6:04PM Cabot Oil & Gas beats by $0.03, beats on revs (COG) 28.80 +0.67 : Reports Q1 (Mar) earnings of $0.41 per share, excluding non-recurring items, $0.03 better than the First Call consensus of $0.38; revenues rose 6.5% year/year to $233.9 mln vs the $212.6 mln consensus.
5:36PM VisionChina Media misses by $0.03, misses on revs; guides Q2 revs below consensus; reaffirms FY09 revs guidance (VISN) 6.27 -0.31 : Reports Q1 (Mar) earnings of $0.09 per share, $0.03 worse than the First Call consensus of $0.12; revenues rose 100.7% year/year to $27.3 mln vs the $28.9 mln consensus. Co issues downside guidancefor Q2, sees Q2 revs of $29.2-32.2 mln vs. $34.08 mln consensus. Co reaffirms guidancefor FY09, sees FY09 revs of $141-157 mln vs. $151.79 mln consensus. Second quarter 2009 net income excluding share-based compensation expenses and amortization of intangible assets (non-GAAP) is expected to be between $6.5 mln and $9 mln. Net income in the full year 2009, excluding share-based compensation expenses and amortization of intangible assets (non-GAAP), is expected to be between $49 mln and $61 mln.
4:50PM American Commercial Lines misses by $0.06, misses on revs (ACLI) 4.23 -0.10 : Reports Q1 (Mar) loss of $0.03 per share, ex-items, $0.06 worse than the First Call consensus of $0.03; revenues fell 27.2% year/year to $196.8 mln vs the $252.4 mln consensus.
4:21PM Textron beats by $0.25, misses on revs; guides FY09 EPS below consensus, revs below consensus (TXT) 11.20 -0.19 : Reports Q1 (Mar) earnings of $0.26 per share, excluding non-recurring items, $0.25 better than the First Call consensus of $0.01; revenues fell 23.6% year/year to $2.53 bln vs the $2.78 bln consensus. Co issues downside guidancefor FY09, sees EPS of $0.45-0.75, excluding non-recurring items, vs. $0.97 consensus; sees FY09 revs of $11 bln vs. $11.8 bln consensus. "This lower earnings estimate primarily reflects lower expected demand at Cessna, and higher losses at TFC related to the current economic environment and the impact of faster liquidations. Manufacturing free cash flow is still expected to be about $400 million."
4:19PM CB&I beats by $0.06, beats on revs (CBI) 9.31 +0.08 : Reports Q1 (Mar) earnings of $0.51 per share, $0.06 better than the First Call consensus of $0.45; revenues fell 10.0% year/year to $1.3 bln vs the $1.25 bln consensus.
4:19PM V.F. Corp reports Q1 earnings, reports revs in-line; issues FY09 EPS guidance (VFC) 67.28 +1.18 : Reports Q1 (Mar) earnings of $1.01 per share, ex-items, may not compare to the First Call consensus of $0.94; revenues fell 6.6% year/year to $1.73 bln vs the $1.74 bln consensus. Co issues guidance for FY09, sees EPS of $5.50-$5.80, ex-items, vs. $5.31 consensus. Actions taken in the fourth quarter of 2008 to reduce costs by $100 mln beginning this year are on track, and we will continue to be vigilant about controlling costs across all businesses.
4:17PM Advent Software beats by $0.13, beats on revs; guides Q2 revs below consensus; guides FY09 revs in-line (ADVS) 32.36 -0.54 : Reports Q1 (Mar) earnings of $0.38 per share, excluding non-recurring items, $0.13 better than the First Call consensus of $0.25; revenues rose 18.4% year/year to $72.8 mln vs the $69 mln consensus. Co issuesdownside guidance for Q2, sees Q2 revs of $68-70 mln vs. $71.03 mln consensus. Co issues in-line guidance for FY09, sees FY09 revs of $280-290 mln vs. $289.10 mln consensus
4:11PM Panera Bread reports Q1 (Mar) results, revs slightly above consensus; reaffirms FY09 EPS guidance (PNRA) 62.93 -0.37 : Reports Q1 (Mar) earnings of $0.57 per share, including the impact of a $0.01 per diluted share charge for the write-off of smallwares related to the rollout of new china, may not compare directly to the First Call consensus of $0.57; revenues rose 5.1% year/year to $320.7 mln vs the $317.7 mln consensus. Coreaffirms guidance for FY09, sees EPS of 2.55-2.71 vs. $2.63 consensus. Comparable system-wide bakery-cafe sales increased 0.7% versus the comparable period in fiscal 2008 (0.3% in Company-owned and 1.0% in franchise-operated comparable bakery-cafes). These first quarter comparable sales results were impacted positively by approximately 0.5% from the shift of the Easter holiday from the first quarter of fiscal 2008 to the second quarter of fiscal 2009. Thus, excluding the impact of the Easter shift the Company experienced essentially flat comparable bakery-cafe sales growth for the first quarter of fiscal 2009. Similarly, net of the impact from the Easter shift, the Company and its franchisees experienced essentially flat comparable bakery-cafe sales growth in the first several weeks of the second quarter of fiscal 2009... In the first quarter of fiscal 2009, the Company generated operating margin improvement of approximately 200 basis points compared to the first quarter of fiscal 2008. This was primarily a result of the year-over-year benefits in wheat costs and franchise dough price increases implemented in fiscal 2008, the Company's continuing category management initiatives, and favorable comparisons against one-time charges in the 1Q08.
4:08PM Zoran beats by $0.16, beats on revs; guides Q2 above consensus (ZRAN) 9.10 +0.24 : Reports Q1 (Mar) loss of $0.34 per share, excluding non-recurring items, $0.16 better than the First Call consensus of ($0.50); revenues fell 37.2% year/year to $68.5 mln vs the $52.9 mln consensus. Co issues upside guidance for Q2, sees EPS of $(0.24)-(0.20), excluding non-recurring items, vs. ($0.36) consensus; sees Q2 revs of $85-90 mln vs. $64.5 mln consensus. Co says it achieved 39% sequential revenue growth in DTV, driven by increasing demand for low-to mid-range LCD TVs, where co has a leading position. Several of its largest customers have successfully expanded their presence in major US retail channels, a trend the co expects to continue to benefit from in the future. In digital cameras, co saw a strong increase in demand towards the end of the quarter, indicating that channel inventory has been substantially reduced. While consumer spending is far from previous levels and visibility into 2H09 remains limited, co is encouraged by these positive trends and is currently expecting a stronger Q2.
4:06PM Beckman Coulter beats by $0.12, misses on revs (BEC) 52.51 +1.04 : Reports Q1 (Mar) earnings of $0.71 per share, $0.12 better than the First Call consensus of $0.59; revenues fell 5.3% year/year to $691.5 mln vs the $705.6 mln consensus. "We are affirming our outlook, despite the potential for lower cash instrument sales in 2009. Solid constant currency recurring revenue gains are expected to continue with full year growth of 6% to 7%. As a result, on a constant currency basis, our 2009 full year outlook for revenue growth remains at 4% to 6%, or flat on a reported basis."
4:06PM Life Technologies beats by $0.15, beats on revs; guides FY09 EPS in-line (LIFE) 32.03 +1.22 : Reports Q1 (Mar) earnings of $0.72 per share, $0.15 better than the First Call consensus of $0.57; revenues rose 124.1% year/year to $784.9 mln vs the $749.4 mln consensus. Co issues in-line guidance for FY09, sees EPS of $2.40-$2.55 vs. $2.52 consensus.
4:05PM Cerner beats by $0.01, misses on revs; guides Q2 EPS in-line, revs in-line; guides FY09 EPS in-line, revs in-line (CERN) 48.65 +0.96 : Reports Q1 (Mar) earnings of $0.52 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.51; revenues rose 1.9% year/year to $392.3 mln vs the $417.9 mln consensus. Co issuesin-line guidance for Q2, sees EPS of $0.52-0.58, excluding non-recurring items, vs. $0.56 consensus; sees Q2 revs of $415-435 mln vs. $432.90 mln consensus. Co issues in-line guidance for FY09, sees EPS of $2.40-2.50, excluding non-recurring items, vs. $2.42 consensus; sees FY09 revs of $1.75-1.80 bln vs. $1.76 bln consensus.
4:03PM Stericycle beats by $0.01, reports revs in-line (SRCL) 49.51 +0.67 : Reports Q1 (Mar) earnings of $0.47 per share, $0.01 better than the First Call consensus of $0.46; revenues rose 8.8% year/year to $277.1 mln vs the $277.7 mln consensus.
4:03PM Monolithic Power beats by $0.03, beats on revs; guides Q2 revs above consensus (MPWR) 18.02 +0.30 : Reports Q1 (Mar) earnings of $0.06 per share, excluding non-recurring items, $0.03 better than the First Call consensus of $0.03; revenues fell 17.2% year/year to $29.3 mln vs the $26.8 mln consensus. Co issues upside guidance for Q2, sees Q2 revs of $36-40 mln vs. $29.2 mln consensus. Co says in the second half of the quarter, it saw increased turns activities. As a result, Q1 revenue was better than expected. Co is cautiously optimistic about Q2.
9:04AM Franklin Resources misses by $0.14, beats on revs (BEN) 60.56 : Reports Q2 (Mar) earnings of $0.48 per share, $0.14 worse than the First Call consensus of $0.62; revenues fell 39.3% year/year to $912.3 mln vs the $898.2 mln consensus. Total assets under management by the company's subsidiaries were $391.1 bln at March 31, 2009, as compared to $416.2 bln at December 31, 2008 and $591.1 bln at March 31, 2008. Simple monthly average assets under management during the quarter ended March 31, 2009 were $396.6 bln, as compared to $438.7 bln in the prior quarter and $610.2 bln in the same quarter a year ago. Equity assets comprised 44% of total assets under management at March 31, 2009, as compared to 47% of total assets under management at December 31, 2008 and 55% of total assets under management at March 31, 2008. Fixed-income assets comprised 35% of total assets under management at March 31, 2009, as compared to 32% of total assets under management at December 31, 2008 and 25% of total assets under management at March 31, 2008. Hybrid assets accounted for 19% of total assets under management at March 31, 2009, December 31, 2008 and March 31, 2008. Net new flows for the quarter ended March 31, 2009 were $(5.5) bln, as compared to $(18.2) bln for the prior quarter and $(6.1) bln for the same quarter a year ago.
8:11AM AGCO Corp beats by $0.13, reports revs in-line; guides FY09 EPS below consensus, revs below consensus (AG) 24.25 : Reports Q1 (Mar) earnings of $0.36 per share, $0.13 better than the First Call consensus of $0.23; revenues fell 11.6% year/year to $1.58 bln vs the $1.57 bln consensus. Co issues downside guidance for FY09, sees EPS of 2.00-2.50 vs. $2.76 consensus; sees FY09 revs of 6.7-7.0 bln vs. $7.34 bln consensus. AGCO's earnings are expected to be impacted by lower sales and production volumes and by increased engineering expenses for new product development and Tier 4 emission requirements. The largest impacts from production cuts and working capital reduction initiatives are expected to be incurred in the second quarter. As a result, AGCO's earnings per share in the second quarter are expected to be significantly lower than reported for the second quarter of 2008.
8:03AM Hecla Mining beats by $0.08, beats on revs (HL) 2.60 : Reports Q1 (Mar) earnings of $0.02 per share, $0.08 better than the First Call consensus of ($0.06); revenues rose 45.9% year/year to $54.7 mln vs the $48 mln consensus. Co says, "We had a much improved first quarter with all operational benchmarks showing significant improvement compared with the second half of 2008. More tons of higher-grade material coupled with lower costs drove the results combined with some positive one-time items. We are clearly on track to hit our production and cost targets reversing the trend of rising costs experienced in 2008. Our outlook is very positive given the solid operational performance, stronger balance sheet, higher prices, and the ongoing exploration success at the Lucky Friday."
8:02AM Northwest Pipe beats by $0.05, beats on revs (NWPX) 32.40 : Reports Q1 (Mar) earnings of $0.28 per share, $0.05 better than the First Call consensus of $0.23; revenues fell 13.4% year/year to $81.4 mln vs the $79.4 mln consensus. Co states, "Looking ahead, we expect another challenging quarter before seeing improvement in the second half of the year. "Our backlog grew to $205 million during the quarter and, while this is clearly a positive, we have a greater than usual amount of backlog that is not ready for current production. The backlog is also uneven across our plants. Some have substantial backlogs and others are relatively light. Accordingly, we expect our Water Transmission production will be slow in the second quarter, similar to the first quarter. We expect another good bookings quarter which should lead to a higher backlog at June 30th and stronger production schedules over the last half of the year."
8:01AM PACCAR beats by $0.02, misses on revs (PCAR) 34.16 : Reports Q1 (Mar) earnings of $0.07 per share, $0.02 better than the First Call consensus of $0.05; revenues fell 52.2% year/year to $1.73 bln vs the $1.95 bln consensus.
7:54AM FPL Group beats by $0.13, beats on revs; guides FY09 EPS above consensus; guides FY10 EPS above consensus (FPL) 51.28 : Reports Q1 (Mar) earnings of $0.90 per share, excluding non-recurring items, $0.13 better than the First Call consensus of $0.77; revenues rose 7.9% year/year to $3.71 bln vs the $3.57 bln consensus. Co issues upside guidance for FY09, sees EPS of $4.20-4.40 vs. $4.06 consensus. Co issues upside guidance for FY10, sees EPS of $4.65-5.05 vs. $4.56 consensus. Co says, "FPL Group had a very good first quarter, with adjusted earnings per share rising 18 percent year over year, largely as a result of strong results from our NextEra Energy Resources subsidiary. At Florida Power & Light, we announced proposed investments that will significantly improve the electrical system for our customers - specifically, a large-scale deployment of 'smart grid' technology in Miami, and a new natural gas pipeline to provide increased energy security. As pleased as we are with FPL Group's current results, we are even more optimistic about the future. The reason is simple: We believe that the policy climate in the nation is trending in a direction highly favorable to power companies with low emissions profiles and significant clean-energy fleets."
