Earnings - 23rd Feb 2009

6:52PM VSE Corp reports FY08 EPS of $1.05 vs $0.89; revs grew 49.6% to $296.5 mln (VSEC) 25.20 -0.60 :  

6:08PM Healthsouth beats by $0.11, reports revs in-line; guides FY09 EPS above consensus (HLS) 9.73 -0.10 : Reports Q4 (Dec) earnings of $0.24 per share, excluding non-recurring items, $0.11 better than the First Call consensus of $0.13; revenues rose 6.7% year/year to $463.8 mln vs the $464.6 mln consensus. Co issues upside guidance for FY09, sees EPS of $0.85-0.90, excluding non-recurring items, vs. $0.84 consensus. Adjusted consolidated EBITDA for 2009 is expected to be in the range of $342.0-352.0 mln, compared to $341.8 mln for 2008.

5:24PM Dresser-Rand beats by $0.14, misses on revs (DRC) 18.83 -1.05 : Reports Q4 (Dec) earnings of $0.94 per share, $0.14 better than the First Call consensus of $0.80; revenues rose 43.4% year/year to $745.8 mln vs the $782.9 mln consensus. At December 31, 2008, 77.8% of the backlog of $2,251.5 mln was scheduled to ship in 2009. Co says, "Consistent with previous guidance, the co expects 2009 operating income to be in the range of $320-360 mln, with both segment margins consistent with those achieved in 2008. The co expects its full year 2009 interest expense to be in the range of $28-32 mln and its effective tax rate to be ~35%. The co expects first quarter 2009 operating income to be in the range of 11-13% of the total year... While it is not possible at present to accurately forecast the length of the delays, we currently expect new unit bookings to be in the range of ~$700 mln to $1.1 bln for 2009."

4:24PM Euroseas beats by $0.02, beats on revs (ESEA) 4.30 +0.07 : Co reports Q4 EPS of $0.23, excluding non-reoccurring items, $0.02 better than the $0.21 First Call consensus; revs rose 29.6% to $31.52 mln vs $27.00 mln two analyst est. "The fourth quarter of 2008 was a very challenging one for most shipping companies. Over the past year, we have been preparing for a possible market downturn by maintaining a strong balance sheet with a very low level of debt and plenty of cash. In 2008, we avoided investing in new acquisitions, except for one which was protected through a 3-year time charter."

4:09PM Nordstrom beats by $0.01, reports revs in-line; guides FY10 EPS in-line (JWN)11.33 : Reports Q4 (Jan) earnings of $0.31 per share, $0.01 better than the First Call consensus of $0.30; revenues fell 8.5% year/year to $2.3 bln vs the $2.28 bln consensus. Co issues in-line guidance for FY10, sees EPS of $1.10-1.40 vs. $1.22 consensus. Nordstrom expects same-store sales to decrease 10 to 15% in FY10. Note, co refers to FY10 as 2009.

6:10AM Gulfmark Offshore beats by $0.08, misses on revs (GLF) 20.99 : Reports Q4 (Dec) earnings of $1.72 per share, excluding non-recurring items, $0.08 better than the First Call consensus of $1.64; revenues rose 33.3% year/year to $121.9 mln vs the $125.6 mln consensus.

6:07AM ICON plc beats by $0.01, reports revs in-line (ICLR) 23.21 : Reports Q4 (Dec) earnings of $0.35 per share, $0.01 better than the First Call consensus of $0.34; revenues fell 8.9% year/year to $220 mln vs the $218.4 mln consensus.