Earnings - 28th April 2009 (2)

7:49AM Valero Energy beats by $0.09, misses on revs (VLO) 20.74 : Reports Q1 (Mar) earnings of $0.59 per share, $0.09 better than the First Call consensus of $0.50; revenues fell 50.5% year/year to $13.82 bln vs the $19.86 bln consensus. The increase in operating income was mainly due to higher refining margins on gasoline and secondary products, such as fuel oil, asphalt, and petroleum coke. Also contributing to the increase in operating income versus the first quarter of 2008 was a decline in refining operating expenses due primarily to lower energy costs. Partially offsetting the increase in first quarter 2009 operating income was the significant decline in sour crude oil discounts and lower diesel and jet fuel margins. Throughput volumes also declined due to downtime at certain refineries.

7:45AM Fortune Brands guides Q1 above consensus; reaffirms FY09 guidance; lowers annual dividend to $0.76 from $1.76 (FO) 36.52 : Co issues upside guidance for Q1 (Mar), sees EPS of $0.30, excluding non-recurring items, vs. $0.18 First Call consensus. Co reaffirms guidance for FY09 (Dec), sees EPS of $2.00-2.50 vs. $2.22 consensus. Co said, "Each of our businesses performed at or above our expectations in navigating what we expected to be the most difficult quarter of the year". The company also announced a series of initiatives designed to increase free cash flow, thereby strengthening its balance sheet and enhancing its ability to pay down debt and capitalize on potential value-creating opportunities. As a result of these initiatives, the company boosted its 2009 target for free cash flow from the range of $100-200 million to the range of $400 million, after dividends and capital expenditures. Co also announces a reduction in the dividend to an annual rate of $0.76 per share - payable 19 cents per quarter.

7:35AM Coca-Cola Ent beats by $0.15, beats on revs; guides FY09 EPS above consensus (CCE) 15.13 : Reports Q1 (Mar) earnings of $0.20 per share, $0.15 better thanthe First Call consensus of $0.05; revenues rose 3.2% year/year to $5.05 bln vs the $4.86 bln consensus. Co issues upside guidance for FY09, sees EPS of $1.24-1.29 vs. $1.20 consensus. "We remain cautious about the rest of the year, however, as the first quarter is our smallest reporting period and general economic conditions remain challenging, both in North America and Europe."

7:34AM Mead Johnson Nutrition beats by $0.15, revs in-line; guides FY09 EPS above consensus (MJN) 26.25 : Reports Q1 (Mar) earnings of $0.57 per share, excluding non-recurring items, $0.15 better than the First Call consensus of $0.42; revenues fell 1.5% year/year to $693.0 mln vs the $693.6 mln consensus. Co issues upside guidance for FY09, sees EPS of $1.90-2.05, excluding non-recurring items, vs. $1.87 consensus. Co expects full-year results will be driven by double-digit revenue gains in key growth markets in Asia and Latin America and supported by innovative new products scheduled for launch in the US and internationally through the remainder of 2009..

7:33AM EMCOR Group beats by $0.22, misses on revs; reaffirms FY09 EPS guidance, revs guidance (EME) 19.35 : Reports Q1 (Mar) earnings of $0.55 per share, $0.22 better than the First Call consensus of $0.33; revenues fell 16.1% year/year to $1.39 bln vs the $1.51 bln consensus. Co reaffirms guidance for FY09, sees EPS of "base line" EPS of $1,80 vs. $1.91 consensus; sees FY09 revs of $6-6.3 bln vs. $6.19 bln consensus. Contract backlog as of March 31, 2009 was $3.67 billion, compared to contract backlog of $4.39 billion as of March 31, 2008 and $4.00 billion at December 31, 2008. The decline in backlog was principally attributable to reduced contract awards in the hospitality / gaming sectors, particularly in Las Vegas, and in the commercial sector partially offset by growth in the transportation, industrial, institutional and water and wastewater sectors.

7:06AM DineEquity beats by $0.43, beats on revs; reaffirms key financial performance guidance metrics for 2009 (DIN) 26.14 : Reports Q1 (Mar) earnings of $0.72 per share, excluding non-recurring items, $0.43 better than the First Call consensus of $0.29; revenues fell 15.5% year/year to $374.2 mln vs the $364.3 mln consensus. IHOP's domestic system-wide same-store sales increased 2.0% for the first quarter 2009 compared to the same quarter last year, reflecting higher average guest check and slightly positive guest traffic. Same-store sales for Applebee's company-operated restaurants decreased 3.2% for the first quarter 2009 compared to the same quarter last year. Co reiterated its key financial performance guidance metrics for 2009, which include: Applebee's company-operated same-store sales performance ranging between negative 2% to negative 5% for fiscal 2009 with domestic system- wide same-store sales expected to be similar to that of company-operated restaurants for the year. Improved operating margin at Applebee's company-operated restaurants expected by 50 to 150 basis points. IHOP's system-wide same-store sales performance to range between positive 1% and negative 1%.

7:06AM Under Armour beats by $0.05, beats on revs (UA) 21.70 : Reports Q1 (Mar) earnings of $0.08 per share, $0.05 better than the First Call consensus of $0.03; revenues rose 27.1% year/year to $200 mln vs the $182.1 mln consensus.

7:02AM Group 1 Auto beats by $0.10, misses on revs (GPI) 18.11 : Reports Q1 (Mar) earnings of $0.24 per share, excluding non-recurring items, $0.10 better than the First Call consensus of $0.14; revenues fell 32.2% year/year to $1.02 bln vs the $1.14 bln consensus.

7:01AM Waters beats by $0.16, misses on revs (WAT) 37.70 : Reports Q1 (Mar) earnings of $0.74 per share, $0.16 better than the First Call consensus of $0.58; revenues fell 10.4% year/year to $333.1 mln vs the $337.5 mln consensus.

6:50AM Scotts Miracle-Gro beats by $0.01, misses on revs; guides FY09 EPS below consensus (SMG) 37.64 : Reports Q2 (Mar) earnings of $1.25 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $1.24; revenues rose 0.2% year/year to $960.1 mln vs the $1014.1 mln consensus. Co issues downside guidance for FY09, sees EPS of $2.20-2.30, excluding non-recurring items, vs. $2.37 consensus. Co says, "In the face of a deteriorating economy, the lawn and garden category continues to show its resiliency, and we continue to see the power of our brands. The strong level of consumer demand in the category now gives us confidence that adjusted earnings will be in the upper half of our guidance of $2.10 to $2.30 per share. While it's still early, we could see upside to our projections if current trends in the core business continue throughout the balance of the lawn and garden season. The results so far in April are encouraging, as the past two weeks have each resulted in record levels of consumer purchases of our products at our major retail partners in the United States."

6:46AM Coventry Health Care beats by $0.05, beats on revs; guides FY09 EPS in-line, revs in-line (CVH) 14.21 : Reports Q1 (Mar) earnings of $0.30 per share, $0.05 better thanthe First Call consensus of $0.25; revenues rose 21.5% year/year to $3.57 bln vs the $3.39 bln consensus. Co issues in-line guidance for FY09, sees EPS of $1.70-1.90 vs. $1.79 consensus; sees FY09 revs of $13.59-13.99 vs. $13.49 bln consensus.

6:23AM ICON plc beats by $0.01, reports revs in-line (ICLR) 15.96 : Reports Q1 (Mar) earnings of $0.35 per share, $0.01 better than the First Call consensus of $0.34; revenues rose 9.2% year/year to $219.8 mln vs the $221.9 mln consensus.  Co's operating margins expanded to 12.2% from 10.7%; net new business wins in the quarter of $265 mln represent a book-to-bill ratio of 1.2. "Demonstrating our confidence in the long term health of the market, on April 20th we acquired the assets of the former Qualia Clinical Services, a Phase I facility based in Omaha, Nebraska, and intend to reopen the unit in May. This investment is expected to be moderately dilutive to 2009 earnings (approx 4 - 6c). Excluding this, we continue to expect to achieve the 2009 guidance given in January, albeit at the lower end." Previous guidance called for FY09 EPS of $1.40-1.52 vs $1.44 First Call consensus; for FY09 revs of $930-980 vs $930 mln consensus.

6:15AM Becton Dickinson beats by $0.02, reports revs in-line; reaffirms FY09 EPS guidance (BDX) 64.89 : Reports Q2 (Mar) earnings of $1.18 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $1.16; revenues fell 0.4% year/year to $1.74 bln vs the $1.76 bln consensus. Excluding the specified item, co reaffirms that diluted EPS from continuing operations for FY09 will increase approx 9-11% over diluted EPS from continuing operations of $4.46 for FY08. Co expects that reported diluted EPS from continuing operations for the FY09 will increase 7-9%.

6:08AM AMEDISYS beats by $0.02, misses on revs; guides FY09 EPS in-line, revs in-line (AMED) 32.93 : Reports Q1 (Mar) earnings of $0.99 per share, $0.02 better than the First Call consensus of $0.97; revenues rose 60.4% year/year to $341.8 mln vs the $345.5 mln consensus. Co issues in-line guidance for FY09, sees EPS of $4.0-4.30, excluding non-recurring items, vs. $4.18 consensus; sees FY09 revs of $1.425-1.475 bln vs. $1.46 bln consensus.

12:41AM Jacobs misses by $0.01, misses on revs; guides FY09 EPS below consensus (JEC) 45.55 : Reports Q2 (Mar) earnings of $0.88 per share, $0.01 worse than the First Call consensus of $0.89; revenues rose 11.7% year/year to $2.98 bln vs the $3.13 bln consensus. Co issues downside guidance for FY09, sees EPS of $3.10-3.50 (previous $3.55-3.90) vs. $3.59 consensus. Co announces backlog totaling $16.6 bln at March 31, 2009, including a technical professional services component of $8.1 bln. This compares to total backlog and technical professional services backlog of $16.2 bln and $7.6 bln, respectively, at March 31, 2008.

12:37AM DaVita beats by $0.01, reports revs in-line (DVA) 44.53 : Reports Q1 (Mar) earnings of $0.92 per share, $0.01 better than the First Call consensus of $0.91; revenues rose 7.7% year/year to $1.45 bln vs the $1.46 bln consensus. Operating income guidance for FY09 remains unchanged at a range of $820-$880 mln. However, as a result of adopting SFAS No. 160, the classification of noncontrolling interests was changed to no longer be deducted from our operating income as previously reported. Therefore, operating income guidance based on the current presentation under SFAS No. 160 is projected to be in the range of $870-$930 mln, even though the underlying fundamental economics of the business have not changed. In addition, operating cash flow guidance is now projected to be in the range of $550-$600 mln.

Earnings - 11th Feb 2009

4:47PM International Coal reports Q4 (Dec) results, misses on revs; provides '09 and '10 production guidance (ICO) 2.74 +0.06 : Reports Q4 (Dec) loss of $0.24 per share, may not be comparable to the First Call consensus of ($0.06); revenues rose 25.7% year/year to $257.7 mln vs the $292.1 mln consensus. Fourth quarter 2008 financial results include non-cash asset impairment charges of $37.4 million. The pre-tax impairment charges include the previously announced $7.2 million charge for non-recoverable mine development costs related to the Sago mine closure, and a $30.2 million goodwill impairment charge related to the Company's ADDCAR subsidiary. For 2009, the Company expects to sell approximately 20.5 million to 21.3 million tons of coal. The average selling price is projected to be $61.50 to $63.50 per ton. The projected average cost per ton sold is $51.00 to $53.00, excluding selling, general and administrative expenses. The Company expects coal production to be approximately 19.5 million to 20.3 million tons. For 2010, the Company expects to sell 20.0 million to 21.0 million tons of coal. Coal production is expected to total 19.5 million to 20.5 million tons.

4:37PM Las Vegas Sands misses by $0.08, misses on revs (LVS) 3.98 +0.23 : Reports Q4 (Dec) loss of $0.04 per share, excluding non-recurring items, $0.08 worse than the First Call consensus of $0.04; revenues rose 3.8% year/year to $1.09 bln vs the $1.17 bln consensus. Co says, "Our target for cost savings initiatives has been increased to $250 mln on an annual basis and these savings are designed to reduce our structural costs for a leaner environment while preserving the service standards that our guests expect us to deliver...   Development work on Marina Bay Sands, in Singapore, and Sands Bethlehem, in Bethlehem, Pennsylvania, continues to progress, with both projects generally tracking to our previously disclosed budgets and opening schedules. In Bethlehem, we are preparing for an opening of Sands Bethlehem in less than four months, in the second quarter of 2009, while in Singapore, we are targeting an opening date for Marina Bay Sands in less than one year. We look forward to bringing these two new properties online, and we expect each to significantly increase our cash flows."

4:10PM Sequenom misses by $0.07, misses on revs (SQNM) 16.90 +0.23 : Reports Q4 (Dec) loss of $0.25 per share, $0.07 worse than the First Call consensus of ($0.18); revenues rose 9.9% year/year to $12.2 mln vs the $13.8 mln consensus. For FY09, co expects the Genetic Analysis revenues to be approximately $49-$53 mln and total operating expenses, excluding Molecular Diagnostics, to be approx $53 mln.

4:09PM ComScore beats by $0.01, misses on revs; guides Q1 EPS above consensus, revs below consensus (SCOR) 12.82 +0.36 : Reports Q4 (Dec) earnings of $0.05 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.04; revenues rose 24.9% year/year to $31.6 mln vs the $32.5 mln consensus. Co issues mixed guidance for Q1, sees EPS of $0.09-0.10 vs. $0.08 consensus; sees Q1 revs of $30.3-30.8 mln vs. $33.38 mln consensus. Co says, "Our focus remains on the long term as we continue to build the leading global digital marketing intelligence platform."

4:08PM Network Appliance reports EPS in-line, misses on revs (NTAP) : Reports Q3 (Jan) earnings of $0.28 per share, in-line with the First Call consensus of $0.28; revenues fell 1.1% year/year to $874.3 mln vs the $912.5 mln consensus. NetApp estimates non-GAAP gross margins for Q4 of fiscal year 2009 to be ~60%; estimates non-GAAP operating expenses for Q4 2009 to increase by about $5-10 mln from Q3;  estimates the company will incur approximately $30-35 mln in GAAP severance and other charges associated with a business restructuring in Q4.

4:05PM Buffalo Wild Wings beats by $0.04, beats on revs; guides FY09 (BWLD) 21.91 +0.12 : Reports Q4 (Dec) earnings of $0.43 per share, $0.04 better than the First Call consensus of $0.39; revenues rose 32.6% year/year to $121.2 mln vs the $117.4 mln consensus. Co issues guidance for FY09 says "We believe our 2009 annual goals of 15% unit growth, 25% revenue growth, and 20% to 25% net earnings growth are achievable, this calculates to ~$1.63-1.71 vs. $1.59 consensus; on rev of $474.6 mln vs. $523.05 mln consensus.

4:05PM Zymogenetics beats by $0.34, beats on revs; guides FY09 EPS above consensus (ZGEN) 4.99 +0.06 : Reports Q4 (Dec) loss of $0.13 per share, $0.34 better than the First Call consensus of ($0.47); revenues rose 75.6% year/year to $36 mln vs the $12.4 mln consensus. Co issues upside guidance for FY09, sees EPS of ($1.09)-(0.80) vs. ($1.55) consensus. The co expects to continue the trend of lower net losses in 2009, driven largely by increased net sales of RECOTHROM and higher collaboration and license revenues. Co says, "We expect another year of important progress in 2009, continuing to build the sales of RECOTHROM, advancing PEG-Interferon lambda into Phase 2, working to execute additional partnering transactions, and continuing to optimize the company's cost structure to achieve our long-term financial objectives."

4:02PM Chipotle Mexican Grill beats by $0.03, beats on revs (CMG) 47.34 -0.77 : Reports Q4 (Dec) earnings of $0.52 per share, $0.03 better than the First Call consensus of $0.49; revenues rose 19.5% year/year to $345.3 mln vs the $339.4 mln consensus. For FY09, co sees comparable restaurant sales increases in the low single digits; 120-130 new restaurant openings; An effective tax rate of approximately 38.5%; Diluted weighted average common shares outstanding of approximately 32.5 million.

8:56AM Genzyme beats by $0.02, reports revs in-line; guides FY09 EPS slightly below consensus, revs in-line (GENZ) 71.19 : Reports Q4 (Dec) earnings of $1.04 per share,$0.02 better than the First Call consensus of $1.02; revenues rose 13.2% year/year to $1.17 bln vs the $1.18 bln consensus. Co issues in-line guidance for FY09, sees EPS of $4.70 vs. $4.74 consensus; sees FY09 revs of 5.2-5.4 vs. $5.25 bln consensus. For FY09 Total revenue for the Genetic Disease segment is expected to reach $2.47 - $2.53 bln this year, compared with $2.23 bln in 2008. Myozyme revenue is expected to increase to $430 - $440 mln, compared with $296 mln in 2008. Th Revenue for Fabrazyme, an important growth driver that is performing well in a competitive marketplace, is expected to rise to $560 - $570 mln in 2009 from $494 mln last year. Cerezyme revenue is expected to reach $1.25 - $1.28 bln, compared with $1.24 bln in 2008, reflecting its mature status and the impact of foreign exchange.

7:33AM Reynolds American beats by $0.11, misses on revs (RAI) 38.86 : Reports Q4 (Dec) earnings of $1.27 per share, excluding non-recurring items, $0.11 better than the First Call consensus of $1.16; revenues fell 2.4% year/year to $2.18 bln vs the $2.2 bln consensus. The Q4 EPS excludes non-cash trademark impairment charges of $145 mln and an investment impairment of $33 mln.

7:12AM Agrium beats by $0.15, beats on revs (AGU) 36.95 : Reports Q4 (Dec) earnings of $0.79 per share, $0.15 better than the First Call consensus of $0.64; revenues rose 33.0% year/year to $1.99 bln vs the $1.96 bln consensus. Co said,  "Our fourth quarter margins were excellent again this quarter, even with the challenges of reduced sales volumes and write-downs in inventories due to the unprecedented changes in phosphate and nitrogen prices over the past four months. We ended 2008 with earnings that were three times our previous record, and our strong balance sheet and positive earnings outlook places us in an excellent financial position for the future. Much of this success is a result of our disciplined growth strategy of diversifying across the entire agricultural value chain... Despite the economic turmoil and uncertainty the world has been facing, we believe that 2009 will prove to be a year where Agrium can again deliver strong annual results. We believe the reduced crop nutrient use experienced over the past four months is not sustainable and that it will ultimately impact grain production and support crop prices and crop input demand. Recent growth initiatives have positioned our Wholesale, Retail, and Advanced Technologies businesses to continue to benefit from what we believe will be robust demand for crop inputs in the coming year."

7:09AM Dean Foods beats by $0.07, misses on revs; guides Q1 and FY09 EPS slightly above consensus (DF) 18.31 : Reports Q4 (Dec) earnings of $0.46 per share, $0.07 better than the First Call consensus of $0.39; revenues fell 4.7% year/year to $3.08 bln vs the $3.22 bln consensus. Co issues upside guidance for Q1, sees EPS of at least $0.38 vs. $0.36 consensus. Co issues upside guidance for FY09, sees EPS of at least $1.50 vs. $1.49 consensus.

2:03AM Arcelor Mittal misses by $0.10, beats on revs; lowers annual dividend to $0.75 from $1.28 (MT) 24.80 : Reports Q4 (Dec) earnings of $0.34 per share, excluding exceptional charges and tax benefit, $0.10 worse than the First Call consensus of $0.44; revenues fell 21.1% year/year to $22.09 bln vs the $19.73 bln consensus. Total steel shipments for the three months ended December 31, 2008 were 17.1 mln metric tonnes as compared with steel shipments of 25.6 mln metric tonnes for the three months ended September 30, 2008 and 28.0 mln metric tonnes for the three months ended December 31, 2007. The decrease resulted from a collapse in demand. Total steel shipments in the Flat Carbon Americas segment were nearly halved at 3.9 mln metric tonnes for the three months ended December 31, 2008, as compared with steel shipments of 6.9 mln metric tonnes for the three months ended September 30, 2008, in line with the sharp deterioration of global steel markets in Q4. Sales also declined to $4.5 bln for the three months ended December 31, 2008 as compared with sales of $8.5 bln for the three months ended September 30, 2008, due to both lower volumes and prices (an 8.7% decrease in average steel selling price). The segment recorded an operating loss of $0.4 bln for the three months ended December 31, 2008 representing a decline from operating income of $0.6 bln for the three months ended September 30, 2008. The operating loss included exceptional charges of $0.5 bln related to write-downs of inventory and raw material supply contracts. Co reduces annual dividend to $0.75/share from $1.28.

12:12AM DaVita beats by $0.04, reports revs in-line (DVA) 47.43 : Reports Q4 (Dec) earnings of $0.94 per share, $0.04 better than the First Call consensus of $0.90; revenues rose 7.8% year/year to $1.46 bln vs the $1.47 bln consensus. Operating income guidance for 2009 remains unchanged at a range of $820-$880 mln.

Earnings - 4th Aug 2008

5:48PM Anadarko Petro beats by $0.04, misses on revs (APC) 55.12 -3.59 : Reports Q2 (Jun) earnings of $1.78 per share, excluding $1.73 in charges, $0.04 better than the First Call consensus of $1.74; revenues fell 39.2% year/year to $2.79 bln vs the $3.68 bln consensus.

5:02PM Central European Dist reports Q2 (Jun) results, beats on revs; raises FY08 gudiance; reaffirms FY09 guidance (CEDC) 69.89 -1.99 : Reports Q2 (Jun) earnings of $0.56 per share, may not be comparable to the First Call consensus of $0.52; revenues rose 56.9% year/year to $421.3 mln vs the $400 mln consensus. Co raises guidance for FY08, sees EPS of $2.72-2.92, ex items, vs. $2.77 consensus; sees FY08 revs of $1.65-1.80 bln vs. $1.69 bln consensus. Co issues in-line guidance for FY09, sees EPS of $3.68-3.93, ex items, vs. $3.82 consensus. The margin accretion from these Russian investments, as well the approximately 25% increase in sales, are having a significant impact on our operating performance as evidenced by our gross margin increase from 20.7% to 24.6% and strong net income performance. "

4:45PM AXIS Capital beats by $0.13; net investment income increases 21% (AXS) 31.35 -0.76 : Reports Q2 (Jun) earnings of $1.47 per share, $0.13 better than the single analyst est of $1.34. Co reports net investment income of $137 mln, a 21% increase. Diluted book value per common share of $30.30, an increase of 21% from June 30, 2007, and 5% from December 31, 2007. Co states, "Despite the extremely competitive market conditions, our underwriting results were good and our reserves from prior accident years continued to develop favorably. We also posted record quarterly net investment income. Our business is still generating very strong underwriting profitability even against the backdrop of increased market loss activity during this first half of the year in the property lines."

4:19PM Comstock beats by $0.26, misses on revs (CRK) 55.50 -4.95 : Reports Q2 (Jun) earnings of $1.50 per share, ex-gain on previously announced property sales, $0.26 better than the First Call consensus of $1.24; revenues rose 107.0% year/year to $172 mln vs the $227.5 mln consensus. Co states that Q2 operating results reflect strong market prices for oil and natural gas combined with strong production growth from Comstock's onshore operations. CSR's production from its continuing onshore operations in 2Q08 increased 42% to 15.3 bln cubic feet equivalent of natural gas as compared to production of 10.7 Bcfe in 2Q07. CSR announces that it plans to increase its 2008 budget for its onshore drilling program to $410 mln as compared to the company's original budget for 2008 of $278 mln.

4:17PM Rackable Systems misses by $0.11, reports revs in-line; reaffirms FY08 EPS guidance, revs guidance (RACK) 12.55 -0.08 : Reports Q2 (Jun) loss of $0.12 per share, $0.11 worse than the First Call consensus of ($0.01); revenues fell 7.6% year/year to $76 mln vs the $76.2 mln consensus. Co reaffirms guidance for FY08, sees EPS of $0.01 vs. $0.16 consensus; sees FY08 revs of $353.2-374.4 mln vs. $352.86 mln consensus. "Our business outlook for the second half of 2008 is positive and we are reaffirming our 2008 annual guidance," said Mark J. Barrenechea, President and Chief Executive Officer of Rackable Systems. "Our new XE series product is in the market, our industry focus is yielding results, and our core Internet market is expanding into cloud computing. We see these as favorable trends for the second half of 2008 and into 2009."

4:09PM China Security and Surveillance beats by $0.02, beats on revs; guides Q3 EPS above consensus, revs above consensus; raises FY08 guidance (CSR) 14.12 -0.14 : Reports Q2 (Jun) earnings of $0.39 per share, $0.02 better than the First Call consensus of $0.37; revenues rose 77.9% year/year to $92.7 mln vs the $86.3 mln consensus. Co issues upside guidance for Q3, sees EPS of $0.43-0.45 vs. $0.43 consensus; sees Q3 revs of $110-115 mln vs. $103.08 mln consensus. Co raises guidance for FY08, sees EPS of $1.60-1.77 vs. $1.66 consensus; sees FY08 revs of $400-410 mln vs. $392.06 mln consensus.

4:07PM Bankrate reports EPS in-line, revs in-line; reaffirms FY08 revs guidance (RATE) 31.59 +0.03 : Reports Q2 (Jun) earnings of $0.33 per share, excluding non-recurring items, in-line with the First Call consensus of $0.33; revenues rose 72.8% year/year to $40.2 mln vs the $40.2 mln consensus. Co reaffirms guidance for FY08, sees FY08 revs of $164-169 mln vs. $165.58 mln consensus; reaffirms adjusted EBITDA for the year to be between $54-58 mln.

4:07PM DaVita beats by $0.07, beats on revs (DVA) 55.89 -0.25 : Reports Q2 (Jun) earnings of $0.90 per share, $0.07 better than the First Call consensus of $0.83; revenues rose 7.2% year/year to $1.41 bln vs the $1.37 bln consensus. "We are narrowing our operating income guidance for 2008 to a range of $800-$840 million. Our operating income for 2009 is currently projected to be in the range of $820-$880 million."

4:05PM AthenaHealth beats by $0.02, beats on revs (ATHN) 27.02 -1.24 : Reports Q2 (Jun) earnings of $0.11 per share, $0.02 better than the First Call consensus of $0.09; revenues rose 34.6% year/year to $33 mln vs the $32.5 mln consensus.

4:05PM Qiagen reports Q2 (Jun) results, misses on revs; raises FY08 guidance (QGEN) 18.59 -0.05 : Reports Q2 (Jun) earnings of $0.20 per share, may not be comparable to the First Call consensus of $0.19; revenues rose 61.4% year/year to $217.9 mln vs the $221.3 mln consensus. Co issues in-line guidance for FY08, sees EPS of $0.79-0.80, up from $0.74-0.78, excluding non-recurring items, vs. $0.78 consensus; sees FY08 revs of $889-919 mln vs. $906.54 mln consensus.

4:03PM Masimo beats by $0.05, beats on revs; guides FY08 EPS above consensus, revs above consensus (MASI) 37.24 -0.56 : Reports Q2 (Jun) earnings of $0.18 per share, $0.05 better than the First Call consensus of $0.13; revenues rose 17.4% year/year to $74.8 mln vs the $71.5 mln consensus. Co issues upside guidance for FY08, sees EPS of $0.64 vs. $0.59 consensus, up from previous guidance of $0.52; sees FY08 revs of $300 mln vs. $297.01 mln consensus, and up from previous guidance of $246-$292 mln.

8:03AM Bronco Drilling misses by $0.08, beats on revs (BRNC) 17.81 : Reports Q2 (Jun) earnings of $0.21 per share, excluding non-recurring items, $0.08 worse than the First Call consensus of $0.29; revenues rose 12.0% year/year to $69.8 mln vs the $67.9 mln consensus. Co increased its number of term contracts during the second quarter and now has approximately 57% of its estimated revenue days for the last two quarters of 2008 and 32% of its estimated revenue days for 2009 covered via term contracts.

8:02AM Freightcar America misses by $0.10, beats on revs (RAIL) 36.13 : Reports Q2 (Jun) earnings of $0.14 per share, excluding non-recurring items, $0.10 worse than the First Call consensus of $0.24; revenues fell 27.7% year/year to $141.3 mln vs the $131.9 mln consensus.

7:35AM IntercontinentalExchange reports EPS in-line, revs in-line; announces $500 mln buyback (ICE) 96.20 : Reports Q2 (Jun) earnings of $1.19 per share, excluding non-recurring items, in-line with the First Call consensus of $1.19; revenues rose 44.3% year/year to $197.2 mln vs the $195.8 mln consensus. ICE also announced that its Board of Directors has authorized a share buyback program of up to $500 mln. "We've continued to grow our business substantially while generating synergies in our U.S. futures business and producing operating margins that reflect our disciplined approach to growth. This consistently strong performance provides us with the balance sheet and cash flows necessary to execute the share repurchase program recently authorized by our Board of Directors, even as we continue to invest for future growth. This program reflects our belief that the current share price does not appropriately reflect the strong underlying fundamentals of our global business. In compliance with SEC rules, we will begin the repurchase of shares after the Creditex acquisition closes." ICE Clear Europe is expected to commence operations on September 15, 2008. Updated guidance includes 2008 revenues in the range of $20-25 mln.

7:01AM Church & Dwight beats by $0.03, beats on revs; guides FY08 EPS above consensus (CHD) 54.75 : Reports Q2 (Jun) earnings of $0.66 per share, $0.03 better than the First Call consensus of $0.63; revenues rose 8.7% year/year to $594 mln vs the $581.1 mln consensus. Co issues upside guidance for FY08, sees EPS of $2.83-2.85 vs. $2.81 consensus.

6:13AM Humana beats by $0.06, beats on revs; guides Q3 EPS above consensus; guides FY08 EPS above consensus, revs in-line (HUM) 44.64 : Reports Q2 (Jun) earnings of $1.24 per share, $0.06 better than the First Call consensus of $1.18; revenues rose 14.4% year/year to $7.35 bln vs the $7.14 bln consensus. Co issues upside guidance for Q3, sees EPS of $1.45-1.50 vs. $1.36 consensus. Co issues mixed guidance for FY08, sees EPS of $4.30-4.40 vs. $4.20 consensus; sees FY08 revs of $28-30 bln vs. $28.51 bln consensus.


6:09AM DISH Network beats by $0.13, reports revs in-line; reports subscriber loss of 25k (DISH) 28.96 : Reports Q2 (Jun) earnings of $0.73 per share, $0.13 better than the First Call consensus of $0.60; revenues rose 5.4% year/year to $2.91 bln vs the $2.91 bln consensus. DISH Network lost approximately 25,000 net subscribers during the quarter ended June 30, 2008, ending the quarter with approximately 13.79 million subscribers.

6:06AM Advanced Medical Optics misses by $0.03, beats on revs; guides FY08 EPS below consensus, reaffirms revs in-line (EYE) 17.20 : Reports Q2 (Jun) earnings of $0.24 per share, excluding non-recurring items, $0.03 worse than the First Call consensus of $0.27; revenues rose 22.6% year/year to $320.5 mln vs the $307.7 mln consensus. Co issues mixed guidance for FY08, sees EPS of $1.00-1.15, excluding non-recurring items, vs. $1.35 consensus; sees FY08 revs of $1.22-1.24 bln vs. $1.23 bln consensus. Co expects its 2008 U.S. excimer procedures to be approx 25% below 2007 levels.