6:16PM Spire beats by $0.10, misses on revs (SPIR) 3.11 -0.19 : Reports Q3 (Sept) earnings of $0.05 per share, $0.10 better than the First Call consensus of ($0.05); revenues rose 78% year/year to $17.5 mln vs the $20.1 mln consensus.
5:16PM Atwood Oceanics beats by $0.03, beats on revs (ATW) 19.09 +1.52 : Reports Q4 (Sep) earnings of $1.16 per share, $0.03 better than the First Call consensus of $1.13; revenues rose 32.2% year/year to $160.7 mln vs the $156.7 mln consensus.
5:03PM China Finance Online beats by $0.07, misses on revs; guides Q4 revs below consensus (JRJC) 5.18 +0.15 : Reports Q3 (Sep) earnings of $0.28 per share, excluding non-recurring items, $0.07 better than the First Call dual-analyst est of $0.21; revenues rose 108.2% year/year to $15.2 mln vs the $16.2 mln consensus. Co issues downside guidance for Q4, sees Q4 revs of $14.5-15.0 mln vs. $18.72 mln consensus. Co says, "Under the backdrop of the unprecedented market turmoil and the looming global recession, the company believes it is prudent to take a conservative view on business planning and resource deployment. The company does not forecast a meaningful turnaround of the Chinese stock market and assumes still a challenging business environment in the coming quarters. Given the uncertainty ahead, we suggest our investors and analysts take an equally conservative stand in their forecast for Q4 2008 and 2009."
4:55PM Haynes Intl misses by $0.08 (HAYN) 16.95 +0.42 : Reports Q3 (Sept) earnings of $1.35 per share, $0.08 worse than the First Call consensus of $1.43; revenues were approx flat at $160.8 mln vs the $161.5 mln consensus. Co says, "In the short-term, we expect a significant slow-down and, while we believe the Company can maintain acceptable levels of profitability, our results are likely to be below those seen in recent years. Certainly, we expect accelerating weakness in order entry and pounds shipped over the next several quarters. Even with strong demand, the ability of our customers to obtain credit is likely to be negatively impacted in this environment, which could also negatively impact sales. However, it still appears that long-term demand for our high-performance alloys should be positively driven by favorable long-term trends in the aerospace market, chemical processing facility construction and maintenance markets and the land-based gas turbine market. These favorable long-term trends also reflect the anticipated growth in the emergent economies of Asia."
4:13PM Analog Devices follow-up: Co guides Q1 EPS below consensus, revs below consensus (ADI) 18.22 +1.30 : Co issues downside guidance; co sees Q1 EPS of $0.22-0.23, excluding charges, vs. $0.35 consensus; sees revs declining ~20% sequentially, which equates to ~$528.6 mln vs $600.5 mln consensus. Co says, "We are planning to take steps to avoid a large inventory buildup by significantly reducing manufacturing output, which we expect will temporarily impact our gross margin by ~3 to 4 percentage points. We are therefore planning for gross margin to be ~57% to 58% in the first quarter, depending on the actual product mix and level of sales we achieve." (Briefing.com note: We have added this in the original comment at 16:03).
4:08PM Hewlett-Packard beats by $0.02, reports revs in-line; reaffirms Q1 & FY09 guidance above consensus (HPQ) 35.70 +1.06 : Reports Q4 (Oct) earnings of $1.03 per share, in-line with last week's preannouncement, $0.02 better than the First Call consensus of $1.01; revenues rose 19% year/year to $33.6 bln vs the $33.3 bln consensus. Co reaffirms guidance for Q1, sees EPS of $0.93-0.95 vs. $0.91 consensus; sees Q1 revs of $32.0-32.5 bln vs. $32.75 bln consensus. Co reaffirms guidance for FY09, sees EPS of $3.88-4.03 vs. $3.80 consensus; sees FY09 revs of $127.5-130.0 bln vs. $130.56 bln consensus.
4:06PM Inter Parfums lowers FY08 guidance, issues FY09 guidance below consensus (IPAR) 7.10 +1.45 : Co lowers FY08 guidance to $0.81 vs $0.88 First Call consensus; lowers rev guidance to $445.00 mln vs $464.63 mln First Call consensus. Sees FY09 EPS of $0.85 vs $0.99 First Call consensus; sees revs $405 mln vs $477.52 mln First Call consensus. "Our revised 2008 guidance reflects the recent sustained strength of the U.S. dollar against the euro, particularly over the last six weeks which has affected our growth rate in sales. We previously expected that the strength of our brands and new product launches would enable us to reach our previously issued guidance. However, the very challenging economic environment that has manifested over the last few weeks brings doubt to that expectation."
4:03PM Analog Devices beats by $0.05, reports revs in-line (ADI) 18.51 +1.59 : Reports Q4 (Oct) earnings of $0.49 per share, excluding non-recurring items, $0.05 better than the First Call consensus of $0.44; revenues rose 76.7% year/year to $660.7 mln vs the $655.1 mln consensus. Co issues downside guidance; co sees Q1 EPS of $0.22-0.23, excluding charges, vs. $0.35 consensus; sees revs declining ~20% sequentially, which equates to ~$528.6 mln vs $600.5 mln consensus. Co says, "We are planning to take steps to avoid a large inventory buildup by significantly reducing manufacturing output, which we expect will temporarily impact our gross margin by ~3 to 4 percentage points. We are therefore planning for gross margin to be ~57% to 58% in the first quarter, depending on the actual product mix and level of sales we achieve."
4:01PM Citi Trends beats by $0.05; guides FY09 EPS in-line (CTRN) 8.63 +1.14 : Reports Q3 (Oct) loss of $0.05 per share, $0.05 better than the First Call consensus of ($0.10); revenues rose 5.4% year/year to $104.9 mln vs the $104.9 mln consensus. Co issues in-line guidance for FY09, sees EPS of $0.95-1.05 vs. $0.99 consensus.
8:37AM Campbell Soup beats by $0.01, misses on revs; reaffirms guidance FY09 EPS in-line (CPB) 36.31 : Reports Q1 (Oct) earnings of $0.77 per share, excluding charges associated with previously announced restructuring initiatives and the impact of an unrealized loss on the company's commodity hedging activities, $0.01 better than the First Call consensus of $0.76; revenues rose 3.0% year/year to $2.25 bln vs the $2.32 bln consensus. Co reaffirms in-line guidance for FY09, sees EPS of $2.19-2.24 vs. $2.21 consensus, reaffirms guidance of adjusted EBIT growth slightly below its long-term growth target of between 5% and 6%, reflecting the impact of one less week, higher marketing spending and increased investment spending in Russia and China.
8:32AM Valspar misses by $0.01, beats on revs; guides FY09 EPS below consensus (VAL) 11.30 : Reports Q4 (Oct) earnings of $0.42 per share, excluding non-recurring items, $0.01 worse than the First Call consensus of $0.43; revenues rose 8.3% year/year to $923.2 mln vs the $909.6 mln consensus. Co issues downside guidance for FY09, sees EPS of $1.55-1.65, excluding non-recurring items, vs. $1.75 consensus.
7:48AM Xerox guides in-line for FY09 (XRX) 5.25 : Co issues in-line guidance for FY09 (Dec), sees EPS of $1.00-1.25 vs. $1.16 First Call consensus. Co sees free cash flow per share of $1.60 to $1.85. The company noted that the range reflects the extraordinary volatility from the impact of currency. Co said that given the strength of Xerox's cash flow and its credit facility of $2 billion, the company has no requirement to access the capital markets in the foreseeable future. Co said, "Despite the current economy, the backlog of orders for our products and a 14 percent increase this year in signings for document services along with our disciplined approach to cost management give us confidence in the overall health of our business and our ability to navigate through these challenging times."
6:14AM Ituran Location and Control beats by $0.03, misses on revs (ITRN) 6.20 : Reports Q3 (Sep) earnings of $0.27 per ADS, excludes contribution of Telematics sale and includes F/X gain, $0.03 better than the First Call consensus of $0.24; revenues rose 28.0% year/year to $35.2 mln vs the $36.2 mln consensus.
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