Earnings - 3rd Nov 2008

5:24PM Anadarko Petro beats by $0.14 (APC) 33.13 -2.17 : Reports Q3 (Sep) earnings of $1.62 per share, excluding non-recurring items, $0.14 better than the First Call consensus of $1.48; revenues rose 105.3% year/year to $6.15 bln. The net income results excludes certain items affecting comparability that are typically excluded by the investment community in published estimates. In total, these items increased net income by approximately $1.399 billion, or $3.00 per share (diluted), on an after-tax basis.

5:03PM Sun Hydraulics misses by $0.01, misses on revs; guides Q4 EPS below consensus, revs below consensus (SNHY) 20.13 -0.81 : Reports Q3 (Sep) earnings of $0.40 per share, $0.01 worse than the First Call consensus of $0.41; revenues rose 7.2% year/year to $44.8 mln vs the $46.9 mln consensus. Co issues downside guidance for Q4, sees EPS of $0.20-0.22 vs. $0.39 consensus; sees Q4 revs of ~$34 mln vs. $45.73 mln consensus.

4:46PM MasterCard beats by $0.22, beats on revs (MA) 143.89 -3.93 : Reports Q3 (Sep) earnings of $2.47 per share, excluding non-recurring items, $0.22 better than the First Call consensus of $2.25; revenues rose 23.7% year/year to $1.34 bln vs the $1.27 bln consensus. Gross dollar volume up 12.3%; purchase volume up 13.3%. Currency fluctuations (driven by movement of the euro and the Brazilian real relative to the U.S. dollar) contributed 3.5 percentage points of the increase in net revenue for the quarter. "As we are not immune from the long-term effects of the current economic environment, we have significantly accelerated the focus on our cost structure, while making sure we remain prudent in allocating resources to those investments that will enable us to drive growth worldwide, today and in the future. Our focus on our customers has never been more important as we work side by side with financial institutions to help them continue to develop the value of their payments businesses. Our account teams and MasterCard Advisors are helping our customers address risk management, reduce write-offs, improve segmentation efforts, and deliver more relevant messages to cardholders."

4:31PM Herbalife beats by $0.03, misses on revs; guides Q4 EPS below consensus, revs below consensus; guides FY08 EPS below consensus, revs below consensus; guides FY09 EPS below consensus (HLF) 25.45 +1.02 : Reports Q3 (Sep) earnings of $0.89 per share, $0.03 better than the First Call consensus of $0.86. Co issues downside guidance for Q4, sees EPS of $0.65-70 vs. $0.91 consensus; sees Q4 net sales decline of six percent to eight percent which equates to revs of $531-543 vs. $629.30 mln consensus. Co issues downside guidance for FY08, sees EPS of $3.50-3.55 vs. $3.71 consensus; sees FY08 revenue growth of 10 percent to 11 which equates to revs of $2360-2381 vs. $2.49 bln consensus. Co issues downside guidance for FY09, sees EPS of $3.00-3.20 vs. $4.21 consensus and net sales flat to up one percent compared to 2008.

4:24PM EOG Resources beats by $0.10, beats on revs (EOG) 75.78 -5.14 : Reports Q3 (Sep) earnings of $2.34 per share, excluding non-recurring items, $0.10 better than the First Call consensus of $2.24; revenues rose 226.5% year/year to $3.22 bln vs the prior year's $986.2 mln. "We believe that cold winter weather -- or lack of it -- will be the determining factor of North American natural gas prices in 2009. If Henry Hub prices average above $8.00, we will target 14 percent total company production growth. However, if prices average $7.00, we expect to reduce our North American natural gas drilling activity and achieve an overall 10 percent production increase. In either case, our focus is on the balance sheet and our commitment to low debt ratios. We anticipate that total company crude oil and condensate production will increase 43 percent in 2009 over 2008 driven primarily by the North Dakota Bakken with a lesser contribution from our Barnett oil and other plays," said Papa.

4:15PM Open Text beats by $0.03, beats on revs (OTEX) 26.30 +0.35 : Reports Q1 (Sep) earnings of $0.53 per share, $0.03 better than the First Call consensus of $0.50; revenues rose 11.4% year/year to $182.6 mln vs the $179.4 mln consensus. John Shackleton, Chief Executive Officer says, "The business remains on-track, however, given the uncertainty in the global markets we feel it is important to act prudently and focus even more on our profit margins, so that we maintain our current earnings target for the year." The combined co expects to reduce worldwide employment by approximately 10%. Functions impacted by the cuts include redundant positions or areas of the business that are not consistent with the company's strategic focus. These activities will be reflected in a restructuring charge of ~ $20 mln. The co also announced its intention to make a Normal Course Issuer Bid through the facilities of the NASDAQ Global Select Market. Pursuant to the Bid, OTEX proposes to repurchase, from time to time, until November 6, 2009, if considered advisable, up to an aggregate of 2,593,263 common shares.

4:15PM Comstock beats by $0.20, beats on revs (CRK) 45.16 -4.26 : Reports Q3 (Sep) earnings of $1.20 per share, excluding the gain from the sale of the Company's interest in Bois d'Arc and the net income attributable to the Company's ownership in Bois d'Arc, $0.20 better than the First Call consensus of $1.00; revenues rose 103.7% year/year to $169.2 mln vs the $158 mln consensus... Comstock also announced that its bank group led by Bank of Montreal has reaffirmed the Company's $590.0 million borrowing base as of October 29, 2008. Comstock currently has no borrowings outstanding under its $850.0 million revolving bank credit facility which matures on December 15, 2011.

4:09PM Rackable Systems beats by $0.02, misses on revs; reaffirms FY08 EPS guidance, revs guidance (RACK) 7.22 +0.08 : Reports Q3 (Sep) loss of $0.05 per share, excluding non-recurring items, $0.02 better than the First Call consensus of ($0.07); revenues fell 25.1% year/year to $65.3 mln vs the $70.5 mln consensus. Co reaffirms guidance for FY08, sees EPS of ($0.16)-($0.08) vs. ($0.15) consensus; sees FY08 revs of $275-300 mln vs. $281.47 mln consensus.

4:08PM Sykes Enterprises beats by $0.19, reports revs in-line; guides Q4 EPS in-line, revs below consensus (SYKE) 16.49 +0.53 : Reports Q3 (Sep) earnings of $0.47 per share, $0.19 better than the First Call consensus of $0.28; revenues rose 17.6% year/year to $207.1 mln vs the $206.1 mln consensus. Co issues mixed guidance for Q4, sees EPS of $0.30-0.32 vs. $0.32 consensus; sees Q4 revs of $195-200 mln vs. $211.55 mln consensus.

4:02PM Innophos Holdings beats by $0.27, reports revs in-line (IPHS) 24.95 -1.80 : Reports Q3 (Sep) earnings of $3.64 per share, $0.27 better than the First Call consensus of $3.37; revenues rose 99.3% year/year to $291.8 mln vs the $294 mln consensus. IPHS expects its price increases, net of anticipated GTSP price decreases, will result in a revenue increase of 95% to 105% of 2007 annual sales, or approximately $550-$605 mln, on an annualized basis by year-end 2008.

8:02AM Simon Properties beats by $0.04, beats on revs; guides FY08 FFO in-line (SPG) 67.03 : Reports Q3 (Sep) funds from operations of $1.61 per share, $0.04 better than the First Call consensus of $1.57; revenues rose 3.1% year/year to $935.6 mln vs the $923.7 mln consensus. Co issues in-line guidance for FY08, sees FFO of $6.40-6.45 vs. $6.40 consensus.

7:07AM Multi-Fineline beats by $0.31, beats on revs; guides Q1 net sales down sequentially, in-line with yr ago (MFLX) 11.68 : Reports Q4 (Sep) earnings of $0.68 per share, excluding 3 non-recurring items totaling $0.38 in charges, $0.31 better than the First Call consensus of $0.37; revenues rose 27.8% year/year to $213.1 mln vs the $193.7 mln consensus. Based on current estimates, expect fiscal 2009 first quarter net sales to be at least as high as the net sales level we achieved in the first quarter of fiscal 2008, yet decline on a sequential quarter basis (Briefing.com note: Q1 2008 net sales for MFLX were $184.15 mln current Q1 FY09 consensus is $206.18 mln). Co also currently expect that first quarter gross margin percentage will fall within our targeted 10 to 15% range, based on projected product mix and leveraging of manufacturing costs.

7:03AM Oshkosh Truck beats by $0.05, beats on revs; guides FY09 EPS below consensus, revs in-line (OSK) 7.66 : Reports Q4 (Sep) earnings of $0.72 per share, $0.05 better than the First Call consensus of $0.67; revenues rose 5.8% year/year to $1.9 bln vs the $1.82 bln consensus. Co issues mixed guidance for FY09, sees EPS of $1.65-2.05 vs. $2.37 consensus; sees FY09 revs of $6.3-6.7 bln vs. $6.62 bln consensus. Co expects continued weakness in economies worldwide to significantly affect sales in FY09, particularly in the access equipment and commercial segments, driving consolidated sales down from $7.1 bln in FY08. Co expects that the decreases in these two segments will be partially offset by an increase in defense segment sales due to U.S. government requirements for new heavy-payload tactical vehicles. OSK expects consolidated operating income margins to be between 5.0-6.0% as a result of lower sales expectations and increases in the costs of raw materials in the access equipment segment, offset in part by the expected return to profitability of the Company's commercial segment.

5:47AM ReneSola raises Q308 revenue guidance (SOL) 6.28 : Co issues upside guidance for Q3 (Sep), sees Q3 (Sep) revs of $210-220 mln vs. $179.83 mln First Call consensus. Co estimates production output of between 100 MW to 103 mW. This compares to previously issued production output guidance for the quarter in the range of 90 MW to 95 MW.

2:47AM Alvarion beats by $0.01, misses on revs; guides Q4 EPS in-line, revs below consensus (ALVR) 3.47 : Reports Q3 (Sep) earnings of $0.05 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.04; revenues rose 22.6% year/year to $74.3 mln vs the $75.1 mln consensus. Co issues mixed guidance for Q4, sees EPS of $0.00-0.07, excluding non-recurring items, vs. $0.07 consensus; sees Q4 revs of $70.0-78.0 mln vs. $80.60 mln consensus.