Earnings - 3rd March 2009

4:05PM Masimo beats by $0.07, beats on revs; guides FY09 revs in-line (MASI) 23.00 +0.65 : Reports Q4 (Dec) earnings of $0.24 per share, excluding non-recurring items, $0.07 better than the First Call consensus of $0.17; revenues rose 19.9% year/year to $83.1 mln vs the $80.4 mln consensus. Co issues guidance for FY09, sees EPS of $0.83-0.87, including a reduction in y/y royalty payments, may not be comparable to $0.81 consensus; sees FY09 revs of $352-361 mln vs. $357.32 mln consensus.

4:02PM Netezza beats by $0.05, beats on revs (NZ) 5.80 +0.04 : Reports Q4 (Jan) earnings of $0.09 per share, excluding non-recurring items, $0.05 better than the First Call consensus of $0.04; revenues rose 28.1% year/year to $50.6 mln vs the $49.8 mln consensus. "We believe that we have positioned the company for substantial growth when the external macro conditions improve. However, while our very near term visibility remains good, we are not in a position to comment on the year's outlook, given the macro economic uncertainty that is evident today in the marketplace."

4:02PM Wilson Greatbatch beats by $0.13, beats on revs; guides FY09 revs in-line (GB) 17.56 -0.47 : Reports Q4 (Dec) earnings of $0.50 per share, excluding non-recurring items, $0.13 better than the First Call consensus of $0.37; revenues rose 73.7% year/year to $146.6 mln vs the $132.2 mln consensus. Co issues in-line guidance for FY09, sees FY09 revs of $550-600 mln vs. $571.35 mln consensus.

9:38AM ReneSola sees Q4 revs $157-159 mln vs $153.63 mln First Call consensus and sees FY09 revs $650-700 mln vs $759.09 mln First Call consensus (SOL) 2.47 +0.26 : Co estimates Q4 2008 net revenues in the range of $157-159 mln and production output of ~112 megawatts (MW). For the fourth quarter 2008, co expects to record write-downs of ~$130-$140 mln against the net realizable value of inventories as a result of the rapid decrease in the market price and value of feedstock such as polysilicon and scrap silicon materials, work in progress materials and finished solar wafers. As a result of the write-downs, co expects to report a net loss in the range of $125-$130 mln for the quarter. Co also sees FY09 revs of $650-700 mln vs $759.09 mln First Call consensus... "We have witnessed significant downward pressure on wafer ASPs and gross margin since late 2008 as industry demand has been negatively impacted by the broader repercussions of the financial crisis and seasonality... The price recalibrations witnessed from the fourth quarter of 2008 have resulted in margin compression and inventory write-downs for many participants in the industry. However, the affordability, competitiveness and popularity of solar energy should rise exponentially as solar generated electricity nears grid parity. Despite recent challenges, we remain confident in the mid- to long-term prospects of the industry and believe that ReneSola is well positioned to ride out the storm through our continual focus on cost reduction, prudent expansion in line with market demand, solid cash position, and significant pre-sold output for the year."

7:04AM Trina Solar beats by $0.01, beats on revs (TSL) 5.96 : Reports Q4 (Dec) loss of $0.03 per share, $0.01 better than the First Call consensus of ($0.04); revenues rose 113.3% year/year to $216.3 mln vs the $201.3 mln consensus. While the co typically provides a range of guidance for future performance, the current global economic and financial climate makes such predictions difficult. For the first quarter of 2009, the co expects to ship between 50 MW to 55 MW of PV modules. The co believes gross margin for the first quarter will likely be between 15% and 17%. For the full year of 2009 the co expects total PV module shipments between 350 MW to 400 MW, representing an increase of 74% to 99% from 2008.

7:03AM Seaspan beats by $0.02, beats on revs (SSW) 7.75 : Reports Q4 (Dec) earnings of $0.31 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.29; revenues rose 14.0% year/year to $62.7 mln vs the $61.3 mln consensus.

7:03AM AutoZone beats by $0.18, beats on revs (AZO) 140.03 : Reports Q2 (Feb) earnings of $2.03 per share, $0.18 better than the First Call consensus of $1.85; revenues rose 8.1% year/year to $1.45 bln vs the $1.38 bln consensus. Co said, "During these challenging economic times, we believe our merchandise and service offerings provide a compelling shopping experience for both our do-it-yourself and professional customers. We remain committed to growing our business through a relentless focus on customer service, continual refinement of our product offerings and ongoing improvements to grow our commercial sales, all while managing our expenses appropriately. At the end of the second quarter, our balance sheet was in excellent condition, and we remain committed to our disciplined approach of growing operating earnings while utilizing our capital effectively".

5:16AM Superior Well Services beats by $0.01, beats on revs (SWSI) 4.65 : Reports Q4 (Dec) earnings of $0.48 per share, $0.01 better than the First Call consensus of $0.47; revenues rose 70.3% year/year to $161.7 mln vs the $140.5 mln consensus.

1:15AM Petroleum Development beats by $0.19, beats on revenue (PETD) 11.01 : Reports Q4 (Jan) earnings of $0.76 per share, excludes items, $0.19 better than the First Call consensus of $0.57; revenues increased 105% year/year to $195.41 mln vs the $140.4 mln consensus. Q408 production increased 11% to 11.3 Bcfe compared to Q308 production of 10.2 Bcfe.

12:53AM First Ind. Rlty reports Q4 (Dec) results, beats on revs; guides FY09 FFO above consensus (FR) 2.10 : Reports Q4 (Dec) funds from operations of $0.52 per share, may not be comparable to the First Call consensus of ($0.17); revenues rose 44.3% year/year to $145.4 mln vs the $83.8 mln consensus. Under the co's prior definition of funds from operations (FFO), First Industrial's fourth quarter FFO was $(0.89) per share/unit on a diluted basis, compared to $1.22 per share/unit last year. Co issues upside guidance for FY09, sees FFO of $1.34-1.44, excluding non-recurring items, vs. $1.20 consensus.

Comments- FR, Debt laiden, however, the FFO is still positive and stock is wayyy too oversold. At somepoint, REITs will be a great short-sqeeze trade. Keep watching. 

Earnings - 7th Aug 2008 (1)

7:06AM Aecom Tech beats by $0.02, beats on revs; raises Y08 guidance (ACM) 28.82 : Reports Q3 (Jun) earnings of $0.37 per share, $0.02 better than the First Call consensus of $0.35; revenues rose 20.0% year/year to $1.32 bln vs the $1.24 bln consensus. Co raises guidance for FY08, sees EPS of $1.34-1.37, compared to previous guidance of $1.30-1.34, vs. $1.35 consensus.

7:05AM Linn Energy beats by $0.13, beats on revs (LINE) 19.50 : Reports Q2 (Jun) earnings of $0.70 per share, $0.13 better than the First Call consensus of $0.57; revenues rose 45.3% year/year to $255.5 mln vs the $230.1 mln consensus. The co also announced it took advantage of the increase in crude oil prices by locking in these gains in the form of put strike increases. The Company increased the weighted average put strike price from $72.13 to $120.00 per barrel in 2009 and from $70.56 to $110.00 per barrel in 2010 for a total cost of $60.6 mln

7:05AM Sally Beauty beats by $0.03, beats on revs (SBH) 7.62 : Reports Q3 (Jun) earnings of $0.13 per share, excluding non-recurring items, $0.03 better than the First Call consensus of $0.10; revenues rose 6.5% year/year to $676.3 mln vs the $669.2 mln consensus.

7:02AM Western Refining misses by $0.04 (WNR) 7.28 : Reports Q2 (Jun) earnings of $0.24 per share, excluding non-cash charge, $0.04 worse than the First Call consensus of $0.28.

7:01AM King Pharms misses by $0.02, reports revs in-line (KG) 12.25 : Reports Q2 (Jun) earnings of $0.30 per share, excluding non-recurring items, $0.02 worse than the First Call consensus of $0.32; revenues fell 26.9% year/year to $397 mln vs the $397.3 mln consensus.

6:40AM Fluor awarded two Valero hydrocracker projects totaling $1.2 bln (FLR) 76.70 : Co announces it signed contracts with Valero Energy to provide engineering, procurement, construction and construction management services for its Unified Hydrocracker Program projects at its St. Charles, La., and Port Arthur, Texas refineries. The contracts for the HCU Program expansion projects totaling $1.2 billion were booked in the second quarter of 2008.

6:34AM Warner Music Group beats by $0.12, beats on revs (WMG) 8.44 : Reports Q3 (Jun) loss of $0.06 per share, $0.12 better than the First Call consensus of ($0.18); revenues rose 5.5% year/year to $848 mln vs the $769 mln consensus.

6:33AM Carrizo Oil & Gas beats by $0.01, beats on revs (CRZO) 47.14 : Reports Q2 (Jun) earnings of $0.62 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.61; revenues rose 97.0% year/year to $64.8 mln vs the $62.1 mln consensus.

6:30AM Urban Outfitters Q2 comp sales increase 13% (URBN) 32.60 : Co reports total co sales increased by 30% over the same period last year to $454.3 mln. Comparable store sales at Anthropologie, Free People and Urban Outfitters rose 7%, 10% and 19%, respectively, for a combined increase of 13%.

6:22AM Kaiser Alum misses by $0.02, misses on revs (KALU) 50.62 : Reports Q2 (Jun) earnings of $1.12 per share, $0.02 worse than the First Call consensus of $1.14; revenues rose 7.4% year/year to $413.5 mln vs the $426.7 mln consensus.

6:11AM Superior Well Services beats by $0.14, beats on revs (SWSI) 28.79 : Reports Q2 (Jun) earnings of $0.41 per share, $0.14 better than the First Call consensus of $0.27; revenues rose 41.2% year/year to $119.7 mln vs the $103 mln consensus.

6:10AM Pioneer Drilling beats by $0.09, beats on revs (PDC) 14.78 : Reports Q2 (Jun) earnings of $0.38 per share, $0.09 better than the First Call consensus of $0.29; revenues rose 34.5% year/year to $152.5 mln vs the $147 mln consensus.

6:06AM MetroPCS reports EPS in-line, revs in-line (PCS) 17.70 : Reports Q2 (Jun) earnings of $0.17 per share, excluding impairment charge, in-line with the First Call consensus of $0.17; revenues rose 23.2% year/year to $678.8 mln vs the $679.1 mln consensus. Co reports quarterly net subscriber additions of approx 184,000. Churn of 4.5% was down 30 bps y/y. For the year ending December 31, 2008, co reaffirms guidance originally provided on November 14, 2007, of net subscriber additions in the range of 1.25 mln to 1.52 mln on a consolidated basis, with 250,000 to 320,000 in the Core Markets and 1.0-1.2 mln in the Expansion Markets, which includes 75,000 to 125,000 in the Auction 66 Markets.

6:00AM Big Lots reports Q2 comparable store sales increase of 2.8% (BIG) 32.07 : Co reports Q2 retail sales for fiscal quarter ended August 2, 2008 increased 1.9% to $1,095.9 mln, compared to $1,075.4 mln for Q207. Comparable store sales for stores increased 2.8% for Q208.

5:16AM Canadian Natrl Res beats by $0.49, beats on revs (CNQ) 75.65 : Reports Q2 (Jun) earnings of $1.78 per share, excluding non-recurring items, $0.49 better than the First Call consensus of $1.29; revenues rose 62.2% year/year to $5.11 bln vs the $2.8 bln consensus.

5:09AM Portland Gen Elec beats by $0.05, beats on revs; guides FY08 EPS above consensus (POR) 23.30 : Reports Q2 (Jun) earnings of $0.63 per share, $0.05 better than the First Call consensus of $0.58; revenues rose 5.7% year/year to $425 mln vs the $419 mln consensus. Co issues upside guidance for FY08, sees EPS of $1.85-1.95 vs. $1.80 consensus.

5:08AM Medifast beats by $0.02, beats on revs (MED) 5.28 : Reports Q2 (Jun) earnings of $0.11 per share, $0.02 better than the First Call consensus of $0.09; revenues rose 25.0% year/year to $27.5 mln vs the $24 mln consensus. Management expects to be able to meet or exceed previously issued guidance for revenue growth for FY08 in the range of 8-10%; and diluted EPS growth in the range of 30-35% for the year ended December 31, 2008.

1:24AM ATP Oil & Gas misses by $0.04, misses on revs (ATPG) 27.71 : Reports Q2 (Jun) earnings of $0.86 per share, excluding non-recurring items, $0.04 worse than the First Call consensus of $0.90; revenues rose 45.1% year/year to $191.8 mln vs the $199.9 mln consensus. Oil and gas production increased 26% to 3.1 MMBoe for Q208.

12:55AM Alon USA Energy misses by $1.01, misses on revs (ALJ) 8.63 : Reports Q2 (Jun) loss of $1.27 per share, excluding non-recurring items, $1.01 worse than the First Call consensus of ($0.26); revenues rose 4.8% year/year to $1.24 bln vs the $1.8 bln consensus.

12:38AM Comp Vale Do Rio beats by $0.07, misses on revs (RIO) 26.68 : Reports Q2 (Jun) earnings of $1.02 per share, $0.07 better than the First Call consensus of $0.95; revenues rose 22.5% year/year to $10.9 bln vs the $12.14 bln consensus.

12:35AM American Railcar Industries misses by $0.08, beats on revs (ARII) 20.77 : Reports Q2 (Jun) earnings of $0.33 per share, excluding non-recurring items, $0.08 worse than the First Call consensus of $0.41; revenues fell 2.2% year/year to $204.5 mln vs the $183 mln consensus.