Earnings - 15th Dec 2008

5:31PM Papa John's reaffirmed 2008 EPS above consensus; co guides FY09 EPS above consensus (PZZA) 16.26 -0.31 : Co reaffirmed its guidance above consensus; co says earnings for 2008 would be near the $1.68 low end of the previously announced range of $1.68-1.76, excluding the impact of BIBP and other items vs $1.57 First Call consensus. Co issues upside guidance; co guides FY09 EPS of $1.62-1.75, excluding BIBP, and excluding $0.30-0.35 per share unfavorable impact of 2009 initiatives not expected to reoccur in 2010, vs $1.61 consensus. Consolidated revenues are expected to be relatively flat in 2009 as compared to 2008 results. Domestic system-wide comparable sales are expected to range from flat to a decrease of 2% in 2009, with results for company-owned and franchised units expected to be relatively consistent. Consolidated revenues are expected to be relatively flat in 2009 as compared to 2008 results. Capital expenditures for 2009 are expected to be ~$30-35 mln, allocated relatively evenly between growth, cost reduction and ongoing maintenance initiatives.

4:18PM Monolithic Power lowers Q4 revs guidance (MPWR) 10.37 +0.16 : Co lowers guidance for Q4 (Dec), sees Q4 (Dec) revs of $34-35 mln, down from prior $39-43 mln vs. $38.46 mln First Call consensus. Co also sees Q4 gross margin in the lower end of the target range of 60% to 63%. "Since the beginning of November, MPS has seen a sharp decline in demand across all segments, reflecting the weak macroeconomic environment worldwide. It is very difficult to forecast in the current conditions, but our best estimate for fourth quarter revenue is between 34 and 35 million dollars, assuming there are no cancellations or pull-ins. Despite the current economic environment, MPS is still a very profitable company."

4:06PM Titan Machinery beats by $0.22, beats on revs; guides FY09 EPS above consensus, revs above consensus (TITN) 14.10 -0.89 : Reports Q3 (Oct) earnings of $0.45 per share, $0.22 better than the First Call consensus of $0.23; revenues rose 62.0% year/year to $214 mln vs the $162.3 mln consensus. Co issues upside guidance for FY09, sees EPS of $1.07-1.11 up from $0.89-0.94 vs. $0.93 consensus; sees FY09 revs of $635-675 mln up from $590-635 mln vs. $631.03 mln consensus.

9:32AM Life Partners Holdings sees Q3 EPS of $0.61 vs $0.55 single analyst est; revs $28.1 mln vs $25.20 mln single analyst est (LPHI) 32.40 +1.13 : Co announces a quarter of record earnings as it issued guidance for its third fiscal quarter ended November 30, 2008. For the quarter, Life Partners expects to report a 38% increase in net earnings which were $7.3 mln or $0.61 per share ($0.55 single analyst est) compared with earnings of $5.2 mln or $0.44 per share for the same period of last year. For the quarter ended November 30, 2008, Life Partners expects to report $28.1 mln in revenues ($25.20 single analyst est), a 46% increase over the $19.3 mln it reported for the same period last year.

9:11AM China Architectural Engineering expects FY08 EPS of $0.34-$0.37 (CAEI) 2.65 : Co announces that it is negatively revising its guidance for its Q4 ending Dec 31, 2008 due to increased cost estimates for certain running projects and an expected $2.5 mln bad debt provision. The company expects earnings for 2008 to be between $18-$20 mln, or $0.34-$0.37 per basic earnings per share for FY08. vs $0.55 single analyst estimate. Bert Grisel, the company's recently announced CFO said, "These prudent accounting measures demonstrates management is committed to following effective internal control procedures, including, but not limited to, regular reviews of our budgeted costs. Our status as a public company requires that we adhere to the highest quality of financial reporting standards and we will continue to focus and review our internal and external control where necessary, to ensure we meet these requirements."

7:37AM Honeywell sees reaffirms 08 guidance; sees FY09 EPS of $3.20-3.55 vs $3.37 First Call consensus; sees revs $33.6-35.3 bln vs $35.92 bln First Call consensus (HON) 28.95 : Co expects 2008 sales of approximately $36.6 bln, earnings per share of $3.76-3.80, and free cash flow of $3.2 bln, excluding cash taxes relating to the sale of the Consumable Solutions business (cash flow from operations of $4.0 bln). In 2009, the co forecasts sales of $33.6-35.3 bln and earnings per share of $3.20-3.55. Cash flow from operations is expected to be $3.9-4.1 bln and free cash flow (cash flow from operations less capital expenditures) is expected to be $3.0-3.2 bln. Co says "Great companies perform well even in tough economic times and we are well positioned to continue to do that again in 2009, "We expect to derive benefits from the repositioning actions taken over the past several years, as well as from our key initiatives including the Honeywell Operating System, Velocity Product Development, and Functional Transformation. In addition, we will continue to be a strong generator of free cash flow in 2009, which will provide us with ongoing financial flexibility."