4:38PM Cogent beats by $0.07, beats on revs (COGT) 10.41 +0.26 : Reports Q1 (Mar) earnings of $0.16 per share, $0.07 better than the First Call consensus of $0.09; revenues fell 18.3% year/year to $24.6 mln vs the $23 mln consensus. "The need for biometric solutions continues to grow, driven by key industry initiatives such as border control, identity theft prevention and national ID programs. We expect several sizable procurements to be awarded this year by large government agencies and are also seeing a very large number of smaller opportunities around the world... We continued to demonstrate strong gross margin, reporting 69.4% in the first quarter on a GAAP basis."
10:01AM Monsanto expects to more than double its fiscal year 2007 gross profit by 2012 (MON) 118.27 -3.13 : Co will tell investors tomorrow at the Sanford Bernstein 2008 Strategic Decisions Conference that it expects to more than double its fiscal year 2007 gross profit by 2012 through the execution of a strategy that delivers increased productivity and yield to farmers. Co will also emphasize how boosting yield-per-acre can make a meaningful difference in today's supply-demand environment. Co's strategy is based on increasing productivity and yields to help meet the collective needs of food, feed and fuel demands. "We also plan to launch three new game-changing platforms through 2012."
7:02AM Pediatrix Medical issues Q2 downside guidance; does not expect to meet Y08 guidance; announces buyback (PDX) 55.43 : Co issues downside guidance, sees Q2 EPS of $0.77-0.80 vs $0.84 consensus due to lower neonatal intensive care unit patient volume. Co does not expect to meet previous Y08 guidance due to the lower NICU patient volume. Co's ability to achieve its previously issued Q3 and Q4 guidance will be based on NICU patient volume growth reverting to historical levels of 3-5%. Co's Board of Directors has authorized the co to repurchase up to $100 mln of its common stock.
7:01AM Flotek Industries lowers FY08 guidance to $1.12 to $1.22, compared to prior guidance of $1.50 to $1.60 (FTK) 19.17 : Co lowers guidance for FY08 (Dec), sees EPS of $1.12-1.22 vs. $1.24 First Call consensus, compared to prior guidance of $1.50 to $1.60. The co says although management's expectations for 2008 remain very positive, several factors were identified by management in reviewing first quarter 2008 earnings, the original guidance model, and current business conditions which prompted the revision. The rationale for the revisions fall into the following categories: 1. First Quarter performance 2. Fine tuning guidance assumptions 3. Operations Q1 performance The co says Q1 performance was below management's estimates on which guidance was based and the co does not feel it can recapture those earnings in the remainder of the year. As described in the first quarter press release and earnings call, a four month delay in parts for the downhole tools segment and higher corporate costs contributed to quarterly performance that was not in line with management's original estimates for the quarter. Revised guidance does not assume that this miss can be recaptured in the remaining three quarters.
1:07AM Central European Distribution closes on investment in Whitehall Group; raises FY08 and FY09 guidance (CEDC) 69.08 : Co announces it has closed on its acquisition of a 49.9% voting interest and a 75% economic interest in the Whitehall Group. As a result, co issues upside guidance for FY08 (Dec), sees EPS of $2.50-2.65 vs. $2.41 First Call consensus; sees FY08 (Dec) revs of $1.57-1.70 bln vs. $1.51 bln consensus. Co issues upside guidance for FY09 (Dec), sees EPS of $3.50-3.70 vs. $2.96 consensus; sees FY09 (Dec) revs of $1.93-2.03 bln vs. $1.66 bln consensus.
12:56AM BGC Partners reports Q108 in-line, issues upside Q208 revenue guidance (BGCP) 9.08 : Reports Q1 (Mar) earnings of $0.21 per share, excluding non-recurring items, in-line with the First Call consensus of $0.21; revenues rose 23.9% year/year to $338.3 mln vs the $319.32 mln consensus. Co issues upside guidance for Q208; sees revenue of $315.0 mln vs $304.76 mln consensus.
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