8:01AM Bronco Drilling misses by $0.03, beats on revs (BRNC) 6.12 : Reports Q1 (Mar) loss of $0.06 per share, $0.03 worse than the First Call consensus of ($0.03); revenues fell 33.4% year/year to $50.6 mln vs the $49.4 mln consensus. Utilization for the first quarter of 2009 was 58% compared to 83% for the previous quarter and 69% for the first quarter of 2008. Average daily cash margins for our land drilling fleet for the quarter ended March 31, 2009, were $7,613 compared to $9,087 for the previous quarter and $7,333 for the first quarter of 2008.
7:46AM El Paso Pipline Partners beats by $0.01, beats on revs (EPB) 18.90 : Reports Q1 (Mar) earnings of $0.40 per share, $0.01 better than the First Call consensus of $0.39; revenues rose 17.8% year/year to $39.7 mln vs the $38.6 mln consensus.
7:32AM Dril-Quip beats by $0.01, misses on revs; guides Q2 EPS in-line (DRQ) 36.93 : Reports Q1 (Mar) earnings of $0.63 per share, $0.01 better than the First Call consensus of $0.62; revenues fell 3.7% year/year to $127.5 mln vs the $137 mln consensus. Co issues in-line guidance for Q2, sees EPS of $0.58-0.68 vs. $0.63 consensus.
7:31AM K12 beats by $0.01, beats on revs; reaffirms FY09 revs guidance (LRN) 18.05 : Reports Q3 (Mar) earnings of $0.12 per share, $0.01 better than the First Call consensus of $0.11; revenues rose 37.9% year/year to $77.2 mln vs the $76.4 mln consensus. Coreaffirms guidance for FY09, sees FY09 revs of $310-320 mln vs. $320.33 mln consensus.
5:54AM LMI Aerospace beats by $0.09, beats on revs (LMIA) 6.68 : Reports Q1 (Mar) earnings of $0.37 per share, excluding non-recurring items, $0.09 better than the First Call consensus of $0.28; revenues rose 5.9% year/year to $64 mln vs the $61.8 mln consensus.
2:00AM Public Storage misses by $0.04, misses on revs (PSA) 62.80 : Reports Q1 (Mar) funds from operations of $1.16 per share, excluding non-recurring items, $0.04 worse thanthe First Call consensus of $1.20; revenues fell 0.8% year/year to $347.2 mln vs the $396.3 mln consensus.
1:50AM Brigham Exploration beats by $0.09, beats on revs (BEXP) 3.25 : Reports Q1 (Mar) earnings of $0.01 per share, excluding non-recurring items, $0.09 better than the First Call consensus of ($0.08); revenues fell 30.0% year/year to $21.3 mln vs the $18.2 mln consensus. Co expects Q209 production volumes to average between 27 MMcfe per day and 31 MMcfe per day. For Q209, lease operating expenses are projected to be $1.46 per Mcfe based on the mid-point of production guidance, production taxes are projected to be approx 6.50% to 7.00% of pre-hedge oil and natural gas revenues, and G&A expenses are projected to be $1.9 mln ($0.78 to $0.68 per Mcfe).
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