Last January, we interviewed Kenneth Salmon, portfolio man- ager of Marshall Small Cap Growth, which recently changed its name to BMO Small-Cap Growth (MRSCX). Salmon looks for companies with improving fundamentals and catalysts for growth. Here is how his recommendations have fared.

IntraLinks Holdings (N YSE: IL) provides online solutions for secure content management primarily to the financial services industry. Salmon expected mar- gins to expand over the next few years, but the firm has had difficulty meeting analyst expectations in recent quarters.

 Its fourth-quarter earnings missed the consensus estimate, with the firm posting a per-share loss of five cents. Gross margin dropped to 73.2 percent from 75.9 percent in the prior-year quarter.

The stock hit an all-time high of $32.25 last April, before plunging precipitously during the latter half of the year. Shares of IntraLinks have lost 71 percent since recommendation.

Salix Pharmaceuticals (NSDQ: SLXP) is a specialty pharmaceutical firm that focuses on traveler’s diarrhea. Its flagship drug, Xifaxan, is used for treating irritable bowel syndrome and faces limited competition. The drug accounted for 68.7 percent of Salix’s 2011 sales.

The company’s fourth-quarter earnings beat analysts’ estimates by 27.4 percent, with net income growing 37 percent year over year. During 2011, sales grew 60 per- cent to $540.5 million.

While management expects research and development (R&D) costs to jump 32 percent this year, it also forecasts a substantial 36 percent increase in sales, which should more than offset the rise in R&D expenditures.

Shares of the company’s stock have returned 7.2 percent since recommendation.