Earnings - 20th Oct 2009

6:07PM Tupperware beats by $0.12, beats on revs; guides FY09 EPS above consensus, revs above consensus; guides FY10 EPS above consensus (TUP) 44.01 -0.26 : Reports Q3 (Sep) earnings of $0.54 per share, excluding non-recurring items, $0.12 better than the First Call consensus of $0.42; revenues rose 0.2% year/year to $514 mln vs the $486.2 mln consensus. Co issues upside guidance for FY09, sees EPS of $2.84-2.89 vs. $2.73 consensus; sees FY09 revs growth of 5-6%, which equates ~$2.27-2.29 bln vs. $2.06 bln consensus. Co issues upside guidance for FY10, sees EPS of $3.33-3.43, excluding non-recurring items, vs. $3.20 consensus; co sees FY10 revs growth of 6-8% in local currency, and with a 6% benefit from foreign exchange is an increase of 12-14% reported.

4:34PM Cymer beats by $0.19, beats on revs; guides Q4 revs above consensus (CYMI) 38.85 -0.12 : Reports Q3 (Sep) earnings of $0.36 per share, $0.19 better than the First Call consensus of $0.17; revenues fell 16.5% year/year to $92.3 mln vs the $82.2 mln consensus. Co issues upside guidance for Q4, sees Q4 revs to be comparable to Q3 revs, which equates to ~92.3 mln vs. $90.62 mln consensus. Co said, "In Q3, we responded to increased demand that resulted in Q3revenue increasing almost 50%, as compared to the prior quarter. In Q4, we anticipate maintaining this increased level of demand for light sources and Installed Base Products."

4:33PM Walter Energy beats by $0.18, beats on revs (WLT) 65.87 -0.05 : Reports Q3 (Sep) earnings of $0.45 per share, $0.18 better than the First Call consensus of $0.27; revenues fell 9.9% year/year to $278.3 mln vs the $222.8 mln consensus.Co says "Our third quarter performance illustrates the strong demand for our high quality coking coal... We continue to see improving market conditions for our product and we are on track to achieve sales of approximately 3.5 mln tons in the second half. This performance supports our plan to produce and sell approximately 8 mln tons in 2010, with the startup of the Mine No. 7 East longwall in early January 2010." The Company expects to ship 126,000 tons of hard coking coal at 2008-2009 carryover pricing of approximately $315 per metric ton in the fourth quarter 2009. Coking coal production is expected to be between 1.4 and 1.5 mln tons in the fourth quarter, with production costs expected to average between $65 and $70 per ton. "We expect continued improvement in market conditions for the remainder of 2009, Moving into 2010, we are seeing increasing demand for premium mid- and low-vol coals from our key product destinations, as well as Asia, with port constraints in Australia continuing to make high-quality coking coals a scarce resource." Walter Coke is expecting improved sales and a return to profitability in the fourth quarter 2009, driven primarily by increased orders from the domestic steel industry. Capital expenditures were $14.9 mln in the third quarter, totaling $67.3 mln for the year. The Company expects full-year capital expenditures of approximately $85 mln. sales of approximately 3.5 mln tons in the second half. This performance supports our plan to produce and sell approximately 8 mln tons in 2010, with the startup of
the Mine No. 7 East longwall in early January 2010."

4:10PM Gilead Sciences beats by $0.11, beats on revs (GILD) 46.12 -0.69 : Reports Q3 (Sep) earnings of $0.78 per share, $0.11 better than the First Call consensus of $0.67; revenues rose 31.4% year/year to $1.8 bln vs the $1.75 bln consensus. 3Q Drug Sales and First Call Consensus: Truvada $620.6 mln vs. $625 mln consensus; $605.3 mln vs. $604 mln First Call Consensus; Viread $169.7 mln vs. $158 mln First Call Consensus; Amibsome $77.0 mln vs. $72 mln Consensus

4:09PM Seagate Tech beats by $0.11, beats on revs; guides Q2 revs above consensus (STX) 15.55 +0.00 : Reports Q1 (Sep) earnings of $0.58 per share, excluding non-recurring items, $0.11 better than the First Call consensus of $0.47; revenues fell 12.2% year/year to $2.66 bln vs the $2.62 bln consensus. Seagate Tech reports gross margin 24.5% vs 23.3% consensus. Co issues upside guidance for Q2, sees Q2 revs of $2.75-2.85 bln vs. $2.75 bln consensus. For the December quarter, the company is planning for the overall industry demand for disk drives to be 153-160 million units. Gross margin as a percent of revenue to be near the high end of the company's targeted range of 22-26% (consensus calls for 23.2%). During the first fiscal quarter, STX reduced short-term borrowings and long-term debt by approximately $465 mln primarily with the maturity of its $300 mln floating rate senior notes and by paying down its revolving credit facility by $150 mln. "At a time when economic conditions remained challenging we are very pleased with the company's financial performance, delivering strong revenues, margins and cash generation... The company has returned to its operating model well ahead of our expectations of six months ago and now expects to sustain gross margin of 22-26%. Although mission critical enterprise demand in particular has yet to recover to historical levels, we benefitted from our time-to-market product delivery to customers integrating our notebook, desktop and enterprise drives." While visibility has improved throughout the calendar year, the ongoing uncertainty in global economic conditions makes it difficult to predict product demand and other related matters, which makes it more likely that Seagate's actual results could differ materially from current expectations.

4:08PM Cree beats by $0.08, beats on revs; guides Q2 EPS above consensus, revs above consensus (CREE) 41.16 +0.05 : Reports Q1 (Sep) earnings of $0.30 per share, excluding non-recurring items, $0.08 better than the First Call consensus of $0.22; revenues rose 20.5% year/year to $169.1 mln vs the $164.5 mln consensus. Cree reports gross margin 43.6% vs 40% consensus and co guidance. Co issues upside guidance for Q2, sees EPS of $0.28-0.30, excluding non-recurring items, vs. $0.23 consensus; sees Q2 revs of $180-190 mln vs. $173.18 mln consensus. Targeted non-GAAP earnings exclude expenses related to the amortization of acquired intangibles of $0.02 per diluted share, and stock-based compensation expense of $0.06 per diluted share. "We are benefitting from continued LED lighting adoption and high factory utilization and are well positioned for solid growth in Q2. As a result of the recent equity offering, we have the balance sheet to invest in the growth of our business as we look to continue to lead the LED lighting revolution."

4:08PM SanDisk beats by $0.49, beats on revs (SNDK) 21.47 +0.01 : Reports Q3 (Sep) earnings of $0.75 per share, excluding non-recurring items, $0.49 better than the First Call consensus of $0.26; revenues rose 13.8% year/year to $935.2 mln vs the $787.9 mln consensus. SanDisk reports gross margin 46.6% vs 31.3% consensus. Co says, "We are encouraged by improved industry fundamentals and our increasingly diversified global markets, which bode well for further growth in Q4 and in 2010."

8:12AM Peabody Energy beats by $0.26, beats on revs; guides FY09 EPS above consensus (BTU) 43.37 : Reports Q3 (Sep) earnings of $0.49 per share, excluding non-recurring items, $0.26 better than the First Call consensus of $0.23; revenues rose 24.6% year/year to $1.67 bln vs the $1.42 bln consensus. Co issues raises/issues upside guidance for FY09, sees EPS of $1.60-1.80, excluding non-recurring items, vs. $1.48 consensus; co also raises FY09 EBITDA guidance to $1.2-1.3 bln vs the $1.14 bln consensus. Given the high rate of deliveries to satisfy U.S. customer commitments, the co is targeting '09 sales of approximately 190 mln tons in the United States and 21-23 mln tons in Australia. Total co sales are expected to be 235-245 mln tons, including Trading and Brokerage contributions. For 2010, growing demand in the Pacific is driving higher Australia sales projections of 24 to 27 mln tons, or 15% above 2009's targets, with minimal capital required. In the United States, BTU is targeting '10 volumes of 185 to 195 mln tons, in line with '09's expectations and 5-15 mln tons lower than 2008. Peabody's 2010 PRB volumes are expected to decline up to another 5 mln tons from 2009's estimated 138 mln tons, and approximately 20-25 mln tons below peak operating levels in late 2008. Third quarter 2009 sales volumes totaled 63.5 mln tons, compared with 65.6 mln tons in the prior year period. U.S. sales reflect planned Powder River Basin (PRB) reductions. Australia sales of 6.5 mln tons were 30% above the second quarter due to higher seaborne thermal volumes and record metallurgical coal shipments. Australian metallurgical coal exports were 2.7 mln tons, nearly triple the pace of 1H09. U.S. revenues per ton increased 11% over the third quarter of last year due to higher realized prices in both the Midwestern and Western regions. Peabody's third quarter realized revs for Australia averaged $82 per ton, including $125 per ton for seaborne metallurgical coal and $72 per ton for seaborne thermal coal. Compared with the second quarter of 2009, Australian realized prices increased 33% due to a larger mix of seaborne metallurgical coal. 3Q09's Australian revs per ton were below year-ago levels due to lower annual pricing for seaborne coal contracts that began April 1.

8:04AM Precision Castparts misses by $0.09, misses on revs (PCP) 104.72 : Reports Q2 (Sep) earnings of $1.54 per share, $0.09 worse than the First Call consensus of $1.63; revenues fell 27.6% year/year to $1.3 bln vs the $1.39 bln consensus. "From a top-line perspective, overall sales declines seem to be bottoming out in the second quarter. Aerospace destocking is slowing, and our schedules show that we are closing the gap between orders and aircraft build rates. A gradual ramp begins in the third quarter, although some of our customers appear to be holding off orders as they approach their fiscal year ends. By the fourth quarter, we start to see schedules firming up and aligning more closely with current aircraft build rates beginning in March and carrying through the first quarter of fiscal 2011 and beyond. In addition, oil and gas and chemical processing orders are getting some traction and showing gradual sales upside in the third and fourth fiscal quarters. As sales increase, we have every expectation of driving those volumes across our improved cost structure and of aggressively leveraging every opportunity for upside performance."

8:02AM Cirrus Logic beats by $0.01, reports revs in-line; guides Q3 revs above consensus (CRUS) 5.86 : Reports Q2 (Sep) earnings of $0.11 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.10; revenues rose 4.5% year/year to $55.7 mln vs the $55.7 mln consensus. Co issues upside guidance for Q3, sees Q3 revs of $58-62 mln vs. $53.96 mln consensus. Gross margin is expected to be between 52 percent and 54 percent; and combined R&D and SG&A expenses are expected to range between $23 million and $25 million, which include approximately $2 million in share-based compensation and amortization of acquisition-related intangibles expenses. Gross margin for the quarter was 52 percent, down from 56 percent in the quarter a year ago and flat compared to 52 percent reported for the previous quarter.

7:38AM Caterpillar beats by $0.58, misses on revs; guides FY09 EPS above consensus; guides FY10 revs in-line (CAT) 57.85 : Reports Q3 (Sep) earnings of $0.64 per share, $0.58 better than the First Call consensus of $0.06, revenues fell 44% YoY to $7.3 bln vs $7.47 bln First Call consensus. Co issues guidance for FY09, sees EPS of $1.85-2.05 vs. $1.49 consensus; sees FY09 revs of $32-33 bln vs. $33.07 bln consensus. Co sees FY10 revs up 10-25% from midpoint of FY09 guidance; equates to ~$35.75-40.625 bln vs $33.14 bln First Call consensus, in part driven by the end of dealer inventory reductions which significantly impacted sales in 2009. "We are pleased with this quarter's profit given the severe economic environment and with our sales well below end-user demand as dealers continue to aggressively draw down inventories... During the quarter, our primary focus continued to be on trough management and operational execution. We lowered production as dealers continued to cut inventories, we reduced costs, maintained positive price realization, lowered inventory, delivered positive operating cash flow and improved our financial position... We believe the third quarter marked the low point for Caterpillar sales and revenues in what has been the toughest recession since the 1930s. We are seeing encouraging signs that indicate a recovery may be underway... However, the world economy is still facing significant challenges. There is uncertainty about the timing and strength of recovery... While 2010 will still be a difficult year, we expect improvement in our top line from the lows of 2009, and it's critical that we manage on the way up as well as we did in the face of declining volume. As a result, we've already started planning for an upturn. When it comes, it can come quickly, and we, our dealers and our suppliers will be prepared"

7:37AM BlackRock beats by $0.17, beats on revs (BLK) 230.43 : Reports Q3 (Sep) earnings of $2.10 per share, excluding non-recurring items, $0.17 better than the First Call consensus of $1.93; revenues fell 13.2% year/year to $1.14 bln vs the $1.13 bln consensus. Third quarter new business results reflected increasing demand for higher return investments, driving net inflows of $14.5 bln in equities, balanced, fixed income and alternative investments, and net outflows of $26.4 bln in cash management. "Improving investor sentiment was the most important factor in third quarter results. Clients are putting money back to work in the markets, driving inflows in equities and bonds, and outflows in money market funds industry-wide. This shift drove the rally in global stocks and tighter credit spreads, as well as a favorable revenue mix in net new business. Assets under management increased $61.6 bln to $1.435 trln at September 30, 2009. Net new business in long-dated investment products totaled $14.5 bln. In contrast, net outflows in cash management were $26.4 bln and distributions from advisory accounts totaled $4.6 bln. BlackRock Solutions business remained strong, with seven net new assignments added during the quarter. Year-over-year, AUM has increased $176.2 bln or 14%, including net new business of $133.4 bln, and BlackRock Solutions has added 56 net new assignments. Our pipeline of wins funded or to be funded totaled $42.5 bln as of October 15, 2009. "The BGI transaction remains on target for a December 1, 2009 closing."

7:03AM Pfizer beats by $0.03, beats on revs; raises FY09 guidance above consensus (PFE) 17.98 : Reports Q3 (Sep) earnings of $0.51 per share, $0.03 better than the First Call consensus of $0.48; revenues fell 2.9% year/year to $11.62 bln vs the $11.41 bln consensus. Co raises guidance for FY09, sees EPS of $2.00-2.05 vs. $1.98 consensus, prior guidance $1.90-2.00; sees FY09 revs of $49-50 bln vs. $48.43 bln consensus, prior guidance $45-46 bln. Co said, "During the first nine months of 2009, we have continued to deliver on our 2009 financial commitments and our longer-term cost-reduction target. Completion of both the Wyeth acquisition and associated integration plans is a testament to the hard work and dedication of talented colleagues throughout the organization. Looking ahead, we anticipate that our broad portfolio of products and increased investment in high-growth opportunities will better position us to generate consistent earnings growth and continue to deliver on our commitments."

6:18AM Lexmark beats by $0.20, beats on revs; guides Q4 EPS above consensus (LXK) 22.57 : Reports Q3 (Sep) earnings of $0.65 per share which excludes $0.52 per share for restructuring-related activities which includes $0.34 per share for additional restructuring charges the co is announcing today, $0.20 better than the First Call consensus of $0.45; revenues fell 15.3% year/year to $958 mln vs the $901.3 mln consensus. Co issues upside guidance for Q4, sees EPS of $0.50-$0.60 vs. $0.47 consensus. The co also announces additional restructuring initiatives designed to streamline its world-wide organization to improve operating efficiencies and effectiveness. This October 2009 plan includes reductions primarily in the areas of manufacturing and supply chain, service delivery overhead, marketing and sales support, corporate overhead, and development. The company expects these actions to be principally complete by the end of the first quarter of 2011. These October 2009 actions are expected to impact about 825 positions worldwide and will result in total pre-tax charges of approximately $120 mln with approximately $33 mln incurred in the third quarter of 2009. Lexmark expects these October 2009 actions will generate savings of approximately $70 mln in 2010 and ongoing savings of $110 mln beginning in 2011 with approximately 60% impacting operating expense and 40%impacting cost of goods sold.

1:38AM Allegiant Travel beats by $0.05, beats on revs (ALGT) 39.63 : Reports Q3 (Sep) earnings of $0.68 per share, $0.05 better than the First Call consensus of $0.63; revenues rose 13.9% year/year to $133.1 mln vs the $130.5 mln consensus. "Cost per passenger excluding fuel declined to $50.31 in the third quarter from $53.33 in the prior year, which understates the improvement since system load factor was 3.8% lower than last year. Please note these figures include bonus accrual, which has increased significantly in 2009 since it is tied to profitability and therefore further disguises underlying cost improvement. Excluding bonus accrual, cost per passenger excluding fuel declined to $4." Co reports load factor in 3Q of 89.9% 93.8% in 3Q08.

Earnings - 17th Feb 2009

6:08PM Valmont beats by $0.05, beats on revs (VMI) 38.45 -2.28 : Reports Q4 (Dec) earnings of $1.09 per share, $0.05 better than the First Call consensus of $1.04; revenues rose 18.1% year/year to $493.1 mln vs the $454.2 mln consensus. Co says, "Current global economic uncertainty makes our outlook for 2009 hard to quantify. For the Q1, when we balance the plusses and minuses, we expect that increased utility revenue will more than offset a decline in global irrigation revenue. We currently expect total revenue to be higher for the quarter and we expect earnings to be similar to the record Q1 2008, depending on product mix and factory utilization."

4:36PM Jack In The Box misses by $0.03, beats on revs (JACK) 22.28 -0.75 : Reports Q1 (Dec) earnings of $0.49 per share, $0.03 worse than the First Call consensus of $0.52; revenues were unchanged from the year-ago period at $776.7 mln vs $749.0 mln consensus. Co sees flat to 2% same-store sales increase at JACK restaurants versus a 0.1% decrease in the year-ago quarter... flat to 2% same-store sales decrease at Qdoba system restaurants versus a 2.4% increase in the year-ago quarter. Co sees flat to 2% increase in same-store sales at JACK restaurants...  sees Flat to 2% decrease in same-store sales at Qdoba system restaurants.

4:22PM CardioNet beats by $0.01, beats on revs; guides FY09 EPS in-line, revs in-line (BEAT) 22.22 -0.84 : Reports Q4 (Dec) earnings of $0.16 per share, excluding NOL utilization,$0.01 better than the First Call consensus of $0.15; revenues rose 43.9% year/year to $34.4 mln vs the $33.9 mln consensus. Co issues in-line guidance for FY09, sees EPS of $0.69-0.73 vs. $0.79 consensus; sees FY09 revs of $170-175 mln vs. $171.09 mln consensus. Co says, "In addition, we currently anticipate a one-time benefit in 2009 related to NOLs and other tax related items which could favorably impact earnings by approximately $1.00 to $1.30 per diluted share. We do not anticipate any earnings per diluted share benefit from NOLs and other tax related items in 2010 or 2011. We believe the investment in 2009 is the foundation that will drive higher revenues and earnings in 2010 and beyond. Our outlook for 2010 is for revenue to increase at least 50% and earnings to increase 100%, compared to the Company's 2009 guidance excluding NOLs and other tax related items. In 2011, we believe that earnings per diluted share could reach $2.00."

4:12PM Axsys Technologies misses by $0.02, beats on revs; guides FY09 EPS in-line, revs in-line (AXYS) 41.41 +0.90 : Reports Q4 (Dec) earnings of $0.59 per share, ex-items,$0.02 worse than the First Call consensus of $0.61; revenues rose 33.4% year/year to $63.9 mln vs the $62.1 mln consensus. Co issues reaffirms guidance for FY09, sees EPS of $2.66-$2.72 vs. $2.69 consensus; sees FY09 revs of $278-$282 mln vs. $281.73 mln consensus. Co states, "Our healthy $165.1 million opening backlog provides excellent visibility for 2009. In addition, we expect that our expanding market presence, coupled with our increasing array of surveillance solutions, will continue to generate new growth opportunities. Based on these factors, we are reiterating our 2009 guidance."

4:07PM American Medical beats by $0.03, beats on revs; guides Q1 EPS in-line; guides FY09 EPS above consensus (AMMD) 10.72 : Reports Q4 (Dec) earnings of $0.26 per share, excluding non-recurring items, $0.03 better than the First Call consensus of $0.23; revenues rose 3.1% year/year to $134 mln vs the $132.6 mln consensus. Co issues in-line guidance for Q1, sees EPS of $0.15-0.19, excluding non-recurring items, vs. $0.15 consensus. Co issues upside guidance for FY09, sees EPS of $0.86-0.99, excluding non-recurring items, vs. $0.76 consensus.

8:27AM Freightcar America beats by $0.37, beats on revs (RAIL) 18.71 : Reports Q4 (Dec) earnings of $0.70 per share, $0.37 better than the First Call consensus of $0.33; revenues rose 98.3% year/year to $271.9 mln vs the $194.1 mln consensus. Co says, "Looking forward for 2009, activity is sluggish and we anticipate a significant reduction in railcar deliveries for the year. We will continue to aggressively reduce expenses throughout the co in order to enhance profitability and conserve cash." Total backlog of unfilled orders was 2,620 units at the end of 2008, compared with 4,401 units at September 30, 2008 and 5,399 units at December 31, 2007.

8:25AM Canadian Solar sees Q4 revs of $66-$71 mln vs $69.29 mln First Call consensus (CSIQ) 5.00 : Co issues in-line guidance, sees Q4 revs of $66-$71 mln vs $69.29 mln First Call consensus. Co expects gross margin in Q4 to be negative, reflecting the weak Euro, a decline in module pricing in December, and an inventory revaluation provision that resulted from a rapid decline in the raw material pricing in December, 2008. Co says it "believes it was successful in achieving its cash management objectives: For the end of the fourth quarter, we anticipate reporting a cash position in excess of $130 million. Our accounts receivables are expected to be in the range of $56 to $64 million as of December 31, 2008, compared to $153 million net at the end of the third quarter, 2008. During the fourth quarter, we chose to pay down approximately $78 million of short-term and related party debt, which brings our outstanding short-term loan balance to approximately $92 million at the end of 2008."

7:33AM ConAgra reaffirms fiscal 2009 eps guidance and long-term eps growth expectations (CAG) 16.22 : Co says that regarding the near-term outlook: 1) expects fiscal 2009 EPS of slightly above $1.50 (consensus $1.46), with more earnings expected to be generated in the co's fiscal Q4 than Q3, in which it is currently operating. This is a reaffirmation of previously communicated EPS expectations for fiscal 2009; 2) regarding projections for fiscal 2010, the company expects EPS growth over fiscal 2009, and will provide more details when it has completed its plans and has more fully assessed the impacts of changing input costs and economic conditions. The co expects improved Consumer Foods operating profit in fiscal 2010 due to moderating input cost inflation, anticipated benefits from its offering of brands and products that appeal to value-conscious consumers, and new product introductions... Regarding the long-term outlook: 1) the company expects annual EPS growth of 8 percent to 10 percent over the long term; 2) return on invested capital is expected to range from 12%-13% over the long term.

7:32AM Transocean Q4 EPS $0.01 below consensus, reports revs in-line (RIG) 60.15 : Reports Q4 (Dec) earnings of $3.69 per share, excluding non-recurring items, $0.01 worse than the First Call consensus of $3.70; revenues rose 57.4% year/year to $3.27 bln vs the $3.29 bln consensus.

7:26AM Wal-Mart beats by $0.04, misses on revs; guides Q1 EPS in-line; guides FY10 EPS in-line (WMT) 46.53 : Reports Q4 (Jan) earnings of $1.03 per share, excluding non-recurring items, $0.04 better than the First Call consensus of $0.99; revenues rose 1.7% year/year to $108 bln vs the $109.1 bln consensus. Co issues in-line guidance for Q1, sees EPS of $0.72-0.77 vs. $0.77 consensus. Co issues in-line guidance for FY10, sees EPS of $3.45-3.60 vs. $3.59 consensus. Co says, "Our guidance reflects the strength of our underlying business and global economic conditions. It assumes that currency exchange rates will remain relatively the same as they were at the end of our 2009 fiscal year, which would have a negative impact on our year-over-year comparison of fiscal 2010 EPS of approximately 13 cents per share... Our performance relative to competitors was exceptionally strong in Q4 and throughout the year. We expect this momentum to continue."

7:17AM Medtronic beats by $0.01, reports revs in-line (MDT) 32.81 : Reports Q3 (Jan) earnings of $0.71 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.70; revenues rose 2.6% year/year to $3.49 bln vs the $3.51 bln consensus.

7:08AM United Therapeutics beats by $0.49, reports revs in-line (UTHR) 72.44 : Reports Q4 (Dec) earnings of $1.02 per share, $0.49 better than the First Call consensus of $0.53; revenues rose 26.7% year/year to $75.9 mln vs the $76.5 mln consensus.

7:01AM AMEDISYS beats by $0.07, beats on revs (AMED) 51.40 : Reports Q4 (Dec) earnings of $0.98 per share, excluding non-recurring items, $0.07 better than the First Call consensus of $0.91; revenues rose 75.3% year/year to $340.1 mln vs the $327.1 mln consensus.

2:40AM FMC Technologies beats by $0.06, beats on revenue (FTI) 27.98 : Reports Q4 (Jan) earnings of $0.74 pers share, excluding non-recurring items, $0.06 better than the First Call consensus of $0.68; revenues increased 13% year/year to $1.2 bln vs the $1.175 bln consensus. Co issues in-line guidance for FY09, sees EPS from continuing operations of $2.40-2.65 vs the $2.54 consensus.

2:07AM Walter Inds misses by $0.13, misses on revs (WLT) 21.45 : Reports Q4 (Dec) earnings of $1.73 per share, excluding non-recurring items, $0.13 worse than the First Call consensus of $1.86; revenues rose 43.2% year/year to $447.3 mln vs the $474.6 mln consensus. Metallurgical coal production is expected to range between 1.7 - 1.9 mln tons in Q109, reflecting the continuation of production from Mine No. 7's Southwest "A" longwall through the completion of the panel. Given recently communicated volume requirements and corresponding shipping schedules from its customers, co expects continued stable production through 1H09. However, given current market conditions, co plans to delay the start up of the Mine No. 7 East expansion until at least Sept. 1, 2009.

2:01AM Aaron Rents beats by $0.04, misses on revs; guides Q1 EPS above consensus, revs below consensus; guides FY09 EPS in-line, revs in-line (RNT) 22.81 : Reports Q4 (Dec) earnings of $0.39 per share, excluding non-recurring items, $0.04 better than the First Call consensus of $0.35; revenues rose 11.0% year/year to $404.9 mln vs the $418.5 mln consensus. Co issues mixed guidance for Q1, sees EPS of $0.49-0.54, excluding non-recurring items, vs. $0.48 consensus; sees Q1 revs in excess of $445.0 mln vs. $464.68 mln consensus. Co issues in-line guidance for FY09, sees EPS of $1.72-1.87 vs. $1.77 consensus; sees FY09 revs of $1.75 bln vs. $1.8 bln consensus. As previously announced, co anticipates new store growth of approx 5-9% over the store base at the end of 2008.

1:49AM Chemed beats by $0.08, misses on revs; guides FY09 EPS above consensus (CHE) 41.61 : Reports Q4 (Dec) earnings of $0.99 per share, excluding non-recurring items,$0.08 better than the First Call consensus of $0.91; revenues rose 2.3% year/year to $292.2 mln vs the $297.8 mln consensus. Co issues upside guidance for FY09, sees EPS of $3.70-3.95, excluding non-recurring items, vs. $3.36 consensus. VITAS is estimated to generate FY09 revenue growth, prior to Medicare Cap, of 6.0% to 7.5%. Admissions are estimated to increase 2% to 4% and full-year adjusted EBITDA margin, prior to Medicare Cap, is estimated to be 15.3% to 16.3%. This guidance assumes VITAS will receive a Medicare basket price increase of 1.5% effective October 1, 2009. Full calendar year 2009 Medicare contractual billing limitations are estimated at $5.0 mln. Roto-Rooter is estimated to generate full-year 2008 revenue growth of 4.0% to 5.0%. The revenue growth is a result of increased pricing of 4.0% to 5.0% and a favorable mix shift to higher revenue jobs, partially offset by a job count decline estimated at 7.0% to 9.0%. Adjusted EBITDA margin for 2009 is estimated in the range of 17.0% to 18.0%. This guidance does not include any Roto-Rooter franchise acquisitions that may be completed in 2009.

12:35AM Teva Pharm beats by $0.03, misses on revs; increases quarterly dividend 33% (TEVA) 44.01 : Reports Q4 (Dec) earnings of $0.76 per share, excluding non-recurring items, $0.03 better than the First Call consensus of $0.73; revenues rose 10.6% year/year to $2.85 bln vs the $2.93 bln consensus. Pharmaceutical sales in North America (including Copaxone) for the fourth quarter reached $1,652 mln, accounting for 61% of total pharmaceutical sales and representing an increase of 15% compared with the fourth quarter of last year. Gross profit margin reached 56.1% in Q408, compared to the 52.3% gross profit margin recorded in Q407. Board declares a cash dividend for Q408 of NIS 0.60 (approx $0.147 according to the rate of exchange on February 16, 2009) per share, up from NIS 0.45 in the previous quarter.

Earnings - 28th July 2008

CMP: Compass Minerals International Inc. reported its first second-quarter profit, and sales rose 27 percent compared with the same period last year. In a release after the market closed on Monday, the Overland Park-based company (NYSE: CMP) reported earnings of $1.6 million, or 5 cents a share, for the quarter that ended June 30. This compares with a loss of $3.2 million, or 10 cents a share, last year. The company typically records a loss in the second quarter, when it builds rock salt inventories for the winter season. Five analysts surveyed by Thomson First Call reported a consensus earnings estimate of 26 cents a share for the quarter. “This significant achievement illustrates the success of our strategies to strengthen our non-winter, non-seasonal applications coupled with the company’s minimal exposure to economic cycles,” company CEO Angelo Brisimitzakis said in the release. Sales for the quarter were $162 million, up from $127.5 million last year. Four analysts reported a consensus revenue estimate of $158 million for the quarter. Compass ranks No. 18 on the Kansas City Business Journal’s list of area public companies

6:38PM SL Green Rlty beats by $0.29, beats on revs (SLG) 78.90 -4.10 : Reports Q2 (Jun) funds from operations of $2.00 per share, $0.29 better than the First Call consensus of $1.71; revenues rose 21.4% year/year to $305.8 mln vs the $262.4 mln consensus.

5:16PM Mosaic beats by $0.24, beats on revs (MOS) 122.66 +0.61 : Reports Q4 (May) earnings of $1.88 per share, excluding non $0.05 gain, $0.24 better than the First Call consensus of $1.64; revenues rose 105.8% year/year to $3.47 bln vs the $2.85 bln consensus. The average Q4 DAP price, FOB plant, was $754 per tonne, which is a $416 per tonne increase compared with a year ago and a $267 per tonne increase compared with the third quarter of fiscal 2008. The average Q4 MOP price, FOB plant, was $335 per tonne, which is a $181 per tonne increase compared with a year ago and a $114 per tonne increase compared with Q3 of FY08. Co gives outlook saying, Sales volumes for the Phosphates segment are expected to range from 9.0-9.4 mln tonnes for FY09. Potash segment sales volumes are expected to range from 8.2-8.6 mln tonnes in FY09. Mosaic's realized DAP price, FOB plant, for Q1 of FY09 is estimated to be $1,020-1,080 per tonne. Co's Q1 FY09 average realized MOP price, FOB plant, is estimated to be $460-510 per tonne.

5:11PM Manitowoc beats by $0.12, beats on revs; raises bottom-end of FY08 EPS guidance (MTW) 28.98 -0.08 : Reports Q2 (Jun) earnings of $1.01 per share, ex items, $0.12 better than the First Call consensus of $0.89; revenues rose 28.1% year/year to $1.3 bln vs the $1.23 bln consensus. Co raises bottom-end of guidance for FY08, sees EPS of $3.30-3.40, from $3.20-3.40, ex items, vs. $3.42 consensus. "The company continues to see brisk global demand for its mobile telescopic, crawler, and high-capacity tower cranes; however, we are noticing slower demand for lower capacity tower cranes in western Europe. We expect to realize better-than- industry growth with Foodservice revenue increases in the mid-single-digits range and improving margins in the mid-teens," Co also noted that it is closely monitoring and managing the impact of higher steel and commodity costs across each of its businesses.

5:03PM Walter Inds beats by $0.37, beats on revs (WLT) 86.28 +1.77 : Reports Q2 (Jun) earnings of $0.94 per share, $0.37 better than the First Call consensus of $0.57; revenues rose 24.8% year/year to $370 mln vs the $304.7 mln consensus. Changes in metallurgical coal sales volumes between the third and fourth quarter reflect a change in the anticipated timing of shipments for approximately 100,000 tons versus prior expectations. The average metallurgical coal operating margin per ton is expected to improve by approximately $5 per ton in the fourth quarter compared to previously communicated expectations, driven largely by higher metallurgical coal sales prices. The coke sales outlook for the second half of the year also reflects a shift in tons between the third and fourth quarter as coke oven repairs in the third quarter will reduce tonnage volumes slightly that will be made up in the fourth quarter. The operating margin per ton ranges are consistent with prior expectations and reflect favorable spot sales prices, offset by higher coal input costs.

4:37PM CF Industries beats by $1.42, misses on revs (CF) 145.68 +1.96 : Reports Q2 (Jun) earnings of $5.02 per share, includes as $0.92 mark-to-market gain, $1.42 better than the First Call consensus of $3.60; revenues rose 36.8% year/year to $1.16 bln vs the $1.21 bln consensus. Average selling prices for all nitrogen products increased from both the year-earlier quarter and Q1 of 2008. For ammonia, the average selling price was $513 per ton, up from $390 in Q2 2007 and $428 in Q1 of 2008. For urea, average selling price was $417 per ton, up from $331 in the year-earlier quarter and $387 in 2008's Q1. For UAN, the average selling price was $313 per ton, up from $206 in the year-earlier quarter and $285 in Q1 2008. Co says, "Unfortunately, the cold, wet spring and flooding delayed planting or required replanting throughout large portions of the Corn Belt. It also limited the application of pre-plant and side-dress ammonia, used to maximize yield on corn... Fertilizer producers should begin seeing the positive effects of that acreage increase during this year's third and fourth quarters, as customers are expected to restock inventories in anticipation of a robust fall application season... while demand for this fall and the spring of 2009 appears strong, there are issues facing domestic producers, including uncertainty regarding export tax levels in China and the cost of sulfur. Co also noted that the impact of fertilizer prices on demand and U.S. ethanol policy bear watching."

4:12PM Advanced Analogic Tech misses by $0.02, reports revs in-line; guides Q3 EPS, guides Q3 revs in-line with consensus (AATI) 4.27 -0.36 : Reports Q2 (Jun) loss of $0.04 per share, excluding non-recurring items, $0.02 worse than the First Call consensus of ($0.02); revenues fell 17.8% year/year to $21.2 mln vs the $21.1 mln consensus. Co issues guidance for Q3, sees GAAP EPS of ($0.03)-(0.01), may not be comparable to $0.02 consensus; sees Q3 revs of $24-26 mln vs. $24.52 mln consensus.

4:09PM Atheros Communications beats by $0.01, reports revs in-line (ATHR) : Reports Q2 (Jun) earnings of $0.31 per share, $0.01 better than the First Call consensus of $0.30; revenues rose 20.5% year/year to $121.5 mln vs the $120.8 mln consensus.

4:02PM AuthenTec beats by $0.01, beats on revs; guides Q3 EPS in-line, revs below consensus; guides FY08 revs in-line (AUTH) 9.90 -0.30 : Reports Q2 (Jun) earnings of $0.04 per share, $0.01 better than the First Call consensus of $0.03; revenues rose 49.6% year/year to $18.4 mln vs the $17.4 mln consensus. Co issues mixed guidance for Q3, sees EPS of $0.04-0.05 vs. $0.05 consensus; sees Q3 revs of $19-20 mln vs. $20.22 mln consensus. Co issues in-line guidance for FY08, sees FY08 revs of $72-78 mln vs. $77.08 mln consensus.

4:02PM Ladish misses by $0.11, misses on revs (LDSH) 21.99 -0.53 : Reports Q2 (Jun) earnings of $0.43 per share, $0.11 worse than the First Call consensus of $0.54; revenues rose 4.8% year/year to $119 mln vs the $123.5 mln consensus.

8:39AM Wrigley beats by $0.06, beats on revs (WWY) 78.99 : Reports Q2 (Jun) earnings of $0.74 per share, excluding non-recurring items, $0.06 better than the First Call consensus of $0.68; revenues rose 14.0% year/year to $1.57 bln vs the $1.53 bln consensus.

7:32AM Simon Properties beats by $0.07, beats on revs; guides FY08 FFO above consensus (SPG) 90.59 : Reports Q2 (Jun) funds from operations of $1.56 per share, excluding non-recurring items, $0.07 better than the First Call consensus of $1.49; revenues rose 7.8% year/year to $922.9 mln vs the $885 mln consensus. Co issues upside guidance for FY08, sees FFO of $6.45-6.52, excluding non-recurring items, vs. $6.44 consensus.

7:28AM Verizon beats by $0.02, reports revs in-line (VZ) 34.45 : Reports Q2 (Jun) earnings of $0.67 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.65; revenues rose 3.7% year/year to $24.12 bln vs the $24.18 bln consensus. Co reports Q2 net adds of 1.5 mln customers, with 68.7 mln total customers. Co reports 1.12% total churn and 0.83% retail post-paid churn. Co reports 176k net new FiOS TV customers and 187k net new FiOS Internet customers. Co reports 10.4% increase in consumer ARPU in legacy telecom markets and 18.7% increase in Verizon Business strategic services revenue.

7:08AM Kraft Foods beats by $0.08, beats on revs; guides FY08 EPS above consensus (KFT) 29.38 : Reports Q2 (Jun) earnings of $0.58 per share, excluding non-recurring items, $0.08 better than the First Call consensus of $0.50; revenues rose 21.4% year/year to $11.18 bln vs the $10.7 bln consensus. Co issues upside guidance for FY08, sees EPS of at least $1.92 vs. $1.89 consensus. The company continues to expect cumulative annualized savings from the restructuring program to reach approximately $1.0 bln by year-end and $1.2 bln by the end of 2009. To date, cumulative annualized savings from this cost restructuring program totaled approximately $927 mln, up from approximately $785 mlnat the end of 2007.

3:22AM Elbit Systems anticipates positive impact on Q208 results due to higher level of revenues from short-term delivery contracts (ESLT) 53.87 : Co announces that it anticipates an impact on its Q208 results of additional net after tax profit of approx $8-11 mln, due mainly to a higher level of revenues generated from short-term delivery contracts in the quarter. Conversely, the co notes, as indicated in its announcement on July 2, 2008, that its financial results for Q208 will also be negatively impacted in a net after tax amount of approx $10 mln, as a result of a recent court ruling in the U.S. Both developments will be reflected in Q208 results.

1:28AM Sohu.com beats by $0.25, beats on revs; guides Q3 EPS above consensus, revs above consensus (SOHU) 82.82 : Reports Q2 (Jun) earnings of $0.92 per share, excluding non-recurring items, $0.25 better than the First Call consensus of $0.67; revenues rose 161.6% year/year to $102 mln vs the $96.5 mln consensus. Co issues upside guidance for Q3, sees EPS of $1.00-1.05, excluding non-recurring items, vs. $0.71 consensus; sees Q3 revs of $112.0-116.0 mln vs. $106.75 mln consensus.