Earnings - 4th June 2008

6:34PM FuelCell Energy misses by $0.12, beats on revs (FCEL) 9.46 +0.05 : Reports Q2 (Apr) loss of $0.38 per share, $0.12 worse than the First Call consensus of ($0.26); revenues rose 177.2% year/year to $31.6 mln vs the $17.9 mln consensus.

4:21PM Comtech Telecom beats by $0.14, beats on revs (CMTL) 45.88 +0.48 : Reports Q3 (Apr) earnings of $0.70 per share, $0.14 better than the First Call consensus of $0.56; revenues rose 15.7% year/year to $138.1 mln vs the $129.5 mln consensus.

4:12PM Greif beats by $0.05, beats on revs; guides FY08 EPS above consensus (GEF) 68.92 +2.80 : Reports Q2 (Apr) earnings of $0.92 per share, ex items, $0.05 better than the First Call consensus of $0.87; revenues rose 12.6% year/year to $918 mln vs the $839.9 mln single estimate. Co issues upside guidance for FY08, sees EPS of $4.25-4.45 vs. $4.05 consensus.

4:11PM ADC Telecom beats by $0.09, beats on revs; guides Q3 revs above consensus; guides FY08 EPS above consensus, raises revs above consensus (ADCT) 15.80 +0.18 : Reports Q2 (Apr) earnings of $0.39 per share, excluding $0.25 in charges, $0.09 better than the First Call consensus of $0.30; revenues rose 19.2% year/year to $403.4 mln vs the $384.8 mln consensus. Co issues upside guidance for Q3, co sees Q3 revs around the same level of Q2 revs of $403.4 mln vs. $395.70 mln consensus. Co issues upside guidance for FY08, sees EPS of $1.25-1.33, excluding $0.94 in non-recurring items, vs. $1.21 consensus; raises FY08 revs of $1.52-1.54 bln vs. $1.5 bln consensus, up from $1.48-1.51 bln. Co says, "As is in past three years, ADC expects fourth quarter 2008 sales to be lower than the third quarter as customers' capital spending nears the end of the calendar year. In 2008, quarterly gross margins are expected to be around 36%; however, they are expected to rise and decline with sales volume levels and mix from quarter to quarter."

4:10PM Ulta Salon reports EPS in-line, revs in-line; guides Q2 EPS in-line, revs in-line; reaffirms FY09 EPS guidance, revs guidance (ULTA) 13.33 -0.65 : Reports Q1 (Apr) earnings of $0.07 per share, excluding non-recurring items, in-line with the First Call consensus of $0.07; revenues rose 23.3% year/year to $239.3 mln vs the $237.5 mln consensus. Co issues in-line guidance for Q2, sees EPS of $0.04-0.05 vs. $0.05 consensus; sees Q2 revs of $248-252 mln vs. $252.80 mln consensus. Co reaffirms guidance for FY09, sees EPS of $0.52-0.57 vs. $0.54 consensus; sees FY09 revs of $1.12-1.14 bln vs. $1.13 bln consensus.

1:37PM Jos. A. Bank reports Q1 EPS of $0.53 vs $0.46 First Call consensus; revs rose 12.3% YoY to $145.4 mln vs $142.30 mln First Call consensus (JOSB) 28.70 +1.49 :

11:30AM Lear issues lower guidance, sees FY08 revs $15.3 mln, down from the previous outlook of $15.5 bln, vs $15.33 bln First Call consensus (LEA) 25.50 +0.75 : As mentioned at 11:28, co announces revisions to its 2008 financial outlook based on lower North American vehicle production and increased commodity costs. Subsequent to the 2008 financial outlook the Company provided on 4/29, Lear's major customers, industry forecasting services and others have announced downward revisions in their estimates for 2008 North American vehicle production based on lower sales rates for full-size pickup trucks and large sport utility vehicles. In response to these recent announcements, Lear is revising its 2008 forecast for North American industry production from ~14.1 mln vehicles to ~13.8 mln vehicles. In addition, raw material costs, particularly costs related to steel, have continued to increase... In addition, co is increasing its estimated restructuring investment for 2008 to about $125 mln. The revised outlook for FY08 free cash flow is ~$200 mln.

6:33AM Vimpel Comms reports EPS in-line, beats on revs (VIP) 33.90 : Reports Q1 (Mar) earnings of $0.59 per share, in-line with the First Call consensus of $0.59; revenues rose 41.7% year/year to $2.11 bln vs the $2.08 bln consensus. "The first quarter of 2008 should be viewed as the beginning of a new era for VimpelCom. Completion of the Golden Telecom acquisition has opened an entirely new set of growth opportunities... Meanwhile our mobile business continues to show strong financial results. We are growing revenues and OIBDA in virtually all of our markets, in spite of the negative impact of economic problems in Central Asia, particularly in Kazakhstan. With an OIBDA margin above 50% and a revenue growth rate above 40%, VimpelCom remains a rare example of a large, fast growing and highly profitable business..."