TKR, CNXT raises earnings forecasts

12:51PM Sociedad Quimica y Minera reaffirms outlook (SQM) 24.72 +1.16 : Co reiterated its statements from its second quarter 2008 earnings release regarding its expectations that results for the second half of this year will be significantly higher than both the results for the first half of this year and the results for the second half of 2007. "Based on the sales we have accomplished so far, our current projections indicate that we will achieve record results in the third quarter. Furthermore, we believe this trend will continue into the fourth quarter and next year, considering that market fundamentals are expected to be strong in the medium and long terms... Our expectations for the specialty plant nutrition, iodine and lithium markets have improved in the past 30 days, and in particular, sales volumes of iodine and lithium have exceeded our initial projections."

Timken raises earnings forecasts: TKR said Tuesday that it was raising its estimate for third-quarter earnings per share to $1.00 to $1.10 from 65 cents to 75 cents. For the full year of 2008, Timken lifted its forecast to $3.30 to $3.45, excluding special items, up from its previous estimate of $2.95 to $3.10 a share. The company is maintaining its fourth-quarter earnings estimate of 52 cents to 57 cents a share, excluding special items

6:37AM Conexant raises Q4 EPS guidance, reiterates revenue guidance (CNXT) 2.88 : Co issues upside guidance for Q4 (Sep), sees EPS of $0.24-0.26, excluding non-recurring items, vs. $0.15 First Call consensus; reiterates Q4 (Sep) revs of $120.0-125.0 mln vs. $122.27 mln consensus. "When we established expectations for the fourth fiscal quarter two months ago, we anticipated non-GAAP core operating income in a range between $14 mln and $16 mln, and core net income of $0.13 to $0.17 per share," said Scott Mercer, Conexant's chairman and chief executive officer. "At that time, we expected core gross margins of 51.5% to 52.5% of revenues. Because of a richer-than-anticipated product mix, we now expect core gross margins of 54% to 55%. During the quarter, our team also made better-than-expected progress reducing core operating expenses. "As a result, we now expect to deliver core operating income in a range between $19 mln and $20 mln, resulting in core net income of $0.24 to $0.26 per share," Mercer said.