4:21PM Emulex beats by $0.01, misses on revs; guides Q1 EPS below consensus, revs below consensus; announces $100 mln share buyback (ELX) 11.96 +0.27 : Reports Q4 (Jun) earnings of $0.22 per share, $0.01 better than the First Call consensus of $0.21. Co issues downside guidance for Q1, sees EPS of $0.18-0.20 vs. $0.22 consensus; sees Q1 revs of $108-111 mln vs. $116.30 mln consensus. "In early August, the Board of Directors approved approximately $40 million of share repurchases in the first quarter of fiscal 2009, which is the remaining amount available under the existing 2006 Share Repurchase Plan. In addition, the Board also authorized a new plan of $100 million of share repurchases."
4:21PM Ntelos Holdings reports Q2 earnings, misses on revs, raises FY08 EBITDA guidance (NTLS) 24.15 -0.12 : Reports Q2 (Jun) earnings of $0.46 per share, including $9.5 mln gain on interest rate swap, may not compare to the First Call consensus of $0.22; revenues rose 5.7% year/year to $131 mln vs the $132.5 mln consensus. The company is increasing its 2008 guidance for consolidated adjusted EBITDA to now be between $224-$228 mln, from the range of $216-$221 mln previously provided.
4:18PM World Fuel Svcs beats by $0.22, beats on revs (INT) 25.15 -0.80 : Reports Q2 (Jun) earnings of $0.71 per share, $0.22 better than the First Call consensus of $0.49; revenues rose 72.7% year/year to $5.65 bln vs the $4.54 bln consensus.
4:16PM Allion Healthcare beats by $0.02, beats on revs, guides Q3 revs above consensus (ALLI) 5.35 -0.16 : Reports Q2 (Jun) earnings of $0.11 per share, $0.02 better than the First Call consensus of $0.09; revenues rose 38.8% year/year to $86.4 mln vs the $82.5 mln consensus. For Q3, co expects revenue of $86-88 mln vs. $83.5 mln consensus; co expects Q3 EPS of $0.10-0.11 vs consensus of $0.10.
4:16PM PharMerica beats by $0.05, reports revs in-line; guides FY08 EPS in-line, revs in-line (PMC) 23.17 -0.62 : Reports Q2 (Jun) earnings of $0.22 per share, $0.05 better than the First Call consensus of $0.17; revenues rose 180.4% year/year to $486.3 mln vs the $483.1 mln consensus. Co issues in-line guidance for FY08, sees EPS of $0.74-0.83 vs. $0.80 consensus; sees FY08 revs of $1.945-1.965 bln vs. $1.95 bln consensus. The fiscal 2008 earnings guidance above does not consider any integration, merger related costs or other charges the Corporation may incur. The integration, merger related costs and other charges are expected to exceed $15.0 million for fiscal year 2008.
4:12PM CDC Corp beats by $0.03, beats on revs (CHINA) 3.05 +0.15 : Reports Q2 (Jun) earnings of $0.04 per share, $0.03 better than the First Call consensus of $0.01; revenues rose 10.2% year/year to $111 mln vs the $103.6 mln consensus. Total revenue for CDC Games during Q2 was $10.8 mln. This represents an increase of 24% from 1Q08, and was the second consecutive quarter of sequential-quarter growth for CDC Games. Co states, "...Our cash balance remains very strong with non-GAAP cash and cash equivalents equal to $233 mln, and we have continued to generate cash from operations. We believe that our stock is undervalued as indicated by our continued commitment to the company's stock buyback program, as well as my personal purchases."
4:11PM Fuel Systems Solutions beats by $0.02, beats on revs; guides FY08 revs below consensus (FSYS) 41.56 -0.63 : Reports Q2 (Jun) earnings of $0.29 per share, including impairment charges, $0.02 better than the First Call consensus of $0.27; revenues rose 49.8% year/year to $98.3 mln vs the $93 mln consensus. Co issues downside guidance for FY08, sees FY08 revs of $350 vs. $354.90 mln consensus. Co increasing its gross profit margin to approximately 27% and operating margin to approximately 12%."
4:10PM EnerNOC beats by $0.03, beats handily on revs; guides FY08 revs in-line (ENOC) 14.14 +0.06 : Reports Q2 (Jun) loss of $0.54 per share, $0.03 better than the First Call consensus of ($0.57); revenues rose 97.1% year/year to $23.7 mln vs the $19.4 mln consensus. Co issues in-line guidance for FY08, sees FY08 revs of $101-107 mln vs. $103.0 mln consensus. Co continues to expect to generate positive cash flow from operations in 2H09 and that 2010 will be its first full year of profitability.
4:09PM California Pizza reports EPS in-line, revs in-line; guides FY08 EPS in-line (CPKI) 14.01 -0.39 : Reports Q2 (Jun) earnings of $0.26 per share as pre-announced on 7/09/2008, in-line with the First Call consensus of $0.26; revenues rose 11.4% year/year to $176.6 mln as pre-announced on 7/09/2008 vs the $176.8 mln consensus. Co raised their guidance for FY08, sees EPS of $0.65-0.70 up from $0.59-0.65 vs. $0.70 consensus.Co sees comparable restaurant sales of negative 1% to 0%, the opening 12 full service restaurants, and the Opening nine international full service franchise restaurants.
4:08PM The Knot misses by $0.02, misses on revs; lowers FY08 rev guidance below consensus (KNOT) 8.84 +0.10 : Reports Q2 (Jun) earnings of $0.07 per share, $0.02 worse than the First Call consensus of $0.09; revenues rose 0.7% year/year to $28.7 mln vs the $31.2 mln consensus. Co lowers guidance for FY08, sees FY08 revs up 9-11%, or roughly $107.6-109.5 mln vs. $111.45 mln consensus. "The second quarter proved to be challenging on a number of fronts. Given the weak economic environment and recent revenue results, we're taking a conservative stance and lowering our guidance for percentage revenue growth for 2008 from mid-teens to 9-11%.... We've made considerable progress toward completing our platform investments and upgrades. We look forward to successfully concluding this investment cycle, and we expect that the changes we're implementing today will support sustained long-term growth and profitability for The Knot in the years to come."
4:08PM Deckers Outdoor beats by $0.15, beats on revs; guides Q3 EPS below consensus, revs in-line; raises FY08 guidance (DECK) 115.16 +3.18 : Reports Q2 (Jun) earnings of $0.39 per share, excluding non-recurring items, $0.15 better than the First Call consensus of $0.24; revenues rose 72.9% year/year to $91.1 mln vs the $78.6 mln consensus. Co issues mixed guidance for Q3, sees EPS growth of 12% (which calc to ~$1.65 vs. $2.00 consensus); sees Q3 revs growth of 34% (which calc to ~$173.37 mln vs. $171.79 mln consensus). Co raises guidance for FY08, sees EPS growth of ~34%, up from 27% (which calc to ~$6.78 vs. $6.50 consensus); sees FY08 revs growth of 43%, up from 31% (which calc to ~$641.97 mln vs. $599.15 mln consensus).
4:07PM Sapient beats by $0.03, beats on revs (SAPE) 7.07 -0.01 : Reports Q2 (Jun) earnings of $0.09 per share, $0.03 better than the First Call consensus of $0.06; revenues rose 27.9% year/year to $170.3 mln vs the $158.4 mln consensus.
7:07PM Providence Service Corp beats by $0.01, reports revs in-line; lowers FY08 EPS below consensus, revs below consensus (PRSC) 11.87 +0.10 : Reports Q2 (Jun) earnings of $0.27 per share, $0.01 better than the First Call consensus of $0.26; revenues rose 177.7% year/year to $173 mln vs the $171.8 mln consensus. Co lowers guidance for FY08, sees EPS of $1.00-1.01 vs. $1.04 consensus, down from $1.45-1.50; lowers FY08 revs to $650 mln vs. $657.03 mln consensus, down from $673 mln. Upside to this guidance could come from delayed new business procurements that could be worth up to approximately $100 million in revenue annually, possible payer rate adjustments, potential increased business and/or retroactive rate increases. However in the current economic environment it is uncertain if any of the above will occur in 2008.
6:23PM Republic Airways beats by $0.10, beats on revs (RJET) 9.29 -0.22 : Reports Q2 (Jun) earnings of $0.64 per share, excluding non-recurring items, $0.10 better than the First Call consensus of $0.54; revenues rose 22.2% year/year to $391.4 mln vs the $368.2 mln consensus.
5:37PM American Intl misses by $1.14 (AIG) 29.09 -0.80 : Reports Q2 (Jun) loss of $0.51 per share, excluding non-recurring items, $1.14 worse than the First Call consensus of $0.63. Included in the second quarter 2008 net loss and adjusted net loss was a pre-tax charge of approximately $5.56 billion ($3.62 billion after tax) for a net unrealized market valuation loss related to the AIG Financial Products Corp. (AIGFP) super senior credit default swap portfolio. In addition, the second quarter of 2008 included a pre-tax net loss of $518 mln ($337 mln after tax) for a credit valuation adjustment on AIGFP's assets and liabilities in accordance with FAS 157 and FAS 159. Co says, The continuation of the weak U.S. housing market and disruption in the credit markets, as well as global equity market volatility, had a substantial adverse effect on AIG's results in the second quarter... Our second quarter results were adversely affected by the severe conditions in the housing and credit markets and a very difficult investment environment. These results do not reflect the earnings power and potential of AIG's businesses and it is clear that we have a lot of work to do to restore AIG's profitability to where it should be. We are conducting a comprehensive review of all AIG's businesses with the objectives of improving results, reducing AIG's risk profile and protecting our capital base. We are examining every business, as well as the assumptions underlying how we do business in the markets where we have a presence. We are considering all options. Our goals are straightforward - to determine the optimal portfolio of businesses for AIG, sharpen our risk management and capital allocation processes, reduce expenses and continue to strengthen our accounting and reporting infrastructure.
5:05PM China Digital TV beats by $0.01, beats on revs; guides Q3 revs below consensus as orders shift into Q4 (STV) 12.30 +0.95 : Reports Q2 (Jun) earnings of $0.20 per share, $0.01 better than the First Call consensus of $0.19; net revenue rose 74.2% year/year to $19.4 mln vs the $18.8 mln consensus. Co issues downside guidance for Q3, sees Q3 net revenue of $15.5-16.5 mln vs. $21.1 mln consensus. Co issues in-line guidance for FY08, sees FY08 revs of $80-83 mln vs. $82.7 mln consensus. Co says that in May, a massive earthquake hit Sichuan province in southwestern China causing certain network operators to focus on recovery efforts and postpone planned network upgrades. Another macro issue affecting Q3 is the 2008 Beijing Olympic Games. The Company has found a great number of operators have decided to wait until after the Games to make any technological changes to their network systems, ensuring that all existing systems are functioning properly during the Olympic Games. These operators will delay placing smart card orders. Both of these one-time events will impact Q3 results. Co expects many of the orders deferred in Q3 will be made up in Q4. Therefore, for the full year 2008, the co maintains the forecast of smart card shipment volume at 11 mln.
5:03PM 51job misses by $0.04, misses on revs; guides Q3 EPS below consensus, revs below consensus (JOBS) 15.12 +0.62 : Reports Q2 (Jun) earnings of $0.10 per share, $0.04 worse than the First Call consensus of $0.14; revenues were $31.9 mln vs the $33.8 mln consensus. Co issues downside guidance for Q3, sees EPS of $0.11-0.14 vs. $0.15 consensus; sees Q3 revs of $29.9-31.3 mln vs. $35.19 mln consensus. "Despite this difficult market environment, we continue to view 2008 as a year of investment and will remain aggressive in executing our strategic initiatives of new product development and brand building. We manage our business for the long term and will not sacrifice future growth for short-term results. We strongly believe these investments will enable us to extend our market leadership position in China and position us for higher growth and profitability when economic conditions improve."
5:01PM Sina beats by $0.03, beats on revs; guides Q3 revs above consensus (SINA) : Reports Q2 (Jun) earnings of $0.43 per share, $0.03 better than the First Call consensus of $0.40; revenues rose 52.7% year/year to $91.3 mln vs the $89.5 mln consensus. Co issues upside guidance for Q3, sees Q3 revs of $100-104 mln vs. $98.30 mln consensus. "... Our online advertising business in China, in particular, continues to be robust, growing 59% year over year, and was a major driving force in allowing us to achieve a net income growth of 74% year over year... 'We expect SINA's advertising momentum to further accelerate in the third quarter, as we are prepared to provide an unprecedented online media coverage of the Beijing Olympic Games.''
5:01PM Medical Staffing misses by $0.02, misses on revs (MRN) 3.14 +0.15 : Reports Q2 (Jun) earnings of $0.03 per share, excluding non-recurring items, $0.02 worse than the First Call consensus of $0.05; revenues rose 52.1% year/year to $143 mln vs the $147.1 mln consensus.
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