Earnings - 11th July 2008

7:51AM Fastenal beats by $0.01, reports revs in-line (FAST) 45.44 : Reports Q2 (Jun) earnings of $0.51 per share, $0.01 better than the First Call consensus of $0.50; revenues rose 16.3% year/year to $604.2 mln vs the $602.1 mln consensus.

7:32AM Rockwell Collins beats by $0.05, misses on revs; guides FY08 EPS above consensus, reaffirms FY08 revs guidance (COL) 51.46 : Reports Q3 (Jun) earnings of $1.07 per share, $0.05 better than the First Call consensus of $1.02; revenues rose 7.3% year/year to $1.19 bln vs the $1.21 bln consensus. Co issues guidance for FY08, sees EPS of $4.05-4.10, compared to previous guidance of $3.95-4.05, vs. $4.04 consensus; sees FY08 revs of about $4.75 bln vs. $4.8 bln consensus.

6:37AM General Electric reports EPS in-line, beats on revs; guides Q3 EPS in-line; reaffirms FY08 EPS guidance (GE) 27.64 : Reports Q2 (Jun) earnings of $0.54 per share, in-line with the First Call consensus of $0.54; revenues rose 10.6% year/year to $46.89 bln vs the $45.31 bln consensus. Co issues in-line guidance for Q3, sees EPS of $0.50-0.54 vs. $0.54 consensus. Co reaffirms guidance for FY08, sees EPS of $2.20-2.30 vs. $2.22 consensus. Co reports return on average total capital (ROTC) of 17.6%; Stock repurchase $2.5 bln YTD; $1.4 bln for second quarter; Financial Services earnings of $2.8 bln, up 15%; Global revenues of $25 bln, up 24%; emerging markets revenues of $10 bln, up 20%; Services orders of $9.5 bln, up 19%; major equipment orders of $13.7 bln, up 4%, outpacing shipments 1.3x; total orders of $26.9 bln, up 8%; Major equipment backlog of $55 bln, up 25%; customer service agreements (CSA) backlog of $113 bln, up 17%.Co said, "Led by double-digit segment profit growth in our industrial businesses and a strong relative performance in our financial services businesses, we delivered a solid quarter in a volatile environment... Many markets and industries remain healthy, while the U.S. economy is challenged... Opportunities in emerging markets, infrastructure, commodities and global healthcare are creating demand for our businesses, while we fight through the difficulties of a burdened U.S. consumer, a tough housing market, inflation and volatile capital markets. Even with all this uncertainty, we still see growth opportunities ahead."