Earnings - 7th May 2009 (1)

8:31AM Goldcorp beats by $0.10, beats on revs (GG) 30.33 : Reports Q1 (Mar) earnings of $0.23 per share, $0.10 better than the First Call consensus of $0.13; revenues fell 0.3% year/year to $624.8 mln vs the $494.3 mln consensus.

8:06AM Rowan Cos beats by $0.20, misses on revs (RDC) 18.28 : Reports Q1 (Mar) earnings of $1.14 per share, excluding a $0.02 gain on asset disposals, $0.20 better thanthe First Call consensus of $0.94; revenues rose 1.9% year/year to $494.8 mln vs the $517.9 mln consensus. Co says, "We are very pleased with the strong performance of both our drilling and manufacturing operations in the first quarter of 2009, particularly in the area of cost reduction. This is an area of considerable focus for Rowan, especially as weakening demand for drilling services and equipment continues to put downward pressure on our revenues."

7:49AM Perrigo beats by $0.05, misses on revs; guides FY09 EPS above consensus (PRGO) 25.14 : Reports Q3 (Mar) earnings of $0.50 per share, excluding non-recurring items,$0.05 better than the First Call consensus of $0.45; revenues rose 5.3% year/year to $505.9 mln vs the $527.2 mln consensus. Co issues upside guidance for FY09, sees EPS of $1.80-1.90, excluding non-recurring items, vs. $1.77 consensus, up from previous guidance of $1.75-1.90.

7:37AM Suburban Propane beats by $0.58, misses on revs (SPH) 39.48 : Reports Q2 (Mar) earnings of $3.50 per share, $0.58 better than the First Call consensus of $2.92; revenues fell 24.2% year/year to $445.2 mln vs the $490.4 mln consensus.

7:36AM Alliant Tech beats by $0.17, beats on revs; guides FY10 EPS above consensus, revs above consensus (ATK) 82.64 : Reports Q4 (Mar) earnings of $2.28 per share, excluding non-recurring items, $0.17 better than the First Call consensus of $2.11; revenues rose 11.3% year/year to $1.26 bln vs the $1.19 bln consensus. Co issues upside guidance for FY10, sees EPS of $8.05-8.25 vs. $7.72 consensus; sees FY10 revs of $4.73-4.80 bln vs. $4.66 bln consensus.

7:23AM Linn Energy beats by $0.09, beats on revs (LINE) 16.39 : Reports Q1 (Mar) earnings of $0.48 per share, excluding non-recurring items, $0.09 better than the First Call consensus of $0.39; revenues rose 19.2% year/year to $203.9 mln vs the $170.8 mln consensus.

7:18AM Cameron beats by $0.02, misses on revs; guides Q2 EPS in-line; guides FY09 EPS above consensus (CAM) 28.19 : Reports Q1 (Mar) earnings of $0.59 per share, $0.02 better than the First Call consensus of $0.57; revenues fell 6.1% year/year to $1.26 bln vs the $1.36 bln consensus. Co issues in-line guidance for Q2, sees EPS of $0.45-$0.48 vs. $0.45 consensus. Co issues upside guidance for FY09, sees EPS of $1.85-$2.00 vs. $1.76 consensus, vs prior guidance of $1.75-$2.00. "The improvement in the lower end of our guidance reflects our expectation that we will continue to efficiently execute on delivery of projects in backlog, as well as an anticipated improvement in our tax rate for the balance of the year."

7:11AM Teradata beats by $0.12, beats on revs (TDC) 18.83 : Reports Q1 (Mar) earnings of $0.26 per share, $0.12 better than the First Call consensus of $0.14; revenues fell 2.1% year/year to $367 mln vs the $345.1 mln consensus. Gross margin in the first quarter was 54.5% vs 51.7% in the first quarter of 2008. Gross margin in the first quarter increased 280 bps, with both product and services gross margins improving from the prior year period.

7:10AM Holly beats by $0.14, beats on revs (HOC) 25.82 : Reports Q1 (Mar) earnings of $0.44 per share, $0.14 better than the First Call consensus of $0.30; revenues fell 56.0% year/year to $650.8 mln vs the $590.5 mln consensus.

7:09AM Corrections Corp beats by $0.03, reports revs in-line; guides Q2 EPS in-line; guides FY09 EPS above consensus (CXW) 14.14 : Reports Q1 (Mar) earnings of $0.29 per share, $0.03 better than the First Call consensus of $0.26; revenues rose 6.5% year/year to $404.2 mln vs the $402.7 mln consensus. Co issues in-line guidance for Q2, sees EPS of $0.26-0.28 vs. $0.28 consensus. Co issues upside guidance for FY09, sees EPS of $1.17-1.25 vs. $1.16 consensus. "Many states are nearing completion of their fiscal year 2010 budgets, which begin July 1, 2009. The federal fiscal stimulus bill passed during the first quarter of 2009 provides significant funds to states over several years, which will assist them in balancing their budgets. However, uncertainty remains regarding the magnitude of the recession and the potential impacts on state budgets going forward."

7:03AM Aecom Tech reports EPS in-line, misses on revs; reaffirms FY09 EPS in-line (ACM) 28.24 : Reports Q2 (Mar) earnings of $0.40 per share, in-line with the First Call consensus of $0.40; revenues rose 28.7% year/year to $1.5 bln vs the $1.57 bln consensus. Co reaffrims in-line guidance for FY09, sees EPS of $1.60-1.70 vs. $1.67 consensus. Co announces backlog totaling $9.2 bln at March 31, 2009, a 30% increase year over year.

6:13AM Continental Resources misses by $0.03, misses on revs (CLR) 29.96 : Reports Q1 (Mar) loss of $0.03 per share, excluding non-recurring items, $0.03 worse than the First Call consensus of ($0.00); revenues fell 57.6% year/year to $96.6 mln vs the $112.2 mln consensus.

6:09AM Pioneer Drilling beats by $0.03, misses on revs (PDC) 5.66 : Reports Q1 (Mar) earnings of $0.01 per share, $0.03 better than the First Call consensus of ($0.02); revenues fell 11.1% year/year to $100.8 mln vs the $102.4 mln consensus. Co says, "It seems clear that the current downturn is the worst this industry has faced in decades, and while we do not know when conditions will improve, we have begun to see signs that utilization rate declines are slowing and that we may be approaching a bottom. Accordingly, in this challenging environment, we are continuing to reduce costs, although certain costs are fixed and can't be reduced at the same pace as revenue."

6:07AM Lamar Advertising beats by $0.06, beats on revs; guides Q2 revs in-line (LAMR) 18.50 : Reports Q1 (Mar) loss of $0.23 per share, $0.06 better than the First Call consensus of ($0.29); revenues fell 12.6% year/year to $247.2 mln vs the $243.9 mln consensus. Co issues in-line guidance for Q2, sees Q2 revs of approx $275 mln vs. $276.02 mln consensus.

6:05AM SXC Health Solutions beats by $0.21, misses on revs; guides FY09 EPS above consensus, revs in-line (SXCI) 19.94 : Reports Q1 (Mar) earnings of $0.38 per share, excluding non-recurring items, $0.21 better than the First Call consensus of $0.17; revenues rose 1096.4% year/year to $291 mln vs the $306.5 mln consensus. Co issues mixed guidance for FY09, sees EPS of $1.13-1.21 (previous $0.99-1.08), excluding non-recurring items, vs. $0.83 consensus; sees FY09 revs of $1.25-1.35 bln (previous $1.2-1.3 bln) vs. $1.25 bln consensus.

6:02AM MetroPCS beats by $0.03, misses on revs; reaffirms (PCS) 18.44 : Reports Q1 (Mar) earnings of $0.12 per share, $0.03 better than the First Call consensus of $0.09; revenues rose 20.1% year/year to $795 mln vs the $818.5 mln consensus. Co reports Q1 consolidated net subscriber additions of approximately 684k. Co reaffirms guidance originally provided on November 5, 2008 that MetroPCS expected net subscriber additions in the range of 1.4 million to 1.7 million on a consolidated basis. The Company currently expects Consolidated Adjusted EBITDA to be in the range of $900 million to $1.1 billion for the year ending December 31, 2009.

5:13AM GMX Resources beats by $0.11, beats on revenue (GMXR) 16.94 : Reports Q1 (Mar) earnings of $0.06 per share, excludes items, $0.11 better than the First Call consensus of ($0.05); revenues declined 16.1% year/year to $22.83 mln vs the $19.31 mln consensus. GMXR produced 3.2 Bcfe in Q1 2009 as compared to 2.9 Bcfe in Q1 2008, a 10% increase. Sequentially production was down 3% from Q4 2008 to Q1 2009. The production decrease was attributable to the co's decision to switch from primarily drilling the Cotton Valley Sands to exclusively drilling the Haynesville/Bossier Shale. This transition is complete and production guidance for Q2 is 3.2 Bcfe and 14.9 Bcfe for all of 2009.

2:40AM ATP Oil & Gas beats by $0.40, misses on revs (ATPG) 8.84 : Reports Q1 (Mar) earnings of $0.05 per share, $0.40 better than the First Call consensus of ($0.35); revenues fell 63.9% year/year to $81.9 mln vs the $91.8 mln consensus. Oil and gas production for Q109 was 1.7 MMBoe (10.0 Bcfe) compared to 3.6 MMBoe (21.6 Bcfe) for Q108. Oil production was 0.9 MMBbls (55% of total production) and natural gas production was 4.5 Bcf for Q109, compared to 1.6 MMBbls (45% of total production) and 11.8 Bcfe for Q108.

2:06AM Kendle beats by $0.17, beats on revs (KNDL) 9.61 : Reports Q1 (Mar) earnings of $0.47 per share, excluding non-recurring items, $0.17 better than the First Call consensus of $0.30; revenues fell 5.3% year/year to $108.1 mln vs the $103.4 mln consensus. Co expects to take a one-time charge in Q209 for severance-related and other expenses in the range of $3.5-4.5 mln. Co anticipates these initiatives will generate savings of between $17.5-22.5 mln in 2H09.

1:39AM Tenaris misses by $0.06, misses on revs (TS) 28.07 : Reports Q1 (Mar) earnings of $0.62 per share, $0.06 worse than the First Call consensus of $0.68; revenues fell 6.7% year/year to $2.45 bln vs the $2.5 bln consensus. Net sales of tubular products and services decreased 3% to $2,105.8 mln in Q109, compared to $2,170.7 mln in Q108, as a 29% decrease in sales volume was largely offset by higher average selling prices. In North America, although shipments in Mexico remained stable, in the USA and Canada they were affected by the decline in drilling activity and the extraordinarily high levels of inventories mainly driven by Chinese OCTG imports. Sales in South America increased as higher average selling prices more than offset a decline in volumes sold. In Europe, sales were affected by continuing imports from China which are causing injury to the European pipe industry, a sharp decline in industrial activity, lower demand from distributors serving the process plant sector and lower sales of OCTG products.

Earnings - 5th March 2009

5:37PM Intrepid Potash reports EPS in-line, beats on revs (IPI) 17.04 -0.69 : Reports Q4 (Dec) earnings of $0.30 per share, in-line with the First Call consensus of $0.30; revenues rose 41.2% year/year to $79.5 mln vs the $77.7 mln consensus. The average net realized sales price for potash in Q4 2008 increased to $762 per short ton ($840 per metric tonne) compared to $224 per short ton ($247 per metric tonne) in the same period of 2007. Potash sales in the fourth quarter were 94,000 short tons compared to 215,000 short tons in the fourth quarter of 2007. Potash production in the quarter decreased to 201,000 short tons compared to 217,000 short tons produced in Q4 of 2007. Average net realized sales price for langbeinite, which we market under the registered name of Trio(R) increased to $323 per short ton ($356 per metric tonne) in the fourth quarter of 2008 compared to $137 per short ton ($151 per metric tonne) in the fourth quarter of 2007. Co says, "we are approaching 2009 thoughtfully and are focused on maintaining the strength of our balance sheet which allows us to retain a strong marketing position as it relates to the price of potash. We intend to accomplish this by managing production volumes and cash and by adjusting our capital programs appropriately throughout the year. Although we believe that long-term potash fundamentals are solid, we expect the near-term market conditions to remain erratic and unpredictable. The potash market will guide business decisions in 2009, specifically those related to production and capital allocation."

4:08PM Fuel Systems Solutions reports Q4 (Dec) results, misses on revs; guides FY09 revs below consensus (FSYS) 19.11 -0.38 : Reports Q4 (Dec) earnings of $0.04 per share, may not be comparable to the First Call consensus of $0.41. Net income for the fourth quarter of 2008 included a $1.1 million increase in the provision for the loan receivable from the company's unconsolidated WMTM joint venture, a $1.0 million in foreign currency exchange loss, a $900,000 increase in provision for accounts receivable, and $800,000 in costs related to the acquisition of DS; revenues rose 5.8% year/year to $84.3 mln vs the $91 mln consensus. Co issues downside guidance for FY09, sees FY09 revs of $330-360 mln vs. $418.54 mln consensus. As such, the company is targeting 2009 gross margin between 25.0% and 27.0% and 2009 operating margin to be between 10.0% and 12.0%.

4:07PM Union Drilling beats by $0.05, beats on revs (UDRL) 2.58 -0.39 : Reports Q4 (Dec) earnings of $0.19 per share, excluding non-recurring items, $0.05 better than the First Call consensus of $0.14; revenues rose 20.0% year/year to $80.9 mln vs the $78.8 mln consensus. "The severe decline in our stock price below book value per share over the last few months of 2008 required us to take an impairment charge for the $7.9 million of goodwill on our balance sheet, which resulted in Union Drilling reporting a net loss for the quarter. However, our conservative balance sheet and term contract cover provided us with the ability to take advantage of the depressed stock price through our share repurchase program. Approximately nine percent of the equity in the Company was purchased for less than the cost of a new drilling rig. We will continue to assess the merits of further share repurchases in this declining environment."

4:06PM ArcSight beats by $0.13, beats on revs; guides Q4 EPS in-line, revs above consensus; guides FY09 EPS above consensus, revs above consensus (ARST) 8.79 +0.15 : Reports Q3 (Jan) earnings of $0.21 per share, $0.13 better than the First Call consensus of $0.08; revenues rose 31.4% year/year to $36.4 mln vs the $32.7 mln consensus. Co issues mixed guidance for Q4, sees EPS of $0.09-0.15 vs. $0.10 consensus; sees Q4 revs of $34-38 mln vs. $33.84 mln consensus. Co issues upside guidance for FY09, sees EPS of $0.41-0.48 vs. $0.29 consensus; sees FY09 revs of $130.9-134.9 vs. $127.34 mln consensus. Co says, "Enterprises and govt agencies place great value on protecting their businesses, assets, and services whether in robust or difficult economic times. In our view, this important and resilient value proposition is supported by our continued strong growth in our first year as a public co."

4:02PM Cooper Cos beats by $0.14, beats on revs; guides FY09 EPS in-line, revs in-line (COO) 19.21 -0.95 : Reports Q1 (Jan) earnings of $0.53 per share, $0.14 better thanthe First Call consensus of $0.39; revenues rose 3.5% year/year to $251.1 mln vs the $245 mln consensus. Co issues in-line guidance for FY09, sees EPS of $2.16-$2.36 vs. $2.21 consensus; sees FY09 revs of $1.03-$1.10 bln vs. $1.07 bln consensus.

8:06AM Cornell Corr reports Q4 EPS of $0.50 vs $0.40 First Call consensus; revs of $101.5 mln vs $101.53 mln First Call consensus (CRN) 13.99 : Cornell Corr sees Q1 EPS of $0.30-0.34 vs $0.34 First Call consensus; Cornell Corr sees FY09 EPS of $1.64-1.72 vs $1.60 First Call consensus.

8:05AM Lincoln Educational Services beats by $0.07, beats on revs; guides Q1 EPS above consensus, revs above consensus; guides FY09 EPS above consensus, revs above consensus (LINC) 15.56 : Reports Q4 (Dec) earnings of $0.51 per share, excluding non-recurring items, $0.07 better than the First Call consensus of $0.44; revenues rose 18.8% year/year to $107.3 mln vs the $103.3 mln consensus. Co issues upside guidance for Q1, sees EPS of $0.05-0.07 vs. $0.01 consensus; sees Q1 revs of $112-114 mln vs. $103.39 mln consensus. Co issues upside guidance for FY09, sees EPS of $0.90-0.95 vs. $0.86 consensus; sees FY09 revs of $476-486 mln vs. $446.16 mln consensus.

8:03AM Western Refining beats by $0.08, misses on revs (WNR) 11.22 : Reports Q4 (Dec) earnings of $0.49 per share, excluding non-recurring items, $0.08 better than the First Call consensus of $0.41; revenues fell 31.5% year/year to $1.66 bln vs the $2.16 bln consensus. "Refining margins in our markets are typically weaker in the first quarter. However, they were strong in the months of January and February and we expect to have continued strong margins in our markets in the month of March as we move into the driving season... With the improvements we have made at our refineries and the robust margins we have experienced to date in the quarter, the first quarter of 2009 has the potential to be one of our most profitable quarters."

7:33AM China Security and Surveillance misses by $0.04, beats on revs; reaffirms FY09 EPS guidance, revs guidance (CSR) 3.11 : Reports Q4 (Dec) earnings of $0.49 per share, $0.04 worse than the First Call consensus of $0.53; revenues rose 70.4% year/year to $143.5 mln vs the $129.4 mln consensus. Co reaffirms guidance for FY09, sees EPS of $2.16-2.26 vs. $2.17 consensus; sees FY09 revs of $600-630 mln vs. $572.44 mln consensus. offerings. Co says "... while our pricing and profitability remain firm in the government sector, we nevertheless experienced price erosions in our corporate segment, due to higher emphasis on cost controls by many of our corporate customers. As such, while we continue to project healthy demand and revenue growth over the next 12 months, we are focused on further integrating our operations and generating greater synergies across our portfolio of technologies, products, and subsidiaries. We are also focused on increasing our manufacturing and administrative efficiencies through targeted cost savings initiatives.''

7:04AM Fuel-Tech misses by $0.01, beats on revs (FTEK) 8.28 : Reports Q4 (Dec) loss of $0.02 per share, $0.01 worse than the First Call consensus of ($0.01); revenues fell 44.4% year/year to $18.1 mln vs the $16.5 mln consensus. Co said, "While we are reasonably encouraged about our business prospects for 2009, especially in the wake of the re-instatement of CAIR and the resulting strong start to our 2009 APC orders, we are mindful of the severe economic stress on many of our customers. We believe that both our revenues and profits in 2009 will exceed our 2008 results, but we think it is just too early in the year for us to more definitively quantify those estimates in a meaningful way. We will consider providing more definitive estimates on our future quarterly earnings conference calls."

7:03AM Family Dollar reports February same-store sales increased 6.4%; sees Q2 EPS of $0.59-0.61 vs $0.51 First Call consensus (FDO) 27.27 :  

6:59AM SXC Health Solutions beats by $0.14, beats on revs; guides FY09 EPS above consensus, revs in-line (SXCI) 19.21 : Reports Q4 (Dec) earnings of $0.28 per share, excluding amortization of NMHC acquisiton, $0.14 better than the First Call consensus of $0.14; revenues rose 1143.2% year/year to $292.8 mln vs the $280.9 mln consensus. Co issues mixed guidance for FY09, sees EPS of $0.99-1.08 vs. $0.77 consensus; sees FY09 revs of $1.2-1.3 bln vs. $1.21 bln consensus. Co sees adjusted Ebitda of $51.0-54.0 mln.

6:06AM Urban Outfitters misses by $0.04, misses on revs (URBN) 15.97 : Reports Q4 (Jan) earnings of $0.24 per share, $0.04 worse than the First Call consensus of $0.28; revenues rose 9.2% year/year to $508.1 mln vs the $515.3 mln consensus. For Q4, gross profit margin declined by 555 basis points, vs the prior year's comparable period. This decrease is primarily due to a higher rate of applied and anticipated merchandise markdowns to clear seasonal inventory.

1:26AM Middleby beats by $0.15, misses on revs (MIDD) 21.47 : Reports Q4 (Dec) earnings of $1.04 per share, $0.15 better than the First Call consensus of $0.89; revenues rose 3.8% year/year to $151 mln vs the $161.1 mln consensus.