Earnings - 30th June 2008

6PM: VF Corp raises 2nd-quarter outlook, Apparel maker VF Corp raised its second-quarter earnings outlook on Monday, sending its shares up nearly 5 percent in extended trading.
The company, whose brands include The North Face, Vans and Wrangler, said earnings would rise by 10 percent to 20 percent over its previously issued view of 80 cents per share for the second quarter. It cited stronger earnings from operations and a favorable benefit from resolving various tax matters. Analysts expected profit of 80 cents a share for the period, according to Reuters Estimates. Shares of VF rose to $74.60 in extended trading from their close of $71.18 on the New York Stock Exchange, where the stock had fallen 1.3 percent.

4:30PM Fortune Brands lowers Q2 and FY08 EPS; co sees first half results better than the second half (FO) 62.41 +0.04 : Co lowers Q2 and FY08 EPS guidance. Co says, "weakening consumer sentiment in the U.S., the ongoing correction in the U.S. housing market, and a large and unexpected Australian tax increase on ready-to-drink spirits products have together created a more challenging environment for the co's products. As a result, the co lowers Q2 EPS and now expects to generate diluted EPS before charges/gains for Q2 that is down at a high-teens-to-mid-20s percentage rate compared to diluted EPS of $1.51 before charges/gains for continuing operations in the year-ago quarter (First call consensus $1.35). The co's previously announced target for Q2 had been for diluted EPS before charges/gains to be down at a high-single-digit-to-mid-teens percentage rate. The co said it continues to expect that results in the second half of 2008 will be better than the first half, benefiting from factors including company-wide productivity initiatives and the annualization of increased brand-building investments. For the full year 2008, the lowers Q2 EPS and co now expects to generate diluted EPS before charges/gains that is down at a high-single-digit-to-high-teens percentage rate compared to $5.06 in 2007 (First Call consensus is $5.93). The co's previous full-year target was for diluted EPS before charges/gains to be flat to down at a high-single-digit percentage rate versus 2007's results.

4:04PM Quantum Fuel misses by $0.01, beats on revs (QTWW) 3.08 +0.15 : Reports Q4 (Apr) loss of $0.06 per share, $0.01 worse than the two analyst estimate of ($0.05); revenues rose 212.6% year/year to $9.7 mln vs the $8.1 mln two analyst estimate. "The Fisker Karma vehicle program remains on target with production expected to begin in the 4th quarter of calendar 2009. Fisker Automotive expects to produce 7,500 Karmas in calendar 2010, for which Quantum will be providing the complete plug-in hybrid propulsion system based on lithium ion battery and control system technology."

:24AM E-House China reaffirms Q2 revs of $41-$44 mln vs. $42.38 mln First Call consensus (EJ) 10.50 : Co sees Q2 revs of $41-$44 mln vs. $42.38 mln consensus. Co states, although transaction activities in the Chinese real estate industry remain sluggish compared to 2007 due to overall market adjustment and the recent earthquake in Sichuan Province, the company expects its total revenues for Q2 to remain within the guidance range previously provided as a result of expanded business scale and market share. Although transaction activities began to show signs of recovery in some regions in March 2008, such recovery did not become stronger in the second quarter. Furthermore, the strong earthquake in Sichuan Province on May 12 had a short-term negative impact on real estate transactions across all regions in China. As a result, EJ expects that total real estate transaction volume in the second quarter for China as a whole, as well as most key regions, will likely decrease substantially compared to the same period in 2007. Despite the above, EJ has been able to expand its business scale and market share as a result of a substantial increase in its project pipeline for primary real estate agency services, increases in real estate consulting and information services revenues, and strategic cooperation with leading developers in China.

9:12AM Robbins & Myers beats by $0.04, beats on revs; guides Q4 EPS above consensus; guides FY08 EPS above consensus (RBN) 41.08 : Reports Q3 (May) earnings of $0.62 per share, excluding non-recurring items, $0.04 better than the First Call consensus of $0.58; revenues rose 17.2% year/year to $200.9 mln vs the $190.2 mln consensus. Co issues upside guidance for Q4, sees EPS of $0.62-0.67 vs. $0.60 consensus. Co issues upside guidance for FY08, sees EPS of $2.10-2.15, excluding non-recurring items, vs. $2.05 consensus.

9:06AM LJ Intl reports FY07 & Q1 FY08 results (JADE) 3.27 : Co reports revenues for 2007 totaled $152.0 mln, up 23% from $123.8 mln in 2006. Most of the increase was due to a 127% increase in sales for the Company's retail operations, to $34.3 mln from $15.1 mln. Wholesale revenues also increased, by 8%, to $117.7 mln in 2007 from $108.7 mln in 2006. Net income for fiscal 2007 was $1.5 mln, or $0.07 per diluted share, compared to $5.3 mln, or $0.29 per diluted share, in 2006. Co also reports revenues for the first quarter of 2008 totaled $30.4 million, down 11% from $34.1 million in the first quarter of 2007. The Company noted that the decrease was primarily due to the recent global economic weakness, which resulted in decreased demand from the U.S., its largest wholesale market, as well as no sales of its high-end "Signature" jewelry line. Revenues at the wholesale level totaled $21.8 million, down from $25.2 million in the first quarter of 2007. Overall retail revenues totaled $8.5 million in the first quarter of 2008, down from $8.8 million from a year earlier. Excluding revenues from the Company's Signature line, retail revenues rose 143% to $8.5 million from $3.5 million in the first quarter of 2007, representing the continued growth at the ENZO Division. Net income for the first quarter of 2008 was $1.1 million, or $0.05 per diluted share, up from $0.6 million, or $0.03 per diluted share, in the first quarter of 2007

8:50AM Campbell Soup updates its fiscal 2008 full-year guidance, sees EPS to be at the upper end of the 5-7% range (CPB) 32.18 : Co now expects adjusted net EPS growth for its fiscal year ending August 3, 2008 to be at the upper end of the 5-7% range from the fiscal 2007 adjusted base of $1.95 (5-7% growth calculates to FY08 EPS of ~$2.05-2.09 vs $2.06 First Call consensus). 8:30AM Campbell Soup announces $1.2 bln share repurchase program