Earnings - 8th July 2008

:29PM EZCORP raises Q3 and FY08 EPS guidance above consensus (EZPW) 15.47 +1.35 : Co raises Q3 EPS guidance to $0.25 vs $0.21 consensus up from $0.21 prior guidance; co also raises Q4 EPS to $0.35 vs $0.35 consensus and FY08 EPS guidance to $1.19 vs $1.15 consensus, which includes an approximate one cent per share benefit from the Value Financial Services acquisition, which is expected to close around July 31st. Co says, "In our June quarter, we realized stronger than expected sales gross profit in our U.S. EZPAWN operation and lower than expected levels of signature loan bad debt in our EZMONEY operation. While our pawn and signature loan portfolios grew during the quarter, their rate of growth was less than we typically see during this period -- leaving our loan balances at a lower than anticipated level going into our September quarter. All of these factors were influenced to some degree by the economic stimulus checks received by our customers during May and June."

4:36PM Alcoa reports Q2 results, beats on revs (AA) 32.33 -1.06 : Reports Q2 (Jun) earnings of $0.66 per share, including a $0.05 per share impact from previously announced gas pipeline explosion in Western Australia and power disruptions at the Rockdale smelter, vs the First Call consensus of $0.66; revenues fell 5.5% year/year to $7.62 bln vs the $7.36 bln consensus. Higher input costs impacting the entire aluminum industry were offset by higher volume and stronger pricing. On a year-to-date basis, the co repurchased 18.3 mln shares bringing total repurchases to 10% against the Board authorized level of up to a maximum of 25% of shares outstanding.

4:30PM Cache reports 6% comparable store sales increase in June 2008, provides updated guidance (CACH) 12.68 +0.89 : Co reports June 2008 sales figures. For the five-week period ended June 28, 2008, comparable store sales increased 6%, as compared to an increase of 1% for the five-week period ended June 30, 2007. Total net sales for the five-week June 2008 period increased $1.3 mln or 6% to $23.3 mln, as compared to the same period last year. Co sees Q2 EPS of $0.14-0.15, up from previous guidance of $0.12-0.14, vs $0.14 First Call consensus. Co sees Q3 EPS of $0.01-0.02 vs $0.04 First Call consensus; sees revs $62-64 mln vs $61.57 mln First Call consensus. Co expects third quarter fiscal 2008 comparable store sales to increase in the low to mid-single digit range. Co sees FY08 $0.52-0.56, ex items, vs $0.54 First Call consensus; sees revs $286-290 mln vs $280.53 mln First Call consensus.

4:21PM Circor raises Q2 EPS guidance above consensus (CIR) 50.22 +0.95 : Co raises Q2 EPS guidance to $1.04-1.10 vs $0.80 consensus, up from prior guidance of $0.74-0.83. Co says, "Our Energy segment had another tremendous quarter with continued strong revenue growth and margins that exceeded the record high set in Q1, 2008. In addition, performance in our Instrumentation & Thermal Fluid Controls segment was very strong with margins in the range of the excellent results of Q1, 2008. Generally speaking, our markets held strong in the quarter and our lean manufacturing efforts are helping to transform strong sales into higher margins

4:01PM G-III Apparel announces acquisition of assets of Wilsons Leather Outlet Stores, raises FY09 guidance based on acquisition (GIII) 12.29 +0.49 : Co announces it has acquired certain assets of Wilsons The Leather Experts (WLSN). The assets acquired included 116 outlet store locations, $18.5 mln in inventory, distribution center operations and the Wilsons name and other related trademarks and trade names. G-III noted that the total purchase price for the assets acquired was approximately $22.3 mln in cash. The co stated that the acquisition was expected to be accretive for fiscal 2009 given the seasonality of the business and the timing of the acquisition. "... We expect to be able to seamlessly create a vertical retail organization and move quickly to realize the benefits of that structure." The Company noted that Joel Waller, former Chief Executive Officer of Wilsons The Leather Experts, would return as President of G-III's outlet store division.... The co also revised its guidance for fiscal 2009, as a result of the acquisition of the Wilsons outlet stores. The co now expects FY09 net sales in the range of $720 to $730 mln up from $650 to $660 mln vs $661.86 mln. The co also now anticipates net income for FY09 in the range of $23.5 to $24.4 mln, or $1.35 to $1.40 per diluted share up from $1.25 to $1.30 per diluted share vs $1.29 consensus. Co notes the revisions to its forecast did not include any change to its forecast for its base business

9:20AM VMware announces departure of President and CEO; says FY08 rev growth to be modestly below prior +50% growth guidance (VMW) 53.19 : Co announces that it has made a change in the leadership of the company with the departure of Diane Greene as President and CEO. VMware's Board of Directors has appointed Paul Maritz as President and CEO of VMware effective immediately. Maritz was also named to VMware's Board of Directors. Co said, "While VMware is not updating guidance for Q2, we expect revenues for the full year of 2008 will be modestly below the previous guidance of 50% growth over 2007." (Current consensus ests are for YoY rev growth of ~50.6%)

9:01AM Rick's Cabaret reports nightclub sales for Q3 up 92% over last year (RICK) 15.00 : Co announces nightclub sales for its Q3 ended June 30 totaled $15.89 mln, a 92.1% increase over the previous year. The co said same club-same period sales for the quarter were $8 mln, an 8.43% increase over the same period in the previous year. Co considers nightclubs it has operated for 12 months or more for comparable sales... Co also said the New York City club continued its strong year-over-year growth and new clubs in Dallas and Philadelphia have begun contributing revenues and Tootsie's Cabaret in Miami continued to exceed initial expectations.

8:13AM Cardinal Health formalizes consolidation of businesses into two primary operating and reporting segments; reaffirms FY08 guidance (CAH) 50.64 : Co announces a consolidation of its businesses into two primary operating and reporting segments to reduce costs and align resources with the unique needs of each segment. Cardinal Health's network of pharmaceutical and medical product distribution centers and nuclear pharmacies will form the Healthcare Supply Chain Services segment. With annual revenue of more than $80 bln, this segment serves customers in North America with efficient and secure distribution services for prescription medicine and medical products. Industry leading products for infusion, medication dispensing, respiratory care and infection prevention will be grouped in the Clinical and Medical Products segment under the leadership of Vice Chairman David L. Schlotterbeck. With annual revenue of approximately $5 bln, this segment serves global customers with clinically differentiated products used in hospitals and other primary care facilities. With these changes, the company will reduce its workforce by approximately 600 positions under a restructuring charge of approximately $63 million, the substantial majority of which it expects to recognize in the current fiscal year, which began July 1. Co also reaffrims FY08 EPS $3.75-3.85, ex items, vs $3.78 First Call consensus.

6:12AM Greenbrier Comp beats by $0.11, beats on revs (GBX) 18.94 : Reports Q3 (May) earnings of $0.49 per share, $0.11 better than the First Call consensus of $0.38; revenues fell 1.2% year/year to $382.1 mln vs the $352.9 mln consensus. New railcar manufacturing backlog was 17,500 units valued at $1.55 bln at May 31, 2008, compared to 18,800 units valued at $1.64 bln at February 29, 2008.