Earnings - 29th April 2009 (3)

6:37PM O'Reilly Auto beats by $0.07, reports revs in-line; guides Q2 EPS in-line; guides FY09 EPS above consensus (ORLY) 37.24 -1.40 : Reports Q1 (Mar) earnings of $0.47 per share, excluding non-recurring items, $0.07 better than the First Call consensus of $0.40; revenues rose 80.1% year/year to $1.16 bln vs the $1.16 bln consensus. Co issues in-line guidance for Q2, sees EPS of $0.51-0.55, excluding non-recurring items, vs. $0.52 consensus. Co issues upside guidance for FY09, sees EPS of $1.92-1.96, excluding non-recurring items, vs. $1.85 consensus.

6:12PM Kirby Corp beats by $0.05; sees Q1 EPS in-line with consensus, FY09 above (KEX) 30.50 +0.90 : Reports Q1 (Mar) earnings of $0.57 per share,  excluding a $0.50 charge, $0.05 better than the First Call consensus of $0.52; revenues fell 16.0% year/year to $277.7 mln vs the $300.5 mln consensus. Co sees Q1 EPS of $0.45-0.55 vs $0.52 consensus; sees FY09 EPS of $2.55-2.65 vs $2.50 consensus. Co's capital spending guidance range was lowered slightly to $180-190 mln, which includes ~$135 mln for the construction of 46 new tank barges and five towboats."

6:08PM ProLogis misses by $0.04 (PLD) 8.46 +0.63 : Reports Q1 (Mar) earnings of $0.66 per share, excluding non-recurring items, $0.04 worse than the First Call consensus of $0.70. "Taking into consideration additional asset sale and refinancing agreements and the remaining capital requirements related to our development pipeline, we believe we have substantially addressed our anticipated cash needs through 2012. Our swift execution of these de-leveraging initiatives enables us to further enhance our focus on operating property performance, completing and leasing properties in our development portfolio and pursuing opportunities to generate value from our land bank."

6:05PM Cliffs Natural Resources beats by $0.07, misses on revs (CLF) 21.03 +0.82 : Reports Q1 (Mar) loss of $0.07 per share, $0.07 better than the First Call consensus of ($0.14); revenues fell 6.0% year/year to $464.8 mln vs the $527.7 mln consensus. Co says,in North American, Lower expected year-over-year volume and the related reduction in leverage over fixed costs, combined with significant depreciation and amortization in the segment, are expected to result in average cost of sales per ton in 2009 of $125 to $135... in Asia/Pacific, Iron Ore 2009 sales volume is expected to be 8.0 million tonnes, with production of 8.2 million tonnes. With annual price settlements for iron ore in 2009 not yet concluded, the Company is currently unable to provide guidance on average revenue per tonne in its Asia Pacific Iron Ore business segment. Cliffs expects Asia Pacific Iron Ore costs per tonne of approximately $45 to $55... reagarding the Sonoma Coal, Cliffs has a 45% economic interest in the Sonoma Coal Project and expects total production of approximately 3.1 million tonnes for 2009, down from a previous production estimate of 3.5 million tonnes. Sonoma is expected to have sales volume of 3.3 million tonnes and an approximate 60%/40% mix between thermal and metallurgical coal, respectively. Per-tonne costs at Sonoma are expected to be $75 to $85, down from a previous expectation of $85 to $95. The decrease from previous expectations is a result of lower-than-anticipated contract mining costs and royalties.

6:01PM Cabot misses by $0.16, misses on revs (CBT) 15.12 +0.92 : Reports Q2 (Mar) loss of $0.27 per share, excluding non-recurring items, $0.16 worse than the First Call consensus of ($0.11); revenues fell 40.2% year/year to $470 mln vs the $543.5 mln consensus. Co says, "We are encouraged by the monthly volume increases in many of our key businesses. While this may be an early indication that customer de-stocking is coming to an end, we remain cautious in the near term. Having said that, we are particularly pleased with our volume improvement in China as we are well positioned there with low cost operations, new capacity coming on line and an already strong market position in that region. We are actively managing our global capacity and working with customers to meet their needs in the new environment. The restructuring of our operations is well underway and will allow us to fully utilize a more efficient global asset base."

5:32PM Owens-Illinois beats by $0.19, misses on revs (OI) 18.46 +0.53 : Reports Q1 (Mar) earnings of $0.55 per share, $0.19 better than the First Call consensus of $0.36; revenues fell 22.5% year/year to $1.52 bln vs the $1.66 bln consensus. "Challenging market conditions will likely persist over the next several quarters, resulting in lower year-over-year demand and continued temporary production curtailments. However, we expect that shipments will improve sequentially in the second quarter due to seasonally stronger demand and as inventory de-stocking pressures subside. Our strategic footprint alignment initiative and moderating cost inflation also should benefit future earnings. Overall, we expect second quarter 2009 adjusted net earnings will decline on a year-over-year basis, but will improve from first quarter 2009 results."

5:31PM California Water beats by $0.04, beats on revs (CWT) 39.91 +0.57 : Reports Q1 (Mar) earnings of $0.12 per share, $0.04 better than the First Call consensus of $0.08; revenues rose 18.8% year/year to $86.6 mln vs the $77.2 mln consensus.

5:27PM Equity Res beats by $0.02, misses on revs; guides Q2 FFO in-line (EQR) 22.58 +1.05 : Reports Q1 (Mar) funds from operations of $0.57 per share, $0.02 better than the First Call consensus of $0.55; revenues rose 2.5% year/year to $515.1 mln vs the $522.9 mln consensus. Co issues in-line guidance for Q2, sees FFO of $0.53-0.58 vs. $0.54 consensus. The second quarter 2009 guidance midpoint assumes no additional gains from debt extinguishment.

5:17PM ITC Holdings reports Q1 EPS of $0.57 vs $0.57 First Call consensus; revs rose 10% YoY to $155.9 mln vs $147.70 mln First Call consensus (ITC) 45.03 +0.94 : Co sees FY09 $2.20-2.30 vs $2.32 First Call consensus.

5:12PM Oceaneering Intl beats by $0.12, misses on revs; guides Q2 EPS below consensus; guides FY09 EPS above consensus (OII) 44.41 +2.43 : Reports Q1 (Mar) earnings of $0.80 per share, $0.12 better than the First Call consensus of $0.68; revenues fell 0.2% year/year to $435 mln vs the $461.5 mln consensus. Co issues downside guidancefor Q2, sees EPS of $0.75-0.85 vs. $0.82 consensus. Co issues upside guidance for FY09, sees EPS of $3.10-3.60 vs. $3.20 consensus. Much uncertainty remains in predicting the rate of subsea field development order flow. Given our first quarter performance and outlook for the rest of the year, we are now anticipating that our EPS in 2009 will not follow our historical quarterly pattern.

5:08PM Essex Property beats by $1.01; guides FY09 FFO below consensus (ESS)67.02 +3.61 : Reports Q1 (Mar) funds from operations of $2.50 per share, $1.01 better thanthe First Call consensus of $1.49. Co issues downside guidance for FY09, sees FFO of $5.19-5.49, excluding non-recurring items, vs. $5.64 consensus.

4:47PM Arris beats by $0.01, reports revs in-line; guides Q2 EPS above consensus, revs above consensus (ARRS) 10.11 +0.50 : Reports Q1 (Mar) earnings of $0.18 per share, $0.01 better than the First Call consensus of $0.17; revenues fell 13.3% year/year to $253.5 mln vs the $255.3 mln consensus. Co issues upside guidance for Q2, sees EPS of $0.20-$0.24 vs. $0.18 consensus; sees Q2 revs of $270-$290 mln vs. $267.64 mln consensus.

4:44PM Sequenom reports Q1 results (SQNM) 14.91 +0.53 : Co reports Q1 EPS of ($0.29) vs ($0.24) First Call consensus; revs $8.7 mln vs $11.16 mln First Call consensus. On a consolidated basis the company is expected to report a 2009 loss of between $62-67 mln, which includes approximately $12 mln in non-cash FAS 123R expenses. On a consolidated basis, the company is expected to have a cash burn of between $45-52 mln.

4:43PM General Maritime beats by $0.05, beats on revs (GMR) 8.64 +0.02 : Reports Q1 (Mar) earnings of $0.35 per share, excluding non-recurring items, $0.05 better than the First Call consensus of $0.30; revenues rose 35.9% year/year to $82.9 mln vs the $81.8 mln consensus. The average daily time charter equivalent, or TCE, rates obtained by the co's fleet decreased by 12.0% to $30,724 per day for the three months ended March 31, 2009 compared to $34,918 for the prior year period. The co's average daily rates for vessels on spot charters decreased by 24.8% to $26,445 for the three months ended March 31, 2009 compared to $35,155 for the prior year period.

4:37PM Tetra Tech beats by $0.02, reports revs in-line; guides Q3 EPS in-line, revs below consensus; guides FY09 EPS above consensus, revs below consensus (TTEK)24.07 +1.29 : Reports Q2 (Mar) earnings of $0.27 per share, excluding non-recurring items,$0.02 better than the First Call consensus of $0.25; revenues rose 15.6% year/year to $332.2 mln vs the $329.3 mln consensus. Co issues in-line EPS guidance for Q3, sees EPS of $0.29-0.31 vs. $0.30 consensus; sees Q3 revs of $330-350 mln vs. $369.16 mln consensus. Co issues in-line EPS guidance for FY09, sees EPS of $1.12-1.17, excluding $0.05 gain, vs. $1.16 consensus; sees FY09 revs of $1.35-1.40 bln vs. $1.41 bln consensus.

4:34PM CBL & Assoc beats by $0.07, beats on revs; guides FY09 FFO above consensus (CBL) 7.76 +0.88 : Reports Q1 (Mar) funds from operations of $0.78 per share, excluding non-cash impairment charge, $0.07 better than the First Call consensus of $0.71; revenues fell 3.5% year/year to $271.1 mln vs the $266.7 mln consensus. Co issues upside guidance for FY09, sees FFO of $2.95-3.09 vs. $2.94 consensus. Same Center NOI declined 1.2% for the quarter ended March 31, 2009, from the prior-year period. Stabilized mall occupancy was 89.1% as of March 31, 2009.

4:33PM Genco Shipping & Trading beats by $0.06, reports revs in-line; co's cash dividends and share repurchases will be suspended (GNK) 17.52 +0.88 : Reports Q1 (Mar) earnings of $1.32 per share, $0.06 better than the First Call consensus of $1.26; revenues rose 5.4% year/year to $96.7 mln vs the $96 mln consensus. The average daily time charter equivalent, or TCE, rates obtained by the Company's fleet decreased 7.5% to $33,203 per day for the three months ended March 31, 2009 compared to $35,891 for the three months ended March 31, 2008. On January 26, 2009, the co announced that it had entered into an agreement with DnB NOR Bank ASA and Bank of Scotland PLC as the lead arrangers to amend its $1.4 bln credit facility. Under terms of the amended ten-year $1.4 bln facility, the collateral maintenance requirement is waived until such time that GNK is in a position to satisfy the requirement as well as continue to comply with all other covenants and certain other conditions previously announced. GNK continues to be able to borrow the undrawn portion of the loan during the waiver period. Amounts borrowed under the amended facility began to reduce on March 31, 2009 at $12.5 million per quarter and will bear interest at LIBOR plus 2.00%. The co also announced that, under the terms of the amended credit facility, its cash dividends and its share repurchases will be suspended, effective immediately. GNK will be able to reinstate its cash dividends and share repurchases once the Company can represent that it is in a position to again satisfy the collateral maintenance covenant. The amendment to the credit facility places no further restrictions on uses of the Company's cash.

Earnings - 25th Feb 2009

6:47PM Goodrich Petroleum beats by $0.06, misses on revs (GDP) 25.51 -0.22 : Reports Q4 (Dec) loss of $0.01 per share, $0.06 better than the First Call consensus of ($0.07); revenues rose 35.7% year/year to $44.1 mln vs the $49.9 mln consensus.

5:39PM United Rentals beats by $0.21, reports revs in-line; suspends guidance (URI)4.19 -0.33 : Reports Q4 (Dec) earnings of $0.72 per share, excluding $15.41 in non-recurring charges and $0.44 in gains, $0.21 better than the First Call consensus of $0.51; revenues fell 14.5% year/year to $791 mln vs the $788.2 mln consensus. The co also announced that it will suspend issuing formal guidance due to continued uncertainty in the macro-economy and the impact of the credit environment on the co's customers.

5:35PM California Water misses by $0.04, misses on revs (CWT) 40.88 +0.13 : Reports Q4 (Dec) earnings of $0.35 per share, $0.04 worse than the First Call consensus of $0.39; revenues rose 16.5% year/year to $100.1 mln vs the $101.7 mln consensus.

5:33PM Flowserve beats by $0.14, misses on revs; guides FY09 EPS above consensus (FLS) 46.12 -1.42 : Reports Q4 (Dec) earnings of $2.03 per share, $0.14 better than the First Call consensus of $1.89; revenues rose 5.4% year/year to $1.17 bln vs the $1.26 bln consensus. Co reaffirms upside guidance for FY09, sees EPS of $7.25-8.25, excluding ~$0.50 in non-recurring items, vs. $6.96 consensus.

4:51PM Circor beats by $0.31, beats on revs; guides Q1 EPS in-line, revs below consensus (CIR) 20.74 +0.06 : Reports Q4 (Dec) earnings of $1.12 per share, excluding a pre-tax, non-cash goodwill and intangible impairment charge of $141.3 million recorded as a special charge, $0.31 better than the First Call consensus of $0.81; revenues rose 15.8% year/year to $202 mln vs the $194.9 mln consensus. Co issues mixed guidance for Q1, sees EPS of $0.56-0.68 vs. $0.65 consensus; sees Q1 revs of $170-176 mln vs. $184.45 mln consensus.

4:48PM Tenaris beats by $0.02, beats on revs (TS) 17.96 -0.98 : Reports Q4 (Dec) earnings of $1.01 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.99; revenues rose 3.9% year/year to $3.24 bln vs the $3.01 bln consensus. Co says, "We estimate that global apparent demand for OCTG in 2008 rose by around 11% in 2008 compared to 2007. This increase includes a substantial surge in inventories in the US fueled by surging Chinese imports of standard and non heat-treated products. We expect that apparent demand for OCTG will suffer a strong adjustment in 2009, reflecting an expected decline in oil and gas drilling activity and efforts to reduce inventories. Demand for premium and other high-end OCTG products should hold up better than for standard product grades as oil and gas companies maintain their investments in complex projects already underway. Demand for our large-diameter pipes for pipeline projects in South America rose during 2008 as we made deliveries to a number of pipeline projects in Brazil, Argentina and Colombia.However, sales are expected to decline in 2009 as the current order backlog is lower than last year and customers delay the implementation of new projects.Steelmaking raw material costs for our seamless pipe products and steel costs for our welded pipe products rose steeply in the first half of the year but fell even more steeply during the second half of the year as the recessionary environment had an almost immediate impact on global steelmaking activity. Pipe prices, which had risen during the second and third quarter are now declining following the correction in raw material and energy costs."

4:33PM Genco Shipping & Trading misses by $0.01, beats on revs (GNK) 11.66 -1.06 : Reports Q4 (Dec) earnings of $1.55 per share, $0.01 worse than the First Call consensus of $1.56; revenues rose 54.6% year/year to $101.6 mln vs the $100.2 mln consensus. The average daily time charter equivalent, or TCE, rates obtained by the company's fleet increased 13.4% to $35,304 per day for the three months ended December 31, 2008 compared to $31,140 for the three months ended December 31, 2007. "We estimate that one of our vessels will be drydocked in the first quarter of 2009. An additional six vessels will be drydocked in the remainder of 2009."

4:32PM USEC Inc. reports EPS in-line, misses on revs; guides FY09 revs above consensus (USU) 5.28 -0.16 : Reports Q4 (Dec) earnings of $0.16 per share, in-line with the First Call consensus of $0.16; revenues fell 30.0% year/year to $431.9 mln vs the $440.4 mln consensus. Co issues upside guidance for FY09, sees FY09 revs of $2.2-2.25 bln vs. $2.01 bln consensus. 

4:13PM Fluor beats by $0.12, beats on revs; reaffirms FY09 EPS guidance (FLR) 32.95 -2.38 : Reports Q4 (Dec) earnings of $1.04 per share, $0.12 better than the First Call consensus of $0.92; revenues rose 28.9% year/year to $6.07 bln vs the $5.81 bln consensus. Co reaffirms guidance for FY09, sees EPS of $3.90-4.20 vs. $3.76 consensus. The fourth quarter of 2008 benefited from a low tax rate, including a $12 million reduction for the capital loss resulting from the sale of the existing office facilities in the United Kingdom. Increased fourth quarter operating results were primarily due to growth in the Oil & Gas segment. While the company sees evidence of a slowdown in certain new capital investment programs, the impact to Fluor's backlog has been relatively minor.

4:13PM Salesforce.com beats by $0.04, beats on revs; guides Q1 EPS in-line, revs in-line; guides FY10 EPS above consensus, revs in-line (CRM) 28.10 +0.63 : Reports Q4 (Jan) earnings of $0.11 per share, $0.04 better than the First Call consensus of $0.07. Co issues in-line guidance for Q1, sees EPS of $0.10-0.11 vs. $0.10 consensus; sees Q1 revs of $304-305 vs. $305.48 mln consensus. Co issues mixed guidance for FY10, sees EPS of $0.54-0.55 vs. $0.51 consensus; sees FY10 revs of $1.30-1.33 bln vs. $1.33 bln consensus. "Salesforce.com is proud to be the first billion dollar cloud computing company... the company announced it has reached 55,400 customers and surpassed 1.5 million net paying subscribers."

4:08PM Perini beats by $0.03, reports revs in-line; guides FY09 EPS below consensus, revs below consensus (PCR) 16.58 -1.62 : Reports Q4 (Dec) earnings of $0.79 per share, $0.03 better than the First Call consensus of $0.76. Co issues downside guidance for FY09, sees EPS of $2.60-2.80 down from $2.80-3.00 vs. $2.95 consensus; sees FY09 revs of $5.5-6 bln down from $6-6.5 bln vs. $6.16 bln consensus. Co says "We believe that the Stimulus Package will present a number of good opportunities for our Company. We are very well positioned geographically as a financially strong and diversified building and civil infrastructure construction company."

4:06PM NuVasive misses by $0.03, beats on revs; guides Q1 EPS in-line, revs in-line; guides FY09 revs in-line (NUVA) 35.89 -0.35 : Reports Q4 (Dec) earnings of $0.10 per share, $0.03 worse than the First Call consensus of $0.13; revenues rose 59.1% year/year to $74.6 mln vs the $73.2 mln consensus. Co issues in-line guidance for Q1, sees EPS of $0.01-0.03 vs. $0.02 consensus; sees Q1 revs of $75 vs. $75.11 mln consensus. Co issuesguidance for FY09, sees EPS of $0.83-0.85, may not compare to $0.34 consensus; sees FY09 revs of $345-350 vs. $347.77 mln consensus. "The Osteocel and Progentix transactions strongly position us to compete in the $1.5 billion biologics market as we seek to grow the product line to over $100 million in the next few years. Despite uncertain economic conditions, we see 2009 as an opportunity for NuVasive to continue taking market share with the speed and creativity that we have become known for. To that end, we plan to aggressively invest in the growth of our business in 2009, including the initiation of our XLTDR clinical study, increased scientific and marketing investments in our biologics platform, continued international expansion, and the launch of fifteen new products and line extensions. We look forward to capitalizing on current market conditions to accelerate our move into the top tier of global spine companies."

4:02PM ManTech reports EPS in-line, misses on revs; guides Q1 EPS above consensus, revs in-line; guides FY09 EPS in-line, revs in-line (MANT) : Reports Q4 (Dec) earnings of $0.69 per share, in-line with the First Call consensus of $0.69; revenues rose 17.3% year/year to $494.7 mln vs the $505.8 mln consensus. Co sees Q1 EPS of $0.68-0.71 vs. $0.67 consensus; sees Q1 revs of $485-505 mln vs. $493.33 mln consensus. Co issues in-line guidance for FY09, sees EPS of $2.91-3.05 vs. $2.95 consensus; sees FY09 revs of $2.1-2.2 bln vs. $2.12 bln consensus.

8:21AM Dollar Tree beats by $0.02, reports revs in-line; guides Q1 EPS in-line, revs in-line; guides FY10 EPS in-line, revs in-line (DLTR) 36.06 : Reports Q4 (Dec) earnings of $1.15 per share, $0.02 better than the First Call consensus of $1.13; revenues rose 6.8% year/year to $1.39 bln vs the $1.39 bln consensus. Co issues in-line guidance for Q1, sees EPS of $0.49-0.54 vs. $0.52 consensus; sees Q1 revs of $1.13-1.16 bln vs. $1.14 bln consensus. Co issues in-line guidance for FY10, sees EPS of $2.55-2.75 vs. $2.72 consensus; sees FY10 revs of $4.96-5.09 vs. $4.98 bln consensus.

8:07AM Del Monte beats by $0.08, misses on revs; guides FY09 EPS above consensus (DLM) 6.55 : Reports Q3 (Jan) earnings of $0.30 per share, $0.08 better thanthe First Call consensus of $0.22; revenues rose 8.4% year/year to $942.3 mln vs the $956.3 mln consensus. Co issues upside guidance for FY09, sees EPS of $0.64-0.68 vs. $0.59 consensus, up from previous guidance of $0.58-0.62. Co sees FY09 sales up 9-11% vs previous guidance of up 8-10%; we calculate this to be a range of $3.49-3.55 bln vs $3.52 bln consensus.

7:33AM Petrohawk Energy misses by $0.07, beats on revs (HK) 17.50 : Reports Q4 (Dec) loss of $0.04 per share, $0.07 worse than the First Call consensus of $0.03; revenues rose 19.1% year/year to $270.7 mln vs the $225.9 mln consensus.

7:31AM POZEN beats by $0.11, beats on revs (POZN) 5.75 : Reports Q4 (Dec) loss of $0.14 per share, $0.11 better than the First Call consensus of ($0.25); revenues rose 125.6% year/year to $14 mln vs the $10.5 mln consensus.

6:34AM SPX Corp beats by $0.19, misses on revs (SPW) 42.27 : Reports Q4 (Dec) earnings of $2.06 per share, $0.19 better than the First Call consensus of $1.87; revenues rose 17.1% year/year to $1.51 bln vs the $1.53 bln consensus. "However, global economic conditions changed drastically in the final months of the year, and we were not immune to these events. We experienced backlog declines in the fourth quarter, and were required to record an impairment charge to the asset value of one of our businesses. The first quarter of 2009 continues to be difficult for our customers, and we are anticipating that trend will continue throughout the year."

12:10AM Sociedad Quimica y Minera de Chile reports Q408 results (SQM) 29.93 : Co anounces year/year earnings growth of 170% for Q408, reporting quarterly net income of $120.3 mln ($0.46 per ADR) compared to the 2007 figure of $44.6 mln ($0.17 per ADR). Operating income for the fourth quarter reached $150.8 mln, 151% higher than the $60.1 mln recorded for the same period of 2007. Revenues totaled $397.9 mln, an increase of approx 29.9% with respect to Q407, when revenues amounted to $306.2 mln.

12:05AM Ormat Tech beats by $0.01, beats on revs (ORA) 29.42 : Reports Q4 (Dec) earnings of $0.26 per share, $0.01 better than the First Call consensus of $0.25; revenues rose 35.2% year/year to $95.5 mln vs the $84.1 mln consensus. Commenting on the outlook for 2009, CEO Dita Bronicki said, "We expect our 2009 Electricity Segment revenues to be between $280 mln and $290 mln. We also expect an additional $9 mln of revenues from our share of electricity revenue generated by a subsidiary, which is accounted for under the equity method. With regard to our Products Segment, we expect that our 2009 revenues will be between $100 mln and $120 mln." Co expects to pay a dividend of $0.06/share in the next three quarters, compared to $0.05 per quarter in 2008.

Earnings - 30th July 2008 (2)

6:30PM Owens-Illinois beats by $0.13, reports revs in-line (OI) 48.06 +0.23 : Reports Q2 (Jun) earnings of $1.35 per share, excluding non-recurring items, $0.13 better than the First Call consensus of $1.22; revenues rose 10.7% year/year to $2.21 bln vs the $2.2 bln consensus. Co gives outlook saying, "Rising input costs and a slower economy will make the second half of 2008 a tougher operating environment for all packaging manufacturers, including O-I," said Stroucken. "In spite of this, we fully expect that 2008 will be a record year for the Company, as we will continue to be aggressive with our pricing, footprint realignment, Lean Six Sigma and productivity improvement initiatives. In this environment our operational decisions will be largely guided by our cash flow objectives for the year and beyond."

6:28PM AvalonBay beats by $0.02, beats on revs; guides Q3 FFO above consensus; guides FY08 FFO above consensus (AVB) 103.08 +0.83 : Reports Q2 (Jun) funds from operations of $1.26 per share, $0.02 better than the First Call consensus of $1.24; revenues rose 9.0% year/year to $221.8 mln vs the $213.2 mln consensus. Co issues upside guidance for Q3, sees FFO of $1.26-1.30 vs. $1.25 consensus. Co issues upside guidance for FY08, sees FFO of $5.00-5.15 vs. $4.97 consensus.

5:21PM ANDE raises guidance, sees FY08 EPS of $5.00-5.40 vs $4.61 First Call consensus :
Andersons raises FY08 guidance above consensus (ANDE) 42.16 +0.51 : ANDE raises FY08 EPS guidance to $5.00-5.40 vs $4.61 First Call consensus. The increase is primarily attributed to the Plant Nutrient Group's continuing performance trend this year.

5:17PM Circor beats by $0.10, beats on revs; guides Q3 EPS above consensus (CIR) 63.15 +2.96 : Reports Q2 (Jun) earnings of $1.08 per share, $0.10 better than the First Call consensus of $0.98; revenues rose 24.5% year/year to $206.6 mln vs the $194.2 mln consensus. Co issues upside guidance for Q3, sees EPS of $0.90-1.00, excluding non-recurring items, vs. $0.89 consensus.

5:04PM Oceaneering Intl beats by $0.03, beats on revs; guides Q3 EPS below consensus; guides FY08 EPS below consensus (OII) 67.62 +3.73 : Reports Q2 (Jun) earnings of $0.93 per share, including a $2.0 mln gain on the sale of the production barge San Jacinto, $0.03 better than the First Call consensus of $0.90; revenues rose 15.8% year/year to $500.1 mln vs the $483.5 mln consensus. Co issues downside guidance for Q3, sees EPS of $0.90-$1.00 vs. $1.02 consensus. Co issues downside guidance for FY08, sees EPS of $3.45-3.65 vs. $3.68 consensus.


5:03PM Tesoro beats by $0.09, beats on revs (TSO) 16.51 +0.73 : Reports Q2 (Jun) earnings of $0.03 per share, excluding $0.58 loss in derivative positions, and gain of $0.35 in change in accounting, $0.09 better than the First Call consensus of ($0.06); revenues rose 56.2% year/year to $8.75 bln vs the $5.91 bln consensus. Co says in comparison to last year, lower gross refining margins and higher operating costs were met with reduced refining throughput. Co notes in Q1, the company announced its goal to realize approx $750 mln to $1 bln of operating cash flow through reductions in operating costs, capital expenditures and working capital to fund short term debt reductions and the $870 mln capital program, including turnarounds. As of July 30th, there were no borrowings on the revolver and the company had a cash balance of approximately $100 million.

4:38PM SW Energy beats by $0.02, beats on revs (SWN) 35.73 +2.75 : Reports Q2 (Jun) earnings of $0.39 per share, $0.02 better than the First Call consensus of $0.37; revenues rose 123.8% year/year to $604.4 mln vs the $474.2 mln consensus. SWN has increased its production guidance for the remainder of 2008, forecasting Q3 47.0-49.0 Bcfe vs. previous guidance of 43.0-44.5; sees Q4 50.0-52.0 Bcfe vs. previous guidance of 44.5-46.0.

4:36PM Concur Tech beats by $0.07, beats on revs; guides Q4 revs in-line; guides FY08 revs in-line (CNQR) 41.59 +0.39 : Reports Q3 (Jun) earnings of $0.19 per share, excluding stock based comp and amortization, $0.07 better than the First Call consensus of $0.12; revenues rose 65.4% year/year to $54.9 mln vs the $53.5 mln consensus. Co issues guidance for Q4, sees EPS of $0.22, excludes items, may not be comparable to $0.13 consensus; sees Q4 revs of $56 mln vs. $55.45 mln consensus. Co issues guidance for FY08, sees EPS of $0.32, excludes items may not be comparable to $0.49 consensus; sees FY08 revs of $214 mln vs. $211.94 mln consensus.

4:32PM Tetra Tech beats by $0.03, beats on revs; guides Q4 EPS above consensus, revs above consensus; guides FY08 EPS above consensus, revs above consensus (TTEK) 24.18 -0.57 : Reports Q3 (Jun) earnings of $0.27 per share, $0.03 better than the First Call consensus of $0.24; revenues rose 39.7% year/year to $564.3 mln vs the $304.3 mln consensus. Co issues upside guidance for Q4, sees EPS of $0.27-0.29 vs. $0.26 consensus; sees Q4 revs of $325-345 mln vs. $316.27 mln consensus. Co issues upside guidance for FY08, sees EPS of $0.99-1.01 vs. $0.95 consensus; sees FY08 revs of $1.22-1.24 bln vs. $1.19 bln consensus.

4:24PM General Maritime beats by $0.14, beats on revs (GMR) 26.05 +0.99 : Reports Q2 (Jun) earnings of $0.69 per share, excluding non-recurring items, $0.14 better than the First Call consensus of $0.55; revenues rose 24.6% year/year to $69.3 mln vs the $64.4 mln consensus.

4:23PM Visa beats by $0.11, beats on revs; reaffirms FY08-10 rev & EPS growth outlook, raises operating margin guidance (V) 78.45 +2.48 : Reports Q3 (Jun) earnings of $0.59 per share, $0.11 better than the First Call consensus of $0.48; revenues rose 18.2% year/year to $1.61 bln vs the $1.55 bln consensus. V reaffirms FY08-10 rev growth outlook of 11-15%; raises FY08-10 op margin guidance. V reaffirms FY08-10 rev growth outlook of 11-15% and annual adjusted diluted EPS growth of 20% or greater. Raises FY08 adjusted operating margin expectation to the mid 40%'s range. Co raises its outlook for FY 2009 and 2010 to annual adjusted operating margin in the mid-to-high 40%'s range. Total processed transactions, which are based on current fiscal third quarter results on Visa's processing system, were 9.5 billion, a 13% increase over the prior year.

4:20PM FormFactor beats by $0.12, beats on revs (FORM) 16.48 +0.36 : Reports Q2 (Jun) loss of $0.34 per share, $0.12 better than the First Call consensus of ($0.46); revenues fell 54.4% year/year to $52 mln vs the $47.2 mln consensus.

4:20PM Genco Shipping & Trading beats by $0.17, beats on revs (GNK) : Reports Q2 (Jun) earnings of $1.95 per share, excluding non-recurring items, $0.17 better than the First Call consensus of $1.78; revenues rose 183.5% year/year to $104.6 mln vs the $98.4 mln consensus.

4:15PM Flowserve beats by $0.48, beats on revs; raises Y08 guidance (FLS) 134.71 +7.09 : Reports Q2 (Jun) earnings of $1.97 per share, excluding non-recurring items, $0.48 better than the First Call consensus of $1.49; revenues rose 24.4% year/year to $1.16 bln vs the $1.12 bln consensus. Co issues upside guidance for FY08, sees EPS of $7.20-7.50, compared to previous guidance of $5.90-6.20, vs. $6.31 consensus.

4:13PM Las Vegas Sands misses by $0.03, reports revs in-line (LVS) 46.16 +2.12 : Reports Q2 (Jun) earnings of $0.09 per share, excluding non-recurring items, $0.03 worse than the First Call consensus of $0.12; revenues rose 81.4% year/year to $1.11 bln vs the $1.11 bln consensus. "Our second quarter results reflect both solid operating performance in Macao and Las Vegas and the measured execution of our global growth and development strategy. In Asia, our efforts to transform Macao into Asia's premier business and leisure destination steadily march forward. The Venetian Macao, the anchor of the Cotai Strip(TM), continues to consistently deliver market-leading visitation to Macao from around the region and the world, while the natural maturation process of the property's operations is now beginning to be reflected in the property's operating results. As we make final preparations for the opening next month of the Cotai Strip's second world-class destination resort, the Four Seasons Macao, we remain focused on the fundamental goal and commitment we share with the people of Macao -- the transformation of Macao into Asia's premier business and leisure destination. We remain confident that the execution of our Cotai Strip development strategy will deliver significant economic benefits to Macao and the entire region, as well as industry-leading returns to our shareholders. In Las Vegas, despite a more challenging economic environment, the combined Venetian and Palazzo complex, the largest integrated destination resort in the world, began to mature and to realize some of the significant operating efficiencies resident in our original master plan. As the Venetian and Palazzo complex continues this maturation process, we believe it is uniquely positioned to deliver strong growth and industry-leading returns in the Las Vegas market for years to come."

4:07PM Digital River beats by $0.04, beats on revs; guides Q3 EPS above consensus, revs above consensus; guides FY08 EPS above consensus, revs above consensus (DRIV) 39.01 +0.26 : Reports Q2 (Jun) earnings of $0.37 per share, $0.04 better than the First Call consensus of $0.33; revenues rose 25.8% year/year to $98.4 mln vs the $91 mln consensus. Co issues upside guidance for Q3, sees EPS of $0.47 vs. $0.45 consensus; sees Q3 revs of $98.5 mln vs. $96.51 mln consensus. Co issues upside guidance for FY08, sees EPS of $2.00 vs. $1.90 consensus; sees FY08 revs of $410 mln vs. $401.30 mln consensus. "Our core software business continues to perform well, and our ability to translate this success into complementary verticals is paying off. We are making consistent progress extending our e-commerce services and winning new business in consumer electronics and games."

4:07PM Sequenom misses by $0.06, reports revs in-line; reaffirms FY08 revs (SQNM) 21.15 -0.56 : Reports Q2 (Jun) loss of $0.21 per share, $0.06 worse than the First Call consensus of ($0.15); revenues rose 25.5% year/year to $12.8 mln vs the $12.7 mln consensus. Co reaffirms guidance for FY08, sees FY08 revs of $50-53 mln vs. $51.79 mln consensus. Net loss for FY08 is expected to be $34-36 mln as compared to the previously announced guidance of $30-33 mln; the expected increased loss is primarily reflective of increased stock-based compensation expenses due to the recent increase in our stock price in conjunction with new employee stock option awards, as well as projected legal expenses

4:06PM First Solar beats by $0.27, beats on revs (FSLR) : Reports Q2 (Jun) earnings of $0.85 per share, $0.27 better than the First Call consensus of $0.58; revenues rose 57.2% year/year to $267 mln vs the $216.9 mln consensus.

4:05PM Itron beats by $0.20, beats on revs; guides Q3 revs in-line; raises Y08 guidance range (ITRI) 91.78 -1.20 : Reports Q2 (Jun) earnings of $1.02 per share, excluding non-recurring items, $0.20 better than the First Call consensus of $0.82; revenues rose 27.9% year/year to $514 mln vs the $478.1 mln consensus. Co issues in-line guidance for Q3, sees Q3 revs of $465-480 mln vs. $471.55 mln consensus. Co raises guidance range for FY08, sees EPS of $3.35-3.50, compared to previous guidance of $3.25-3.45, vs. $3.38 consensus; sees FY08 revs of $1.91-1.95 bln, compared to previous guidance of $1.88-1.93, vs. $1.92 bln consensus.

4:03PM ManTech beats by $0.02, beats on revs; guides Q3 EPS above consensus, revs above consensus; raises FY08 EPS above consensus, revs above consensus (MANT) 56.63 +1.30 : Reports Q2 (Jun) earnings of $0.62 per share, $0.02 better than the First Call consensus of $0.60; revenues rose 33.4% year/year to $465 mln vs the $442.8 mln consensus. Co issues upside guidance for Q3, sees EPS of $0.63-0.66 vs. $0.62 consensus; sees Q3 revs of $473-488 mln vs. $450.04 mln consensus. Co raises guidance for FY08, sees EPS of $2.46-2.53 vs. $2.44 consensus, up from $2.37-2.47; raises FY08 revs to $1.85-1.88 bln vs. $1.79 bln consensus, up from $1.74-1.80 bln.