Earnings - 9th Dec 2008

5:11PM Pall Corp beats by $0.02, reports revs in-line; reaffirms FY09 EPS in-line (PLL) 27.29 -0.74 : Reports Q1 (Oct) earnings of $0.40 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.38; revenues rose 3.0% year/year to $578 mln vs the $578.7 mln consensus. Co reaffirms above consensus guidance for FY09, sees EPS of $2.15-2.30 vs. $2.00 consensus. Co says, "PLL's market diversity and strength across the globe should help mitigate the impact of economic turmoil. We maintain a strong balance sheet, solid liquidity and are well positioned for the long term. Yet we are not immune to recessionary pressure. Our expectation is that revenue growth will not exceed 4% (in LC) for this fiscal year. Our established business improvement initiatives provide strong levers to achieve our goals.

4:13PM SAIC reports EPS in-line, beats on revs (SAI) 18.34 -0.08 : Reports Q3 (Oct) earnings of $0.29 per share, in-line with the First Call consensus of $0.29; revenues rose 11.3% year/year to $2.63 bln vs the $2.6 bln consensus. Co expects to grow revenue internally 6-9% for FY09; grow EPS 11-18% in FY09.

4:04PM G-III Apparel beats by $0.01, beats on revs; lowers FY09 guidance (GIII) 5.65 -0.36 : Reports Q3 (Oct) earnings of $1.68 per share, $0.01 better than the First Call consensus of $1.67; revenues rose 29.6% year/year to $351.6 mln vs the $338.3 mln consensus. Co issues lowers guidance for FY09, to EPS of $0.95-1.05 vs. $1.27 consensus, prior guidance $1.35-1.40; sees FY09 revs of $715 mln vs. $707.15 mln consensus, prior guidance $730 mln. The Company is also now forecasting EBITDA for the fiscal year ending January 31, 2009 to increase approximately 7% to 15% to a range of approximately $40.5 to $43.5 million compared to its prior guidance of EBITDA in the range of $54.0 million to $55.5 million.

4:00PM Electronic Arts announces that it expects net revenue and EPS for FY09 to be below the financial guidance previously provided (ERTS) 19.35 -2.52 : Co announces that it expects FY09 EPS and revs to be below the financial guidance previously provided (note co previously issued guidance that it sees FY09 $1.00-1.40 vs $1.16 First Call consensus; sees revs $5.0-5.3 bln vs $5.06 bln First Call consensus). The revised expectations are primarily the result of lower than expected sales across North America and Europe. The Company does not expect to provide updated financial guidance for fiscal 2009 prior to reporting its third quarter results in early February 2009. The Company is continuing to pursue cost saving initiatives including a reduction of its product portfolio for fiscal year 2010 with additional associated headcount reductions and facility consolidations.

9:08AM Agilent discloses it is lowering its fiscal first quarter 2009 guidance (A) 17.24 : Co lowers guidance for Q1 (Jan), sees EPS of $0.28-0.32, down from $0.34-0.38, vs. $0.35 First Call consensus; sees Q1 (Jan) revs of $1.25-1.30 bln, down from $1.34-1.39 bln, vs. $1.35 bln consensus.

8:53AM Kroger beats by $0.01, reports revs in-line; guides Q4 EPS below consensus (KR) 27.31 : Reports Q3 (Oct) earnings of $0.39 per share, ex-items, $0.01 better than the First Call consensus of $0.38; revenues rose 8.9% year/year to $17.58 bln vs the $17.42 bln consensus. Co issues downside guidance for Q4, sees EPS of $0.49-$0.52 vs. $0.53 consensus. Co reaffirms its identical supermarket sales guidance for FY08 and said it expects FY sales growth of 4.5-5.45%, ex-fuel. "Looking ahead to 2009, we are currently projecting identical supermarket sales growth, excluding fuel, of 3% to 5%. This will enable Kroger to generate earnings per share growth that, combined with Kroger's dividend, will create a favorable return for shareholders even in a difficult economic environment."

8:34AM KMG Chemicals reports Q1 EPS $0.14 vs $0.14 First Call consensus, a 37% increase over Q107; revs $52.2 mln vs $44.59 mln First Call consensus (KMGB) 3.99 : Co also maintains guidance for FY09, says "We are on track to meet our net sales goal of more than $200 million in fiscal 2009," vs consensus $195.72 mln.

7:02AM AutoZone beats by $0.05, reports revs in-line (AZO) 116.50 : Reports Q1 (Nov) earnings of $2.23 per share, $0.05 better than the First Call consensus of $2.18; revenues rose 1.6% year/year to $1.48 bln vs the $1.49 bln consensus.

12:19AM Mitcham Ind misses by $0.16, misses on revs; guides FY09 EPS below consensus, revs below consensus (MIND) 4.56 : Reports Q3 (Oct) earnings of $0.18 per share, excluding tax benefit, $0.16 worse than the First Call consensus of $0.34; revenues fell 15.5% year/year to $14.6 mln vs the $21.9 mln consensus. Co issues downside guidance for FY09, sees EPS of $0.96-1.10 vs. $1.33 consensus; sees FY09 revs of $67.0-70.0 mln vs. $80.83 mln consensus. Co announces Seamap was awarded orders totaling approx $11.0 mln by The Polarcus Group of Companies.