Earnings- 4th March 2009

4:50PM Giant Interactive beats by $0.08, beats on revs (GA) 6.57 +0.18 : Reports Q4 (Dec) earnings of $0.18 per share, $0.08 better than the First Call consensus of $0.10; revenues rose 33.2% year/year to $51.7 mln vs the $48.3 mln consensus. Co says based on the current estimates, GA expects to generate total net revenue for Q1 2009 in the range of RMB370-RMB388 mln.

4:36PM American Commercial Lines beats by $0.09, misses on revs (ACLI) 2.58 -0.12 : Reports Q4 (Dec) earnings of $0.47 per share, $0.09 better than the First Call consensus of $0.38; revenues fell 4.2% year/year to $289.9 mln vs the $310.5 mln consensus. Co said,  "We recognize that the economic environment is going to remain difficult, so we remain cautious about our 2009 outlook. As a consequence, we are continuing and accelerating efforts to drive costs out of the business in every area. We have frozen salaries for 2009. Last week we implemented a reduction of approximately 15% of our land-based salaried headcount which is expected to generate annualized savings of $9.1 million, and approximately $3.3 million in 2009 after related severance and other costs, including the estimated cost of approximately $2.5 million of closing the Houston office, primarily a non-cash charge for the write-off of office leasehold improvements. With the amendment of our credit facility, extending the term through March 31, 2011, we believe we have the flexibility and liquidity to operate strategically through today's challenging economic conditions, allowing us to concentrate on achieving our business objectives."

4:21PM Adobe Systems announces prelim Q1 results; sees Q1 EPS of $0.44-0.45 vs $0.42 First Call consensus; revs of $783-786 mln vs $792.02 mln First Call consensus (ADBE) 16.32 +0.34 : The co lowers Q1 guidance, sees Q1 EPS of $0.44-0.45 vs $0.42 First Call consensus; revs of $783-786 mln vs $792.02 mln First Call consensus. Sees Q2 revs $675-725 mln vs $776.27 mln First Call consensus. The co cited weakness in its creative and knowledge worker businesses as the primary reason for the revenue shortfall. Seasonal strength in Japan, as well as continued success with its LiveCycle enterprise business, helped to offset some of the weakness in the quarter. "Despite worsening market conditions, we were able to manage expenses to deliver earnings and margin results within the target ranges we provided at the outset of the quarter," said Shantanu Narayen, president and chief executive officer... Co is targeting a Q2 operating margin range of 21-26% on a GAAP basis, and 32-36% on a non-GAAP basis.

4:09PM Gymboree beats by $0.02, reports revs in-line; guides Q1 EPS below consensus (GYMB) 22.66 -1.37 : Reports Q4 (Jan) earnings of $1.00 per share, $0.02 better than the First Call consensus of $0.98. Co issues downside guidance for Q1, sees EPS of $0.18-0.25 vs. $0.76 consensus. Co expects the current challenging retail selling environment to continue throughout fiscal 2009 making it very difficult to anticipate quarterly sales. In light of this uncertainty, co plans to provide guidance only one quarter at a time during fiscal 2009. For the first quarter of fiscal year 2009, co is planning for negative comparable store sales in the range of 20 to 25% due in large part to the continuing difficult retail selling environment and the temporary impact of the recently enacted regulations on current product assortments.

4:07PM Sigma Designs beats by $0.20, beats on revs (SIGM) 14.21 +0.08 : Reports Q4 (Jan) earnings of $0.38 per share, excluding non-recurring items, $0.20 better than the First Call consensus of $0.18; revenues fell 38.1% year/year to $47.3 mln vs the $43.5 mln consensus. Co says, "The IPTV market is showing resiliency to the current economic turmoil and we are confident that it will continue to demonstrate strength throughout this year. We are also pursuing design activity in the cable industry and helping to drive the transition to Tru2way IP cable solutions which we believe will increase our market opportunities. We are also pushing forward with our consumer products agenda by working with a wide range of vendors for Blu-ray player designs, digital media adapter products and UWB-based devices. Additionally, we are excited about our recent acquisition of the Z-Wave? brand home control products and anticipate a growing synergy within the set-top box market,"

7:32AM Almost Family beats by $0.06, beats on revs (AFAM) 18.10 : Reports Q4 (Dec) earnings of $0.62 per share, $0.06 better than the First Call consensus of $0.56; revenues rose 84.4% year/year to $66.2 mln vs the $59.7 mln consensus. "Our success during the quarter was highlighted by 84% total revenue growth and 47% growth in our VN segment. We have been extremely successful during the year rolling out our Senior Advocacy Mission to all of our existing and a branches."

7:03AM Joy Global beats by $0.07, misses on revs; reaffirms FY09 EPS guidance, revs guidance (JOYG) 15.85 : Reports Q1 (Jan) earnings of $0.83 per share, $0.07 better thanthe First Call consensus of $0.76; revenues rose 18.0% year/year to $755 mln vs the $782.3 mln consensus. Co reaffirms guidance for FY09, sees EPS of $3.60-4.00 vs. $3.51 consensus; sees FY09 revs of $3.5-3.7 bln vs. $3.45 bln consensus. Bookings in the first quarter were $538 million compared to $870 million in last year's first quarter. Although co continues to believe that the path toward industrialization of emerging markets will drive high rates of commodity demand over the long term, it also expects the near-term markets to remain uncertain and volatile. Co continues to take precautionary steps to reduce its risk exposure through expense controls and reduction of operating costs. These efforts include hiring freezes, control of discretionary expense, aggressive management of its supply chain, and more critical reviews of the financial stability of its operating partners, including suppliers, subcontractors and customers. Just as the Company expects the conditions of uncertainty and volatility to persist through 2009, it also expects the booking rates for its original equipment during this period to remain substantially below the comparable booking levels of 2008. The Company believes that lower demand for its original equipment could persist for a period longer than that covered by its current backlog, and is therefore developing plans to ensure it fulfills its commitments to customers and investors during 2009 while reducing the scale and scope of the business to be appropriate for the range of market conditions that could exist in fiscal 2010.

6:08AM Big Lots beats by $0.07, reports revs in-line; guides Q1 EPS above consensus; guides FY10 EPS above consensus (BIG) 14.54 : Reports Q4 (Jan) earnings of $1.00 per share, excluding discontinued operations, $0.07 better than the First Call consensus of $0.93; revenues fell 3.2% year/year to $1.37 bln vs the $1.36 bln consensus. Co issues upside guidance for Q1, sees EPS of 0.34-0.40, excluding non-recurring items, vs. $0.35 consensus. Co issues upside guidance for FY10, sees EPS of $1.75-1.90, excluding non-recurring items, vs. $1.74 consensus. Co estimates Q1 comparable store sales will decrease 1-3% which is consistent with quarter to date trends experienced through March 3, 2009.

3:50AM Costco misses by $0.04, reports revs in-line; reports February comparable store sales decreased 3.0% vs -3.8% consensus (COST) 40.69 : Reports Q2 (Feb) earnings of $0.55 per share, $0.04 worse than the First Call consensus of $0.59; revenues fell 0.7% year/year to $16.84 bln vs the $16.85 bln consensus. Comparable store sales for Q209 declined 3.0%. Excluding the negative impacts from gasoline and F/X, comparable sales for Q2 increased 5.0%. February comparable store sales decreased 3.0% vs -3.8% consensus. Excluding negative impacts from gasoline deflation and F/X, comparable store sales for February increased 5.0%.