Earnings - 12th March 2009

4:09PM Smith & Wesson beats by $0.03, beats on revs (SWHC) 4.59 +0.61 : Reports Q3 (Jan) earnings of $0.05 per share, $0.03 better than the First Call consensus of $0.02; revenues rose 25.9% year/year to $83.7 mln vs the $74.1 mln consensus. Co says "While our hunting business continues to suffer in the current economic environment, the market for hunting rifles in a healthy economy is a sizeable one. In addition, this portion of our business produces barrels for our tactical rifles, products that are clearly in very high demand right now. Finally, the barrel manufacturing expertise we possess via our hunting business defines us as a firearms manufacturer with a full portfolio of products and capabilities, an important distinction when seeking business from the federal government and military markets. For these reasons, we continued to selectively invest in our hunting business while focusing on reducing its cost structure. During the third quarter, we implemented a reduction in force and a work furlough at our Rochester, New Hampshire factory. At the same time, we launched the T/C Venture bolt-action hunting rifle at this year's SHOT Show..."

4:02PM Aeropostale beats by $0.01, beats on revs; guides Q1 EPS in-line with consensus (ARO) 25.13 +0.76 : Reports Q4 (Jan) earnings of $1.01 per share, $0.01 better than the First Call consensus of $1.00; revenues rose 16.7% year/year to $690 mln vs the $681.7 mln consensus. Co issues guidance for Q1, sees EPS of $0.25-0.27, ex items vs. $0.25 consensus. The Company ended fiscal 2008 with cash and cash equivalents of $228.5 million, compared to $111.9 million last year. The Company currently has no debt outstanding. As of January 31, 2009, the Company had $150.0 million available under its revolving credit facility.

8:03AM ReneSola reports wider than expected loss, revs in-line; guides FY08 revs in-line (SOL) 2.27 : Reports Q4 (Dec) loss of $1.84 per ADS, $0.41 worse than the First Call consensus of ($1.43); revenues rose 65.2% year/year to $158.6 mln vs the $157.7 mln consensus. Co issues in-line guidance for FY08, sees FY08 revs of $650-700 mln vs. $666.50 mln consensus.  Co expects 2009 full year wafer shipment of between 620 MW to 670 MW. The co has pre-sold output of approximately 550 MW of wafers out of the 620 MW to 670 MW projected output for 2009. The co expects to achieve wafer manufacturing capacity of 825 MW by July 2009 with the implementation of additional production capacity expansion to be determined by market demand. "Looking ahead to 2009 and beyond, we believe that although the solar industry is experiencing short term demand weakness, the declining ASPs and other production costs along the solar value chain are improving end-user affordability and should ultimately increase demand for solar generated electricity. We remain confident that we can continue to reduce production costs while improving operational efficiency to stay ahead of the competition."

7:22AM Global Sources beats by $0.01, beats on revs (GSOL) 3.57 : Reports Q4 (Dec) earnings of $0.14 per share, $0.01 better than the First Call consensus of $0.13; revenues rose 6.9% year/year to $65 mln vs the $63.3 mln consensus. Co says, "The dramatic slowdown in global consumer demand has led to declining revenue and profitability. The business climate remains uncertain; as such, we have suspended guidance. Nonetheless, we continue to be committed to profitability. We have a solid operating model, which is supported by a very strong balance sheet, comprised of a liquid and unencumbered cash position, and no debt. Furthermore, our collections remain very healthy, with only 12 days sales outstanding."

7:04AM Smithfield Foods beats by $0.12, misses on revs (SFD) 5.95 : Reports Q3 (Jan) loss of $0.15 per share, $0.12 better than the First Call consensus of ($0.27); revenues rose 7.3% year/year to $3.35 bln vs the $3.41 bln consensus. Co says, "Looking forward, I fully expect the fourth quarter to be another difficult quarter with continued substantial losses in hog production. However, I am reasonably optimistic about fiscal 2010 in spite of the current recession. Our raising costs should decline significantly and the impact of reduced protein supplies of all types should bode well for hog prices and meat prices. Our packaged meats business is improving very nicely and I expect this to continue... All of this is encouraging and leads one to believe that fiscal 2010 should be a much better year for the co."