Earnings - 5th March 2009

5:37PM Intrepid Potash reports EPS in-line, beats on revs (IPI) 17.04 -0.69 : Reports Q4 (Dec) earnings of $0.30 per share, in-line with the First Call consensus of $0.30; revenues rose 41.2% year/year to $79.5 mln vs the $77.7 mln consensus. The average net realized sales price for potash in Q4 2008 increased to $762 per short ton ($840 per metric tonne) compared to $224 per short ton ($247 per metric tonne) in the same period of 2007. Potash sales in the fourth quarter were 94,000 short tons compared to 215,000 short tons in the fourth quarter of 2007. Potash production in the quarter decreased to 201,000 short tons compared to 217,000 short tons produced in Q4 of 2007. Average net realized sales price for langbeinite, which we market under the registered name of Trio(R) increased to $323 per short ton ($356 per metric tonne) in the fourth quarter of 2008 compared to $137 per short ton ($151 per metric tonne) in the fourth quarter of 2007. Co says, "we are approaching 2009 thoughtfully and are focused on maintaining the strength of our balance sheet which allows us to retain a strong marketing position as it relates to the price of potash. We intend to accomplish this by managing production volumes and cash and by adjusting our capital programs appropriately throughout the year. Although we believe that long-term potash fundamentals are solid, we expect the near-term market conditions to remain erratic and unpredictable. The potash market will guide business decisions in 2009, specifically those related to production and capital allocation."

4:08PM Fuel Systems Solutions reports Q4 (Dec) results, misses on revs; guides FY09 revs below consensus (FSYS) 19.11 -0.38 : Reports Q4 (Dec) earnings of $0.04 per share, may not be comparable to the First Call consensus of $0.41. Net income for the fourth quarter of 2008 included a $1.1 million increase in the provision for the loan receivable from the company's unconsolidated WMTM joint venture, a $1.0 million in foreign currency exchange loss, a $900,000 increase in provision for accounts receivable, and $800,000 in costs related to the acquisition of DS; revenues rose 5.8% year/year to $84.3 mln vs the $91 mln consensus. Co issues downside guidance for FY09, sees FY09 revs of $330-360 mln vs. $418.54 mln consensus. As such, the company is targeting 2009 gross margin between 25.0% and 27.0% and 2009 operating margin to be between 10.0% and 12.0%.

4:07PM Union Drilling beats by $0.05, beats on revs (UDRL) 2.58 -0.39 : Reports Q4 (Dec) earnings of $0.19 per share, excluding non-recurring items, $0.05 better than the First Call consensus of $0.14; revenues rose 20.0% year/year to $80.9 mln vs the $78.8 mln consensus. "The severe decline in our stock price below book value per share over the last few months of 2008 required us to take an impairment charge for the $7.9 million of goodwill on our balance sheet, which resulted in Union Drilling reporting a net loss for the quarter. However, our conservative balance sheet and term contract cover provided us with the ability to take advantage of the depressed stock price through our share repurchase program. Approximately nine percent of the equity in the Company was purchased for less than the cost of a new drilling rig. We will continue to assess the merits of further share repurchases in this declining environment."

4:06PM ArcSight beats by $0.13, beats on revs; guides Q4 EPS in-line, revs above consensus; guides FY09 EPS above consensus, revs above consensus (ARST) 8.79 +0.15 : Reports Q3 (Jan) earnings of $0.21 per share, $0.13 better than the First Call consensus of $0.08; revenues rose 31.4% year/year to $36.4 mln vs the $32.7 mln consensus. Co issues mixed guidance for Q4, sees EPS of $0.09-0.15 vs. $0.10 consensus; sees Q4 revs of $34-38 mln vs. $33.84 mln consensus. Co issues upside guidance for FY09, sees EPS of $0.41-0.48 vs. $0.29 consensus; sees FY09 revs of $130.9-134.9 vs. $127.34 mln consensus. Co says, "Enterprises and govt agencies place great value on protecting their businesses, assets, and services whether in robust or difficult economic times. In our view, this important and resilient value proposition is supported by our continued strong growth in our first year as a public co."

4:02PM Cooper Cos beats by $0.14, beats on revs; guides FY09 EPS in-line, revs in-line (COO) 19.21 -0.95 : Reports Q1 (Jan) earnings of $0.53 per share, $0.14 better thanthe First Call consensus of $0.39; revenues rose 3.5% year/year to $251.1 mln vs the $245 mln consensus. Co issues in-line guidance for FY09, sees EPS of $2.16-$2.36 vs. $2.21 consensus; sees FY09 revs of $1.03-$1.10 bln vs. $1.07 bln consensus.

8:06AM Cornell Corr reports Q4 EPS of $0.50 vs $0.40 First Call consensus; revs of $101.5 mln vs $101.53 mln First Call consensus (CRN) 13.99 : Cornell Corr sees Q1 EPS of $0.30-0.34 vs $0.34 First Call consensus; Cornell Corr sees FY09 EPS of $1.64-1.72 vs $1.60 First Call consensus.

8:05AM Lincoln Educational Services beats by $0.07, beats on revs; guides Q1 EPS above consensus, revs above consensus; guides FY09 EPS above consensus, revs above consensus (LINC) 15.56 : Reports Q4 (Dec) earnings of $0.51 per share, excluding non-recurring items, $0.07 better than the First Call consensus of $0.44; revenues rose 18.8% year/year to $107.3 mln vs the $103.3 mln consensus. Co issues upside guidance for Q1, sees EPS of $0.05-0.07 vs. $0.01 consensus; sees Q1 revs of $112-114 mln vs. $103.39 mln consensus. Co issues upside guidance for FY09, sees EPS of $0.90-0.95 vs. $0.86 consensus; sees FY09 revs of $476-486 mln vs. $446.16 mln consensus.

8:03AM Western Refining beats by $0.08, misses on revs (WNR) 11.22 : Reports Q4 (Dec) earnings of $0.49 per share, excluding non-recurring items, $0.08 better than the First Call consensus of $0.41; revenues fell 31.5% year/year to $1.66 bln vs the $2.16 bln consensus. "Refining margins in our markets are typically weaker in the first quarter. However, they were strong in the months of January and February and we expect to have continued strong margins in our markets in the month of March as we move into the driving season... With the improvements we have made at our refineries and the robust margins we have experienced to date in the quarter, the first quarter of 2009 has the potential to be one of our most profitable quarters."

7:33AM China Security and Surveillance misses by $0.04, beats on revs; reaffirms FY09 EPS guidance, revs guidance (CSR) 3.11 : Reports Q4 (Dec) earnings of $0.49 per share, $0.04 worse than the First Call consensus of $0.53; revenues rose 70.4% year/year to $143.5 mln vs the $129.4 mln consensus. Co reaffirms guidance for FY09, sees EPS of $2.16-2.26 vs. $2.17 consensus; sees FY09 revs of $600-630 mln vs. $572.44 mln consensus. offerings. Co says "... while our pricing and profitability remain firm in the government sector, we nevertheless experienced price erosions in our corporate segment, due to higher emphasis on cost controls by many of our corporate customers. As such, while we continue to project healthy demand and revenue growth over the next 12 months, we are focused on further integrating our operations and generating greater synergies across our portfolio of technologies, products, and subsidiaries. We are also focused on increasing our manufacturing and administrative efficiencies through targeted cost savings initiatives.''

7:04AM Fuel-Tech misses by $0.01, beats on revs (FTEK) 8.28 : Reports Q4 (Dec) loss of $0.02 per share, $0.01 worse than the First Call consensus of ($0.01); revenues fell 44.4% year/year to $18.1 mln vs the $16.5 mln consensus. Co said, "While we are reasonably encouraged about our business prospects for 2009, especially in the wake of the re-instatement of CAIR and the resulting strong start to our 2009 APC orders, we are mindful of the severe economic stress on many of our customers. We believe that both our revenues and profits in 2009 will exceed our 2008 results, but we think it is just too early in the year for us to more definitively quantify those estimates in a meaningful way. We will consider providing more definitive estimates on our future quarterly earnings conference calls."

7:03AM Family Dollar reports February same-store sales increased 6.4%; sees Q2 EPS of $0.59-0.61 vs $0.51 First Call consensus (FDO) 27.27 :  

6:59AM SXC Health Solutions beats by $0.14, beats on revs; guides FY09 EPS above consensus, revs in-line (SXCI) 19.21 : Reports Q4 (Dec) earnings of $0.28 per share, excluding amortization of NMHC acquisiton, $0.14 better than the First Call consensus of $0.14; revenues rose 1143.2% year/year to $292.8 mln vs the $280.9 mln consensus. Co issues mixed guidance for FY09, sees EPS of $0.99-1.08 vs. $0.77 consensus; sees FY09 revs of $1.2-1.3 bln vs. $1.21 bln consensus. Co sees adjusted Ebitda of $51.0-54.0 mln.

6:06AM Urban Outfitters misses by $0.04, misses on revs (URBN) 15.97 : Reports Q4 (Jan) earnings of $0.24 per share, $0.04 worse than the First Call consensus of $0.28; revenues rose 9.2% year/year to $508.1 mln vs the $515.3 mln consensus. For Q4, gross profit margin declined by 555 basis points, vs the prior year's comparable period. This decrease is primarily due to a higher rate of applied and anticipated merchandise markdowns to clear seasonal inventory.

1:26AM Middleby beats by $0.15, misses on revs (MIDD) 21.47 : Reports Q4 (Dec) earnings of $1.04 per share, $0.15 better than the First Call consensus of $0.89; revenues rose 3.8% year/year to $151 mln vs the $161.1 mln consensus.

Earnings - 7th Jan 2009

4:57PM Robbins & Myers beats by $0.08, reports revs in-line; guides Q2 EPS in-line; guides FY09 EPS in-line (RBN) 18.64 -0.53 : Reports Q1 (Nov) earnings of $0.50 per share,$0.08 better than the First Call consensus of $0.42; revenues rose 2.6% year/year to $178 mln vs the $176.5 mln consensus. Co issues in-line guidance for Q2, sees EPS of $0.36-0.46, excluding a $0.04 benefit, vs. $0.42 consensus. Co issues in-line guidance for FY09, sees EPS of $1.80-2.00 vs. $1.92 consensus. Co says, "RBN remains financially secure with $74 mln of cash, an undrawn senior credit facility, and $33 mln of debt. We have revised our expectations for the full year to reflect recent changes in order levels, unfavorable global economic conditions and currency translation headwinds, mitigated somewhat by announced share repurchases and efforts to reduce costs."

4:36PM EMC Corp reaffirms Q4 EPS above consensus, reaffirms revs guidance in-line; announces program to reduce cost structure (EMC) 11.18 -0.15 : Co reaffirms Q4 revs of $4.0 bln vs $4.0 bln First Call consensus, reaffirms EPS of $0.25-0.26, excluding $0.10 restructuring charge and a $0.02 intangible asset charge, vs $0.23 consensus. Co says to improve the competitiveness and efficiency of its global business, EMC also announced a restructuring program to further streamline the costs related to its Information Infrastructure business, which does not include VMware. EMC expects the program to reduce costs from its 2008 annualized rate by ~$350 mln in 2009, increasing to ~$500 mln in 2010.

4:19PM Bed Bath & Beyond beats by $0.01, reports revs in-line; guides Q4 EPS below consensus (BBBY) 25.55 -0.45 : Reports Q3 (Nov) earnings of $0.34 per share, $0.01 better than the First Call consensus of $0.33; revenues fell 0.6% year/year to $1.78 bln vs the $1.79 bln consensus. Co issues downside guidance for Q4, sees EPS of $0.40-0.46 vs. $0.49 consensus. Comparable store sales in the fiscal third quarter of 2008 decreased by approximately 5.6%, compared with an increase of approximately 0.8% in last year's fiscal third quarter.

4:11PM Ruby Tuesday beats by $0.09, misses on revs; guides FY09 EPS above consensus (RT) 1.49 -0.15 : Reports Q2 (Nov) loss of $0.02 per share, excluding $0.71 restructuring charge, $0.09 better than the First Call consensus of ($0.11); revenues fell 9.7% year/year to $289.8 mln vs the $299.7 mln consensus. Co issues upside guidance for FY09, sees EPS of $0.30-0.40, excluding $0.85 in charges for restructuring and goodwill, vs. $0.28 consensus. Co sees FY09 same-restaurant sales are expected to decline 9% to 10% for the year.

4:10PM WD-40 Company beats by $0.05, beats on revs; guides Q2 EPS below consensus, revs below consensus; lowers FY09 revs below consensus (WDFC)26.92 -1.02 : Reports Q1 (Nov) earnings of $0.46 per share, $0.05 better than the First Call consensus of $0.41; revenues rose 5.6% year/year to $83.6 mln vs the $82.4 mln consensus. Co issues downside guidance for Q2, sees EPS of $0.23-0.28 vs. $0.48 consensus; sees Q2 revs of $69-73 mln vs. $82.25 mln consensus. Co lowers FY09 revs guidance to $305-315 mln vs. $329.51 mln consensus, down from $323-343 mln.

4:06PM Immucor beats by $0.03, beats on revs; guides FY09 EPS in-line, revs in-line (BLUD) : Reports Q2 (Nov) earnings of $0.24 per share, $0.03 better than the First Call consensus of $0.21; revenues rose 17.9% year/year to $73 mln vs the $71.1 mln consensus. Co issues in-line guidance for FY09 - raises EPS guidance to $0.97-1.02 vs. $0.98 consensus and vs prior guidance of $0.94-0.98; reaffirms FY09 rev guidance of $292-300 mln vs. $297.24 mln consensus.

4:01PM Hot Topic reports same store sales of +4.3% vs. +1.9% Briefing.com consensus; co sees Q4 EPS of $0.30-0.32 vs. $0.28 First Call Consensus (HOTT) 9.00 +0.04 : The co raises guidance based upon a mid-single-digit comp increase for the fourth quarter.

3:04PM UniFirst beats by $0.12, beats on revs (UNF) 29.41 -0.47 : As mentioned at 15:01 co reports Q1 (Nov) earnings of $0.97 per share, $0.12 better than the First Call consensus of $0.85; revenues rose 6.2% year/year to $262.6 mln vs the $256.8 mln consensus. Co stated, "Our strong first quarter was the result of a continued focus on maximizing the output of our professional sales and services organizations. In addition, we have intensified our cost control efforts throughout the co. However, we will need to be even more diligent in these areas going forward. The level of headcount reductions in our customer base has accelerated considerably through November and December and we expect that the general economic weakness will negatively impact our revenues for the balance of our fiscal year. Despite the challenging economic environment, we will continue to focus on factors within our control such as providing superior service and value to our customers."

8:02AM Supervalu beats by $0.02, reports revs in-line; lowers guidance range for FY09 (SVU) 15.09 : Reports Q3 (Nov) earnings of $0.62 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.60; revenues fell 0.4% year/year to $10.17 bln vs the $10.18 bln consensus. Co lowers guidance for FY09, sees EPS of $2.80-2.90, excluding non-recurring items, vs. $2.79 consensus, prior guidance $2.90-3.00.

7:36AM Jarden expects Q4 revs will be "slighty above" provided guidance of $1.3 bln (JAH) 12.74 : Co issues upside guidance, sees Q4 revs to be "slightly above the provided guidance of $1.3 bln vs $1.3 bln First Call consensus. In addition, based on initial submissions, the company finished the year with more than $360 mln of cash on the balance sheet. Accordingly, the company anticipates that its leverage ratio for bank purposes at December 31, 2008 will be approx 3.7 times

7:32AM Constellation Brands beats by $0.01, misses on revs; guides FY09 EPS in-line (STZ) 16.87 : Reports Q3 (Nov) earnings of $0.60 per share, excluding non-recurring items,$0.01 better than the First Call consensus of $0.59; revenues fell 5.8% year/year to $1.03 bln vs the $1.13 bln consensus. Co issues in-line guidance for FY09, sees EPS of $1.68-1.72 vs. $1.69 consensus, prior guidance $1.68-1.76.

7:02AM Family Dollar beats by $0.02, reports revs in-line; guides Q2 EPS above consensus; guides FY09 EPS in-line (FDO) 24.33 : Reports Q1 (Nov) earnings of $0.42 per share, $0.02 better than the First Call consensus of $0.40; revenues rose 4.2% year/year to $1.75 bln vs the $1.75 bln consensus. Co issues upside guidance for Q2, sees EPS of $0.48-0.52 vs. $0.47 consensus. Co issues in-line guidance for FY09, sees EPS of $1.63-1.81 vs. $1.69 consensus. Co expects FY09 net sales will increase 4% to 6% and expects comparable store sales will increase 2% to 4%.

Earnings - 3rd July 2008

4:49PM NVIDIA lowers Q2 revs below consensus; EPS and gross margins to be lower than previous guidance (NVDA) 18.03 -0.72 : Co sees Q2 revs $875-950 mln vs $1.10 bln First Call consensus. Second quarter revenue and gross margin are expected to be lower than guidance provided during its first quarter financial conference call held May 8, 2008. The estimated decrease in revenue and gross margin is due to several reasons: end-market weakness around the world, the delayed ramp of a next generation MCP, and price adjustments of our GPU products to respond to competitive products. Separately, NVIDIA plans to take a one-time charge from $150 million to $200 million against cost of revenue for the second quarter to cover anticipated warranty, repair, return, replacement and other costs and expenses, arising from a weak die/packaging material set in certain versions of its previous generation GPU and MCP products used in notebook systems. Certain notebook configurations with GPUs and MCPs manufactured with a certain die/packaging material set are failing in the field at higher than normal rates. No conference call will be held in conjunction with this business update.
4:46PM NVDA lowers financial outlook for Q2 and plans to take one-time charge for certain notebook field failures :
4:42PM NVIDIA discloses $150-200 mln charge related to weak die/packaging material in certain versions of previous generation MCP and GPU products (NVDA) 18.03 -0.72 : From filing: On July 2, 2008, NVIDIA Corporation stated that it would take a $150-200 mln charge against cost of revenue to cover anticipated customer warranty, repair, return, replacement and other consequential costs and expenses arising from a weak die/packaging material set in certain versions of our previous generation MCP and GPU products used in notebook systems. All newly manufactured products and all products currently shipping in volume have a different and more robust material set. The previous generation MCP and GPU products that are impacted were included in a number of notebook products that were shipped and sold in significant quantities. Certain notebook configurations of these MCP and GPU products are failing in the field at higher than normal rates. While we have not been able to determine a root cause for these failures, testing suggests a weak material set of die/package combination, system thermal management designs, and customer use patterns are contributing factors. We have developed and have made available for download a software driver to cause the system fan to begin operation at the powering up of the system and reduce the thermal stress on these chips. We have also recommended to our customers that they consider changing the thermal management of the MCP and GPU products in their notebook system designs. We intend to fully support our customers in their repair and replacement of these impacted MCP and GPU products that fail. We have begun discussions with our supply chain regarding reimbursement to us for some or all of the costs we have incurred and may incur in the future relating to the weak material set. We will also seek to access our insurance coverage. We continue to not see any abnormal failure rates in any systems using NVIDIA products other than certain notebook configurations. However, we are continuing to test and otherwise investigate other products. There can be no assurance that we will not discover defects in other MCP or GPU products. (Stock is halted)

4:02PM WD-40 Company beats by $0.02, misses on revs; guides FY08 EPS below consensus, reaffirms FY08 revs guidance (WDFC) 26.96 -0.97 : Reports Q3 (May) earnings of $0.49 per share, $0.02 better than the First Call consensus of $0.47; revenues rose 5.8% year/year to $82.1 mln vs the $83.1 mln consensus. Co issues guidance for FY08, sees EPS of $1.78-1.85, compared to previous guidance of $1.80-1.90, vs. $1.86 consensus; sees FY08 revs of $320-332 mln vs. $325.09 mln consensus. "Our cost of goods have been impacted by the general increases in commodity prices, particularly the sharp increases in oil and steel. We are working hard to minimize the impact of these cost increases on our gross margin through a combination of price increases, innovation and cost reduction strategies around the globe."

8:03AM Avis Budget says Q2 has turned out to be significantly more challenging operating environment than expected; expects 2008 earnings below 2007 results (CAR) 7.29 : Co comments on events and trends impacting the vehicle services operating climate and financial performance. "While our cost-saving efforts related to our Performance Excellence initiative are accelerating as planned, the second quarter has turned out to be a significantly more challenging operating environment than expected. As with our entire industry, we are confronting rising fuel costs, weaker-than-expected enplanements, lower commercial travel volumes and lower time and mileage rates per day. As a result, our second quarter results will be below last year's (Note co reported Q2 2007 EPS of $0.24 on revs of $1.5 bln and First Call consensus for Q2 2008 EPS is $0.20 on revs of $1.58 bln). We believe that vehicle rental demand in the summer months may outpace supply, as we and others in the industry have trimmed peak fleet levels. This should result in favorable pricing comparisons and our advance reservations would support that view. But the recently announced capacity reductions by the airline industry are expected to contribute to a more difficult fourth quarter operating environment. Given these dynamics, we expect that full-year earnings will be below our 2007 results. In particular, while it is difficult in the current environment to accurately forecast our future results, we currently estimate that our 2008 EBITDA will be ~$350 mln and our 2008 pretax income will be ~$140 mln, excluding any unusual items."

7:33AM Isle of Capri beats by $0.06, misses on revs (ISLE) 4.45 : Reports Q4 (Apr) loss of $0.06 per share, excluding non-recurring items, $0.06 better than the First Call consensus of ($0.12); revenues rose 17.7% year/year to $298.3 mln vs the $301.8 mln consensus. "Through the strategic planning process, the Company identified several capital projects which we will seek to implement over the next 18 to 24 months and beyond, aimed at enhancing the experience of our customers and consistent with a brand strategy that is designed to clearly define the experience that will be delivered by each brand. This will enable us to manage the expectations of our customers, employees and the investment community, and will align our operating strategy with the needs of our customers in each market. We believe that these internal projects offer us the highest potential uses of the free cash flow that we expect to generate in the intermediate term, as we look to improve our properties and also begin to de-lever our Company."

7:06AM Aladdin Knowledge Systems issues downside Q2, Y08 guidance (ALDN) 13.26 : Co issues downside guidance for Q2 (Jun), sees EPS of approx $0.01 vs. $0.24 First Call consensus; sees Q2 (Jun) revs of $26-26.5 mln vs. $30.29 mln consensus. Co issues downside guidance for FY08 (Dec), sees EPS of $0.36-0.44, excluding non-recurring items, vs. $1.13 consensus; sees FY08 (Dec) revs of $112-120 mln vs. $125.84 mln consensus. "Our preliminary second quarter revenues fell short of our expectations primarily due to a weaker global economy as well as several anticipated customer orders slipping from the second quarter, which we expect to recognize in future periods. Including the effect of lower top line revenue for the quarter, our bottom line earnings per share were also impacted by a further acceleration of the unfavorable exchange rate between the strengthening Israeli shekel against the U.S. dollar, as well as higher expenses associated with ongoing merger and acquisition activity."

7:06AM AgFeed Industries expects to report favorable 2nd quarter financial results (FEED) 13.89 : Co announces that it expects to report favorable 2nd quarter financial results before the August 14 reporting deadline. During the 2nd quarter ended June 30, 2008, AgFeed sold a record number of hogs. The co experienced significant revenues and earnings in a continued, favorable market environment in China. The co believes that lowered overall production costs due to greater operating efficiency resulted in expanded profit margins in both of their two synergistic business lines -premix animal feed and hog production. "We believe that our 2nd quarter results will reflect management execution of our financial projections and growth strategies. We successfully integrated recent hog farm acquisitions. Our significantly expanded economies of scale should more than offset small increases in certain raw materials costs. AgFeed is in the process of enlarging our sow population in order to further increase hog production. With a strong balance sheet, AgFeed intends to continue to acquire additional producing hog farms. We expect to report a strong 2nd quarter."

7:04AM DTE Energy raises its 2008 operating earnings guidance for the Power & Industrial Projects segment to $25-$35 mln, and maintaines its 2008 operating earnings guidance of $2.80 to $3.20 (DTE) 42.82 : Co announces it will conduct a conference call for the investment community on Wednesday, July 2, to provide a midyear business update. DTE Energy will also provide an update on its non-utility businesses. Strong market conditions and continued successful development of the company's Barnett Shale acreage could create opportunities to sell acreage in some areas by year-end 2008. As a result, DTE Energy is raising its 2008 operating earnings guidance for the Power & Industrial Projects segment to $25-$35 mln, and is initiating a 2009 early earnings outlook for this segment of $-$50 mln. Overall, DTE Energy is maintaining its 2008 operating earnings guidance of $2.80-$3.20 (consensus $3.05), since higher Power & Industrial Projects earnings are expected to be offset by higher shares outstanding as the co no longer expects to buy back additional stock in 2008.

7:03AM Family Dollar beats by $0.06, reports revs in-line; guides Q4 EPS above consensus (FDO) 20.29 : Reports Q3 (May) earnings of $0.46 per share, $0.06 better than the First Call consensus of $0.40; revenues rose 2.9% year/year to $1.7 bln vs the $1.7 bln consensus. Co reports Q3 comparable store sales +0.1%. Co issues upside guidance for Q4, sees EPS of $0.30-0.35 vs. $0.29 consensus, seeing consumables continuing to drive comparable store sales increases. Co sees Q4 comparable store sales +4-6%.

6:12AM UnitedHealth issues downside EPS guidance for Q208 and FY08 (UNH) 25.63 : Co issues downside guidance for Q2 (Jun), sees EPS of $0.64-0.66 vs. $0.81 First Call consensus. Co issues downside guidance for FY08 (Dec), sees EPS of $2.95-3.05 vs. $3.52 consensus. Co expects FY08 revenue in the $81 bln range, with adjusted earnings from operations of approx $6.5 bln and cash flows from operations approaching $5 bln, prior to consideration of cash payments for litigation settlements, for which the timing for a portion of the payment is uncertain. "During the second quarter, our risk-based businesses produced a lower level of gross margin than expected, and we also experienced a continuation of the pressures we saw in the first quarter" stated Stephen J. Hemsley, chief executive officer. "We are continuing to take the aggressive specific steps necessary to improve our operating performance, as well as to better position our organization for sustained future growth. We believe the initiatives we have underway will yield these results."