4:40PM SciClone Pharma beats by $0.14, beats on revs; guides FY09 EPS above consensus, revs above consensus (SCLN) 3.41 -0.24 : Reports Q0 earnings of $0.16 per share, $0.14 better than the First Call consensus of $0.02; revenues rose 59.4% year/year to $22 mln vs the $16.5 mln consensus. Co issues upside guidance for FY09, sees EPS of $0.10-0.14 vs. $0.06 consensus; sees FY09 revs of $69-71 mln vs. $65.87 mln consensus. Although revenues were higher than expected in the second quarter of 2009, largely due to higher demand in China for ZADAXIN related to H1N1 flu virus concerns, for the rest of the year the Company expects its quarterly sales growth to return to levels more consistent with its established business. SciClone expects increased R&D expenses in the second half of 2009 associated with H1N1 animal and, potentially, human studies; timing of other clinical development expenses; and costs of in-licensing products for China.
4:38PM Pioneer Natural Resources beats by $0.11, misses on revs (PXD) 30.53 +0.36 : Reports Q2 (Jun) loss of $0.10 per share, excluding items, $0.11 better than the First Call consensus of ($0.21); revenues fell 41.6% year/year to $370.7 mln vs the $375.8 mln consensus. Third quarter production is forecasted to average 110,000 BOEPD to 115,000 BOEPD. Third quarter production costs are expected to average $10.00 to $11.00 per BOE based on current NYMEX strip prices for oil and gas. DD&A expense is expected to average $15.50 to $16.50 per BOE, also based on current strip prices. Total exploration and abandonment expense during the third quarter is expected to be $15-$25 mln, primarily related to exploration wells, including related acreage costs, and seismic and personnel costs. The Company also expects to recognize $10 mln to $15 mln of charges in other expense associated with certain drilling rigs stacked as a result of the low price environment.
4:37PM Pegasystems beats by $0.19, beats on revs; raises 2009 net income and cash flow guidance (PEGA) 29.29 +0.14 : Reports Q2 (Jun) earnings of $0.30 per share, $0.19 better than the First Call consensus of $0.11; revenues rose 25.0% year/year to $63.9 mln vs the $59.2 mln consensus. Craig Dynes, Pegasystems' CFO, added, "Given the state of the economy, we have been cautious with our spending during the first half of the year. These outstanding financial results, along with a strong pipeline, provide us the opportunity to accelerate our investment in sales, marketing and R&D; investments which we expect will drive further growth in 2010. Accordingly, we expect net income for 2009 to surpass $25 million and 2009 cash flow from operations to be approximately $35 million."
4:36PM Dollar Thrifty beats by $0.53, misses on revs (DTG) 17.53 +0.28 : Reports Q2 (Jun) earnings of $0.30 per share, excluding non-recurring items, $0.53 better than the First Call consensus of ($0.23); revenues fell 10.3% year/year to $399.6 mln vs the $416 mln consensus. The co expects the overall environment in the rental car industry to remain challenging in the second half of 2009, as economic conditions negatively impact consumer confidence and travel demand. Based on the co's expected fleet size and projected industry-wide rental day demand, the Company narrowed its prior revenue guidance. The Company now expects rental revenues to decline 8-10% for FY09 compared to '08. Falling rental days are expected to be somewhat mitigated by an increase in rate per day. For the remainder of 2009, mgmt expects the used vehicle market to show year-over-year improvement. "As we have previously stated, our focus for 2009 is on maximizing revenue per day, reducing expenses, de-leveraging our balance sheet and diversifying our fleet investment, all in order to properly position the Company for an expected economic recovery in 2010. This quarter represents another step forward towards our recovery and demonstrates the earnings potential of our new strategy."
4:33PM Bio-Rad Labs beats by $0.31, reports revs in-line (BIO) 77.87 +1.00 : Reports Q2 (Jun) earnings of $1.37 per share, $0.31 better than the First Call consensus of $1.06; revenues fell 5.6% year/year to $427.2 mln vs the $423.2 mln consensus.
4:30PM Petrohawk Energy beats by $0.05, misses on revs (HK) 15.18 : Reports Q2 (Jun) earnings of $0.10 per share, $0.05 better than the First Call consensus of $0.05; revenues fell 25.4% year/year to $227.3 mln vs the $258.2 mln consensus. During the three months ended June 30, 2009, the Company expended $327 million on drilling, completions, seismic and infrastructure. Expenditures for land were $55 million. The Company participated in the drilling of 30 operated and 102 non-operated wells during the quarter with a success rate of 100%.
4:29PM Dolan Media beats by $0.09, beats on revs; guides FY09 EPS above consensus, revs above consensus (DM) 13.80 +0.66 : Reports Q2 (Jun) earnings of $0.27 per share, $0.09 better than the First Call consensus of $0.18; revenues rose 61.1% year/year to $67 mln vs the $62.5 mln consensus. Based on their Q2 results and favorable trends in their countercyclical revenues, the firm increased their FY09 guidance, now sees EPS of $0.83-$0.91 (vs. $0.79 consensus) up from the previouse range of $0.70-$0.80; now sees FY09 revs of $254-$258.5 mln (vs. $251.28 mln consensus), up from the previous range of $240-$252 mln.
4:27PM Coinstar beats by $0.06, beats on revs; guides FY09 EPS above consensus, revs in-line (CSTR) 34.55 +0.35 : Reports Q2 (Jun) earnings of $0.23 per share, $0.06 better than the First Call consensus of $0.17; revenues rose 42.8% year/year to $314 mln vs the $304.7 mln consensus. Co issues guidance for FY09, sees GAAP EPS of $0.80-0.86 vs. $0.77 consensus; narrows FY09 revs of $1.225-1.3 bln from $1.2-1.3 bln previously vs. $1.26 bln consensus. Mgmt increased guidance for EBITDA to a range of $200 million to $210 million.
4:27PM Catalyst Health Solutions beats by $0.03, misses on revs; guides FY09 EPS above consensus (CHSI) 25.87 +0.02 : Reports Q2 (Jun) earnings of $0.37 per share,$0.03 better than the First Call consensus of $0.34; revenues rose 16.9% year/year to $718 mln vs the $725.8 mln consensus. Co issues upside guidance for FY09, sees EPS of $1.45-1.50 vs. $1.40 consensus. "While we are extremely pleased with our year over year revenue g 17%, the Company's earnings growth of 35% is most noteworthy," stated David T. Blair, Chief Executive Officer of Catalyst. "Our increased margins are the direct result of higher generic utilization across our client base and the successful integration of IPS."
4:27PM Denny's beats by $0.03, reports revs in-line (DENN) 2.54 +0.04 : Reports Q2 (Jun) earnings of $0.09 per share, $0.03 better than the First Call consensus of $0.06; revenues fell 18.1% year/year to $155.8 mln vs the $156.4 mln consensus. Co reaffirms guidance for same-store sales of (3.0%) to (1.0%) for 2009; Adjusted income before taxes of between $15 million and $20 million
4:27PM Cambrex beats by $0.09, beats on revs; guides Q3 revs above consensus (CBM) 4.74 +0.11 : Reports Q2 (Jun) earnings of $0.19 per share, $0.09 better than the First Call consensus of $0.10; revenues fell 9.7% year/year to $59.8 mln vs the $58.9 mln consensus. Co issues guidance for Q3. Expects that sales for 2009, excluding the impact of foreign currency, will be between a decline of 2% and an increase of 2% versus 2008 (approx $55-58 mln), compared to prior guidance of a 2% to 6% increase. EBITDA is currently expected to be between $43 and $48 million compared to a prior range of $42 to $49 million. For 2009, capital expenditures are expected to be approximately $13 to $16 million and depreciation is expected to be $20 to $22 million. The Company currently expects restructuring and strategic alternatives expenses for 2009 to be minimal.
4:26PM ValueClick beats by $0.03, beats on revs; guides Q3 revs, guides EPS below consensus (VCLK) 11.63 -0.12 : Reports Q2 (Jun) GAAP earnings of $0.17 per share, $0.03 better than the First Call consensus of $0.14; revenues fell 17.7% year/year to $130.4 mln vs the $128.3 mln consensus. Co issues guidance for Q3, sees GAAP EPS of $0.13-0.14 vs. $0.15 consensus; sees Q3 revs of $125-130 mln vs. $130.26 mln consensus. "The second quarter is another example of how ValueClick's diversified portfolio of performance-based online advertising offerings is driving strong financial results in a challenging macroeconomic environment. Visibility continues to be limited, but we are confident we have the right technology platforms, relationships, and management to deliver results for advertisers and publishers."
4:22PM Onyx Pharma beats by $0.02, beats on revs (ONXX) 36.55 +0.34 : Reports Q2 (Jun) earnings of $0.16 per share, $0.02 better than the First Call consensus of $0.14; revenues rose 33.6% year/year to $60.2 mln vs the $57.5 mln consensus.
4:20PM Avis Budget beats by $0.13, misses on revs (CAR) 8.94 +0.10 : Reports Q2 (Jun) loss of $0.02 per share, $0.13 better than the First Call consensus of ($0.15); revenues fell 16.8% year/year to $1.31 bln vs the $1.41 bln consensus. "While we continued to face sharply reduced demand for vehicle rentals in the second quarter, rental volumes did stabilize, and the actions we took to keep fleet levels in line with demand allowed us to achieve a stronger-than-expected 7% increase in domestic time and mileage revenue per day." In the second quarter, our car rental revenues decreased 17% year-over-year, driven primarily by a 21% decrease in rental days. Time and mileage revenue per day increased 7% excluding the effects of foreign-exchange movements and increased 4% on a reported basis... Third quarter demand, especially in the leisure segment, appears to be modestly stronger than recent trends, allowing some upward pressure on pricing to continue as our fleet levels remain in line with demand. Nevertheless, the Company continues to expect the macroeconomic environment, conditions in the credit markets, and demand for vehicle rentals to remain challenging in the second half of 2009. Fleet utilization in 2009 should be consistent with 2008 levels.
4:19PM ONEOK beats by $0.11, misses on revs; raises guidance for FY09 (OKE) 33.91 +0.13 : Reports Q2 (Jun) earnings of $0.39 per share, $0.11 better than the First Call consensus of $0.28; revenues fell 46.6% year/year to $2.23 bln vs the $3.8 bln consensus. Co raised guidance for FY09, sees EPS of $2.40-2.70 vs. $2.50 consensus, up from its previous range of $2.25 to $2.75.
4:17PM Caribou Coffee beats two analyst est by $0.06, reports revs in-line wiith two analyst est (CBOU) 6.34 -0.19 : Reports Q2 (Jun) earnings of $0.06 per share, $0.06 better than the two analyst est of ($0.00); revenues fell 0.3% year/year to $63 mln vs the $63.2 mln two analyst est. As a percentage of revenue, operating costs were 37.9%, down from 40.9% in the same period of the prior year.
4:14PM Tessera Tech beats by $0.10, beats on revs; guides Q3 revs above consensus (TSRA) 28.55 -0.37 : Reports Q2 (Jun) GAAP earnings of $0.24 per share, $0.10 better than the First Call consensus of $0.14; revenues rose 10.7% year/year to $62.3 mln vs the $59.9 mln consensus. Co issues upside guidance for Q3, sees Q3 revs of $60-$62 mln vs. $56.77 mln consensus. 3Q09 Micro-electronics revenue is expected to range between $54.0 mln and $56.0 mln, all of which will be royalty and license related. Revenue will reflect the second quarter financial performance of the company's DRAM and Wireless licensees, which may have been stronger than anticipated, but was still down year-over-year. Q3 Imaging & Optics revenue, in total, is expected to be $6.0 mln. Imaging & Optics royalty and license fees revenue is expected to be $3.0 mln. Imaging & Optics products and services revenue is expected to be $3.0 mln.
4:11PM TNS Inc beats by $0.12, beats on revs; guides Q3 EPS above consensus, revs in-line; guides FY09 EPS above consensus, revs above consensus (TNS) 23.16 +0.12 : Reports Q2 (Jun) earnings of $0.56 per share, excluding non-recurring items, $0.12 better than the First Call consensus of $0.44; revenues rose 35.4% year/year to $122 mln vs the $114.9 mln consensus. Co issues mixed guidance for Q3, sees EPS of $0.58-0.63 vs. $0.51 consensus; sees Q3 revs of $138-142 mln vs. $138.40 mln consensus. Co issues upside guidance for FY09, sees EPS of $2.05-2.15 vs. $1.78 consensus; sees FY09 revs of $478-486 mln vs. $470.45 mln consensus.
4:09PM BMC Software beats by $0.10, beats on revs; raises FY10 EPS above consensus (BMC) 34.31 -0.28 : Reports Q1 (Jun) earnings of $0.59 per share, excluding non-recurring items, $0.10 better than the First Call consensus of $0.49; revenues rose 2.9% year/year to $450 mln vs the $441.1 mln consensus. Co issues upside guidance for FY10, sees EPS of $2.47-2.57, excluding non-recurring items, vs. $2.42 consensus. Non-GAAP financial measures exclude exit costs and related charges, primarily consisting of severance costs and lease abandonment costs, and any subsequent changes in estimates related to exit activities as they relate to our restructurings, which involved significant layoffs. For fiscal 2010, the Company is increasing its full-year non-GAAP EPS guidance and reiterating guidance for all other key metrics. This range assumes a non-GAAP effective tax rate of 29 percent and excludes an estimated 58 cents to 62 cents of special items, including expenses related to the amortization of acquired technology and intangibles, stock-based compensation and restructuring activity.
4:08PM American Medical beats by $0.05, misses on revs; guides Q3 revs in-line; narrows FY09 rev guidance (AMMD) 15.15 +0.06 : Reports Q2 (Jun) earnings of $0.29 per share, $0.05 better than the First Call consensus of $0.24; revenues fell 2.6% year/year to $126.4 mln vs the $127.9 mln consensus. Co issues in-line guidance for Q3, sees Q3 revs of $113-119 vs. $118.96 mln consensus. Co narrows rev guidance for FY09, sees FY09 revs of $495-510 mln vs. $507.76 mln consensus, as compared to previous guidance in the range of $495 to $515 mln.
4:05PM Masimo beats by $0.01, misses on revs; reaffirms FY09 EPS guidance, guides FY09 revs below consensus (MASI) 23.40 -0.95 : Reports Q2 (Jun) earnings of $0.22 per share, $0.01 better than the First Call consensus of $0.21; revenues rose 11.8% year/year to $83.6 mln vs the $87.5 mln consensus. Co issues mixed guidance for FY09, sees EPS of $0.83-0.87 vs. $0.88 consensus; sees FY09 revs of $339-346 mln vs. $358.70 mln consensus.
4:04PM Big 5 Sports beats by $0.07, reports revs in-line; guides Q3 EPS above consensus (BGFV) 14.05 +0.41 : Reports Q2 (Jun) earnings of $0.22 per share, $0.07 better than the First Call consensus of $0.15; revenues rose 3.3% year/year to $216 mln vs the $215.9 mln consensus. Co issues upside guidance for Q3, sees EPS of $0.27-0.34 vs. $0.23 consensus. Same store sales increased 0.3% for the second quarter, reflecting a reversal of the trend of same store sales declines for the past several quarters. For the fiscal 2009 third quarter, the Company expects same store sales in the flat to positive low-single digit range
4:04PM American Public Education beats by $0.01, beats on revs; guides Q3 EPS below consensus, revs below consensus; guides FY09 EPS in-line, revs in-line (APEI) 36.32 +0.88 : Reports Q2 (Jun) earnings of $0.28 per share, $0.01 better than the First Call consensus of $0.27; revenues rose 42.8% year/year to $35.7 mln vs the $35.1 mln consensus. Company announced net course registrations of approximately 47,900 in the second quarter of 2009, a year-over-year increase of 44%; Net course registrations from new students in the second quarter of 2009 increased to approximately 11,200, an increase of 27% over the same period of 2008; As of June 30, 2009, a total of approximately 53,600 students were enrolled in American Public University System, a year-over-year increase of 49%. Co issues downside guidance for Q3, sees EPS of $0.25-0.27 vs. $0.31 consensus; sees Q3 revs of $35-36 mln vs. $38.14 mln consensus. Co issues in-line guidance for FY09, sees EPS of $1.20-1.26 vs. $1.24 consensus; sees FY09 revs of $147-150 mln vs. $149.85 mln consensus.
4:02PM DaVita beats by $0.07, beats on revs (DVA) 51.04 +0.34 : Reports Q2 (Jun) earnings of $1.02 per share, $0.07 better than the First Call consensus of $0.95; revenues rose 7.9% year/year to $1.52 bln vs the $1.49 bln consensus. "We are narrowing our operating income guidance for 2009 to be in the range of $900-$930 million. Our operating cash flow guidance remains unchanged at a range of $550-$600 million."
9:10AM Vornado Rlty Trust misses by $0.02, beats on revs (VNO) 51.82 : Reports Q2 (Jun) funds from operations of $1.07 per share, excluding non-recurring items, $0.02 worse than the First Call consensus of $1.09; revenues rose 0.6% year/year to $678.4 mln vs the $608.8 mln consensus.
8:11AM FTI Consulting beats by $0.04, misses on revs; guides FY09 in-line (FCN)56.13 +1.70 : Reports Q2 (Jun) earnings of $0.69 per share, $0.04 better than the First Call consensus of $0.65; revenues rose 6.8% year/year to $360.5 mln vs the $365.9 mln consensus. For FY09, co increases its EPS guidance to $2.65-2.75 vs. $2.73 consensus; affirms prior FY09 rev guidance of $1.45-1.55 bln vs. $1.49 bln consensus.
8:10AM Diebold beats by $0.01, misses on revs; lowers upper range of EPS and rev guidance for FY09 (DBD) 28.37 : Reports Q2 (Sep) earnings of $0.49 per share, ex-items,$0.01 better than the First Call consensus of $0.48; revenues fell 8.9% year/year to $700.5 mln vs the $746.2 mln consensus. Co issues in-line guidance for FY09, sees EPS of $1.70-1.90, excluding non-recurring items, vs. $1.78 consensus, previous guidance was for $1.70-2.00. Co sees revs down 13-7% (consensus -8.9%), previous guidance was for revs down 13-6%. Total gross margin for the second quarter 2009 was 24.7%, a decline of 0.4 percentage points from the second quarter of 2008. The decrease in gross margin was due primarily to a higher percentage of revenue coming from lower margin business segments and regions, as well as lower overall revenue levels. "While we performed very well in the second quarter, the economic condition of our core markets in the financial industry continues to create a challenging environment. As we stated in the first quarter, there are signs that the market has bottomed out and is beginning to stabilize. For the remainder of this year, however, we don't expect any significant rebound in demand as spending remains tight with our financial customers."
8:09AM RTI Intl Metals beats by $0.03, misses on revs (RTI) 15.96 : Reports Q2 (Jun) earnings of $0.01 per share, $0.03 better than the First Call consensus of ($0.02); revenues fell 34.7% year/year to $104.4 mln vs the $112.8 mln consensus. In light of continuing delays in the commercial aerospace sector and its impact on the current excess titanium inventory in the supply chain, as well as supply and demand trends for metallic sourcing, the Company continues to evaluate how long to extend the delay of its titanium sponge project in Hamilton, Mississippi. As part of this evaluation, the Company is exploring the availability of alternative sponge sources that would meet its future needs.
8:07AM Berry Petroleum beats by $0.09, misses on revs (BRY) 25.80 : Reports Q2 (Jun) earnings of $0.38 per share, $0.09 better than the First Call consensus of $0.29; revenues fell 32.8% year/year to $125 mln vs the $140.8 mln consensus. For the same period, operating costs were lower by $9.32 per BOE due to lower natural gas prices which reduces the cost of steam in California and the continued results of company-wide cost reduction initiatives. General and administrative costs were higher than the second quarter of 2008 primarily due to a liability accrued for a penalty in a regulatory matter. While the initial proposed penalty for this matter was substantial, the company believes its ultimate liability will not exceed $2.1 million. "We deployed resources during the second quarter to improve our balance sheet and position the company to take advantage of opportunities in the current commodity price environment. We issued $325 million of 101/4 % notes due 2014, and our liquidity today is over $400 million. We expect to further improve our liquidity by approximately $60 million by the end of 2009 from excess cash flow."
8:06AM Simon Properties beats by $0.01; reaffirms FY09 FFO guidance (SPG) 57.00 : Reports Q2 (Jun) funds from operations of $1.38 per share, excluding items, $0.01 better than the First Call consensus of $1.37. Co reaffirms guidance for FY09, sees FFO of $6.05-6.20, excluding items, vs. $5.91 consensus. Co reaffirmed the guidance provided on May 1, 2009, after giving effect to the impact of the mid-May equity and senior notes offerings and the second quarter non-cash impairment charge, estimating that diluted FFO will be within a range of $5.35 to $5.50 per share for the year.
8:05AM Valeant Pharmaceuticals beats by $0.07, beats on revs; guides FY09 EPS above consensus (VRX) 26.11 : Reports Q2 (Jun) earnings of $0.51 per share, $0.07 better than the First Call consensus of $0.44; revenues rose 24.8% year/year to $191.7 mln vs the $181 mln consensus. Co issues upside guidance for FY09, sees EPS of $1.90-2.10 vs. $1.71 consensus. "We delivered sales and earnings growth at the high end of our expectations, with all businesses and regions reporting solid results. The performance of our Branded Generic business units was particularly strong and reinforces our confidence in our growth strategies for the regions in which they operate."
8:03AM ArvinMeritor beats by $0.06, misses on revs (ARM) 6.89 : Reports Q3 (Jun) loss of $0.25 per share, excluding non-recurring items, $0.06 better than the First Call consensus of ($0.31); revenues fell 47.1% year/year to $993 mln vs the $1.21 bln consensus. On Aug. 4, 2009, ArvinMeritor entered into a purchase and sale agreement to divest the entirety of its Wheels business - previously a division of the company's LVS segment - to Iochpe-Maxion, S. A. (Buyer), a Brazilian producer of wheels and frames for commercial vehicles, railway freight cars and castings. The base purchase price is $180 million; actual closing proceeds may vary depending on taxes and the net cash or debt position of the business at closing. For 4Q09, co anticipates Revenue to be slightly lower, due largely to seasonal patterns; Loss per share, before special items, to be greater.
7:34AM IntercontinentalExchange misses by $0.01, beats on revs (ICE) 96.07 : Reports Q2 (Jun) earnings of $1.12 per share, excluding non-recurring items, $0.01 worse than the First Call consensus of $1.13; revenues rose 27.1% year/year to $250.4 mln vs the $242.9 mln consensus. The increase in transaction and clearing revenue was driven primarily by new products, strong trading volume in ICE's futures segment, the launch of ICE Clear Europe in November 2008 and the Creditex acquisition. At ICE Futures U.S., total volume and average daily volume (ADV) in the second quarter were the highest in exchange history. The ICE Board of Directors has authorized a program to repurchase up to $200 million in ICE common stock until February 28, 2010. Any such repurchases will be made in compliance with applicable U.S. laws. ICE expects to fund any share repurchases with a combination of cash on hand, future cash flows and its existing credit facility. The timing and extent of the repurchases, if any, will depend upon market conditions and ICE's strategic plans at that time.
7:21AM Cameron beats by $0.13, beats on revs; guides Q3 EPS above consensus; guides FY09 EPS above consensus (CAM) 32.96 : Reports Q2 (Jun) earnings of $0.60 per share, excluding non-recurring items, $0.13 better than the First Call consensus of $0.47; revenues fell 14.2% year/year to $1.27 bln vs the $1.22 bln consensus. Co issues upside guidance for Q3, sees EPS of $0.50-0.55 vs. $0.42 consensus. Co issues upside guidancefor FY09, sees EPS of $2.15-2.25 vs. $1.89 consensus. The second quarter 2009 results exclude a pretax charge of $0.03 per diluted share, for severance-related costs and a gain of $0.05 per diluted share related to certain tax matters.
7:16AM Cray beats by $0.10, beats on revs; guides FY09 revs above consensus (CRAY) 8.16 : Reports Q2 (Jun) earnings of $0.10 per share, $0.10 better than the First Call consensus of ($0.00); revenues rose 34.3% year/year to $62.7 mln vs the $61.1 mln consensus. Co issues upside guidance for FY09, sees FY09 revs of $290 mln vs. $262.72 mln consensus. Co says a modest income from operations for 2009 is likely; First Call Consensus is ($0.13). For 2010, Cray expects its revenue to continue to grow, perhaps modestly, and expects to be profitable.
7:13AM Transdigm Group beats by $0.08, misses on revs; guides FY09 EPS above consensus, revs in-line (TDG) 39.99 : Reports Q3 (Jun) earnings of $0.87 per share, excluding non-recurring items, $0.08 better than the First Call consensus of $0.79; revenues rose 2.1% year/year to $189.9 mln vs the $192.1 mln consensus. Co issues guidance for FY09, sees EPS of $3.36-3.42 vs. $3.23 consensus; sees FY09 revs of $750-758 mln vs. $756.18 mln consensus.
7:10AM Och-Ziff Capital misses by $0.03, beats on revs (OZM) 10.93 : Reports Q2 (Jun) earnings of $0.03 per share, $0.03 worse than the First Call consensus of $0.06; revenues fell 37.6% year/year to $95.6 mln vs the $86.9 mln consensus. "We also believe that the current redemption cycle is largely over, although there may be some level of additional redemptions as it continues to taper off. After the events of the past year, investors more than ever understand the importance of manager selection and that there is a significant differentiation among alternative asset managers. We remain confident that, as investors begin to re-allocate capital to alternative investments, we are well positioned to attract that flow and grow assets under management."
7:09AM Entergy misses by $0.03; guides FY09 EPS in-line (ETR) 80.98 : Reports Q2 (Jun) earnings of $1.23 per share, excluding items, $0.03 worse than the First Call consensus of $1.26. Co issues in-line guidance for FY09, sees EPS of $6.20-6.80 vs. $6.56 consensus. The revised as-reported estimate incorporates year-to-date spin-off expenses for outside services, in addition to projected dis-synergies associated with the spin-off of Entergy's non-utility nuclear business and plans to enter into a nuclear services joint venture. Entergy had previously indicated that should the current economic climate and power prices on Entergy Nuclear's open position persist for the balance of 2009, earnings could approach the lower end of the then-guidance ranges of $6.56 to $7.16 per share on an as-reported basis and $6.70 to $7.30 per share on an operational basis.
7:04AM CVS Caremark beats by $0.01, beats on revs; guides FY09 EPS in-line (CVS)34.00 : Reports Q2 (Jun) earnings of $0.65 per share, $0.01 better than the First Call consensus of $0.64; revenues rose 17.6% year/year to $24.87 bln vs the $24.41 bln consensus. Co issues in-line guidance for FY09, sees EPS of $2.59-2.64 vs. $2.60 consensus. PBM network revenues jumped 27.4% while mail service revenues climbed 12.5%; Retail same store sales increased 6.1%; Achieved Best-in-Class Generic Dispensing Rate
7:02AM Church & Dwight beats by $0.07, beats on revs; guides FY09 EPS in-line (CHD) 59.02 : Reports Q2 (Jun) earnings of $0.86 per share, excluding non-recurring items,$0.07 better than the First Call consensus of $0.79; revenues rose 4.9% year/year to $623.1 mln vs the $611.5 mln consensus. Co issues in-line guidance for FY09, raises EPS guidance to $3.35-3.40 vs. $3.36 consensus. "As a result of our strong first half, we are now even more optimistic and confident about our 2009 business forecast. We now expect to achieve organic sales growth of approximately 4% for the total Company in 2009 which reflects approximately 6% organic sales growth for consumer products offset by lower Specialty Products sales."
7:02AM Marvel Entertainment beats by $0.06, beats on revs; guides FY09 EPS in-line (MVL) 40.41 : Reports Q2 (Jun) earnings of $0.37 per share, $0.06 better than the First Call consensus of $0.31; revenues fell 25.9% year/year to $116.3 mln vs the $105.8 mln consensus. Co issues in-line guidance for FY09, sees EPS of $1.25-1.35 vs. $1.35 consensus, prior guidance $1.10-1.35
6:08AM W&T Offshore beats by $0.41, beats on revs (WTI) 11.63 : Reports Q2 (Jun) loss of $0.07 per share, excluding non-recurring items, $0.41 better than the First Call consensus of ($0.48); revenues fell 67.4% year/year to $150.4 mln vs the $137.7 mln consensus. Production increased 16% to 24.8 Bcfe from 21.4 Bcfe in the first quarter of 2009. Adjusted EBITDA increased 42% to $79.8 million from $56.2 million in the first quarter of 2009. For 3Q09, co expects total production (crude oil and natural gas) of 21.1-25.8 Bcfe. For FY09, co expects total production of 82.8-106.4 Bcfe.
1:05AM Vulcan Materials misses by $0.06, misses on revs; guides FY09 EPS below consensus (VMC) 47.80 : Reports Q2 (Jun) earnings of $0.14 per share, excluding non-recurring items, $0.06 worse than the First Call consensus of $0.20; revenues fell 29.3% year/year to $721.9 mln vs the $759.1 mln consensus. Co issues downside guidance for FY09, sees EPS from continuing operations of $0.40-0.65 vs. $0.68 consensus. Co sees 2H09 EPS from operations of $0.55-0.80. Co expects capital spending of approx $175 mln in FY09, down from $354 mln in FY08. Co expects higher selling prices for our products in 2009 to partially offset the earnings effects of lower volumes. For FY09, they expect aggregates pricing to improve 3-4%. The average selling price for asphalt mix in 2009 should also increase from 2008. Te revised outlook for 2009 aggregates demand is due primarily to further weakness expected in private construction. U.S. contract awards in the most recent two months for private nonresidential and private infrastructure construction have weakened, lowering the expectation for aggregates demand from this end use in the second half of the year. Specifically, published contract awards for private nonresidential buildings reported during the second quarter declined more than 60% in Vulcan-served states when compared with the prior year's second quarter. Contract awards for private infrastructure-related projects declined more than 80%. As a result, co now expects 2009 full year aggregates shipments to decline 21-24% from 2008 levels. Co expects the further weakness in private construction awards to be offset somewhat by incremental demand in the second half of 2009 from highway construction activity related primarily to economic stimulus projects
No comments:
Post a Comment