6:49PM Copart beats by $0.04, beats on revs (CPRT) 44.38 +0.26 : Reports Q3 (Apr) earnings of $0.52 per share, $0.04 better than the First Call consensus of $0.48; revenues rose 51.8% year/year to $221.1 mln vs the $207.9 mln consensus.
6:14PM Mosaic anticipates reporting robust Q4 results in FY08 as strong demand and the tight supply situation continues for crop nutrients (MOS) 130.70 +4.89 : Co says "We anticipate reporting robust Q4 results in FY08 as strong demand and the tight supply situation continues for crop nutrients." Co sees phosphate sales volumes are expected to be in the range of 9.0-9.4 mln tonnes for FY09. This increase is contingent upon sourcing an adequate supply of sulfur, operating mine and plant sites at high operating rates and restarting certain previously indefinitely closed phosphoric and sulfuric acid production in the second half of the fiscal year. The restart of this phosphoric and sulfuric acid production will permit MOS to utilize excess granulation capacity at one of its existing plants. Potash sales volumes are expected to be 8.2-8.6 mln tonnes in FY09. Previously announced potash capacity expansion projects will be underway in FY09; however, production from the first of the expansions will not come online until FY10. This volume estimate assumes, among other things, operating the potash facilities at high operating rates and continued successful management of the brine inflow at the Esterhazy mine. MOS estimates a realized DAP price, FOB plant, in the range of $1,020-1,080 per tonne in the Q1 of FY09 and an estimated average realized MOP price, FOB plant, in the range of $460-510 per tonne for the same quarter. Both estimates assume farmer economics remain robust and that management has accurately estimated the mix of forward versus spot sales. Capital Spending for FY09 will grow significantly to a range of $900-1.1 bln.
5:02PM Bob Evans beats by $0.11, misses on revs; guides FY09 EPS in-line, revs in-line (BOBE) 29.09 +0.85 : Reports Q4 (Apr) earnings of $0.52 per share, $0.11 better than the First Call consensus of $0.41; revenues rose 4.3% year/year to $436.4 mln vs the $441.5 mln consensus. Co issues in-line guidance for FY09, sees EPS of $2.00-2.10 vs. $2.02 consensus; sees FY09 rev growth of 3.5-4.5%, which equates to $1.800-1.818 bln vs. $1.81 bln consensus. "This year's fourth-quarter reported results include the favorable impact of a pretax net gain of $0.7 million from the sale of real estate assets, compared to $0.2 million in the fourth quarter of fiscal 2007. Same-store sales at Bob Evans Restaurants were up 1.7 percent for the fourth quarter. Going forward, the Company will issue same-store sales results on a quarterly rather than monthly basis. The Company will include monthly same-store sales results in its quarterly earnings releases, beginning with its first-quarter earnings release on Aug. 12."
4:19PM Altera narrows Q2 rev guidance to high end of range (ALTR) 22.89 -0.16 : Co now expects that sequential revenue growth will be toward the high end of the co's previous 1-4% guidance (consensus is for ~2.6% sequential revs growth). Compared to the same period in the prior quarter, the co's new product category is demonstrating strong and broad-based growth, led once again by Stratix II FPGAs. In addition, Altera's 65-nm FPGAs, comprised of the low-cost Cyclone III and the high-end Stratix III families, are experiencing very strong sequential growth. As anticipated, sales to the co's communications equipment customers continue to strengthen.
4:09PM NaviSite reports Q3 EPS above consensus; revs below consensus; guides Q4 revs below consensus (NAVI) 4.10 +0.20 : Co reports Q3 EPS of ($0.04), $0.02 better than ($0.06) First Call consensus; revs increased 20% from a year ago to $39.3 mln vs $41.16 mln First Call consensus. Co sees Q4 revs $42-43 mln vs $44.00 mln First Call consensus.
4:08PM SAIC beats by $0.02, beats on revs; guides (SAI) 19.87 +0.06 : Reports Q1 (Apr) earnings of $0.25 per share, $0.02 better than the First Call consensus of $0.23; revenues rose 17.8% year/year to $2.37 bln vs the $2.26 bln consensus. The co now expects to achieve all of its long-term financial goals in FY09: Internal revenue growth in the 6-9% range; Operating margin expansion of 20 to 30 basis points; and EPS from continuing operations growth of 11-18%.
4:05PM Diamond Foods beats by $0.02, beats on revs; guides Q4 EPS in-line, revs in-line (DMND) 20.99 -0.05 : Reports Q3 (Apr) earnings of $0.07 per share, $0.02 better than the First Call consensus of $0.05; revenues rose 3.1% year/year to $100 mln vs the $98.5 mln consensus. Co issues in-line guidance for Q4, sees EPS of $0.10-0.15 vs. $0.13 consensus; sees Q4 revs of $104-122 vs. $110.98 mln consensus.
4:04PM Guess beats by $0.05, beats on revs; guides Q2 EPS in-line, revs in-line; guides FY09 EPS in-line, revs in-line (GES) 37.87 -1.00 : Reports Q1 (Apr) earnings of $0.51 per share, $0.05 better than the First Call consensus of $0.46; revenues rose 29.4% year/year to $489.2 mln vs the $451.6 mln consensus. Co issues in-line guidance for Q2, sees EPS of $0.47-0.49 vs. $0.47 consensus; sees Q2 revs of $455-465 mln vs. $456.27 mln consensus. Co issues in-line guidance for FY09, sees EPS of $2.40-2.48 vs. $2.44 consensus; sees FY09 revs of $2.03-$2.08 bln vs. $2.05 bln consensus.
3:05PM AgFeed Industries announces results of annual meeting and provides "positive" outlooks for 2008 and 2009 (FEED) 16.74 +1.14 : As part of the Company's consistent growth strategies, AgFeed will continue to identify and acquire existing producing commercial hog farms in China. These potential acquisitions, when completed, are expected to be immediately accretive to 2008 earnings and further expand their annual hog production capabilities. AgFeed intends to grow its hog production further throughout 2008 and 2009. AgFeed's target is to sell at a minimum 400,000 hogs in 2008 and achieve 1 mln hog sales in 2009.
9:22AM Sherwin-Williams cuts FY08 and Q2 EPS below consensus (SHW) 55.69 : Co cuts FY08 EPS guidance to $3.60-$4.10 vs. consensus of $4.71 and vs. prior guidance of $4.70-$4.85. Co also cuts Q2 EPS guidance to $1.40-$1.50 vs. consensus of $1.53 and vs. prior guidance of $1.45-$1.65. The significantly lower expectation of diluted net income per common share for the full year 2008 relates primarily to the expected continuation of the unprecedented downturn in the U.S. housing market and rapidly rising raw material cost increases. The lower anticipation in Q2 earnings per share is due primarily to worsening domestic net sales and the continuing rapidly increasing raw material and other input costs.
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