Earnings - 9th July 2008

6:28PM Energy Transfer raises guidance and recommends increase in unitholder distributions (ETP) 42.86 +0.61 : Co announced that the Partnership has raised its 2008 and 2009 EBITDA guidance to reflect the Partnership's continued confidence in its operations and the overall natural gas market environment. The Partnership expects EBITDA for the twelve-month period ending December 31, 2008 to total $1.35 bln, an increase of $100 mln, or 8%, from the $1.25 bln previously forecasted. The Partnership also increased its EBITDA guidance for the twelve-month period ending December 31, 2009 by $150 mln, resulting in an EBITDA forecast range of $1.7-1.8 bln, up from the previous forecast range of $1.55-1.65 bln. In addition, ETP announced that management will recommend that the Board of Directors of ETP approve a quarterly distribution of $0.89375 per common unit ($3.575 annualize

5:41PM AAR Corp beats by $0.01, beats on revs (AIR) 14.43 +0.22 : Reports Q4 (May) earnings of $0.52 per share, $0.01 better than the First Call consensus of $0.51; revenues rose 28.1% year/year to $391.7 mln vs the $372.7 mln consensus.

4:26PM Ruby Tuesday beats by $0.07, reports revs in-line; guides FY09 EPS in-line (RT) 5.29 -0.51 : Reports Q4 (May) earnings of $0.27 per share, including a $0.02 charge, $0.07 better than the First Call consensus of $0.20; revenues fell 4.3% year/year to $341.4 mln vs the $341.8 mln consensus. Co issues in-line guidance for FY09, sees EPS of $0.50-0.70 vs. $0.51 consensus. Co says, "Same-restaurant sales are expected to decline at a rate in the low to mid-single digits for the year, improving sequentially throughout the year. We expect Q1 same-restaurant sales to be down 8-9%... Restaurant operating margins are anticipated to be down marginally, reflecting higher labor and other operating costs that are partially offset by lower food costs."

4:18PM Central European Dist closes strategic investment in the Russian Alcohol Group; Increases FY08 and 09 EPS guidance, reiterates FY08 and 09 rev guidance (CEDC) 74.02 +2.57 : As a result of this investment, the Co is raising its full year 2008 comparable fully-diluted earnings per share guidance from $2.50-$2.65 to $2.65-$2.80 vs $2.73 First Call consensus. The Company is also increasing its full year 2009 comparable fully-diluted earnings per share guidance from $3.50-$3.70 to $3.75-$4.00 vs $3.76 First Call consensus. As the investment will be accounted for under the equity method of accounting, there is no change to the Company's full year guidance on net sales of $1.57-$1.70 billion for 2008, vs $1.68 bln First Call consensus, and $1.93-$2.03 billion for 2009, vs $2.00 bln First Call consensus.


4:09PM California Pizza raises Q2 EPS guidance, reports Q2 revs in line with consensus; reaffirms Y08 guidance; announces buyback (CPKI) 11.20 -0.66 : Co raises Q2 EPS guidance to $0.25-0.26, compared to previous guidance of $0.16-0.17, vs. $0.17 First Call consensus; sees Q2 (Jun) revs of $176.6 mln vs. $175.31 mln consensus. Co reports comparable restaurant sales +1.4%. Co raised EPS guidance due to Q2 revenues, positive comparable restaurant sales from the co's Thank You Card Program and a continued focus on operating efficiencies. Co announces that its Board of Directors has authorized the repurchase of up to $50 mln of common stock over the next 2 years. "We are very pleased with our second quarter preliminary results given the challenging market conditions. However, despite our better-than-expected performance, we are not adjusting full year 2008 guidance at this time due to limited sales visibility and an ongoing concern for the economy. We will address our outlook in greater detail on our second quarter earnings conference call on August 7, 2008."

4:07PM Men's Wearhouse sees Q2 EPS of $0.70-0.74, ex items, down from previous guidance of $0.75-0.79 vs $0.75 First Call consensus (MW) 16.72 -0.84 : "There are two principal reasons for the Q2 estimate update. First, severance costs related to the closing of the Canadian based manufacturing facility operated by the co's subsidiary, Golden Brand, have been finalized. Total closing costs for the second quarter are now estimated at diluted EPS of $0.09. This compares to previous estimates of diluted EPS of $0.06. Second, tuxedo rental unit volume from the Company's MW Tux stores is running below previous estimates for the quarter. As a result, consolidated tuxedo rental revenues for the second quarter are now estimated to decrease in the mid single digit range from the prior year versus the previous estimate of a decrease in the low single digit range. While the updated estimates for second quarter rental revenues are below our initial expectations they are still better year-over-year than we experienced in the first quarter."

4:02PM Shaw Group beats by $0.07, misses on revs (SGR) 55.31 +1.36 : Reports Q3 (May) earnings of $0.70 per share, excluding non-recurring items, $0.07 better than the First Call consensus of $0.63; revenues rose 13.6% year/year to $1.82 bln vs the $1.89 bln consensus.

9:15AM A-Power Energy completes the construction of the "largest wind turbine production facility in China"; On track to begin its production of wind turbines (APWR) 22.89 : Co announces that it has completed the construction of the first phase of its wind turbine production facility in Shenyang, China. The first phase is a 310,000 square foot production facility with an annual capacity to produce 300 2.5MW wind turbines and 420 750kW wind turbines. It is estimated that construction on phase 2 will commence in Q4 2009 and will be completed in about 4 months at a cost of approx $10 mln. After phase 2 is completed, APWR will have the capacity to produce 400 2.5MW wind turbines and 550 750kW wind turbines each year. Co states, "Production of our wind turbines is expected to begin later this quarter and we expect it will become a significant revenue contributor beginning in 2009."

9:12AM Rudolph Tech guides Q2 revs above consensus; reafirms EPS guidance; sees sequential revenue growth in Q3 (RTEC) 7.73 : Co guides revs for Q2 (Jun) above consensus, sees rev above $38 mln vs. $36.50 mln consensus; says EPS guidance remains unchanged. Co also said that it now anticipates quarterly sequential revenue growth in the 2008 third quarter. Co said, "The strengthening of our back-end business, the early acceptance of some of our new products, and an acceleration of product sales resulting from our recent acquisitions have enabled us to exceed our previous revenue guidance of flat to down five percent for the second quarter of 2008 ending June 30th."

8:31AM QLogic raises guidance for Q1 above consensus (QLGC) 13.96 : Co issues upside guidance for Q1 (Jun), sees EPS of $0.30-0.31 vs. $0.27 First Call consensus, prior guidance $0.26-0.28; sees Q1 (Jun) revs of $166-168 mln vs. $156.40 mln consensus, prior guidance $154-158 mln. Co said that "performance was driven by sequential growth of approximately 9% for our Host Products and approximately 8% for our Network Products from the fourth quarter of fiscal 2008."