Earnings - 13th Feb 2009

9:06AM Brookfield Asset Mgmt beats by $0.11, beats on revs (BAM) 15.08 : Reports Q4 (Dec) earnings of $0.27 per share, $0.11 better than the First Call consensus of $0.16; revenues fell 4.8% year/year to $3.01 bln vs the $2.37 bln consensus. Co says, "Our renewable power and office property businesses both produced strong operating cash flows during the quarter, which led to the overall improvement in operating cash flows. The stable revenue profiles of these businesses should provide us with a strong earnings base for 2009 and beyond. In addition, we continue to bolster our capitalization and liquidity which, at over $3 bln of core liquidity, remains at historically high levels."

7:09AM PepsiCo reports EPS in-line, revs in-line (PEP) 52.00 : Reports Q4 (Dec) earnings of $0.88 per share, excluding non-recurring items, in-line with the First Call consensus of $0.88; revenues rose 3.1% year/year to $12.73 bln vs the $12.8 bln consensus. with all of the uncertainties in the current macroeconomic environment, the co believes that it is prudent to offer a much wider range in their guidance than it has in the past. PepsiCo is therefore providing full-year 2009 guidance for both net revenue and core EPS of mid- to high-single-digit growth on a constant currency basis (consensus expectations call for rev growth of rougly 2%, EPS growth of 3.8%). The co anticipates foreign exchange, at current spot rates, would adversely impact constant-currency core EPS by approximately 8% points. In 2009, given current market conditions, the co does not anticipate selling shares of its anchor bottlers, The Pepsi Bottling Group or Pepsi Americas. In addition, the co intends, subject to market conditions, to spend up to $2.5 bln repurchasing its shares in 2009.

7:05AM Abercrombie beats by $0.10, reports revs in-line; (ANF) 20.70 : Reports Q4 (Jan) earnings of $1.10 per share, excluding non-recurring items, $0.10 better than the First Call consensus of $1.00; revenues fell 18.8% year/year to $998 mln vs the $997.7 mln consensus. Total co comparable store sales decreased 25%. The co anticipates a difficult selling environment to persist throughout 2009 and believes there may be significant volatility in sales levels. Due to the current economic conditions, and in particular, their impact on sales trends, the co isn't providing EPS guidance for FY09. Co states they are in active discussions with regard to additional store openings in Europe. ANF confirms on-going process of reviewing operating expenses and has already implemented cost reduction actions.  

6:18AM Cognizant Tech beats by $0.03, beats on revs; guides Q1 EPS above consensus; guides FY09 EPS above consensus, revs above consensus (CTSH) 20.76 : Reports Q4 (Dec) earnings of $0.41 per share, excluding non-recurring items, $0.03 better than the First Call consensus of $0.38; revenues rose 25.5% year/year to $753 mln vs the $743.1 mln consensus. Co issues mixed guidance for Q1, sees EPS of $0.41-0.42, excluding non-recurring items, vs. $0.38 consensus; sees Q1 revs of at least $735 mln vs. $745.55 mln consensus. Co issues upside guidance for FY09, sees EPS of at least $1.72, excluding non-recurring items, vs. $1.58 consensus; sees FY09 revs of at least $3.1 bln vs. $3.08 bln consensus. Co says, "Our 2008 results demonstrate that even in the face of significant economic headwinds, clients turn to Cognizant as a trusted advisor to help them improve business performance and tap into new growth opportunities in an evolving economy."

4:51AM Nordic American Tanker reports Q408 EPS, declares dividend of $0.87/share (NAT) 29.62 : Co reports net income for Q408 was $17.2 mln, or $0.50 per share compared to net income of $1.7 mln, or $0.06 per share for Q407 (no estimates available). EPS for Q408 takes into account the effect of loss of income of $0.05 per share related to unplanned technical work. Revenue increased 50.6% year/year to $40.5 mln. Firm notes stronger spot Suezmax tanker market. Operating cash flow was $30.2 mln for Q408, compared to $17.2 ml for 4Q07. Co declares dividend of $0.87 per share (record date February 25, 2009), in line with January 5, 2009 guidance. The average daily rate for co's spot vessels was $40,157 per day net during Q408 compared with $27,322 for Q407. Briefing.com note:  Co paid $1.61 quarterly dividend in Q308.