Earnings - 16th June 2009

4:06PM Adobe Systems reports EPS in-line, beats on revs; guides Q3 EPS in-line (ADBE) 28.17 -0.65 : Reports Q2 (May) earnings of $0.35 per share, in-line with the First Call consensus of $0.35; revenues fell 20.5% year/year to $704.7 mln vs the $694.8 mln consensus. Co issues in-line guidance for Q3, sees EPS of $0.30-0.37 vs. $0.33 consensus.

9:31AM Life Partners Holdings sees Q1 EPS of $0.53 vs $0.54 single analyst est (LPHI)17.22 +0.38 : Co issues downside guidance for Q1 (May), sees EPS of $0.53 vs. $0.54 single analyst est; sees Q1 (May) revs of $27.4 mln vs. $29.50 mln single analyst est. Co says "We are continuing to see growth within the life settlement industry and, as a leader in this industry, we are continuing to grow as well. As the financial markets remain turbulent, we expect the interest in life settlements to continue. This is because the gains from life settlements come from the inherent value in these policies and not from market appreciation..."

9:08AM Nucor guides Q2 loss slightly better than consensus (NUE) 45.75 : Co issues guidance for Q2 (Jun), sees EPS of ($0.65)-($0.55) vs. ($0.69) First Call consensus. Co said, "Order entry has improved in recent weeks. Nevertheless, the economic outlook remains very uncertain in light of the continuing severe structural challenges facing the U.S. and global economies. We believe this period of economic and steel industry distress will present unusually attractive growth opportunities for Nucor."

9:03AM STEC Inc raises guidance above consensus for Q2 (STEC) 18.02 : Co raises guidance for Q2 (Jun), sees EPS of $0.32-0.36 vs. $0.21 First Call consensus, prior guidance $0.20-0.22; sees Q2 (Jun) revs of $82-84 mln vs. $69.05 mln consensus, prior guidance $68-70 mln. The increased Non-GAAP diluted earnings per share and revenue guidance are primarily the result of increases in the Company's ZeusIOPS sales which now are estimated to exceed $55 million during the second quarter of 2009. The Company had previously estimated revenue from ZeusIOPS SSDs to surpass $65 million during the first half of 2009. With this increase in revenue, the Company now expects ZeusIOPS SSD sales to exceed $80 million during the first half of 2009. (Stock is halted.)

8:35AM Providence Service Corp expects Q2 EPS of at least $0.36 vs $0.38 First Call consensus (PRSC) 9.78 : Co says, "We continued to see operating results strengthen in April and May. The payer environment continues to stabilize, Medicaid enrollment is increasing, and the benefits of recent cost cutting programs continued to enhance our results in the second quarter."

8:07AM Best Buy beats by $0.08, reports revs in-line; comparable store sales -6.2%; reaffirms FY10 EPS guidance (BBY) 38.66 : Reports Q1 (May) earnings of $0.42 per share, ex items, $0.08 better than the First Call consensus of $0.34; revenues rose 12.3% year/year to $10.1 bln vs the $10.13 bln consensus. Co reports -6.2% comparable store sales for Q1. The company noted that while traffic trends showed less volatility in the fiscal quarter, domestic comparable store sales declines were highest during the month of May as the company faced difficult comparisons versus the impact of government stimulus checks issued in the prior year. The company had previously indicated that it anticipates comparable store sales declines to be greater during the fiscal first half of the year than the second half. The company said it believes its domestic segment market share gains accelerated in the quarter, growing nearly 200 basis points for the three months ending April 30, 2009. These better-than-expected market share gains were led by notebook computers, flat-panel televisions, digital imaging and mobile phones. Market share gains accelerated in March and April as the company realized benefits from changes in the competitive environment as well as from transitions to new product models accomplished earlier than its competition. Co reaffirms guidance for FY10, sees EPS of $2.50-2.90 vs. $2.79 consensus.

7:05AM Smithfield Foods beats by $0.05, misses on revs (SFD) 11.18 : Reports Q4 (Apr) loss of $0.55 per share, $0.05 better than the First Call consensus of ($0.60); revenues fell 0.6% year/year to $2.85 bln vs the $3.06 bln consensus. Co said, "We are constantly evaluating options associated with pushing off near term maturities, seeking permanent covenant relief and reducing our overall debt levels. Toward that end, I am pleased to report that we are continuing discussions regarding refinancing with various lenders, well in advance of current maturities. In addition, we have made significant progress on improving our balance sheet, reducing debt and increasing liquidity... As we move into fiscal 2010, our highest priority is on continuing the restructuring of the Pork Group, continuing to reduce debt, improving liquidity and strengthening the balance sheet... We believe that the A(H1N1) virus had only a short-term effect on U.S. fresh pork demand, which hurt our business last month".

7:04AM FactSet beats by $0.01, reports revs in-line; guides Q4 EPS above consensus, revs in-line (FDS) 50.92 : Reports Q3 (May) earnings of $0.73 per share, excluding an income tax benefit, $0.01 better than the First Call consensus of $0.72; revenues rose 4.7% year/year to $154.4 mln vs the $155.2 mln consensus. Co issues mixed guidance for Q4, sees EPS of $0.73-0.75 vs. $0.72 consensus; sees Q4 revs of $152-157 mln vs. $155.45 mln consensus. Co's Q3 operating margins rose to 34.5%.

Earnings - 20th April 2009

6:16PM Boston Scientific beats by $0.07, reports revs in-line; guides Q2 EPS above consensus, revs in-line; guides FY09 EPS above consensus, revs in-line (BSX) 8.69 -0.33 : Reports Q1 (Mar) earnings of $0.19 per share, excluding non-recurring items, $0.07 better than the First Call consensus of $0.12; revenues fell 1.8% year/year to $2.01 bln vs the $2.02 bln consensus. Co issues upside EPS guidance for Q2, sees EPS of $0.16-0.21 vs. $0.14 consensus; sees Q2 revs of $1.96-2.08 bln vs. $2.05 bln consensus. Co issues upside EPS guidance for FY09, sees EPS of $0.80-0.90 vs. $0.58 consensus; sees FY09 revs of $8.0-8.5 bln vs. $8.16 bln consensus.

5:02PM Mid-America Aptmt sees Q1 FFO of $0.99-1.03 vs $0.90 First Call consensus (MAA) 32.72 -3.23 : The co announces that it expects its first quarter 2009 FFO to exceed its prior guidance. Based on preliminary results, Mid-America expects to report FFO between $30.1 million and $31.5 million, representing a range of $0.99 to $1.03 per diluted share/unit, for the first quarter of 2009. This compares to Mid-America's FFO guidance of $0.87 to $0.97 per diluted share/unit. Net income available to common shareholders is expected to be between $7.4 million and $8.7 million, representing a range of $0.26 to $0.31 per diluted share for the same period. Simon Wadsworth, Chief Financial Officer, said, "Same-store property operating performance was better than our forecast based on solid occupancy and lower than expected expenses. Interest expense was also less than forecast because of the very favorable rate environment. While our first quarter operating results were better than we expected, the continued weakness in both the economy and the employment market as we enter the busy summer leasing season suggests the need for caution in forecasting the balance of the year."

4:35PM Texas Instruments beats by $0.04, beats on revs; guides Q2 in-line (TXN) 17.32 -0.65 : Reports Q1 (Mar) earnings of $0.01 per share, $0.04 better than the First Call consensus of ($0.03) (consensus includes restructuring charges); revenues fell 36.2% year/year to $2.09 bln vs the $1.9 bln consensus. Co reports Q1 gross margin of 38.6% vs 39.29% consensus. Co issues in-line guidance for Q2, sees EPS of 0.01-0.15, includes restructuring charges, vs. $0.02 consensus; sees Q2 revs of 1.95-2.40 vs. $1.94 bln consensus. Co said, "Demand for our products has begun to stabilize after sharp drops in the past two quarters. Many customers have increased orders for TI products as they have begun to slow down their inventory reductions. However, we remain sensitive to continuing weakness in the global economy, and we have yet to see signs of a broad-based recovery in our business. In this environment, we will keep our operations flexible so that we can respond quickly to any shifts in demand, whether up or down... We reduced our own inventory by $277 million, and at the same time worked with distributors to reduce channel inventory by $132 million. Our inventory reductions are essentially complete, and we expect to moderately increase production levels in our factories during the second quarter".

4:24PM Zions Bancorp reports Q1 (Mar) results (ZION) : Reports Q1 (Mar) earnings of $0.39 per share, may not be comparable to the First Call consensus of ($1.77). Net loan charge-offs of $151.7 mln compared to $179.7 mln in Q4... Provision for loan loss reserves of $297.6 mln compared to $285.2 mln in Q4... Net interest margin of 3.93% compared to 4.20% in Q4; spread between loan yields and deposit rates remained essentially unchanged q/q; drop driven primarily by an increase in liquidity position accompanied by a significant decrease in yields on short-term investments, and by the increase in nonaccrual loans... Impairment and valuation losses on securities of $249 mln, of which $182 million related to purchases of AAA and AA-rated securities from Lockhart that were downgraded.... Extended $3.8 bln of credit, of which $1.9 bln were new loans to credit-worthy individuals and businesses... Nonperforming assets were $1,770.2 million at March 31, 2009 ($1,663.2 million excluding FDIC-supported assets) compared to $1,140.5 mln in Q4; increase related mainly to commercial real estate loans primarily in Nevada, Arizona and Texas and to commercial and industrial loans primarily in Utah; NPA excluding FDIC-supported assets to net loans and leases and other real estate owned was 4.00%, compared to 2.71% in Q4.... Net loan and lease charge-offs for Q1 were $151.7 million or 1.47%, this compares with $179.7 million or 1.72% for Q4... provision for loan losses was $297.6 mln for Q1 compared to $285.2 million for Q4. The provision for Q1 was 2.88%... allowance for loan losses as a percentage of net loans and leases excluding FDIC-supported assets was 2.03%, compared to 1.65% in Q4... tangible common equity ratio was 5.26%, compared to 5.89% in Q4; tangible equity ratio was 8.28%, compared to 8.91% in Q4... Tier 1 risk-based capital and total risk-based capital were $5,204 million and $7,374 million compared to $5,269 million and $7,386 million at December 31, 2008, respectively. Estimated ratios at March 31, 2009 for Tier 1 risk-based capital and total risk-based capital were 9.33% and 13.23% compared to 10.22% and 14.32% at December 31, 2008, respectively.

4:16PM IBM beats by $0.04, misses on revs; reaffirms 2009 guidance, ahead of pace for 2010 roadmap (IBM) 100.43 -0.84 : Reports Q1 (Mar) earnings of $1.70 per share, $0.04 better than the First Call consensus of $1.66; revenues fell 11.4% year/year to $21.71 bln vs the $22.51 bln consensus. Reports Q1 gross margin 43.4% vs 42.4% consensus. IBM reaffirms prior 2009 EPS guidance for "at least $9.20", consensus is for $9.03. IBM says ahead of pace for 2010 roadmap of $10.00-11.00; consensus is for $9.78. Co said revs were impacted by strong U.S. dollar, down 11% YoY, down 4% adjusting for currency. "IBM continued to perform well in a very difficult economic environment. This was due to our long-term strategic focus: shifting into software and services, divesting of commodity businesses, and creating solutions that help clients reduce cost and conserve capital. At the same time we have a disciplined approach to cost and expense management giving us a strong financial position." IBM's tax rate in the first-quarter 2009 was 26.5% compared with 27.5% in 1Q08, a decline of 1.0 point. IBM ended the first quarter of 2009 with $12.3 bln of cash on hand and generated free cash flow of $1.0 bln, up $450 mln year over year, excluding Global Financing receivables. The balance sheet remains strong, and the company is well positioned to take advantage of opportunities.

4:11PM Badger Meter beats by $0.09, misses on revs (BMI) 30.81 -1.99 : Reports Q1 (Mar) earnings of $0.47 per share, $0.09 better than the First Call consensus of $0.38; revenues fell 4.5% year/year to $65.3 mln vs the $66.3 mln consensus. Co said, "Our ability to achieve record first quarter earnings and earnings per share on lower sales reflects the impact of ongoing cost reduction initiatives, favorable copper costs and the strength of the dollar, compared to the first quarter of last year. Our gross profit margin increased to 40.1% for the first quarter of 2009, compared to 35.8% in the first quarter of 2008".

4:04PM Canadian Natl Rail beats by C$0.03, beats on revs (CNI) 39.43 -2.33 : Reports Q1 (Mar) earnings of C$0.64 per share, excluding non-recurring items, C$0.03 better than the First Call consensus of C$0.61; revenues fell 3.5% year/year to C$1.86 bln vs the C$1.82 bln consensus.

4:02PM Stryker reports EPS in-line, misses on revs; guides FY09 EPS in-line (SYK) 37.42 -0.52 : Reports Q1 (Mar) earnings of $0.71 per share, in-line with the First Call consensus of $0.71; revenues fell 2.0% year/year to $1.6 bln vs the $1.63 bln consensus. Co issues lower but in-line guidance for FY09, sees EPS of $2.90-3.10 vs. $3.07 consensus. As a result of the continued weaker demand for certain MedSurg Equipment products as well as consideration of slowing elective procedures for certain Orthopaedic Implant products, the Company is reducing its guidance for 2009.

8:36AM Providence Service Corp sees Q1 EPS of at least $0.35 vs. $0.25 First Call consensus; sees revs of $180-185 mln vs. $179.69 mln consensus (PRSC) 8.47 : Co issues upside guidance for Q1 (Mar), sees EPS of at least $0.35 vs. $0.25 First Call consensus; sees Q1 (Mar) revs of $180-185 mln vs. $179.69 mln consensus. On March 27, 2009, the co had estimated diluted earnings per share of at least $0.25 and rev of between approximately $170 mln and $180 mln for 1Q09. As previously stated, guidance for the 1Q09 includes approximately $1.5 mln in costs and expenses related to the amended credit agreement, including arrangement, legal, accounting and other expenses, as well as approximately $300,000 in legal and other fees related to the now abandoned consent solicitation.

8:02AM Lubrizol guides EPS above consensus for Q1 (LZ) 39.03 : Co issues upside guidance for Q1 (Mar), sees EPS of $1.06, ex items vs. $0.87 First Call consensus.

7:16AM Halliburton beats by $0.03, misses on revs (HAL) 18.78 : Reports Q1 (Mar) earnings of $0.44 per share, $0.03 better than the First Call consensus of $0.41. "During the first quarter, we experienced significant volume reduction and margin compression due to the steep downturn in North America drilling activity. The first quarter brought unprecedented declines in the rig count and prolonged weakness to the commodity markets. These industry-wide declines have been exacerbated by restrictions to some of our customers' access to capital and the decrease in global demand for oil and natural gas."

7:15AM Bank of America reports results above consensus for Q1 (BAC) 10.60 : After preferred dividends, including $402 mln paid to the U.S. government, diluted earnings per share were $0.44 per share, may not compare to the First Call consensus of $0.04; revenues rose 111.7% year/year to $36 bln vs the $27.13 bln consensus. Co reports Pretax, Pre-Provision Income of $19 bln. Co said, The Merrill Lynch integration is on track and expected to meet targeted cost savings. The Countrywide transition is on track. Cost savings from the acquisition are ahead of schedule. Merrill Lynch contributed $3.7 bln to net income, excluding certain merger costs, on strong capital markets revenue. Countrywide also added to net income as mortgage lending and refinancing volume increased. Credit quality deteriorated further across all lines of business as housing prices continued to fall and the economic environment weakened. Consumers are under significant stress from rising unemployment and underemployment levels. These conditions led to higher losses in almost all consumer portfolios. Declining home values, reduced spending by consumers and businesses and continued turmoil in the financial markets negatively impacted the commercial portfolio. Commercial losses increased from the prior quarter driven by higher broad-based losses in the non-homebuilder portion of the real estate portfolio within Global Banking and the small business portfolio within Global Card Services. The provision for credit losses of $13.4 bln rose from $8.5 bln in the fourth quarter and included a $6.4 bln net addition to the allowance for loan and lease losses. Reserves were added across most consumer portfolios reflecting increasing economic stress on consumers. Reserves were also increased on commercial portfolios. Nonperforming assets were $25.7 bln compared with $18.2 bln at December 31, 2008 and $7.8 bln at March 31, 2008, reflecting the continued deterioration in portfolios tied to housing. The provision for credit losses increased to $3.4 bln driven by economic and housing market weakness particularly in regions experiencing higher unemployment and falling home prices.

7:09AM Eaton beats by $0.03, misses on revs; guides Q2 EPS below consensus, assumes revs below consensus; guides FY09 EPS below consensus (ETN) 44.75 : Reports Q1 (Mar) loss of $0.22 per share, excluding integration charges, $0.03 better than the First Call consensus of ($0.25); revenues fell 19.5% year/year to $2.81 bln vs the $3.06 bln consensus. Co issues downside guidance for Q2, sees EPS of $0.25, excluding non-recurring items, vs. $1.06 consensus; assumes Q2 revs of $3.0-3.1 bln vs. $3.5 bln consensus. Co issues downside guidance for FY09, sees EPS of $2.50-3.00, excluding non-recurring items, vs. $3.44 consensus. CEO Cutler comments, "Given the uncertain end market demand, it is very difficult to provide guidance for the second quarter. Assuming our sales in the second quarter total between $3.0 bln and $3.1 bln, coupled with the additional charges we expect in the quarter, we anticipate net income per share for Q209 to be approximately $0.15 and operating earnings per share, which exclude charges to integrate our recent acquisitions, to be approximately $0.25. As a result of our lower market forecast for 2009, we are lowering our full-year guidance to net income per share of between $2.10 and $2.60 and operating earnings per share of between $2.50 and $3.00. Our second half 2009 and full year 2010 results will be strengthened by the savings from the resource adjustment actions taken during the first half of 2009."

7:03AM Weatherford misses by $0.02, reports revs in-line (WFT) 14.75 : Reports Q1 (Mar) earnings of $0.27 per share, excluding non-recurring items, $0.02 worse than the First Call consensus of $0.29, mainly due to a sharp drop off in customer activity in North America; revenues rose 2.7% year/year to $2.26 bln vs the $2.26 bln consensus.

6:37AM Eli Lilly beats by $0.21, reports revs in-line; guides FY09 EPS in-line (LLY) 33.75 : Reports Q1 (Mar) earnings of $1.20 per share, excluding non-recurring items, $0.21 better than the First Call consensus of $0.99; revenues rose 5.0% year/year to $5.05 bln vs the $5.05 bln consensus. Co issues in-line guidance for FY09, sees EPS of $4.00-4.25, excluding non-recurring items, vs. $4.14 consensus. There were no significant items affecting net income in the first quarter of 2009; however, the reported EPS for the first quarter of 2008 were favorably affected by significant items netting to $.05 per share. To reflect the impact of the ImClone acquisition as if the acquisition occurred in January 1, 2008, Q108 pro forma EPS have been reduced by $.04 per share

Earnings - March 30th 2009

6:10PM Ingersoll Rand lowers Q1 and FY09 guidance below consensus; $1.0 bln in new financings; reduces quarterly dividend to $0.07 per share (IR) 13.98 -0.97 : Colowers Q1 revs guidance to $2.9 bln $3.15 bln First Call consensus, down from $3.1-3.2 bln; lowers Q1 EPS to be at the low end of its previously forecasted range of $(0.15) to breakeven vs $(0.02) consensus. Co lowers FY09 EPS ~$0.45 below the bottom end of the previous guidance range of $1.85-2.25, which equates to ~$1.40 vs $1.78 consensus; lowers revs to $13.6 bln vs $14.5 bln consensus. Co announced a series of actions designed to strengthen its financial flexibility and enhance its credit profile. The co announced that IR Global Holding Company Limited, a wholly-owned subsidiary, intends to offer, subject to market and other conditions, a benchmark-sized amount of senior notes. In addition it will offer $300 mln in aggregate principal amount of exchangeable senior notes due 2012, exchangeable into cash and shares of the company's Class A common shares, if any. IR intends to grant the underwriters an option to purchase up to an additional $45 mln aggregate principal amount of exchangeable senior notes to cover over-allotments, if any. In addition, the co has arranged an expansion of a 364-day trade receivables financing facility to provide an additional $200 mln of financing over current levels and expects agreement execution by April 1, 2009. Co says, "We expect to meet our debt-reduction targets for 2009 as we continue to focus on generating earnings, aggressively manage working capital, control capital expenditures and reduce dividend payments. We are currently assessing our forecast for the full-year based on updated market expectations and available contingency actions."

5:31PM TBS International beats by $0.43, beats on revs (TBSI) 6.49 -1.09 : Reports Q4 (Dec) earnings of $1.15 per share, $0.43 better than the First Call consensus of $0.72; revenues rose 22.2% year/year to $139.8 mln vs the $89.5 mln consensus. Revenues, earnings and cash flows for the shipping industry are under significant pressure and are expected to suffer during 2009.

8:31AM LoopNet reaffirms Q1 financial guidance; sees EPS of $0.11-0.12 vs $0.09 consensus (LOOP) 6.11 : Co reaffirmed existing guidance for revenue, adjusted EBITDA, and non-GAAP net income, for the quarter ending March 31, 2009. As outlined on February 11, 2009, the co expects rev to be in the range of $19.7 to $20.0 mln vs $19.6 consensus, adjusted EBITDA to be in the range of $7.5 to $7.8 mln, and non-GAAP EPS to be in the range of $0.11 to $0.12 per diluted share vs $0.09 consensus, assuming an effective tax rate of approximately 41% to 42%.

1:35AM Providence Service Corp reports Q4 (Dec) results, beats on revs; guides Q1 EPS above consensus, revs in-line (PRSC) 5.39 : Reports Q4 (Dec) loss of $0.02 per share, includes items and may not be comparable to the First Call consensus of $0.09; revenues rose 80.3% year/year to $178 mln vs the $166.7 mln consensus. Co issues mixed guidance for Q1, sees EPS of at least $0.25, excluding non-recurring items, vs. $0.19 consensus; sees Q1 revs of $170.0-180.0 mln vs. $176.17 mln consensus. CEO comments, "In December, we began to see signs of volume improvements and January and February were extraordinarily strong months for us. Additionally, the cost cutting programs implemented last fall are starting to see real traction so margins are improving as well. Based on continued strength seen in March, we have confidence in our ability to report at least $0.25 in diluted earnings per share in the first quarter, even after an estimated $0.08 in one-time expenses."

Earnings - 6th Aug 2008

4:21PM Emulex beats by $0.01, misses on revs; guides Q1 EPS below consensus, revs below consensus; announces $100 mln share buyback (ELX) 11.96 +0.27 : Reports Q4 (Jun) earnings of $0.22 per share, $0.01 better than the First Call consensus of $0.21. Co issues downside guidance for Q1, sees EPS of $0.18-0.20 vs. $0.22 consensus; sees Q1 revs of $108-111 mln vs. $116.30 mln consensus. "In early August, the Board of Directors approved approximately $40 million of share repurchases in the first quarter of fiscal 2009, which is the remaining amount available under the existing 2006 Share Repurchase Plan. In addition, the Board also authorized a new plan of $100 million of share repurchases."

4:21PM Ntelos Holdings reports Q2 earnings, misses on revs, raises FY08 EBITDA guidance (NTLS) 24.15 -0.12 : Reports Q2 (Jun) earnings of $0.46 per share, including $9.5 mln gain on interest rate swap, may not compare to the First Call consensus of $0.22; revenues rose 5.7% year/year to $131 mln vs the $132.5 mln consensus. The company is increasing its 2008 guidance for consolidated adjusted EBITDA to now be between $224-$228 mln, from the range of $216-$221 mln previously provided.

4:18PM World Fuel Svcs beats by $0.22, beats on revs (INT) 25.15 -0.80 : Reports Q2 (Jun) earnings of $0.71 per share, $0.22 better than the First Call consensus of $0.49; revenues rose 72.7% year/year to $5.65 bln vs the $4.54 bln consensus.

4:16PM Allion Healthcare beats by $0.02, beats on revs, guides Q3 revs above consensus (ALLI) 5.35 -0.16 : Reports Q2 (Jun) earnings of $0.11 per share, $0.02 better than the First Call consensus of $0.09; revenues rose 38.8% year/year to $86.4 mln vs the $82.5 mln consensus. For Q3, co expects revenue of $86-88 mln vs. $83.5 mln consensus; co expects Q3 EPS of $0.10-0.11 vs consensus of $0.10.

4:16PM PharMerica beats by $0.05, reports revs in-line; guides FY08 EPS in-line, revs in-line (PMC) 23.17 -0.62 : Reports Q2 (Jun) earnings of $0.22 per share, $0.05 better than the First Call consensus of $0.17; revenues rose 180.4% year/year to $486.3 mln vs the $483.1 mln consensus. Co issues in-line guidance for FY08, sees EPS of $0.74-0.83 vs. $0.80 consensus; sees FY08 revs of $1.945-1.965 bln vs. $1.95 bln consensus. The fiscal 2008 earnings guidance above does not consider any integration, merger related costs or other charges the Corporation may incur. The integration, merger related costs and other charges are expected to exceed $15.0 million for fiscal year 2008.

4:12PM CDC Corp beats by $0.03, beats on revs (CHINA) 3.05 +0.15 : Reports Q2 (Jun) earnings of $0.04 per share, $0.03 better than the First Call consensus of $0.01; revenues rose 10.2% year/year to $111 mln vs the $103.6 mln consensus. Total revenue for CDC Games during Q2 was $10.8 mln. This represents an increase of 24% from 1Q08, and was the second consecutive quarter of sequential-quarter growth for CDC Games. Co states, "...Our cash balance remains very strong with non-GAAP cash and cash equivalents equal to $233 mln, and we have continued to generate cash from operations. We believe that our stock is undervalued as indicated by our continued commitment to the company's stock buyback program, as well as my personal purchases."

4:11PM Fuel Systems Solutions beats by $0.02, beats on revs; guides FY08 revs below consensus (FSYS) 41.56 -0.63 : Reports Q2 (Jun) earnings of $0.29 per share, including impairment charges, $0.02 better than the First Call consensus of $0.27; revenues rose 49.8% year/year to $98.3 mln vs the $93 mln consensus. Co issues downside guidance for FY08, sees FY08 revs of $350 vs. $354.90 mln consensus. Co increasing its gross profit margin to approximately 27% and operating margin to approximately 12%."

4:10PM EnerNOC beats by $0.03, beats handily on revs; guides FY08 revs in-line (ENOC) 14.14 +0.06 : Reports Q2 (Jun) loss of $0.54 per share, $0.03 better than the First Call consensus of ($0.57); revenues rose 97.1% year/year to $23.7 mln vs the $19.4 mln consensus. Co issues in-line guidance for FY08, sees FY08 revs of $101-107 mln vs. $103.0 mln consensus. Co continues to expect to generate positive cash flow from operations in 2H09 and that 2010 will be its first full year of profitability.

4:09PM California Pizza reports EPS in-line, revs in-line; guides FY08 EPS in-line (CPKI) 14.01 -0.39 : Reports Q2 (Jun) earnings of $0.26 per share as pre-announced on 7/09/2008, in-line with the First Call consensus of $0.26; revenues rose 11.4% year/year to $176.6 mln as pre-announced on 7/09/2008 vs the $176.8 mln consensus. Co raised their guidance for FY08, sees EPS of $0.65-0.70 up from $0.59-0.65 vs. $0.70 consensus.Co sees comparable restaurant sales of negative 1% to 0%, the opening 12 full service restaurants, and the Opening nine international full service franchise restaurants.

4:08PM The Knot misses by $0.02, misses on revs; lowers FY08 rev guidance below consensus (KNOT) 8.84 +0.10 : Reports Q2 (Jun) earnings of $0.07 per share, $0.02 worse than the First Call consensus of $0.09; revenues rose 0.7% year/year to $28.7 mln vs the $31.2 mln consensus. Co lowers guidance for FY08, sees FY08 revs up 9-11%, or roughly $107.6-109.5 mln vs. $111.45 mln consensus. "The second quarter proved to be challenging on a number of fronts. Given the weak economic environment and recent revenue results, we're taking a conservative stance and lowering our guidance for percentage revenue growth for 2008 from mid-teens to 9-11%.... We've made considerable progress toward completing our platform investments and upgrades. We look forward to successfully concluding this investment cycle, and we expect that the changes we're implementing today will support sustained long-term growth and profitability for The Knot in the years to come."

4:08PM Deckers Outdoor beats by $0.15, beats on revs; guides Q3 EPS below consensus, revs in-line; raises FY08 guidance (DECK) 115.16 +3.18 : Reports Q2 (Jun) earnings of $0.39 per share, excluding non-recurring items, $0.15 better than the First Call consensus of $0.24; revenues rose 72.9% year/year to $91.1 mln vs the $78.6 mln consensus. Co issues mixed guidance for Q3, sees EPS growth of 12% (which calc to ~$1.65 vs. $2.00 consensus); sees Q3 revs growth of 34% (which calc to ~$173.37 mln vs. $171.79 mln consensus). Co raises guidance for FY08, sees EPS growth of ~34%, up from 27% (which calc to ~$6.78 vs. $6.50 consensus); sees FY08 revs growth of 43%, up from 31% (which calc to ~$641.97 mln vs. $599.15 mln consensus).

4:07PM Sapient beats by $0.03, beats on revs (SAPE) 7.07 -0.01 : Reports Q2 (Jun) earnings of $0.09 per share, $0.03 better than the First Call consensus of $0.06; revenues rose 27.9% year/year to $170.3 mln vs the $158.4 mln consensus.

7:07PM Providence Service Corp beats by $0.01, reports revs in-line; lowers FY08 EPS below consensus, revs below consensus (PRSC) 11.87 +0.10 : Reports Q2 (Jun) earnings of $0.27 per share, $0.01 better than the First Call consensus of $0.26; revenues rose 177.7% year/year to $173 mln vs the $171.8 mln consensus. Co lowers guidance for FY08, sees EPS of $1.00-1.01 vs. $1.04 consensus, down from $1.45-1.50; lowers FY08 revs to $650 mln vs. $657.03 mln consensus, down from $673 mln. Upside to this guidance could come from delayed new business procurements that could be worth up to approximately $100 million in revenue annually, possible payer rate adjustments, potential increased business and/or retroactive rate increases. However in the current economic environment it is uncertain if any of the above will occur in 2008.

6:23PM Republic Airways beats by $0.10, beats on revs (RJET) 9.29 -0.22 : Reports Q2 (Jun) earnings of $0.64 per share, excluding non-recurring items, $0.10 better than the First Call consensus of $0.54; revenues rose 22.2% year/year to $391.4 mln vs the $368.2 mln consensus.

5:37PM American Intl misses by $1.14 (AIG) 29.09 -0.80 : Reports Q2 (Jun) loss of $0.51 per share, excluding non-recurring items, $1.14 worse than the First Call consensus of $0.63. Included in the second quarter 2008 net loss and adjusted net loss was a pre-tax charge of approximately $5.56 billion ($3.62 billion after tax) for a net unrealized market valuation loss related to the AIG Financial Products Corp. (AIGFP) super senior credit default swap portfolio. In addition, the second quarter of 2008 included a pre-tax net loss of $518 mln ($337 mln after tax) for a credit valuation adjustment on AIGFP's assets and liabilities in accordance with FAS 157 and FAS 159. Co says, The continuation of the weak U.S. housing market and disruption in the credit markets, as well as global equity market volatility, had a substantial adverse effect on AIG's results in the second quarter... Our second quarter results were adversely affected by the severe conditions in the housing and credit markets and a very difficult investment environment. These results do not reflect the earnings power and potential of AIG's businesses and it is clear that we have a lot of work to do to restore AIG's profitability to where it should be. We are conducting a comprehensive review of all AIG's businesses with the objectives of improving results, reducing AIG's risk profile and protecting our capital base. We are examining every business, as well as the assumptions underlying how we do business in the markets where we have a presence. We are considering all options. Our goals are straightforward - to determine the optimal portfolio of businesses for AIG, sharpen our risk management and capital allocation processes, reduce expenses and continue to strengthen our accounting and reporting infrastructure.

5:05PM China Digital TV beats by $0.01, beats on revs; guides Q3 revs below consensus as orders shift into Q4 (STV) 12.30 +0.95 : Reports Q2 (Jun) earnings of $0.20 per share, $0.01 better than the First Call consensus of $0.19; net revenue rose 74.2% year/year to $19.4 mln vs the $18.8 mln consensus. Co issues downside guidance for Q3, sees Q3 net revenue of $15.5-16.5 mln vs. $21.1 mln consensus. Co issues in-line guidance for FY08, sees FY08 revs of $80-83 mln vs. $82.7 mln consensus. Co says that in May, a massive earthquake hit Sichuan province in southwestern China causing certain network operators to focus on recovery efforts and postpone planned network upgrades. Another macro issue affecting Q3 is the 2008 Beijing Olympic Games. The Company has found a great number of operators have decided to wait until after the Games to make any technological changes to their network systems, ensuring that all existing systems are functioning properly during the Olympic Games. These operators will delay placing smart card orders. Both of these one-time events will impact Q3 results. Co expects many of the orders deferred in Q3 will be made up in Q4. Therefore, for the full year 2008, the co maintains the forecast of smart card shipment volume at 11 mln.

5:03PM 51job misses by $0.04, misses on revs; guides Q3 EPS below consensus, revs below consensus (JOBS) 15.12 +0.62 : Reports Q2 (Jun) earnings of $0.10 per share, $0.04 worse than the First Call consensus of $0.14; revenues were $31.9 mln vs the $33.8 mln consensus. Co issues downside guidance for Q3, sees EPS of $0.11-0.14 vs. $0.15 consensus; sees Q3 revs of $29.9-31.3 mln vs. $35.19 mln consensus. "Despite this difficult market environment, we continue to view 2008 as a year of investment and will remain aggressive in executing our strategic initiatives of new product development and brand building. We manage our business for the long term and will not sacrifice future growth for short-term results. We strongly believe these investments will enable us to extend our market leadership position in China and position us for higher growth and profitability when economic conditions improve."

5:01PM Sina beats by $0.03, beats on revs; guides Q3 revs above consensus (SINA) : Reports Q2 (Jun) earnings of $0.43 per share, $0.03 better than the First Call consensus of $0.40; revenues rose 52.7% year/year to $91.3 mln vs the $89.5 mln consensus. Co issues upside guidance for Q3, sees Q3 revs of $100-104 mln vs. $98.30 mln consensus. "... Our online advertising business in China, in particular, continues to be robust, growing 59% year over year, and was a major driving force in allowing us to achieve a net income growth of 74% year over year... 'We expect SINA's advertising momentum to further accelerate in the third quarter, as we are prepared to provide an unprecedented online media coverage of the Beijing Olympic Games.''

5:01PM Medical Staffing misses by $0.02, misses on revs (MRN) 3.14 +0.15 : Reports Q2 (Jun) earnings of $0.03 per share, excluding non-recurring items, $0.02 worse than the First Call consensus of $0.05; revenues rose 52.1% year/year to $143 mln vs the $147.1 mln consensus.