Earnings - March 30th 2009

6:10PM Ingersoll Rand lowers Q1 and FY09 guidance below consensus; $1.0 bln in new financings; reduces quarterly dividend to $0.07 per share (IR) 13.98 -0.97 : Colowers Q1 revs guidance to $2.9 bln $3.15 bln First Call consensus, down from $3.1-3.2 bln; lowers Q1 EPS to be at the low end of its previously forecasted range of $(0.15) to breakeven vs $(0.02) consensus. Co lowers FY09 EPS ~$0.45 below the bottom end of the previous guidance range of $1.85-2.25, which equates to ~$1.40 vs $1.78 consensus; lowers revs to $13.6 bln vs $14.5 bln consensus. Co announced a series of actions designed to strengthen its financial flexibility and enhance its credit profile. The co announced that IR Global Holding Company Limited, a wholly-owned subsidiary, intends to offer, subject to market and other conditions, a benchmark-sized amount of senior notes. In addition it will offer $300 mln in aggregate principal amount of exchangeable senior notes due 2012, exchangeable into cash and shares of the company's Class A common shares, if any. IR intends to grant the underwriters an option to purchase up to an additional $45 mln aggregate principal amount of exchangeable senior notes to cover over-allotments, if any. In addition, the co has arranged an expansion of a 364-day trade receivables financing facility to provide an additional $200 mln of financing over current levels and expects agreement execution by April 1, 2009. Co says, "We expect to meet our debt-reduction targets for 2009 as we continue to focus on generating earnings, aggressively manage working capital, control capital expenditures and reduce dividend payments. We are currently assessing our forecast for the full-year based on updated market expectations and available contingency actions."

5:31PM TBS International beats by $0.43, beats on revs (TBSI) 6.49 -1.09 : Reports Q4 (Dec) earnings of $1.15 per share, $0.43 better than the First Call consensus of $0.72; revenues rose 22.2% year/year to $139.8 mln vs the $89.5 mln consensus. Revenues, earnings and cash flows for the shipping industry are under significant pressure and are expected to suffer during 2009.

8:31AM LoopNet reaffirms Q1 financial guidance; sees EPS of $0.11-0.12 vs $0.09 consensus (LOOP) 6.11 : Co reaffirmed existing guidance for revenue, adjusted EBITDA, and non-GAAP net income, for the quarter ending March 31, 2009. As outlined on February 11, 2009, the co expects rev to be in the range of $19.7 to $20.0 mln vs $19.6 consensus, adjusted EBITDA to be in the range of $7.5 to $7.8 mln, and non-GAAP EPS to be in the range of $0.11 to $0.12 per diluted share vs $0.09 consensus, assuming an effective tax rate of approximately 41% to 42%.

1:35AM Providence Service Corp reports Q4 (Dec) results, beats on revs; guides Q1 EPS above consensus, revs in-line (PRSC) 5.39 : Reports Q4 (Dec) loss of $0.02 per share, includes items and may not be comparable to the First Call consensus of $0.09; revenues rose 80.3% year/year to $178 mln vs the $166.7 mln consensus. Co issues mixed guidance for Q1, sees EPS of at least $0.25, excluding non-recurring items, vs. $0.19 consensus; sees Q1 revs of $170.0-180.0 mln vs. $176.17 mln consensus. CEO comments, "In December, we began to see signs of volume improvements and January and February were extraordinarily strong months for us. Additionally, the cost cutting programs implemented last fall are starting to see real traction so margins are improving as well. Based on continued strength seen in March, we have confidence in our ability to report at least $0.25 in diluted earnings per share in the first quarter, even after an estimated $0.08 in one-time expenses."