Earnings - 26th June 2008

5:03PM Andersons raises FY08 EPS guidance above consensus (ANDE) 32.93 -0.25 : Co raises FY08 EPS to $4.40-4.80 vs $3.79 consensus, up from prior $3.65-4.00. Co says, "We are off to a great start in the first half of the year, however we are cognizant that weather and other factors impacting the commodities markets may affect our second-half results." (POPPED)

4:20PM Finish Line beats by $0.07, beats on revs (FINL) 6.99 -0.60 : Reports Q1 (May) earnings of $0.02 per share, $0.07 better than the First Call consensus of ($0.05); revenues rose 0.7% year/year to $287.9 mln vs the $281.3 mln consensus. Consolidated comparable store net sales increased 1.2% for Q1 compared to the same period a year ago. By concept, Finish Line comparable store net sales increased 1.6% and Man Alive comparable store net sales decreased 7.1%.

4:11PM TIBCO Software beats by $0.01, beats on revs (TIBX) 7.37 -0.14 : Reports Q2 earnings of $0.07 per share, $0.01 better than the First Call consensus of $0.06; revenues rose 15.0% year/year to $150 mln vs the $148 mln consensus. "Despite weakness in the Americas business, we delivered total company revenue growth of 15% driven by a strong performance from our European Division and significant deals in key vertical markets such as Financial Services, Telecommunications, Insurance and Life Sciences," said Vivek Ranadive, chairman and chief executive officer, TIBCO. "We continue to see opportunity across all geographies and are confident in our market position given our unique technology and the demonstrable value we provide to our global customer base."

4:10PM Micron misses by $0.02, beats on revs (MU) 6.99 -0.54 : Reports Q3 (May) loss of $0.30 per share, $0.02 worse than the First Call consensus of ($0.28); revenues rose 15.8% year/year to $1.5 bln vs the $1.47 bln consensus. "Co's net sales in Q3 increased 10% compared to Q2 primarily from higher sales of both DRAM and NAND Flash memory products. Sales of DRAM products in Q3 increased compared to Q2 as a result of an approximate 10% increase in gigabit sales, partially offset by an approximate 5% decrease in average selling prices..."

4:05PM Accenture beats by $0.05, beats on revs; guides Q4 revs above consensus; raises FY08 EPS above consensus (ACN) 38.49 -0.88 : Reports Q3 (May) earnings of $0.74 per share, $0.05 better than the First Call consensus of $0.69; revenues rose 20.1% year/year to $6.1 bln vs the $5.91 bln consensus. Co issues upside guidance for Q4, sees Q4 revs of $5.9-6.1 bln vs. $5.73 bln consensus. Co raises guidance for FY08, sees EPS of $2.63-2.65 vs. $2.59 consensus, up from $2.55-2.60. ACN now expects net revenue growth to be toward the upper end of its previously guided range of 9-12%. Given new bookings to date and additional bookings expected in the Q4, ACN now expects new bookings for fiscal 2008 to be in the range of $25-26 bln.

4:03PM Palm misses by $0.04, misses on revs (PALM) 6.54 -0.30 : Reports Q4 (May) loss of $0.22 per share, excluding non-recurring items, $0.04 worse than the First Call consensus of ($0.18); revenues fell 26.2% year/year to $296.2 mln vs the $301.1 mln consensus.

8:20AM Worthington beats by $0.28, beats on revs (WOR) 23.93 : Reports Q4 (May) earnings of $0.72 per share, excluding non-recurring items, $0.28 better than the First Call consensus of $0.44; revenues rose 19.7% year/year to $868.9 mln vs the $850.2 mln consensus.

7:41AM ConAgra beats by $0.10; guides Q1 EPS below consensus; guides FY09 EPS below consensus (CAG) 22.15 : Reports Q4 (May) earnings of $0.44 per share, excluding non-recurring items, $0.10 better than the First Call consensus of $0.34; co reports revs up 15.5% yr/yr to $3.078 bln. Co issues downside guidance for Q1, sees EPS of $0.26-0.28, excluding non-recurring items, vs. $0.33 consensus; this is reflecting the seasonality of operating results as well as the fact that the planned share-repurchase and debt-reduction activities are not expected to be completed until the end of the 1H. Co issues downside guidance for FY09, sees EPS of $1.56-1.59, excluding non-recurring items, vs. $1.60 consensus. "While our higher-than-planned fourth-quarter EPS largely reflects another strong performance from the Trading & Merchandising operations, we are also pleased with the improved execution demonstrated in our continuing operations. Given the operating progress made this fiscal year as well as the recent divestiture of our Trading & Merchandising operations, we have an even greater focus on successfully executing the initiatives in our core food operations, as well as a much stronger foundation on which to deliver predictable and sustainable profitable growth going forward."

7:33AM America's Car-Mart beats by $0.18, beats on revs (CRMT) 14.70 : Reports Q4 (Apr) earnings of $0.47 per share, excluding non-recurring items, $0.18 better than the First Call consensus of $0.29; revenues rose 29.0% year/year to $76.5 mln vs the $69.2 mln consensus.

7:10AM Rite Aid misses by $0.10, reports revs in-line; reaffirms FY09 guidance (RAD) 1.75 : Reports Q1 (May) loss of $0.20 per share, $0.10 worse than the First Call consensus of ($0.10); revenues rose 49.3% year/year to $6.61 bln vs the $6.65 bln consensus. Co reaffirms guidance for FY09, sees EPS of ($0.48)-($0.34) vs. ($0.40) consensus; sees FY09 revs of $26.7-27.2 bln vs. $26.86 bln consensus. Capital expenditures, excluding proceeds from sale and leaseback transactions, are expected to be approximately $600 million. Proceeds from sale and leaseback transaction are expected to be approximately $150 million. Co said, "While the business environment remains challenging, we expect that completing the minor remodels, sales turning positive in the acquired stores and new pharmacy and front end initiatives will contribute significantly to strong results in the second half of the fiscal year".

6:12AM Oshkosh Truck announces downward revisions to estimats for Q308 and FY08 results (OSK) 33.51 : Co issues downside guidance for Q3 (Jun), sees EPS of $(1.22)-(1.32) vs. $1.47 First Call consensus. The expected loss relates to a non-cash charge for the impairment of goodwill to be recorded in connection with the co's European refuse collection vehicle manufacturer, the Geesink Norba Group (Geesink). The impact of the impairment charge on Q3 earnings is estimated to be approx $175 mln, or $2.32 per share. Projected Q3 results also reflect weaker performance expectations compared with previous estimates for, most notably, the co's access equipment segment and, to a lesser extent, its fire & emergency and commercial segments. "Lower than expected sales in both North America and Europe driven by softness in non-residential construction and general economic weakness, and rising raw material and fuel costs, have caused us to reduce our outlook for the third quarter and full fiscal year 2008," said Robert G. Bohn, Oshkosh chairman and chief executive officer. OSK expects that Q408 EPS will be below prior year's levels and will provide a new EPS estimate range for FY08 when it announces its Q308 results. (DROPPED)

4:20AM Ameron Int'l beats by $0.20 (AMN) 109.50 : Reports Q2 (Jun) earnings of $1.78 per share, $0.20 better than the First Call consensus of $1.58; revenues rose 1.9% year/year to $159.79 mln vs the $188.02 mln consensus. (POPPED)
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