Earnings - 15th Aug 2008

8:06AM China Wind Systems reports Q2 reults, issues FY08 guidance (CWSI) 3.17 : Co reports Q2 EPS of $0.02 vs $0.02 in 2Q07; revs rose 150% YoY to $11.2 mln. Sees 2008 revenues of $40.0 mln and $7.0 mln in net income after a 25% tax rate, or $0.11 per share. The co expects to produce 20,000 tons of forged products in 2009, generating up to $40 mln in revenues from the sale of forged products... China Wind Systems is in the process of installing the equipment related to its phase one expansion, including a ring-rolling mill and a 4,500-ton press to produce rolled rings up to 6.3 meters in diameter with cross sections measuring up to 700mm. Upon completion of the equipment installation, the Company expects to be capable of manufacturing forged products such as rolled rings, flanges and gear rims used in up to five megawatt (M.W.) wind turbine units, as well as shafts used in 1 M.W. to 3 M.W. wind turbine units. The designed annual capacity of the co's phase one expansion is 40,000 tons of rolled rings, flanges, shafts and gear rims.

7:53AM JC Penney beats by $0.02, reports revs in-line; guides Q3 EPS below consensus (JCP) 36.83 : Reports Q2 (Jul) earnings of $0.52 per share, $0.02 better than the First Call consensus of $0.50; revenues fell 2.5% year/year to $4.28 bln vs the $4.28 bln consensus. Co issues downside guidance for Q3, sees EPS of $0.70-$0.75 vs. $0.76 consensus, which includes the impact of the company's "largest non-holiday marketing event" moving from the third quarter in 2007 to the fourth quarter in 2008. Co sees Q3 total sales to decrease in low single digits and comparable sales to decrease mid-single digits.

7:04AM Abercrombie beats by $0.02, reports revs in-line; guides FY09 EPS below consensus (ANF) 52.57 : Reports Q2 (Jul) earnings of $0.88 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.86; revenues rose 5.1% year/year to $845.8 mln vs the $851.4 mln consensus. Co issues downside guidance for FY09, sees EPS of $4.95-5.00 vs. $5.36 consensus. Co expects 2H08 net income per share to be in the range of $3.40-3.45.