Earnings - 13th May 2009

6:22PM KongZhong beats by $0.04, beats on revs; guides Q2 revs above consensus (KONG) 7.22 -0.03 : Reports Q1 (Mar) earnings of $0.07 per share, $0.04 better than the First Call consensus of $0.03; revenues rose 38.0% year/year to $29.6 mln vs the $27.8 mln consensus. Co issues upside guidance for Q2, sees Q2 revs of $30.5-31.5 mln vs. $25.32 mln consensus.

5:12PM Enersys raises Q4 EPS guidance; sees FY09 EPS above consensus (ENS)17.75 -0.88 : Co raises Q4 EPS to $0.36 vs $0.29 First Call consensus, up from $0.30-0.34. These earnings were achieved in spite of a significant decline in revenue and were primarily due to the positive effects of our cost reduction activities and further reductions in commodity costs, net of pricing. Co sees FY09 EPS of $1.98 vs $1.91 consensus.

4:17PM URS beats by $0.29, beats on revs; guides FY09 EPS in-line, revs in-line (URS) 43.14 -0.61 : Reports Q1 (Mar) earnings of $0.92 per share, $0.29 better than the First Call consensus of $0.63; revenues rose 11.6% year/year to $2.52 bln vs the $2.34 bln consensus. Co issues in-line guidance for FY09, sees EPS of $2.80-2.95 vs. $2.93 consensus; sees FY09 revs of $9.5-10.0 bln vs. $9.87 bln consensus.

4:11PM Whole Foods beats by $0.06, beats on revs; guides FY09 (Sep) EPS in-line, revs in-line (WFMI) 19.99 -2.06 : Reports Q2 (Mar) earnings of $0.24 per share, excluding $0.05 in charges, $0.06 better than the First Call consensus of $0.18, revs fell 0.5% to $1.86 bln vs $1.87 bln consensus. Co issues in-line guidance for FY09 (Sep), sees EPS of 0.71-0.76, including ~$0.06 to $0.08 in estimated dilution from FTC-related legal costs and ~$0.17 in dilution from the Series A Preferred Stock. vs. $0.71 consensus; sees FY09 (Sep) revs of $8.0 bln vs. $8.04 bln consensus. As previously announced, the co is awaiting final approval of the settlement agreement reached with the FTC resolving its antitrust challenge to the co's acquisition of Wild Oats Markets. After receiving final approval by the FTC, the co expects to record a non-cash charge of up to $5.5 mln to adjust certain long-lived assets to fair value relating to the potential sale of the 13 operating stores. This is lower than the co's original estimate primarily due to non-cash asset impairment charges recorded during Q2 to adjust four of the 13 operating stores to fair value, which is determined based on long-term discounted cash flow projections.

4:07PM Jack In The Box beats by $0.07, misses on revs; guides FY09 EPS above consensus (JACK) 21.96 -1.72 : Reports Q2 (Mar) earnings of $0.51 per share, $0.07 better than the First Call consensus of $0.44; revenues rose 1.8% year/year to $578.4 mln vs the $588.5 mln consensus. Co issues upside guidance for FY09, sees EPS of $2.08-2.20 vs. $2.05 consensus. Co sees Flat to 2 percent increase in same-store sales at Jack in the Box company restaurants; 1 to 3 percent decrease in same-store sales at Qdoba system restaurants.

4:03PM American Science & Engineering misses by $0.12, misses on revs (ASEI)62.75 -0.64 : Reports Q4 (Mar) earnings of $0.92 per share, $0.12 worse than the First Call consensus of $1.04; revenues rose 36.4% year/year to $57.3 mln vs the $67.6 mln consensus.

7:45AM Tidewater beats by $0.15, misses on revs (TDW) 46.26 : Reports Q4 (Mar) earnings of $2.13 per share, $0.15 better than the First Call consensus of $1.98; revenues rose 3.1% year/year to $341.6 mln vs the $348.7 mln consensus.

Earnings - 28th Jan 2008

4:20PM Qualcomm misses by $0.16, beats on revs; guides Q2 revs in-line; guides FY09 revs below consensus (QCOM) 36.82 +1.19 : Reports Q1 (Dec) earnings of $0.31 per share, excluding non-recurring items, $0.16 worse than the First Call consensus of $0.47; revenues rose 3.0% year/year to $2.51 bln vs the $2.42 bln consensus. Co issues in-line guidance for Q2, sees Q2 revs of $2.25-2.45 bln vs. $2.41 bln consensus. Co issuesdownside guidance for FY09, sees FY09 revs of $9.3-9.8 bln vs. $10.25 bln consensus, down from $10.2-10.8 bln previously. "Net income and diluted EPS for the quarter were adversely impacted by other-than-temporary impairments to its marketable securities portfolio... The CDMA inventory channel has contracted as we expected, and the business environment continues to remain uncertain. Reduced visibility in the marketplace makes it difficult to forecast future inventory levels or predict when a recovery will begin. As a result, while we continue to estimate healthy growth in the CDMA-device market, we have lowered our shipment estimate for calendar year 2009."

4:19PM Western Digital beats by $0.24, beats on revs (WDC) 14.40 +0.85 : Reports Q2 (Dec) earnings of $0.55 per share, excluding restructuring charges, $0.24 better than the First Call consensus of $0.31; revenues fell 17.3% year/year to $1.82 bln vs the $1.75 bln consensus. Co says, "Against a backdrop of unprecedented global economic turmoil and a rapid intra-quarter fall off in demand for hard drives, WD acted swiftly to align production and operating expenses with significantly lower-than-originally planned unit volumes... With a strong balance sheet and competitive cost structure, we plan to continue investing in next-generation product platforms and technologies during this downturn. We are focused on maintaining our leadership in technology deployment, ease-of-use features, and availability of the right products for our diversified customer base. We remain enthused about our long-term prospects as a full-line storage supplier in addressing the demands of both the commercial and consumer markets as the digitization of content continues to grow."

4:17PM Airgas beats by $0.01, reports revs in-line; guides Q4 EPS in-line (ARG) : Reports Q3 (Dec) earnings of $0.76 per share, $0.01 better than the First Call consensus of $0.75; revenues rose 7.0% year/year to $1.08 bln vs the $1.08 bln consensus. Co issues in-line guidance for Q4, sees EPS of $0.73-0.76 vs. $0.74 consensus.

4:15PM Lam Research misses by $0.04, beats on revs (LRCX) 23.89 +1.47 : Reports Q2 (Dec) loss of $0.09 per share, $0.04 worse than the First Call consensus of ($0.05); revenues fell 53.6% year/year to $283.4 mln vs the $277.5 mln consensus. "The global semiconductor industry has entered one of the most difficult periods in its history, one that is presenting severe challenges to our customers and thus severely limiting investment in wafer fab equipment."

4:12PM Sepracor beats by $0.36, beats on revs; guides FY09 revs below consensus (SEPR) 13.62 +0.12 : Reports Q4 (Dec) earnings of $0.92 per share, excluding non-recurring items, $0.36 better than the First Call consensus of $0.56; revenues rose 8.7% year/year to $369.7 mln vs the $352.7 mln consensus. Co issues guidance for FY09, sees EPS of $2.10-2.70, may not be comparable to $1.43 consensus; sees FY09 revs of $1.15-1.25 bln vs. $1.37 bln consensus. LUNESTA brand eszopiclone, indicated for the treatment of insomnia, had revenues of $161.9 mln for Q4 of 2008 compared to $149.8 mln for the same quarter in 2007.

4:08PM FormFactor misses by $0.16, beats on revs (FORM) 16.04 +0.97 : Reports Q4 (Dec) loss of $0.61 per share, $0.16 worse than the First Call consensus of ($0.45); revenues fell 66.9% year/year to $39.9 mln vs the $39.1 mln consensus.

4:08PM Symantec beats by $0.10, beats on revs; guides Q4 EPS in-line, revs in-line (SYMC) 14.63 +0.64 : Reports Q3 (Dec) earnings of $0.42 per share, $0.10 better than the First Call consensus of $0.32; revenues rose 0.6% year/year to $1.54 bln vs the $1.48 bln consensus. Co issues in-line guidance for Q4, sees EPS of $0.33-0.35 vs. $0.34 consensus; sees Q4 revs of $1.49-1.54 bln vs. $1.51 bln consensus.

4:07PM Covance beats by $0.02, beats on revs; reaffirms FY09 EPS guidance (CVD) : Reports Q4 (Dec) earnings of $0.72 per share, $0.02 better than the First Call consensus of $0.70; revenues rose 6.7% year/year to $438.6 mln vs the $419.2 mln consensus. Coreaffirms guidance for FY09, sees EPS of $3.00-3.20 vs. $3.07 consensus.

4:05PM Green Mtn Coffee beats by $0.03, beats on revs; guides FY09 EPS above consensus, revs above consensus (GMCR) 39.85 +2.05 : Reports Q1 (Dec) earnings of $0.16 per share, excluding a patent litigation settlement, $0.03 better than the First Call consensus of $0.13; revenues rose 55.9% year/year to $197 mln vs the $189.3 mln consensus. Co issues upside guidance for FY09, sees EPS of $1.25-1.35 vs. $1.25 consensus; sees FY09 revs of $715.0-740.0 mln vs. $699.76 mln consensus. Co says, "Even in a difficult consumer economy, GMCR is driving significant top and bottom line growth with innovative products that have tremendous consumer appeal and are positioned at the intersection of quality and value. Our success is driven by the winning combination of our outstanding coffees and the Keurig Single-Cup Brewing System."

4:03PM Affymetrix reports Q4 (Dec) results, beats on revs (AFFX) 3.93 -0.13 : Reports Q4 (Dec) loss of $4.65 per share, may not be comparable to the First Call consensus of ($0.19); revenues fell 27.0% year/year to $78.6 mln vs the $75.6 mln consensus. Affymetrix shipped 23 GeneChip systems in the fourth quarter of 2008, bringing its cumulative systems shipped to 1,813. "During the fourth quarter, we took action to position Affymetrix for stronger performance going forward, which resulted in consolidation and restructuring charges. At the same time, the continued decline in our market capitalization and other changes in the business climate necessitated a $239.1 million goodwill impairment charge."

4:02PM Open Text beats by $0.07, reports revs in-line (OTEX) 32.90 +1.24 : Reports Q2 (Dec) earnings of $0.64 per share, excluding non-recurring items, $0.07 better than the First Call consensus of $0.57; revenues rose 13.8% year/year to $207.7 mln vs the $206.5 mln consensus.

8:58AM Sybase beats by $0.17, beats on revs; guides Q1 EPS in-line, revs in-line; guides FY09 EPS above consensus, revs below consensus (SY) 25.86 : Reports Q4 (Dec) earnings of $0.78 per share, excluding non-recurring items, $0.17 better than the First Call consensus of $0.61; revenues rose 3.4% year/year to $305.1 mln vs the $300.3 mln consensus. Co issues in-line guidance for Q1, sees EPS of $0.40-0.42 vs. $0.41 consensus; sees Q1 revs of $260-270 bln vs. $268.02 mln consensus. Co issues mixed guidance for FY09, sees EPS of $2.16-2.21, excluding non-recurring items, vs. $2.14 consensus; sees FY09 revs of $1.14 bln vs. $1.16 bln consensus.

8:37AM Tidewater beats by $0.38, reports revs in-line (TDW) 40.09 : Reports Q3 (Dec) earnings of $2.28 per share, $0.38 better than the First Call consensus of $1.90; revenues rose 15.3% year/year to $362.3 mln vs the $358.8 mln consensus.

8:36AM Affiliated Managers beats by $0.09, misses on revs (AMG) 39.40 : Reports Q4 (Dec) cash earnings per share of $1.30, ex-items, $0.09 better than the First Call consensus of $1.21; revenues fell 41.7% year/year to $223.4 mln vs the $239.3 mln consensus. Co states, "Although market volatility has impacted near-term new investment activity, over the medium to long term, our prospects for earnings growth from accretive investments are excellent. Even in the current environment, there continue to be a large number of outstanding boutique firms which are facing ongoing demographically-driven succession issues, as well as a range of opportunistic transactions, including those involving corporate sellers..."

7:36AM Southern Co beats by $0.01, beats on revs (SO) 34.94 : Reports Q4 (Dec) earnings of $0.26 per share, excluding a $0.02 charge for three leveraged leases from the 1990s, $0.01 better than the First Call consensus of $0.25; revenues rose 13.8% year/year to $3.8 bln vs the $3.31 bln consensus.

6:19AM Becton Dickinson beats by $0.11, misses on revs; raises FY09 EPS guidance (BDX) 74.15 : Reports Q1 (Dec) earnings of $1.26 per share, $0.11 better than the First Call consensus of $1.15; revenues rose 1.6% year/year to $1.73 bln vs the $1.77 bln consensus. Co estimates that EPS from continuing operations for FY09 will increase approx 9-11% over diluted EPS from continuing operations of $4.46 for FY08 (First Call consensus FY09 EPS:  $4.88). CEO states that thus far in 2009, there has been strength in Biosciences and Diagnostics segments and strong sales of insulin delivery products.

5:17AM Baker Hughes beats by $0.15, beats on revs (BHI) 32.77 : Reports Q4 (Dec) earnings of $1.41 per share, $0.15 better than the First Call consensus of $1.26; revenues rose 16.3% year/year to $3.19 bln vs the $3.05 bln consensus. Revenue from North America increased 17% and revenue from outside North America increased 12% for the year 2008 compared to the year 2007. CEO Chad C. Deaton comments "... In North America, where the US rig count has already fallen 25% from peak, customers are continuing to reduce their budgets to address an oversupplied gas market. The depth and duration of the cycle remains uncertain, dependent in part on the timing of the recovery of the global economy."

Earnings - 1st Aug 2008

7:12AM TRW Automotive beats by $0.50, beats on revs; raises FY08 guidance (TRW) 17.67 : Reports Q2 (Jun) earnings of $1.24 per share, $0.50 better than the First Call consensus of $0.74; revenues rose 18.4% year/year to $4.45 bln vs the $4.33 bln consensus. Co raises guidance for FY08, sees EPS of $2.40-2.70, up from $2.30-2.60, includes charges, may not be comparable to $2.24 consensus; sees FY08 revs of $16.4-16.8 bln, up from $16.2-16.6 bln, vs. $16.55 bln consensus. This guidance range reflects pre-tax restructuring and asset impairment charges of approximately $75 million (including approximately $25 million in the third quarter).

7:10AM Bruker Corp. beats by $0.04, beats on revs (BRKR) 11.89 : Reports Q2 (Jun) earnings of $0.13 per share, $0.04 better than the First Call consensus of $0.09; revenues rose 30.7% year/year to $311.5 mln vs the $258.5 mln consensus.

7:08AM NYMEX beats by $0.02, beats on revs (NMX) 83.75 : Reports Q2 (Jun) earnings of $0.83 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.81; revenues rose 28.9% year/year to $210.8 mln vs the $205.9 mln consensus. Average daily volume was 1.812 million contracts during the second quarter 2008, a 30% increase compared to 1.396 million for the second quarter of 2007. NYMEX electronic trading volume on CME Globex averaged 865,149 contracts per day and represented a 42% increase over second quarter 2007 electronic trading volume. NYMEX floor-traded energy futures and options averaged 221,868 contracts a day for the second quarter of 2008, versus 256,635 contracts per day for the same period of 2007.

7:08AM Motorola beats by $0.05, beats on revs; guides Q3 EPS in-line; guides FY08 EPS above consensus (MOT) 7.68 : Reports Q2 (Jun) earnings of $0.02 per share, excluding non-recurring items, $0.05 better than the First Call consensus of ($0.03); revenues fell 7.4% year/year to $8.08 bln vs the $7.69 bln consensus. Co issues in-line guidance for Q3, sees EPS of $0.00-0.02, excluding non-recurring items, vs. $0.01 consensus. Co issues upside guidance for FY08, sees EPS of $0.06-0.08, excluding non-recurring items, vs. $0.01 consensus. "The Company had positive operating cash flow of $204 million and ended the quarter with a net cash position of $3.6 billion and a total cash position of $7.8 billion."

7:07AM Capella Education beats by $0.04, reports revs in-line; announces $60 mln buyback (CPLA) 58.50 : Reports Q2 (Jun) earnings of $0.37 per share, $0.04 better than the First Call consensus of $0.33; revenues rose 22.4% year/year to $66 mln vs the $65.8 mln consensus. For the third quarter ending September 30, 2008, total enrollment and revenue are expected to grow by 15.5 to 17.0 percent compared to the third quarter of 2007. The operating margin is anticipated to be approximately 11.0 to 11.5 percent of total revenue, including an estimated $800,000 severance expense. Separately, the Board of Directors authorized the repurchase of up to $60 million of the Company's outstanding common shares.

7:05AM CVS Caremark reports EPS in-line, misses on revs (CVS) 38.29 : Reports Q2 (Jun) earnings of $0.60 per share, in-line with the First Call consensus of $0.60; revenues rose 2.1% year/year to $21.14 bln vs the $21.41 bln consensus. "This was another quarter of strong financial performance across our businesses. We delivered solid improvement in sales and gross margins and continued to exercise disciplined expense control. That enabled us to hit a record operating profit margin this quarter. At the same time, we've further advanced our new PBM/retail model and our clients have expressed growing enthusiasm for our unique new product offerings."

5:00PM Oil States beats by $0.15, beats on revs; guides Q3 EPS above consensus (OIS) 54.88 -1.09 : Reports Q2 (Jun) earnings of $1.11 per share, excluding $0.03 gain related to the portion if its investment in Boots & Coots, $0.15 better than the First Call consensus of $0.96; revenues rose 26.4% year/year to $631.4 mln vs the $578.4 mln consensus. Co issues upside guidance for Q3, sees EPS of $1.19-1.24 vs. $1.14 consensus. "Each of our businesses contributed to significant year-over-year growth for Oil States in the second quarter of 2008," stated Cindy B. Taylor, Oil States' President and Chief Executive Officer. "Our Tubular Services group generated record revenues and EBITDA during the quarter and our oil sands lodges in Canada continue to be a significant driver of our growth. Our Offshore Products segment, which supports global deepwater infrastructure development, also posted another strong quarter with revenue growth and good margins.

8:42AM Tidewater beats by $0.12, beats on revs; announces $200 mln buyback (TDW) 59.94 : Reports Q1 (Jun) earnings of $1.64 per share, $0.12 better than the First Call consensus of $1.52; revenues rose 11.3% year/year to $340.1 mln vs the $333.2 mln consensus. Co announces its Board of Directors has authorized the co to spend up to $200 mln to repurchase shares of its common stock.

8:33AM Clorox beats by $0.07, reports revs in-line; guides FY09 EPS in-line (CLX) 54.50 : Reports Q4 (Jun) earnings of $1.18 per share, excluding non-recurring items, $0.07 better than the First Call consensus of $1.11; revenues rose 11.2% year/year to $1.50 bln vs the $1.48 bln consensus. Co issues in-line guidance for FY09, sees EPS of $3.60-3.75 vs. $3.71 consensus.

8:32AM Chevron misses by $0.13 (CVX) 84.56 : Reports Q2 (Jun) earnings of $2.90 per share, $0.13 worse than the First Call consensus of $3.03; revenues rose 47.9% year/year to $82.99 bln. Worldwide oil-equivalent production was 2.54 million barrels per day in the second quarter 2008, compared with 2.63 million barrels per day in the corresponding period in 2007. Absent the impact of higher prices on volumes recoverable under certain production-sharing and variable-royalty contracts outside the United States, production increased slightly between periods.

8:22AM Brush Engineered Materials beats by $0.10, beats on revs; guides FY08 EPS in-line; announces buyback (BW) 23.93 : Reports Q2 (Jun) earnings of $0.53 per share, excluding non-recurring items, $0.10 better than the First Call consensus of $0.43; revenues rose 5.6% year/year to $246.6 mln vs the $236.3 mln consensus. Co issues in-line guidance for FY08, sees EPS of $1.75-2.00, excluding non-recurring items, compared to previous guidance of $1.80-2.30, vs. $1.89 consensus. Co's Board of Directors has authorized the co to repurchase of up to 1.0 mln shares.

7:07AM Oshkosh Truck beats by $0.14, beats on revs; guides Q4 EPS below consensus; guides FY08 EPS below consensus (OSK) 18.04 : Reports Q3 (Jun) earnings of $1.19 per share, excluding non-recurring items, $0.14 better than the First Call consensus of $1.05; revenues rose 6.6% year/year to $1.97 bln vs the $1.89 bln consensus. Co issues downside guidance for Q4, sees EPS of $0.50-0.65 vs. $0.92 consensus. Co issues downside guidance for FY08, sees EPS of $3.15-3.30, excluding non-recurring items, vs. $3.44 consensus. "We expect weak residential and non-residential construction in North America and certain areas of Western Europe to limit sales volume in the quarter. We also expect higher steel, fuel and other costs to have a more significant impact on fourth quarter earnings for the access equipment segment, in advance of our product selling price increases, which are effective October 1."

7:06AM Ingersoll-Rand beats by $0.14, reports revs in-line; guides Q3 EPS in-line, revs in-line; guides FY08 EPS above consensus (IR) 36.00 : Reports Q2 (Jun) earnings of $1.03 per share, excluding non-recurring items, $0.14 better than the First Call consensus of $0.89; revenues rose 38.5% year/year to $3.08 bln vs the $3.07 bln consensus. Co issues in-line guidance for Q3, sees EPS of $1.05-1.10 vs. $1.07 consensus; sees Q3 revs of $4.4-4.5 vs. $4.44 bln consensus. Co issues upside guidance for FY08, sees EPS of $3.80-3.90, excluding non-recurring items, vs. $3.71 consensus.

6:59AM Astronics beats by $0.29, beats on revs; guides FY08 revs above consensus (ATRO) 14.60 : Reports Q2 (Jun) earnings of $0.60 per share, $0.29 better than the First Call consensus of $0.31; revenues rose 15.8% year/year to $47.9 mln vs the $42.1 mln consensus. Co issues upside guidance for FY08, sees FY08 revs of $175-185 mln vs. $169.49 mln consensus.

6:16AM KBR Inc. beats by $0.10, beats on revs (KBR) 28.50 : Reports Q2 (Jun) earnings of $0.46 per share, excluding non-recurring items, $0.10 better than the First Call consensus of $0.36; revenues rose 23.5% year/year to $2.66 bln vs the $2.32 bln consensus.

6:04AM CIGNA beats by $0.11, beats on revs; guides FY08 EPS in-line (CI) 37.02 : Reports Q2 (Jun) earnings of $1.08 per share, excluding non-recurring items, $0.11 better than the First Call consensus of $0.97; revenues rose 11.0% year/year to $4.86 bln vs the $4.76 bln consensus. Co issues in-line guidance for FY08, sees EPS of $4.05-4.25, excluding non-recurring items, vs. $4.17 consensus.

4:37AM W-H Energy Svcs beats by $0.21, beats on revs (WHQ) 91.53 : Reports Q2 (Jun)
earnings of $1.45 per share, excluding transactions costs related to proposed acquisition of co by Smith Int'l, $0.21 better than the First Call consensus of $1.24; revenues rose 10.3% year/year to $346.9 mln vs the $311.8 mln consensus.

2:38AM NYSE Euronext misses by $0.03, beats on revs (NYX) 47.24 : Reports Q2 (Jun) earnings of $0.75 per share, excluding non-recurring items, $0.03 worse than the First Call consensus of $0.78; revenues rose 14.1% year/year to $1.11 bln vs the $0.81 bln consensus. Trade volume for NYSE Euronext's cash markets in Europe and in the U.S. increased 17% and 7%, respectively, in Q2. Trading volumes in derivatives increased 22% in Europe and 38% in the U.S. in Q2 compared to Q207.

12:00AM Massey Energy beats by $0.38, beats on revs (MEE) 74.25 : Reports Q2 (Jun)
earnings of $1.15 per share, excluding Wheeling-Pittsburgh litigation charge, $0.38 better than the First Call consensus of $0.77; revenues rose 33.8% year/year to $826.8 mln vs the $715.6 mln consensus. Co believes demand for Central Appalachia coal is likely to exceed supply for foreseeable future. Co continues to project 2008 produced coal shipments will be between 41.5 and 43.0 mln tons, with average produced coal realization between $65.00 and $66.00 per ton. Excluding the WP litigation charge, average cash cost per ton for FY08 is expected to be between $47.00 and $50.00. Other income is expected to be between $20 and $100 mln. For 2009 Massey expects produced coal shipments to be in the range of 46.0 to 48.0 mln tons, 13.0 to 14.0 mln tons of which will be metallurgical coal. For the total tons shipped, the average price is expected to be in the range of $84.00 to $92.00 per ton.