4:47PM International Coal reports Q4 (Dec) results, misses on revs; provides '09 and '10 production guidance (ICO) 2.74 +0.06 : Reports Q4 (Dec) loss of $0.24 per share, may not be comparable to the First Call consensus of ($0.06); revenues rose 25.7% year/year to $257.7 mln vs the $292.1 mln consensus. Fourth quarter 2008 financial results include non-cash asset impairment charges of $37.4 million. The pre-tax impairment charges include the previously announced $7.2 million charge for non-recoverable mine development costs related to the Sago mine closure, and a $30.2 million goodwill impairment charge related to the Company's ADDCAR subsidiary. For 2009, the Company expects to sell approximately 20.5 million to 21.3 million tons of coal. The average selling price is projected to be $61.50 to $63.50 per ton. The projected average cost per ton sold is $51.00 to $53.00, excluding selling, general and administrative expenses. The Company expects coal production to be approximately 19.5 million to 20.3 million tons. For 2010, the Company expects to sell 20.0 million to 21.0 million tons of coal. Coal production is expected to total 19.5 million to 20.5 million tons.
4:37PM Las Vegas Sands misses by $0.08, misses on revs (LVS) 3.98 +0.23 : Reports Q4 (Dec) loss of $0.04 per share, excluding non-recurring items, $0.08 worse than the First Call consensus of $0.04; revenues rose 3.8% year/year to $1.09 bln vs the $1.17 bln consensus. Co says, "Our target for cost savings initiatives has been increased to $250 mln on an annual basis and these savings are designed to reduce our structural costs for a leaner environment while preserving the service standards that our guests expect us to deliver... Development work on Marina Bay Sands, in Singapore, and Sands Bethlehem, in Bethlehem, Pennsylvania, continues to progress, with both projects generally tracking to our previously disclosed budgets and opening schedules. In Bethlehem, we are preparing for an opening of Sands Bethlehem in less than four months, in the second quarter of 2009, while in Singapore, we are targeting an opening date for Marina Bay Sands in less than one year. We look forward to bringing these two new properties online, and we expect each to significantly increase our cash flows."
4:10PM Sequenom misses by $0.07, misses on revs (SQNM) 16.90 +0.23 : Reports Q4 (Dec) loss of $0.25 per share, $0.07 worse than the First Call consensus of ($0.18); revenues rose 9.9% year/year to $12.2 mln vs the $13.8 mln consensus. For FY09, co expects the Genetic Analysis revenues to be approximately $49-$53 mln and total operating expenses, excluding Molecular Diagnostics, to be approx $53 mln.
4:09PM ComScore beats by $0.01, misses on revs; guides Q1 EPS above consensus, revs below consensus (SCOR) 12.82 +0.36 : Reports Q4 (Dec) earnings of $0.05 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.04; revenues rose 24.9% year/year to $31.6 mln vs the $32.5 mln consensus. Co issues mixed guidance for Q1, sees EPS of $0.09-0.10 vs. $0.08 consensus; sees Q1 revs of $30.3-30.8 mln vs. $33.38 mln consensus. Co says, "Our focus remains on the long term as we continue to build the leading global digital marketing intelligence platform."
4:08PM Network Appliance reports EPS in-line, misses on revs (NTAP) : Reports Q3 (Jan) earnings of $0.28 per share, in-line with the First Call consensus of $0.28; revenues fell 1.1% year/year to $874.3 mln vs the $912.5 mln consensus. NetApp estimates non-GAAP gross margins for Q4 of fiscal year 2009 to be ~60%; estimates non-GAAP operating expenses for Q4 2009 to increase by about $5-10 mln from Q3; estimates the company will incur approximately $30-35 mln in GAAP severance and other charges associated with a business restructuring in Q4.
4:05PM Buffalo Wild Wings beats by $0.04, beats on revs; guides FY09 (BWLD) 21.91 +0.12 : Reports Q4 (Dec) earnings of $0.43 per share, $0.04 better than the First Call consensus of $0.39; revenues rose 32.6% year/year to $121.2 mln vs the $117.4 mln consensus. Co issues guidance for FY09 says "We believe our 2009 annual goals of 15% unit growth, 25% revenue growth, and 20% to 25% net earnings growth are achievable, this calculates to ~$1.63-1.71 vs. $1.59 consensus; on rev of $474.6 mln vs. $523.05 mln consensus.
4:05PM Zymogenetics beats by $0.34, beats on revs; guides FY09 EPS above consensus (ZGEN) 4.99 +0.06 : Reports Q4 (Dec) loss of $0.13 per share, $0.34 better than the First Call consensus of ($0.47); revenues rose 75.6% year/year to $36 mln vs the $12.4 mln consensus. Co issues upside guidance for FY09, sees EPS of ($1.09)-(0.80) vs. ($1.55) consensus. The co expects to continue the trend of lower net losses in 2009, driven largely by increased net sales of RECOTHROM and higher collaboration and license revenues. Co says, "We expect another year of important progress in 2009, continuing to build the sales of RECOTHROM, advancing PEG-Interferon lambda into Phase 2, working to execute additional partnering transactions, and continuing to optimize the company's cost structure to achieve our long-term financial objectives."
4:02PM Chipotle Mexican Grill beats by $0.03, beats on revs (CMG) 47.34 -0.77 : Reports Q4 (Dec) earnings of $0.52 per share, $0.03 better than the First Call consensus of $0.49; revenues rose 19.5% year/year to $345.3 mln vs the $339.4 mln consensus. For FY09, co sees comparable restaurant sales increases in the low single digits; 120-130 new restaurant openings; An effective tax rate of approximately 38.5%; Diluted weighted average common shares outstanding of approximately 32.5 million.
8:56AM Genzyme beats by $0.02, reports revs in-line; guides FY09 EPS slightly below consensus, revs in-line (GENZ) 71.19 : Reports Q4 (Dec) earnings of $1.04 per share,$0.02 better than the First Call consensus of $1.02; revenues rose 13.2% year/year to $1.17 bln vs the $1.18 bln consensus. Co issues in-line guidance for FY09, sees EPS of $4.70 vs. $4.74 consensus; sees FY09 revs of 5.2-5.4 vs. $5.25 bln consensus. For FY09 Total revenue for the Genetic Disease segment is expected to reach $2.47 - $2.53 bln this year, compared with $2.23 bln in 2008. Myozyme revenue is expected to increase to $430 - $440 mln, compared with $296 mln in 2008. Th Revenue for Fabrazyme, an important growth driver that is performing well in a competitive marketplace, is expected to rise to $560 - $570 mln in 2009 from $494 mln last year. Cerezyme revenue is expected to reach $1.25 - $1.28 bln, compared with $1.24 bln in 2008, reflecting its mature status and the impact of foreign exchange.
7:33AM Reynolds American beats by $0.11, misses on revs (RAI) 38.86 : Reports Q4 (Dec) earnings of $1.27 per share, excluding non-recurring items, $0.11 better than the First Call consensus of $1.16; revenues fell 2.4% year/year to $2.18 bln vs the $2.2 bln consensus. The Q4 EPS excludes non-cash trademark impairment charges of $145 mln and an investment impairment of $33 mln.
7:12AM Agrium beats by $0.15, beats on revs (AGU) 36.95 : Reports Q4 (Dec) earnings of $0.79 per share, $0.15 better than the First Call consensus of $0.64; revenues rose 33.0% year/year to $1.99 bln vs the $1.96 bln consensus. Co said, "Our fourth quarter margins were excellent again this quarter, even with the challenges of reduced sales volumes and write-downs in inventories due to the unprecedented changes in phosphate and nitrogen prices over the past four months. We ended 2008 with earnings that were three times our previous record, and our strong balance sheet and positive earnings outlook places us in an excellent financial position for the future. Much of this success is a result of our disciplined growth strategy of diversifying across the entire agricultural value chain... Despite the economic turmoil and uncertainty the world has been facing, we believe that 2009 will prove to be a year where Agrium can again deliver strong annual results. We believe the reduced crop nutrient use experienced over the past four months is not sustainable and that it will ultimately impact grain production and support crop prices and crop input demand. Recent growth initiatives have positioned our Wholesale, Retail, and Advanced Technologies businesses to continue to benefit from what we believe will be robust demand for crop inputs in the coming year."
7:09AM Dean Foods beats by $0.07, misses on revs; guides Q1 and FY09 EPS slightly above consensus (DF) 18.31 : Reports Q4 (Dec) earnings of $0.46 per share, $0.07 better than the First Call consensus of $0.39; revenues fell 4.7% year/year to $3.08 bln vs the $3.22 bln consensus. Co issues upside guidance for Q1, sees EPS of at least $0.38 vs. $0.36 consensus. Co issues upside guidance for FY09, sees EPS of at least $1.50 vs. $1.49 consensus.
2:03AM Arcelor Mittal misses by $0.10, beats on revs; lowers annual dividend to $0.75 from $1.28 (MT) 24.80 : Reports Q4 (Dec) earnings of $0.34 per share, excluding exceptional charges and tax benefit, $0.10 worse than the First Call consensus of $0.44; revenues fell 21.1% year/year to $22.09 bln vs the $19.73 bln consensus. Total steel shipments for the three months ended December 31, 2008 were 17.1 mln metric tonnes as compared with steel shipments of 25.6 mln metric tonnes for the three months ended September 30, 2008 and 28.0 mln metric tonnes for the three months ended December 31, 2007. The decrease resulted from a collapse in demand. Total steel shipments in the Flat Carbon Americas segment were nearly halved at 3.9 mln metric tonnes for the three months ended December 31, 2008, as compared with steel shipments of 6.9 mln metric tonnes for the three months ended September 30, 2008, in line with the sharp deterioration of global steel markets in Q4. Sales also declined to $4.5 bln for the three months ended December 31, 2008 as compared with sales of $8.5 bln for the three months ended September 30, 2008, due to both lower volumes and prices (an 8.7% decrease in average steel selling price). The segment recorded an operating loss of $0.4 bln for the three months ended December 31, 2008 representing a decline from operating income of $0.6 bln for the three months ended September 30, 2008. The operating loss included exceptional charges of $0.5 bln related to write-downs of inventory and raw material supply contracts. Co reduces annual dividend to $0.75/share from $1.28.
12:12AM DaVita beats by $0.04, reports revs in-line (DVA) 47.43 : Reports Q4 (Dec) earnings of $0.94 per share, $0.04 better than the First Call consensus of $0.90; revenues rose 7.8% year/year to $1.46 bln vs the $1.47 bln consensus. Operating income guidance for 2009 remains unchanged at a range of $820-$880 mln.
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