Earnings - 8th May 2009

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).

Earnings - 27th Feb 2009

8:21AM Calgon Carbon beats by $0.04, beats on revs (CCC) 12.65 : Reports Q4 (Dec) earnings of $0.15 per share, $0.04 better than the First Call consensus of $0.11; revenues rose 8.0% year/year to $102.4 mln vs the $96.2 mln consensus. Equipment sales increased by 45.3%, due to higher demand for ion exchange, carbon adsorption, odor control, and ultraviolet light systems. Consumer sales for the fourth quarter of 2008 declined by 49.0% due to production problems that limited the output of activated carbon cloth and due to lower demand for both carbon cloth and PreZerve products.

7:43AM Dril-Quip misses by $0.06, misses on revs; guides Q1 EPS below consensus (DRQ) 21.35 : Reports Q4 (Dec) earnings of $0.64 per share, $0.06 worse than the First Call consensus of $0.70; revenues rose 2.0% year/year to $135.5 mln vs the $143.4 mln consensus. Co issues downside guidance for Q1, sees EPS of $0.55-0.65, excluding non-recurring items, vs. $0.71 consensus. Co also announced that its backlog at December 31, 2008 was approximately $603 mln, compared to its December 31, 2007 backlog of approximately $429 mln.

7:37AM James River Coal misses by $0.44, misses on revs; guides FY09 EPS in-line (JRCC) 11.43 : Reports Q4 (Dec) loss of $1.26 per share, $0.44 worse than the First Call consensus of ($0.82); revenues rose 12.9% year/year to $140.8 mln vs the $151.8 mln consensus. Co issues in-line guidance for FY09, sees EPS of $3.30-3.80 vs. $3.61 consensus. Co announces average sales price in CAPP YTD 2009 $90.13 per ton Compared with $57.66 per ton in Q408. As of December 31, 2008, the co had available liquidity of $ 3.4 mln. This amount included $3.3 mln of cash on hand and $0.1 mln of net availability under the Revolver.

7:34AM AMAG Pharma beats by $0.17, beats on revs (AMAG) 29.02 : Reports Q4 (Dec) loss of $1.28 per share, $0.17 better than the First Call consensus of ($1.45); revenues rose 50.0% year/year to $0.6 mln vs the $0.4 mln consensus.

7:31AM Endo Pharm beats by $0.12, beats on revs; guides FY09 EPS in-line, revs in-line (ENDP) 19.93 : Reports Q4 (Dec) earnings of $0.71 per share, excluding non-recurring items, $0.12 better than the First Call consensus of $0.59; revenues rose 14.0% year/year to $347.3 mln vs the $334.1 mln consensus. Co issues in-line guidance for FY09, sees EPS of $2.59-2.67 vs. $2.60 consensus; sees FY09 revs of $1.39-1.44 bln vs. $1.41 bln consensus. Co also announces that it has licensed from Grunenthal the exclusive rights to develop and market the investigational drug axomadol in the United States and Canada. Under the license agreement signed by both companies, Endo will pay Grunenthal an upfront cash payment as well as additional payments to Grunenthal that are linked to the achievement of future clinical, regulatory and commercial milestones.

6:35AM EMC Insurance Group beats by $0.21; guides FY09 EPS above single analyst est (EMCI) 18.10 : Reports Q4 (Dec) earnings of $0.42 per share, excluding non-recurring items, $0.21 better than the First Call consensus of $0.21. Co issues upside guidance for FY09, sees EPS of $1.45-1.70 vs. $1.17 single analyst est. Premiums earned decreased 0.9 percent to $101,313,000 for the three months ended December 31, 2008 from $102,240,000 for the same period in 2007. Co says, "Operating income for 2008 was negatively impacted by a record amount of catastrophe and storm losses. Net income was further negatively impacted by a record amount of "other-than-temporary" investment impairment losses generated by the severe and prolonged turmoil in the financial markets. On the positive side, our loss and settlement expense reserves remain at a very adequate level and our financial condition continues to be very strong."

1:59AM Insituform Tech beats by $0.01, reports revs in-line; guides FY09 EPS in-line (INSU) 12.41 : Reports Q4 (Dec) earnings of $0.23 per share, excluding non-recurring items,$0.01 better than the First Call consensus of $0.22; revenues rose 5.6% year/year to $137.3 mln vs the $137 mln consensus. Co issues in-line guidance for FY09, sees EPS of 0.90-0.95, excluding non-recurring items, vs. $0.93 consensus. Co expects to deliver profitability improvement from every operating segment in 2009. Co will give more specific guidance with respect to the impact of the acquisitions and recently completed equity offering once they have closed both acquisitions and have been able to finalize the appropriate operating plans with senior management team. Total contract backlog declined to $249.1 mln at December 31, 2008 compared to $292.9 mln at September 30, 2008. The December 31, 2008 level of backlog was lower than total contract backlog of $259.0 mln at December 31, 2007.

1:51AM GMX Resources reports Q408 results (GMXR) 19.18 : Reports Jan (Q4) loss of $0.04 per share, excluding non-recurring items, better than First Call consensus of $(0.06); revenues increased 13.7% year/year to $24.09 mln vs the $21.31 mln consensus. GMXR's 2009 CAPEX budget is $220 mln which includes approx 25 net H/B Hz wells in 2009. 98% of the 2009 drilling program will be focused on the Haynesville/Bossier horizontal drilling program which has the co's highest expected rate of return. FY09 is 24 Bcfe, an estimated 86% growth over 2008, and 2.8 Bcfe in 1Q09, with only two H/B Hz completions. Four H/B Hz completions are projected for 2Q09. The co is also transitioning to four H&P FlexRigs for its H/B Hz wells which should provide efficiencies in reducing drilling days, lowering costs and increasing the number of wells drilled per year. Based on a Henry Hub price of $5.10 per Mmbtu for natural gas and $40 per barrel of oil, the co expects to generate oil and natural gas sales revenue, including hedges, of approx $153.3 mln, discretionary cash flow of $100.0 mln, and EBITDA of $114.1 mln.

Earnings - 7th Aug 2008 (2)

9:03AM Sempra Energy beats by $0.07, misses on revs; guides FY08 EPS in-line (SRE) 55.98 : Reports Q2 (Jun) earnings of $0.98 per share, $0.07 better than the First Call consensus of $0.91; revenues fell 5.9% year/year to $2.5 bln vs the $2.56 bln consensus. Co issues in-line guidance for FY08, sees EPS of $3.80-4.00 vs. $3.88 consensus, up from the previous range of $3.65 to $3.85 per share.

9:01AM Arena Resources beats by $0.02, beats on revs (ARD) 39.10 : Reports Q2 (Jun) earnings of $0.67 per share, $0.02 better than the First Call consensus of $0.65; revenues rose 187.8% year/year to $62.2 mln vs the $57 mln consensus.

9:01AM Diodes beats by $0.01, reports revs in-line; guides Q3 revs in-line (DIOD) 27.40 : Reports Q2 (Jun) earnings of $0.35 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.34; revenues rose 20.5% year/year to $116 mln vs the $115.3 mln consensus. Co issues in-line guidance for Q3, sees Q3 revs of $134-142 mln vs. $134.28 mln consensus.

8:35AM Mediacom Comm beats by $0.25, beats on revs; guides FY08 revs in-line (MCCC) 5.81 : Reports Q2 (Jun) earnings of $0.22 per share, $0.25 better than the First Call consensus of ($0.03); revenues rose 7.6% year/year to $349.5 mln vs the $344.1 mln consensus. Co issues in-line guidance for FY08, sees FY08 revs up 7-8% which equates to $1.38-1.40 bln vs. $1.39 bln consensus.

8:12AM US Cellular misses by $0.01, beats on revs (USM) 62.20 : Reports Q2 (Jun) earnings of $0.83 per share, $0.01 worse than the First Call consensus of $0.84; revenues rose 9.2% year/year to $1.06 bln vs the $1.03 bln consensus. Co sees Y08 net retail customer adds of 175-225k, service revs of $3.9-4.0 bln.

8:06AM Delta Petroleum beats by $0.02, beats on revs (DPTR) 18.93 : Reports Q2 (Jun) earnings of $0.04 per share, excluding items, $0.02 better than the First Call consensus of $0.02; revenues rose 81.0% year/year to $69.5 mln vs the $66.1 mln two analyst estimate. Before adjusting for the selected items, the Company reported a net loss for the six months ended June 30, 2008 of ($42.2 million), or ($0.47) per share, compared with a net loss of ($113.7 million), or ($1.95) per diluted share, in the six months ended June 30, 2007.

8:01AM RBC Bearings misses by $0.03, beats on revs; guides Q2 revs above consensus (ROLL) 33.49 : Reports Q1 (Jun) earnings of $0.49 per share, $0.03 worse than the First Call consensus of $0.52; revenues rose 15.8% year/year to $92.4 mln vs the $90.9 mln consensus. Co issues upside guidance for Q2, sees Q2 revs of $95-97 mln vs. $89.15 mln consensus.
8:00AM S&P futures vs fair value: -7.5. Nasdaq futures vs fair value: -10.2. : Futures suggest a lower open after disappointing results from two Dow components. AIG (AIG) reported a second quarter loss of $0.51 per share, ex-items, which is $1.14 worse than the consensus estimate, sending shares of AIG tumbling 11% in premarket trading. Shares of Wal-Mart (WMT) are down 3.4% in premarket trading after the company reported July same-store sales rose 3%, which fell short of the Briefing.com consensus that called for 3.3% growth. Meanwhile, crude prices are up 1.7% to $120.60 per barrel, which follows a drop of more than 5% over the three previous sessions. As expected, the European Central Bank left its benchmark unchanged at 4.25%, and the Bank of England left its rate at 5.00%.

7:58AM Pride Intl beats by $0.04, reports revs in-line (PDE) 38.86 : Reports Q2 (Jun) earnings of $0.80 per share, excluding non-recurring items, $0.04 better than the First Call consensus of $0.76; revenues rose 5.7% year/year to $560.3 mln vs the $557.6 mln consensus.

7:47AM Williams Partners beats by $0.17, beats on revs (WPZ) 28.64 : Reports Q2 (Jun) earnings of $0.92 per share, $0.17 better than the First Call consensus of $0.75; revenues rose 28.0% year/year to $178.2 mln vs the $155.3 mln consensus.

7:39AM Warnaco Group beats by $0.24, beats on revs; guides FY08 EPS above consensus, revs above consensus (WRC) 43.34 : Reports Q2 (Jun) earnings of $0.71 per share, excluding non-recurring items, $0.24 better than the First Call consensus of $0.47; revenues rose 22.1% year/year to $503.8 mln vs the $449.4 mln consensus. Co issues upside guidance for FY08, sees EPS of $2.80-2.90, excluding non-recurring items, vs. $2.77 consensus; sees FY08 revs to grow 13-15% which equates to $2.06-2.1 bln vs. $2.04 bln consensus.

7:37AM Talbots reports Q2 sales below consensus; reaffirms full year guidance (TLB) 14.40 : Co reports Q2 revs of $528 mln vs $558.59 mln First Call consensus. Total Company comparable store sales declined 12.0% for Q2. Reffirms FY09 EPS guidance of $0.47-0.52 vs $0.45 First Call consensus."Our second quarter sales results reflect a weak response to our Talbots and J. Jill brand end of season clearance events, which began in June. Further, we made two key business decisions during the quarter that although we expect to benefit from in the third quarter, negatively impacted our second quarter results."

7:33AM Dril-Quip beats by $0.01, beats on revs; guides Q3 EPS in-line (DRQ) 50.59 : Reports Q2 (Jun) earnings of $0.68 per share, $0.01 better than the First Call consensus of $0.67; revenues rose 24.2% year/year to $142.5 mln vs the $136.2 mln consensus. Co issues in-line guidance for Q3, sees EPS of $0.63-0.73, excluding non-recurring items, vs. $0.73 consensus. In addition, the co announced that its backlog at June 30, 2008 was approximately $560 million, compared to its June 30, 2007 backlog of approximately $394 million. The Company's June 30, 2008 backlog represents an increase of $122 million over its previously reported backlog of $438 million as of March 31, 2008. This increase is primarily the result of the receipt of orders for the supply of Dril-Quip Drilling Riser Systems for two newbuild deepwater floating drilling rigs. These orders have a total value of approximately $80 million and are scheduled for delivery during 2010.

7:30AM Alliant Tech misses by $0.03; reaffirms FY09 EPS guidance, guides FY09 revs in-line; annoucnes 5 mln share buyback (ATK) 101.44 : Reports Q1 (Jun) earnings of $1.64 per share, $0.03 worse than the First Call consensus of $1.67; revenues rose 14.8% year/year to $1.1 bln vs the $1.06 bln consensus. Co issues guidance for FY09, sees EPS at upper end of $7.25-7.35 vs. $7.39 consensus; sees FY09 revs of $4.55 bln vs. $4.54 bln consensus. Announces 5 million share repurchase authorization.

7:28AM Barr Pharma beats by $0.11, beats on revs; reaffirms FY08 EPS guidance (BRL) 66.97 : Reports Q2 (Jun) earnings of $0.64 per share, excluding non-recurring items, $0.11 better than the First Call consensus of $0.53; revenues rose 22.9% year/year to $779 mln vs the $627.8 mln consensus. Co reaffirms guidance for FY08, sees EPS of $2.75-3.05 vs. $2.80 consensus.

7:10AM Corrections Corp beats by $0.01, reports revs in-line; guides Q3 EPS below consensus; guides Q4 (Dec) EPS in-line; guides FY08 EPS below consensus (CXW) 28.26 : Reports Q2 (Jun) earnings of $0.30 per share, $0.01 better than the First Call consensus of $0.29; revenues rose 10.2% year/year to $399.6 mln vs the $395.9 mln consensus. Co issues downside guidance for Q3, sees EPS of $0.29-0.31 vs. $0.33 consensus. Co issues in-line guidance for Q4 (Dec), sees EPS of $0.33-0.35 vs. $0.35 consensus. Co issues downside guidance for FY08, sees EPS of $1.21-1.24 vs. $1.25 consensus. "While we are excited about the growth prospects offered by our contract with the California Department of Corrections and Rehabilitation, we have experienced delays in the intake of inmates under our contract, compared to our previous expectations... we have lowered our occupancy and revenue forecast for the remainder of 2008 primarily as a result of these delays."

7:10AM Consolidated Comms Illinois beats by $0.06, beats on revs (CNSL) 13.67 : Reports Q2 (Jun) earnings of $0.22 per share, excluding non-recurring items, $0.06 better than the First Call consensus of $0.16; revenues rose 31.5% year/year to $106.4 mln vs the $104.5 mln consensus. For 2008, the Company provides the following updated full year guidance: Capital expenditures are now expected to be in the range of $46.5 million to $48.0 million, including $2.0 million associated with integration related capital expenditures. This has been lowered from previous guidance of $46.5 million to $49.5 million. The cash interest expense continues to be in the expected range of $64.0 million to $67.0 million. Cash income taxes are expected to be in the range of $12.0 million to $15.0 million.

7:09AM OM Group reports Q2 (Jun) results, beats on revs (OMG) 29.70 : Reports Q2 (Jun) earnings of $1.86 per share, includes items, may not be comparable to the First Call consensus of $1.80; revenues rose 120.8% year/year to $510.8 mln vs the $494.4 mln single estimate. Included in these results are discontinued operations, which showed a loss of $0.4 million in the second quarter of 2008.

7:07AM ISIS Pharm beats by $0.03, beats on revs (ISIS) 17.33 : Reports Q2 (Jun) loss of $0.02 per share, $0.03 better than the First Call consensus of ($0.05); revenues rose 765.1% year/year to $33 mln vs the $26.2 mln consensus.

7:06AM Swift Energy beats by $0.27, beats on revs (SFY) 48.23 : Reports Q2 (Jun) earnings of $2.66 per share, $0.27 better than the First Call consensus of $2.39; revenues rose 67.9% year/year to $262.7 mln vs the $247.4 mln consensus.

7:06AM Cardinal Health beats by $0.02, misses on revs; guides Q1 EPS below consensus; guides FY08 EPS above consensus; exploring spin-off of Clinical And Medical Products businesses (CAH) 54.51 : Reports Q4 (Jun) earnings of $0.97 per share, $0.02 better than the First Call consensus of $0.95; revenues rose 3.0% year/year to $22.93 bln vs the $23.17 bln consensus. Co issues downside guidance for Q1, sees EPS of $0.70 vs. $0.94 consensus. Co issues upside guidance for FY08, sees EPS of $3.80-3.95 vs. $3.78 consensus. For fiscal 2009, the company expects revenue growth of 6-7%. Cardinal Health also announces that its board of directors has supported a management recommendation to actively explore a potential separation of the company's primary operating and reporting segments, which could involve a tax-free spin-off of the clinical and medical products businesses as a separate, publicly traded company. Cardinal Health plans to announce its decision within approximately 60 to 90 days.