Earnings - 18h July 2008

8:05AM Satyam Computer beats by $0.01, reports revs in-line; guides Q2 EPS above consensus, revs below consensus; guides FY09 EPS in-line, revs below consensus (SAY) 23.46 : Reports Q1 (Jun) earnings of $0.38 per share, $0.01 better than the First Call consensus of $0.37; revenues rose 25.1% year/year to $637.3 mln vs the $634.5 mln consensus. Co issues guidance for Q2, sees EPS of $0.35 vs. $0.33 consensus; sees Q2 revs of $645.6-651.9 mln vs. $661.34 mln consensus. Co issues guidance for FY09, sees EPS of $1.45-1.48 vs. $1.45 consensus; sees FY09 revs of $2.65-2.69 bln vs. $2.72 bln consensus.

8:05AM Student Loan Corp reports Q2 earnings of $2.10/share, a 40% decrease from 2Q07 (STU) 112.00 : Reports Q2 (Jun) earnings of $2.10 per share (no estimates), a 40% decrease from a year ago. This decrease was primarily driven by a $26 mln (after-tax) increase in the company's provision for loan losses, largely attributable to increased reserves associated with losses inherent in the higher risk, uninsured segment of the company's CitiAssist private education loan portfolios. The company's Q2 return on average equity decreased to 10.5 % from 17.9% in the same qtr of 2007, driven by lower earnings. Co states, "The student loan industry is still contending with a challenging business environment. In the second quarter we strategically repositioned ourselves to benefit from the products, channels, and operational structure that best enable us to grow profitably while thoughtfully deploying capital..."

7:34AM Manpower beats by $0.02, misses on revs; guides Q3 EPS below consensus (MAN) 56.13 : Reports Q2 (Jun) earnings of $1.52 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $1.50; revenues rose 17.3% year/year to $5.9 bln vs the $5.96 bln consensus. Co issues downside guidance for Q3, sees EPS of $1.45-1.49, including a favorable currency impact of $0.17, vs. $1.58 consensus.

7:02AM Honeywell beats by $0.02, beats on revs; raises guidance for FY08 (HON) 50.86 : Reports Q2 (Jun) earnings of $0.96 per share, $0.02 better than the First Call consensus of $0.94; revenues rose 13.3% year/year to $9.67 bln vs the $9.22 bln consensus. Co raises guidance for FY08, to EPS of $3.75-3.85 from $3.70-3.80 vs. $3.79 consensus; sees FY08 revs of $37.6-38.2 bln vs. $37.24 bln consensus.

6:46AM Amcol beats by $0.07, beats on revs (ACO) 25.83 : Reports Q2 (Jun) earnings of $0.58 per share, $0.07 better than the First Call consensus of $0.51; revenues rose 28.1% year/year to $233.8 mln vs the $211.1 mln consensus. (General Building Materials)

6:34AM Citigroup beats by $0.17, beats on revs; reports $7.2 bln in write-downs (C) 17.97 : Reports Q2 (Jun) loss of $0.49 per share from continuing operations, $0.17 better than the First Call consensus of ($0.66); revenues fell 29.2% year/year to $18.65 bln vs the $17.55 bln consensus. Co said that results in the core franchise were offset by write-downs and credit costs. Results include $7.2 billion in pre-tax write-downs in Securities and Banking. Additionally, credit costs increased $4.5 billion, mainly driven by Consumer Banking in North America and Global Cards. Co said, "We continue to demonstrate strength in our core franchise. We cut our second quarter losses in half compared to the first quarter. The cost of credit increased by 20% from the first quarter, but write-downs in our Securities and Banking business dropped by 42%. Additionally, headcount and expenses declined sequentially. While there is still much to do, we are encouraged by our progress in delivering on our commitment to the re-engineering efforts".

Schlumberger beats by $0.04, beats on revs (SLB) 96.78 : Reports Q2 (Jun) earnings of $1.16 per share, $0.04 better than the First Call consensus of $1.12; revenues rose 19.6% year/year to $6.75 bln vs the $6.48 bln consensus.

12:56AM Flagstar Bancorp beats by $0.24, beats on revs (FBC) 4.05 : Reports Q2 (Jun) earnings of $0.22 per share, $0.24 better than the First Call consensus of ($0.02); revenues rose 50.6% year/year to $161.7 mln vs the $125.3 mln consensus. (Savings & Loans)

12:53AM Wipro misses by $0.01, misses on revs (WIT) 11.11 : Reports Q1 (Jun) earnings of $0.13 per share, excluding non-recurring items, $0.01 worse than the First Call consensus of $0.14; revenues rose 34.7% year/year to $1.39 bln vs the $1.41 bln consensus. Azim Premji, Chairman, stated, "Given the environment, we remain cautious in the near-term. Looking ahead, for the quarter ending September 2008, we expect our Revenue from our IT Services business to be approx $1089 mln."