Earnings - 14th May 2009

5:32PM Middleby beats by $0.16, beats on revs (MIDD) 42.59 -0.61 : Reports Q1 (Mar) earnings of $0.77 per share, $0.16 better than the First Call consensus of $0.61; revenues rose 12.8% year/year to $181.5 mln vs the $167.4 mln consensus. We remain on track to realize our cost savings targets and anticipate this business will reach operating margins in excess of 10% this year and the transaction will be accretive in the second half of 2009. We continue to be very excited about this technology and the opportunity to expand the current customer base. Despite the challenging market conditions we continue to see strong interest in TurboChef products."

4:11PM Nordstrom beats by $0.05, beats on revs; raises FY10 EPS guidance, reaffirms FY10 comps guidance (JWN) 20.95 +0.68 : Reports Q1 (Apr) earnings of $0.31 per share, $0.05 better than the First Call consensus of $0.26; revenues fell 9.0% year/year to $1.71 bln vs the $1.69 bln consensus. Based on first quarter performance, the company is revising its outlook for the 2009 fiscal year to reflect increases in gross profit and credit card revenue, partly offset by an increase in bad debt expense. Co raises guidance for FY10, sees EPS of $1.25-1.50, including impact of $0.06 tax benefit, up from prior guidance of $1.10-1.40, vs. $1.27 consensus. Co reaffirms FY10 comps guidance, sees decline of 10-15%.

4:06PM Agilent reports EPS in-line, beats on revs (A) 18.33 +0.28 : Reports Q2 (Apr) earnings of $0.13 per share, in-line with the First Call consensus of $0.13; revenues fell 25.1% year/year to $1.09 bln vs the $1.07 bln consensus. Looking ahead, Bill Sullivan, Agilent president and chief executive officer, noted that there are some tentative signs that the global downturn may be nearing a trough. Said Sullivan, "If these early signals of a bottoming in global electronics markets continue, we could anticipate a bottoming in our electronic measurement business in the next few months. There are also some indications that bio-analytical markets could begin to benefit from the global stimulus packages by year-end.Based on these indicators, we would expect full year fiscal 2009 revenues to be down roughly 25 percent from 2008."

4:03PM ICX Technolgies beats by $0.10, beats on revs; lowers FY09 rev guidance (ICXT) 4.44 +0.23 : Reports Q1 (Mar) loss of $0.10 per share, $0.10 better than the First Call consensus of ($0.20); revenues rose 31.7% year/year to $47.8 mln vs the $40.7 mln consensus. Co lowers revenue guidance for FY09, sees FY09 revs of $190-200 mln vs. $199.87 mln consensus, prior guidance $196-206 mln. Co reaffirms its annual adjusted EBITDA guidance in the range of $2 million to $7 million.

7:34AM Am Superconductor beats by $0.02, beats on revs; guides FY10 EPS below consensus, revs below consensus (AMSC) 24.44 : Reports Q4 (Mar) earnings of $0.03 per share, $0.02 better than the First Call consensus of $0.01; revenues rose 59.4% year/year to $61.2 mln vs the $57.9 mln consensus. Co issues downside guidance for FY10, ending in March 2010, sees EPS of $0.01-0.03 vs. $0.05 consensus; sees FY10 revs of $2.25-2.35 mln vs. $241.56 mln consensus. Co said, "We are increasing our gross margin target for fiscal 2009 from a range of 28 percent to 30 percent to a range of 30 percent to 32 percent... We also expect to be net cash flow positive in fiscal year 2009."

7:04AM Wal-Mart reports EPS in-line; guides Q2 EPS in-line (WMT) 50.03 : Reports Q1 (Apr) earnings of $0.77 per share, in-line with the First Call consensus of $0.77; revenues fell 0.6% year/year to $93.47 bln, in-line with company preannouncement. Co issues in-line guidance for Q2, sees EPS of $0.83-0.88 vs. $0.85 consensus.

7:02AM Kohl's beats by $0.02, reports revs in-line; guides Q2 EPS in-line; raises FY10 guidance range (KSS) 41.95 : Reports Q1 (Apr) earnings of $0.45 per share, $0.02 better than the First Call consensus of $0.43; revenues rose 0.4% year/year to $3.64 bln vs the $3.62 bln consensus. Co issues in-line guidance for Q2, sees EPS of $0.56-0.64 vs. $0.61 consensus. Co updates for FY10, sees EPS of $2.19-2.42 vs. $2.53 consensus, prior guidance $2.00-2.30.

6:33AM Gildan Activewear misses by $0.04, beats on revs (GIL) 10.85 : Reports Q2 (Mar) earnings of $0.06 per share, $0.04 worse than the First Call consensus of $0.10; revenues fell 16.7% year/year to $244.8 mln vs the $226.4 mln consensus; due primarily to a 21.9% decline in activewear sales including a 13.9% decrease in unit shipments of activewear. Gross margins in Q2 were 15.8%, compared to 28.8% after recasting prior year comparatives to reflect the reclassification of manufacturing depreciation and certain items from selling, general and administrative expenses to cost of sales.

6:10AM Urban Outfitters beats by $0.01, reports revs in-line (URBN) 18.83 : Reports Q1 (Apr) earnings of $0.18 per share, $0.01 better than the First Call consensus of $0.17; revenues fell 2.4% year/year to $384.8 mln vs the $386.8 mln consensus

7:54AM JC Penney beats by $0.01, reports revs in-line; guides Q2 EPS below consensus (JCP) 26.65 : Reports Q1 (Apr) earnings of $0.11 per share, $0.01 better thanthe First Call consensus of $0.10; revenues fell 5.9% year/year to $3.88 bln vs the $3.88 bln consensus. Co issues downside guidance for Q2, sees EPS of ($0.25)-($0.15) vs. ($0.09) consensus; sees total sale down 7-10%, comparable store sales down 9-12%. Co says it is raising guidance for FY10, sees EPS of $0.50-0.65 vs. $0.76 consensus; expects full year comparable store sales to decrease approximately 9%. Co said,  "Looking to the balance of the year, we expect consumer spending and mall traffic to remain weak, which will be particularly evident against tough comparisons in the second quarter. As these conditions persist, we will continue to deliver newness and excitement in our merchandise assortments while maintaining a vigilant focus on the areas of the business we control."

7:04AM Fuqi Intl beats by $0.11, misses on revs; guides Q2 EPS in-line, revs below consensus; guides FY09 EPS above consensus, revs below consensus (FUQI) 6.49 : Reports Q1 (Mar) earnings of $0.45 per share, $0.11 better than the First Call consensus of $0.34; revenues rose 41.0% year/year to $109.4 mln vs the $111.1 mln consensus. Co issuesmixed guidance for Q2, sees EPS of $0.27-0.32 vs. $0.29 consensus; sees Q2 revs of $89.5-93.5 mln vs. $95.74 mln consensus. Co issues mixed guidance for FY09, sees EPS of $1.49-1.63 vs. $1.44 consensus; sees FY09 revs of $442-465 mln vs. $469.44 mln consensus. Gross profit margin for the first quarter of 2009 increased 510 bps to 16.5% compared to 11.4% in the same period in the prior year.

Earnings - 9th Dec 2008

5:11PM Pall Corp beats by $0.02, reports revs in-line; reaffirms FY09 EPS in-line (PLL) 27.29 -0.74 : Reports Q1 (Oct) earnings of $0.40 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.38; revenues rose 3.0% year/year to $578 mln vs the $578.7 mln consensus. Co reaffirms above consensus guidance for FY09, sees EPS of $2.15-2.30 vs. $2.00 consensus. Co says, "PLL's market diversity and strength across the globe should help mitigate the impact of economic turmoil. We maintain a strong balance sheet, solid liquidity and are well positioned for the long term. Yet we are not immune to recessionary pressure. Our expectation is that revenue growth will not exceed 4% (in LC) for this fiscal year. Our established business improvement initiatives provide strong levers to achieve our goals.

4:13PM SAIC reports EPS in-line, beats on revs (SAI) 18.34 -0.08 : Reports Q3 (Oct) earnings of $0.29 per share, in-line with the First Call consensus of $0.29; revenues rose 11.3% year/year to $2.63 bln vs the $2.6 bln consensus. Co expects to grow revenue internally 6-9% for FY09; grow EPS 11-18% in FY09.

4:04PM G-III Apparel beats by $0.01, beats on revs; lowers FY09 guidance (GIII) 5.65 -0.36 : Reports Q3 (Oct) earnings of $1.68 per share, $0.01 better than the First Call consensus of $1.67; revenues rose 29.6% year/year to $351.6 mln vs the $338.3 mln consensus. Co issues lowers guidance for FY09, to EPS of $0.95-1.05 vs. $1.27 consensus, prior guidance $1.35-1.40; sees FY09 revs of $715 mln vs. $707.15 mln consensus, prior guidance $730 mln. The Company is also now forecasting EBITDA for the fiscal year ending January 31, 2009 to increase approximately 7% to 15% to a range of approximately $40.5 to $43.5 million compared to its prior guidance of EBITDA in the range of $54.0 million to $55.5 million.

4:00PM Electronic Arts announces that it expects net revenue and EPS for FY09 to be below the financial guidance previously provided (ERTS) 19.35 -2.52 : Co announces that it expects FY09 EPS and revs to be below the financial guidance previously provided (note co previously issued guidance that it sees FY09 $1.00-1.40 vs $1.16 First Call consensus; sees revs $5.0-5.3 bln vs $5.06 bln First Call consensus). The revised expectations are primarily the result of lower than expected sales across North America and Europe. The Company does not expect to provide updated financial guidance for fiscal 2009 prior to reporting its third quarter results in early February 2009. The Company is continuing to pursue cost saving initiatives including a reduction of its product portfolio for fiscal year 2010 with additional associated headcount reductions and facility consolidations.

9:08AM Agilent discloses it is lowering its fiscal first quarter 2009 guidance (A) 17.24 : Co lowers guidance for Q1 (Jan), sees EPS of $0.28-0.32, down from $0.34-0.38, vs. $0.35 First Call consensus; sees Q1 (Jan) revs of $1.25-1.30 bln, down from $1.34-1.39 bln, vs. $1.35 bln consensus.

8:53AM Kroger beats by $0.01, reports revs in-line; guides Q4 EPS below consensus (KR) 27.31 : Reports Q3 (Oct) earnings of $0.39 per share, ex-items, $0.01 better than the First Call consensus of $0.38; revenues rose 8.9% year/year to $17.58 bln vs the $17.42 bln consensus. Co issues downside guidance for Q4, sees EPS of $0.49-$0.52 vs. $0.53 consensus. Co reaffirms its identical supermarket sales guidance for FY08 and said it expects FY sales growth of 4.5-5.45%, ex-fuel. "Looking ahead to 2009, we are currently projecting identical supermarket sales growth, excluding fuel, of 3% to 5%. This will enable Kroger to generate earnings per share growth that, combined with Kroger's dividend, will create a favorable return for shareholders even in a difficult economic environment."

8:34AM KMG Chemicals reports Q1 EPS $0.14 vs $0.14 First Call consensus, a 37% increase over Q107; revs $52.2 mln vs $44.59 mln First Call consensus (KMGB) 3.99 : Co also maintains guidance for FY09, says "We are on track to meet our net sales goal of more than $200 million in fiscal 2009," vs consensus $195.72 mln.

7:02AM AutoZone beats by $0.05, reports revs in-line (AZO) 116.50 : Reports Q1 (Nov) earnings of $2.23 per share, $0.05 better than the First Call consensus of $2.18; revenues rose 1.6% year/year to $1.48 bln vs the $1.49 bln consensus.

12:19AM Mitcham Ind misses by $0.16, misses on revs; guides FY09 EPS below consensus, revs below consensus (MIND) 4.56 : Reports Q3 (Oct) earnings of $0.18 per share, excluding tax benefit, $0.16 worse than the First Call consensus of $0.34; revenues fell 15.5% year/year to $14.6 mln vs the $21.9 mln consensus. Co issues downside guidance for FY09, sees EPS of $0.96-1.10 vs. $1.33 consensus; sees FY09 revs of $67.0-70.0 mln vs. $80.83 mln consensus. Co announces Seamap was awarded orders totaling approx $11.0 mln by The Polarcus Group of Companies.