6:02PM KongZhong beats by $0.03, beats on revs; guides Q3 revs above consensus (KONG) 13.16 +0.24 : Reports Q2 (Jun) earnings of $0.09 per share, $0.03 better than the First Call consensus of $0.06; revenues rose 37.4% year/year to $32.3 mln vs the $31.4 mln consensus. Co issues upside guidance for Q3, sees Q3 revs of $34-35 mln vs. $32.09 mln consensus.
5:10PM Mindray Medical beats by $0.02, beats on revs; guides FY09 revs below consensus (MR) 29.87 +0.16 : Reports Q2 (Jun) GAAP earnings of $0.29 per share, including amortization and termination payments, $0.02 better than the First Call consensus of $0.27; revenues rose 9.9% year/year to $160.1 mln vs the $151.9 mln consensus. Co issues guidance for FY09, sees FY09 EPS growth of 10% YoY; sees FY09 revs growth at least 10%, which equates to revs of at least $602.3 mln vs. $617.63 mln consensus
4:12PM Providence Service Corp beats by $0.01, beats on revs (PRSC) 11.59 +0.67 : Reports Q2 (Jun) earnings of $0.40 per share, $0.01 better than the First Call consensus of $0.39; revenues rose 10.9% year/year to $191.8 mln vs the $186.9 mln consensus. While visibility in 2009 continues to improve, pending the completion of state budgets, the Company will refrain from providing additional guidance for 2009.
4:11PM McDermott beats by $0.03, misses on revs (MDR) 21.32 -0.20 : Reports Q2 (Jun) earnings of $0.40 per share, $0.03 better than the First Call consensus of $0.37; revenues fell 12.7% year/year to $1.56 bln vs the $1.59 bln consensus. At June 30, 2009, the co's consolidated backlog was $9.5 bln.
4:07PM Fluor beats by $0.02, misses on revs; guides FY09 EPS in-line (FLR) 57.49 -0.72 : Reports Q2 (Jun) earnings of $0.93 per share, $0.02 better than the First Call consensus of $0.91; revenues fell 8.3% year/year to $5.29 bln vs the $5.81 bln consensus. New project awards for the second quarter were substantial at $6.8 billion, compared with $6.4 billion in new awards a year ago. Current quarter awards included a large mining project and a $1.3 billion oil sands project. Consolidated backlog rose to $30.9 billion, up from $29.1 billion last quarter, but down 6 percent from a year ago primarily due to cancellations and scope reductions of Oil & Gas projects during the first quarter. Co issues in-line guidancefor FY09, sees EPS of $3.80-4.10 vs. $3.81 consensus.
4:05PM Qiagen beats by $0.03, beats on revs; guides FY09 EPS above consensus, revs in-line (QGEN) 18.98 +0.05 : Reports Q2 (Jun) earnings of $0.24 per share, excluding non-recurring items, $0.03 better than the First Call consensus of $0.21; revenues rose 10.2% year/year to $240.2 mln vs the $232 mln consensus. Co issues guidance for FY09, sees EPS of $0.90-0.94, excluding non-recurring items, vs. $0.88 consensus, prior guidance $0.88-0.94; sees FY09 revs of $920-970 mln vs. $959.04 mln consensus.
8:08AM Priceline.com beats by $0.27, beats on revs; guides Q3 EPS and revs above consensus (PCLN) 131.31 : Reports Q2 (Jun) earnings of $2.02 per share, $0.27 better than the First Call consensus of $1.75; revenues rose 17.5% year/year to $603.7 mln vs the $575.1 mln consensus. Co issues upside guidance for Q3, sees EPS of $2.70-2.85 vs. $2.52 consensus; sees Q3 revs up 19-23% YoY, or roughly $669-691 mln vs. $613.49 mln consensus. Year-over-year increase in total gross travel bookings of ~20% - 26%; Year-over-year increase in international gross travel bookings of ~21% - 29% (an increase of approximately 30% - 39% on a local currency basis); Year-over-year increase in domestic gross travel bookings of approximately 20%. "Priceline.com's 2nd quarter performance reflects the impact of improving demand, but also shows the impact of lower year over year unit prices. Priceline.com continued to gain market share globally in the 2nd quarter as worldwide hotel room night reservations grew 44%, reflecting solid performance in the U.S., Europe and Asia. Airline ticket sales grew 14% despite fee reductions introduced by our competitors during this period to compete with our low price positioning, and growth in rental car days was steady at 15%. Internationally, our hotel business experienced gross travel bookings growth of 14%, or approximately 32% on a local currency basis."
7:31AM Hormel Foods raises FY09 guidance, sees EPS of $2.36-2.42 vs $2.29 First Call consensus (HRL) 36.12 : Co raises FY09 EPS guidance to $2.36-2.42 from $2.15-2.25, vs $2.29 First Call consensus. "A strong performance from our Refrigerated Foods segment, an improved performance by our Jennie-O Turkey Store segment and continued solid results from our Grocery Products segment, allowed us to deliver a stronger than expected third quarter. We also benefited from better investment performance in our rabbi trust."
6:40AM Carrizo Oil & Gas beats by $0.12, beats on revs (CRZO) 20.52 : Reports Q2 (Jun) earnings of $0.41 per share, excluding non-recurring items, $0.12 better than the First Call consensus of $0.29; adjusted revs fell 12.9% year/year to $48.8 mln vs the $43.8 mln consensus. Production volumes during the three months ended June 30, 2009 were 7.89 Bcfe, 29 percent higher compared to 6.10 Bcfe during the second quarter of 2008. The increase was largely due to new production contributions from Barnett Shale development. Carrizo's average oil sales price decreased 50 percent to $56.95 per barrel compared to $113.90 per barrel for the second quarter of 2008 and the average natural gas sales price decreased 30 percent to $6.08 per Mcf compared to $8.68 per Mcf for the second quarter of 2008. The above prices include the impact of cash-settled hedges.
6:37AM Zhongpin beats by $0.03, misses on revs; reaffirms FY09 EPS guidance, revs guidance (HOGS) 12.21 : Reports Q2 (Jun) earnings of $0.36 per share, $0.03 better thanthe First Call consensus of $0.33; revenues rose 17.7% year/year to $161.8 mln vs the $170.7 mln consensus. Co reaffirms guidance for FY09, sees EPS of $1.50-1.63 vs. $1.54 consensus; sees FY09 revs of $780-810 mln vs. $769.16 mln consensus. Co said, "As a result of the education consumers have received about the recent A(H1N1) virus, they increasingly are focusing on food safety, which highlights the importance of high-quality products and stringent testing procedures. Highest quality and stringent testing are the foundation of Zhongpin's modernized, safe, and hygienic processing facilities. With China's live hog prices and pork prices beginning to recover during the latter part of the second quarter, we expect that the upward trend is likely to continue in the cooler second half of 2009, when pork consumption typically increases. Further supporting that outlook is China's economy, which is expected to grow at higher rates than in the first half of 2009."
6:32AM Cypress Biosci beats by $0.02, beats on revs (CYPB) 9.06 : Reports Q2 (Jun) loss of $0.23 per share, $0.02 better than the First Call consensus of ($0.25); revenues rose 480.0% year/year to $5.8 mln vs the $2.3 mln consensus.
6:32AM China Fire & Sec Grp beats by $0.06, beats on revs; guides FY09 EPS above consensus, reaffirms FY09 revs guidance (CFSG) 16.53 : Reports Q2 (Jun) earnings of $0.29 per share, $0.06 better than the First Call consensus of $0.23; revenues rose 35.9% year/year to $22.7 mln vs the $22.3 mln consensus. Co issues raises EPS guidance for FY09, sees EPS of $1.00-1.05 vs. $0.98 consensus, prior guidance $0.93-1.00; sees FY09 revs of $88-95 mln vs. $91.92 mln consensus.
6:09AM GTX beats by $0.05, beats on revs (GTXI) 9.42 : Reports Q2 (Jun) loss of $0.31 per share, $0.05 better than the First Call consensus of ($0.36); revenues rose 26.9% year/year to $3.8 mln vs the $3.4 mln consensus.
6:06AM Chindex beats by $0.18, beats on revs (CHDX) 13.15 : Reports Q1 (Jun) earnings of $0.25 per share, excluding the impact of the change in fair value of outstanding warrants,$0.18 better than the First Call consensus of $0.07; revenues rose 41.3% year/year to $45.3 mln vs the $43.1 mln consensus. Revenue from the Medical Products division increased 86% to $23.3 mln from $12.5 mln in the prior year period, and revenue from the Healthcare Services division increased 13% to $22.0 mln from $19.6 mln in the first quarter of fiscal year 2009. Revenue performance reflects increased medical products sales, including revenue from the sale of two daVinci units, and year over year growth in inpatient and outpatient revenue in the Healthcare Services division.
5:06AM General Steel reports EPS in-line, beats on revs (GSI) 5.74 : Reports Q2 (Jun) earnings of $0.04 per share, excluding non-recurring items, in-line with the First Call consensus of $0.04; revenues rose 5.7% year/year to $409 mln vs the $371.6 mln consensus. Gross margin was 5.5%, compared to 4.0% in the previous quarter and 5.9% in the second quarter of 2008. The increase in total revenues was predominantly due to increased shipment volume at the co's Longmen JV, which in the first half of 2009 increased 51.3% year-over-year, and Baotou Steel Pipe JV, which in the first half of 2009 increased 41.7% year-over-year. The co noted that these increases in shipment volume helped to offset lower selling prices and declines at its Daqiuzhuang Metal subsidiary. The increase in total revenues was also attributable to the co's Maoming acquisition, which took place on June 25, 2008.
4:14AM Perfect World beats by $0.08, beats on revs (PWRD) 37.33 : Reports Q2 (Jun) earnings of $0.72 per share, excluding non-recurring items, $0.08 better than the First Call consensus of $0.64; revenues rose 56.5% year/year to $76.3 mln vs the $73.2 mln consensus. Co issues upside guidance for 3Q09; sees revenue of RMB547.0-563.0 mln vs RMB520.26 mln. This reflects expected growth of the newly launched "Battle of the Immortals" and other existing games.
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