Earnings - 22nd Aug 2008

7:47AM AnnTaylor beats by $0.05; guides Q3 below consensus, Q4 above consensus; reaffirms FY09 EPS guidance (ANN) 24.29 : Reports Q2 (Jul) earnings of $0.54 per share, excluding non-recurring items, $0.05 better than the First Call consensus of $0.49; revenues rose 3.7% year/year to $614.5 mln vs the $622.9 mln consensus. Co issues downside guidance for Q3, sees EPS of $0.50-0.55, excluding non-recurring items, vs. $0.65 consensus. Co issues upside guidance for Q4 (Jan), sees EPS of $0.30-0.35 vs. $0.21 consensus. Co reaffirms guidance for FY09, sees EPS of $1.80-1.90 vs. $1.82 consensus.


7:32AM Perry Ellis misses by $0.07, misses on revs; guides FY09 EPS below consensus, reaffirms FY09 revs guidance (PERY) 23.00 : Reports Q2 (Jul) loss of $0.09 per share, excluding non-recurring items, $0.07 worse than the First Call consensus of ($0.02); revenues fell 0.8% year/year to $193.7 mln vs the $197.9 mln consensus. Co issues guidance for FY09, sees EPS of $1.75-1.80, excluding $0.08 non-cash impairment charge for marketable securities, compared to previous guidance of $1.95-2.00, vs. $2.00 consensus; reaffirms FY09 revs of $910-925 mln vs. $933.51 mln consensus.


7:05AM SkillSoft beats by $0.03, beats on revs; guides Q3 EPS in-line, revs in-line; raises Y09 guidance (SKIL) 9.89 : Reports Q2 (Jul) earnings of $0.10 per share, $0.03 better than the First Call consensus of $0.07; revenues rose 16.5% year/year to $83.3 mln vs the $82.4 mln consensus. Co issues in-line guidance for Q3, sees EPS of $0.09-0.10 vs. $0.09 consensus; sees Q3 revs of $84-85.5 mln vs. $84.83 mln consensus. Co issues guidance for FY09, sees EPS of $0.35-0.38, compared to previous guidance of $0.32-0.35, vs. $0.34 consensus; sees FY09 revs of $335-338 mln, compared to previous guidance of $329-336 mln, vs. $336.43 mln consensus. Co sees Y09 adjusted EBITDA of $101-103 mln, compared to previous guidance of $96-100 mln.

6:34AM China Sunergy beats by $0.05, beats on revs; reaffirms Y08 production target (CSUN) 9.93 : Reports Q2 (Jun) earnings of $0.08 per share, $0.05 better than the First Call consensus of $0.03; revenues rose 44.9% year/year to $111.6 mln vs the $94.7 mln consensus. Co sees all of the 4 new production lines in mass production in Q4 despite some possible delays in electricity supply and equipment delivery. Co sees total capacity of 320 MW by the end of the yr assuming the use of 156-mm mono- crystalline silicon wafers. Co reaffirms Y08 production target of 125-145 MW, with approx 55-75 MW expected to come from high efficiency cell products. Taking into account the increased wafer costs for Q3 as well as the uncertainties in terms of wafer quality and foreign exchange fluctuation, the co sees gross margins of 9-11%, and production volume in the range of 35-37MW. Blended ASP is expected to be approx $3.40-3.50 per/watt. For Y09, co is working on a plan to support a production target of 220-250MW including 20-25% from OEM business. Gross margin should strengthen from early 2009 as a result of better terms from suppliers, improved operational and production efficiencies, and the expected decline in wafer costs more than offsetting any potential ASP weakness.