Earnings - 11th Aug 2008

6:53PM Zoltek misses by $0.20, misses on revs (ZOLT) 18.28 -2.81 : Reports Q3 (Jun) earnings of $0.07 per share, includes $0.05 debt charge, excluding non-recurring items, $0.20 worse than the First Call consensus of $0.27; revenues rose 11.7% year/year to $45 mln vs the $58.1 mln consensus. Co says, "The decline in sales from Q2 to Q3 was due in part to the reduced shipments against two major wind contracts, the timing of shipments between the periods and lower technical fiber sales. The co's sales goal for FY08 was based upon assumptions which included the successful completion of a new contract from a major wind turbine customer. However, ZOLT experienced a dearth of significant new contracts from customers in the wind energy field over the past year, which the co attributes to concerns among wind turbine producers regarding the availability and pricing of the high-performance carbon fibers used in making the longest and most powerful wind turbine blades. We are working closely with every one of the major wind turbine manufacturers to address their concerns about incorporating carbon fibers in their design and, while we cannot predict the exact timing, we expect to win new contracts leading to resumption of ZOLT's rapid sales growth. All the major wind turbine producers are designing longer blades and at some length, which may be different for each turbine co, carbon fiber reinforcement becomes necessary and economically competitive. The fundamentals of alternative energy generally -- and wind energy in particular -- are strong and growing, and we expect that growth will continue for many years to come. This business is not going away over the next few years. It's only going to get much bigger>"

4:43PM Airmedia beats by $0.01, beats on revs; guides Q3 revs in-line; guides FY08 revs above consensus (AMCN) 11.15 -0.33 : Reports Q2 (Jun) earnings of $0.12 per share, $0.01 better than the First Call consensus of $0.11; revenues rose 250.6% year/year to $29.8 mln vs the $27.7 mln consensus. Co issues in-line guidance for Q3, sees Q3 revs of $31.0-$33.0 mln vs. $31.86 mln consensus. Co issues upside guidance for FY08, sees FY08 revs of $122.4-$126.4 mln vs. $119.38 mln consensus.

4:39PM International Assets Hldg reports Q3 results (IAAC) 36.00 +0.02 : Co reports Q3 EPS of $0.72 vs ($0.46) in 3Q07; revs rose 226% YoY to $30.96 mln - no ests. "GAAP operating revenues for the third quarter and nine months to date were over three times higher than those of the comparable periods last year and net income was $6.8 mln and $25.7 mln for the three months and nine months, compared with losses for the comparable periods last year. Management believes that adjusted marked-to-market (non-GAAP) results are a better reflection of the Company's performance. On a non-GAAP basis, adjusted operating revenues were up 25% and 57% while adjusted pro forma net income was up 1% and 55% for the third quarter and nine months to date, respectively."

4:18PM Capstone Turbine misses by $0.02, misses on revs (CPST) 2.42 -0.24 : Reports Q2 (Jun) loss of ($0.07) per share, $0.02 worse than the First Call consensus of ($0.05); revenues rose 34% year/year to $7.5 mln vs the $9.73 mln consensus. CPST's backlog at the end of Q1 was $42.7 mln, an increase of approx $14.8 mln, or 53%, from the prior quarter and an increase of approx $37.4 mln, or 706%, from the end of the prior year comparable quarter.

4:14PM LDK Solar beats by $0.87, beats on revs; guides Q3 revs above consensus; guides FY08 revs above consensus (LDK) 33.58 +0.09 : Reports Q2 (Jun) earnings of $1.29 per share, $0.87 better than the First Call consensus of $0.42; revenues rose 345.9% year/year to $441.7 mln vs the $282 mln consensus. Co issues upside guidance for Q3, sees Q3 revs of $486-496 mln vs. $307.05 mln consensus with wafer shipments between 210 MW to 220 MW. Co issues upside guidance for FY08, sees FY08 revs of $1.65-1.75 bln vs. $1.16 bln consensus with wafer shipments in the range of 750 MW to 770 MW. Gross profit margin for the second quarter of fiscal 2008 was 25.4% compared with 35.2% in the second quarter of fiscal 2007. Operating profit margin for the second quarter of fiscal 2008 was 22.7% compared with 31.1% in the second quarter of fiscal 2007.

4:12PM Fluor beats by $0.05, beats on revs; guides FY08 EPS above consensus (FLR) 76.18 -0.14 : Reports Q2 (Jun) earnings of $0.87 per share, excluding non-recurring items, $0.05 better than the First Call consensus of $0.82; revenues rose 36.8% year/year to $5.77 bln vs the $5.18 bln consensus. Co issues upside guidance for FY08, sees EPS of $3.39-3.54, excluding non-recurring items, vs. $3.29 consensus.

4:12PM McDermott reports EPS in-line, misses on revs (MDR) 41.64 +0.33 : Reports Q2 (Jun) earnings of $0.77 per share, in-line with the First Call consensus of $0.77; revenues rose 26.4% year/year to $1.79 bln vs the $1.85 bln consensus.

4:12PM Safe Bulkers beats by $0.21, beats on revs (SB) 18.00 -0.30 : Reports Q2 (Jun) earnings of $0.82 per share, $0.21 better than the First Call consensus of $0.61; revenues rose 48.1% year/year to $51.4 mln vs the $49.6 mln consensus. "We have benefited from a balanced chartering policy which provides us with a high level of contracted base cash flow, but at the same time allows us to benefit from a continued strong market. Our most recent period time charter for one of our Panamax vessels that we announced earlier this month, at an average daily rate of $63,000 less 1.25% commissions for a period between 22 and 24 months, with nine months forward delivery, demonstrates our ability to develop direct business with the industry's major charterers..."

4:08PM PDL BioPharma beats by $0.15, beats on revs; (PDLI) 11.57 +0.05 : Reports Q2 (Jun) earnings of $0.35 per share, $0.15 better than the First Call consensus of $0.20; revenues rose 25.6% year/year to $111.9 mln vs the $87.27 mln consensus. In conjunction with this press release, PDL announced that Richard Murray, Ph.D., executive vice president and chief scientific officer, will resign from the company, effective September 5, to pursue personal and then other professional interests.

4:05PM American Science & Engineering misses by $0.23, misses on revs (ASEI) 58.98 +0.38 : Reports Q1 (Jun) earnings of $0.30 per share, $0.23 worse than the First Call consensus of $0.53; revenues fell 11.2% year/year to $39.5 mln vs the $46.5 mln consensus. The Company reported a record $100 million in bookings for the first quarter of fiscal year 2009 versus $43 million in the first quarter of the prior fiscal year. Backlog for the first quarter of fiscal year 2009 increased 53% to a record $160 million as compared to the first quarter of the prior fiscal year.

4:03PM American Oriental beats by $0.01, beats on revs; guides FY08 revs in-line (AOB) 9.33 -0.02 : Reports Q2 (Jun) earnings of $0.18 per share, $0.01 better than the First Call consensus of $0.17; revenues rose 74.0% year/year to $59 mln vs the $52.8 mln consensus. Co issues in-line guidance for FY08, sees FY08 revs of at least $245 mln vs. $246.03 mln consensus.

10:27AM GeoResources reports Q2 EPS of $0.50 vs $0.34 two analyst est, revs rose 240% YoY to $28.2 mln vs $22.6 mln two analyst est (GEOI) 14.52 +0.45 :

9:12AM Targa Resources beats by $0.07 (NGLS) 21.80 : Reports Q2 (Jun) earnings of $0.54 per share, $0.07 better than the First Call consensus of $0.47; revenues rose 45.4% year/year to $630.5 mln.

8:47AM Pepco Hldgs beats by $0.14 (POM) 25.03 : Reports Q2 (Jun) earnings of $0.53 per share, excluding non-recurring items, $0.14 better than the First Call consensus of $0.39.

8:12AM Natural Resource beats by $0.05, beats on revs; guides FY08 EPS above consensus, revs in-line (NRP) 34.61 : Reports Q2 (Jun) earnings of $0.47 per share, $0.05 better than the First Call consensus of $0.42; revenues rose 47.9% year/year to $75.6 mln vs the $69 mln consensus. Co issues upside guidance for FY08, sees EPS of $1.85-1.70 vs. $1.66 consensus; sees FY08 revs of $297-273 mln vs. $280.74 mln consensus. Production increased 2.5 mln tons from 2Q07 to 16.1 mln tons for 2Q08 mainly due to increased production at the Williamson mine in the Illinois Basin, where NRP experienced a full qtr of longwall production from the new mine.