6:07PM Covenant Transport beats by $0.17, beats on revs (CVTI) 4.43 +0.36 : Reports Q2 (Jun) loss of $0.17 per share, $0.17 better than the First Call consensus of ($0.34); revenues rose 17.6% year/year to $208.7 mln vs the $189.4 mln consensus. Co says, "July has started out consistent with most years, characterized by soft freight demand for the first couple of weeks and the third week of July improving. Our operating metrics concerning average miles per truck and freight rates are about what we had expected and reflect a modest improvement over the first three weeks of July 2007. We are expecting continued steady improvement in the relationship between capacity and demand during the third quarter of 2008, although it is possible that some lanes and regions could see significant jumps in the spot quote rate market as we believe there is limited excess capacity remaining industry-wide."
5:51PM FMC Corp beats by $0.11, beats on revs; guides Q3 EPS above consensus; guides FY08 EPS above consensus (FMC) 65.15 -0.56 : Reports Q2 (Jun) earnings of $1.29 per share, excluding non-recurring items, $0.11 better than the First Call consensus of $1.18; revenues rose 22.6% year/year to $806.6 mln vs the $726.1 mln consensus. Co issues upside guidance for Q3, sees EPS of $0.95-1.05, excluding non-recurring items, vs. $0.90 consensus. Co raises guidance for FY08, sees EPS of $4.20-4.40, excluding non-recurring items, vs. $4.08 consensus, up from $3.90-4.10. Co says, "We look for continued earnings growth in Agricultural Products driven by broad-based sales growth. In Specialty Chemicals, we expect earnings growth to be realized through strong commercial performance in BioPolymer and lithium. Industrial Chemicals will continue to derive significant benefit from higher selling prices and volume growth across the segment. We are confident that we will achieve these results despite the headwind of accelerating raw material cost increases in all our businesses."
5:13PM Healthspring beats by $0.28, beats on revs; raises FY08 EPS above consensus, reaffirms revs in-line (HS) 17.66 +0.35 : Reports Q2 (Jun) earnings of $0.72 per share, $0.28 better than the First Call consensus of $0.44; revenues rose 49.3% year/year to $554.7 mln vs the $528.3 mln consensus. Co raises EPS guidance above consensus for FY08, sees EPS of $2.05-2.15 vs. $1.89 consensus, up from $1.85-2.00; reaffirms FY08 revs of $2.0-2.2 bln vs. $2.14 bln consensus.
4:27PM CB&I reports Q2 (Jun) results, misses on revs; reaffirms FY08 EPS guidance, guides FY08 revs in-line (CBI) 33.80 +0.74 : Reports Q2 (Jun) loss of $1.47 per share, includes charge, may not be comparable to the First Call consensus of ($1.31); revenues rose 41.2% year/year to $1.43 bln vs the $1.51 bln consensus. Co issues mixed guidance for FY08, sees EPS of $0.40-0.60 vs. $0.73 consensus; sees FY08 revs of $6.1-6.3 bln vs. $6.21 bln consensus. "CB&I announced previously that it is taking a pre-tax charge of approximately $317 million, or $2.38 per share, for forecasted cost overruns associated with two major LNG projects in the UK. 2008 new awards will be in the range of $6.5 to $7.0 billion."
4:24PM RadiSys beats by $0.08, beats on revs; guides Q3 EPS above consensus, revs above consensus (RSYS) 10.46 +0.70 : Reports Q2 (Jun) earnings of $0.14 per share, $0.08 better than the First Call consensus of $0.06; revenues rose 29.6% year/year to $97.6 mln vs the $87.8 mln consensus. Co issues upside guidance for Q3, sees EPS of $0.16-0.22 vs. $0.09 consensus; sees Q3 revs of $98-103 mln vs. $91.20 mln consensus. Co says Q3 gross margin percent is expected to be similar to or slightly up from Q2.
4:24PM Starent Networks beats by $0.08, beats on revs (STAR) 11.56 -0.27 : Reports Q2 (Jun) earnings of $0.25 per share, excluding non-recurring items and excluding stock based compensation, $0.08 better than the First Call consensus of $0.17; revenues rose 98.1% year/year to $61.2 mln vs the $57.9 mln consensus. Co also announced today that, in the litigation filed by UTStarcom in May 2007 against the co and certain employees and former employees alleging, among other things, patent infringement and trade secret claims, on July 23, 2008 the United States District Court for the Northern District of Illinois granted STAR's motion to dismiss ten of UTStarcom's fifteen claims, including the trade secret claims and all claims against the individual defendants.
4:18PM Incyte: misses by $0.05, misses on revs (INCY) 9.94 -0.40 : Reports Q2 (Jun) earnings of -$0.54 per share, $0.05 worse than the First Call consensus of -$0.50; revenues decreased 94.34% year/year to $0.6 mln vs $0.98 mln consensus.
4:09PM General Cable beats by $0.06, reports revs in-line; guides Q3 EPS below consensus, revs in-line (BGC) 61.56 +1.81 : Reports Q2 (Jun) earnings of $1.37 per share, $0.06 better than the First Call consensus of $1.31; revenues rose 48.6% year/year to $1.74 bln vs the $1.73 bln consensus. For Q3, co sees EPS of $1.17-1.27 vs. $1.28 consensus; sees Q3 revs of $1.675-1.725 bln vs. $1.69 bln consensus.
4:06PM GMarket beats by $0.09, misses on revs (GMKT) 21.56 +0.24 : Reports Q2 (Jun) earnings of $0.30 per share, $0.09 better than the First Call consensus of $0.21; revenues rose 26.2% year/year to $66.9 mln vs the $70.4 mln consensus. Co's gross merchandise value ("GMV"), which represents the total value of all items sold on Gmarket's website, increased by 25% to Won 971.1 billion ($927.7 million) for the second quarter of 2008 compared to Won 780.0 billion for the same period in 2007.
4:04PM Electronic Arts misses by $0.09, misses on revs; reaffirms FY09 guidance (ERTS) 47.40 +1.35 : Reports Q1 (Jun) loss of $0.42 per share, excluding non-recurring items, $0.09 worse than the First Call consensus of ($0.33); revenues rose 41.3% year/year to $609 mln vs the $639.9 mln consensus. Co reaffirms guidance for FY09, sees EPS of $1.30-1.70, excluding non-recurring items, vs. $1.59 consensus; sees FY09 revs of $5.0-5.3 bln vs. $5.15 bln consensus.
4:03PM Buffalo Wild Wings beats by $0.04, beats on revs (BWLD) 31.04 +1.78 : Reports Q2 (Jun) earnings of $0.31 per share, $0.04 better than the First Call consensus of $0.27; revenues rose 28.8% year/year to $97.9 mln vs the $94.6 mln consensus. Co guides FY08: rev growth of 20% and 25% net earnings growth target. Same-store sales continue to be strong in July, with increases of over 6% at company-owned and over 2% at franchised restaurants.
4:02PM Portfolio Recovery Assoc. misses by $0.06, misses on revs (PRAA) 42.24 +1.79 : Reports Q2 (Jun) earnings of $0.75 per share, $0.06 worse than the First Call consensus of $0.81; revenues rose 16.1% year/year to $63.6 mln vs the $66.4 mln consensus.
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