOLE 5300 0 77200 TECHNITROL INC COM COM 878555101 18484 685861 SH SOLE 323861 0 362000 TELEFLEX INC COM COM 879369106 1364 17500 SH SOLE 1400 0 16100 TEMPUR-PEDIC INTL INC COM COM 88023U101 3194 89340 SH SOLE 62960 0 26380 TEREX CORP NEW COM COM 880779103 520 5837 SH SOLE 5837 0 0 TEXAS CAPITAL BANCSHARES INC COM 88224Q107 12533 576513 SH SOLE 423208 0 153305 TEXTRON INC COM COM 883203101 556 8940 SH SOLE 8940 0 0 THE MOSIAC COMPANY COM 61945A107 707 13201 SH SOLE 13201 0 0 THESTREET COM INC COM COM 88368Q103 10436 861770 SH SOLE 628355 0 233415 THIRD WAVE TECHNOLOGIES INC CO COM 88428W108 4805 556814 SH SOLE 391925 0 164889 THQ INC COM NEW COM 872443403 7180 287416 SH SOLE 169776 0 117640 TIME WARNER TELECOM INC CL A COM 887319101 12476 567873 SH SOLE 384318 0 183555 TOLLGRADE COMMUNICATIONS INCCO COM 889542106 2890 285581 SH SOLE 21654 0 263927 TRIUMPH GROUP INC NEW COM COM 896818101 43850 536653 SH SOLE 297281 0 239372 TUTOGEN MEDICAL INC COM COM 901107102 5441 473088 SH SOLE 335528 0 137560 ULTIMATE SOFTWARE GROUP INC CO COM 90385D107 22545 645986 SH SOLE 460432 0 185554
PAGE 7 EMERALD ADVISERS FORM 13F INFORMATION TABLE AS OF DATE: 09/30/07
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE - ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- UNITED AMERICA INDEMNITY LTD C COM 90933T109 8491 394762 SH SOLE 243819 0 150943 UNITED CMNTY BKS INC CDT-CAP S COM 90984P105 508 20721 SH SOLE 20721 0 0 UNIVEST CORP PA COM COM 915271100 461 19437 SH SOLE 600 0 18837 URBAN OUTFITTERS INC COM COM 917047102 5290 242672 SH SOLE 35122 0 207550 URSTADT BIDDLE PPTYS INC CL A COM 917286205 183 11800 SH SOLE 11800 0 0 USA TECHNOLOGIES INC COM 90328S500 745 88849 SH SOLE 6800 0 82049 VARIAN MED SYS INC COM COM 92220P105 340 8110 SH SOLE 8110 0 0 VARIAN SEMICONDUCTOR EQUIPTMCO COM 922207105 10394 194207 SH SOLE 139795 0 54412 VERIGY LTD SHS COM Y93691106 2971 120240 SH SOLE 84470 0 35770 VIASAT INC COM COM 92552V100 17801 577386 SH SOLE 411450 0 165936 VIRGINIA COMM BANCORP INC COM COM 92778Q109 7570 527922 SH SOLE 349752 0 178170 VIRGINIA FINL CORP COM COM 927810101 348 18315 SH SOLE 5610 0 12705 VISHAY INTERTECHNOLOGY INC COM COM 928298108 4997 383493 SH SOLE 57693 0 325800 VOLCANO CORPORATION COM COM 928645100 6021 366254 SH SOLE 263764 0 102490 VOLTERRA SEMICONDUCTOR CORP CO COM 928708106 5005 407592 SH SOLE 291672 0 115920 WABTEC CORPORATION COM 929740108 34539 922027 SH SOLE 493097 0 428930 WADDELL & REED FINL INC CL A COM 930059100 284 10500 SH SOLE 10500 0 0 WAL MART STORES INC COM 931142103 212 4864 SH SOLE 4864 0 0 WATERS CORP COM COM 941848103 539 8060 SH SOLE 8060 0 0 WEATHERFORD INTERNATIONAL LTCO COM G95089101 500 7449 SH SOLE 7449 0 0 WESCO INTL INC COM COM 95082P105 5473 127467 SH SOLE 76658 0 50809 WEST COAST BANCORP ORE NEW COM COM 952145100 548 19300 SH SOLE 19300 0 0 WESTERN ALLIANCE BANCORP COM 957638109 478 20300 SH SOLE 20300 0 0 WET SEAL INC CL A COM 961840105 11138 2877927 SH SOLE 2067447 0 810480 WHITING PETE CORP NEW COM COM 966387102 8272 186100 SH SOLE 131150 0 54950 WILLIAMS COS INC COM COM 969457100 553 16223 SH SOLE 16223 0 0 WILSHIRE BANCORP INC COM 97186T108 6563 598284 SH SOLE 422413 0 175871 WISDOMTREE INVTS INC COM COM 97717P104 666 169403 SH SOLE 138874 0 30529 WORLD FUEL SVCS CORP COM COM 981475106 11931 292346 SH SOLE 205046 0 87300 WPCS INTL INC COM NEW COM 92931L203 2648 256840 SH SOLE 23340 0 233500 WRIGLEY WM JR CO COM 982526105 439 6840 SH SOLE 6840 0 0 YAMANA GOLD INC COM COM 98462Y100 129 10928 SH SOLE 10928 0 0 YARDVILLE NATL BANCORP COM COM 985021104 291 8650 SH SOLE 8650 0 0 YORK WTR CO COM COM 987184108 5950 353354 SH SOLE 22667 0 330687 ZUMIEZ INC COM COM 989817101 5618 126616 SH SOLE 90466 0 36150
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