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Graham Deep Value Screen- not matching expected results

As a first cut in jumping back into Q after about two years, I decided to take a stab at implementing a Graham Deep Value screen based off this article from AAII: http://www.aaii.com/journal/article/deep-value-investing-has-not-gone-out-of-style. I am a little perplexed at why I am seeing more results than they claim for the specific date in question, and the two stocks in question that are mentioned in the article do not show up at all. Unfortunately they do not mention specific values they have for "NCAV"

The screen is such that:
Price <= Net current assets per shr Q1
EPS-Continuing 12m > 0
Cash from operations 12m > 0
Country Equals United States
ADR/ADS Stock Is False
Sector Not Equal Financial
Price >= 5

And their claim is that only MCRAA and PARF pass this screen on November 30th 2016, while I get 4 results back. At first I realized I was not looking back 12 months, but fixed that, but all the other factors seem to be implemented correctly.

Is there a reasonable explanation for this?

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1 response

quick comments without digging into it much:
- are not running the min price filter of $5
- are not using avg. shares in NCAV calculation
- MCRAA and PARF are OTC with minimal volume - first off I dont think Q shows OTC's - second off, the min dollar volume filter would have filtered it out anyway