Earnings - 30th April 2009(1)

7:10AM Genesis Lease beats by $0.02, reports revs in-line (GLS) 3.77 : Reports Q1 (Mar) earnings of $0.28 per share, $0.02 better than the First Call consensus of $0.26; revenues rose 4.5% year/year to $57.1 mln vs the $56.9 mln consensus.

7:09AM Procter & Gamble beats by $0.04, misses on revs; guides FY09 EPS in-line (PG) 50.42 : Reports Q3 (Mar) earnings of $0.84 per share, $0.04 better than the First Call consensus of $0.80; revenues fell 8.0% year/year to $18.4 mln vs the $18.91 bln consensus. Co is comfortable with analysts' current consensus earnings per share estimate of $4.22, with a range of $4.20-4.25.  For the 2009 fiscal year, the Company expects organic sales to grow by two to three percent. Net sales are expected to be down two to four percent driven primarily by unfavorable foreign exchange of about five percent (consensus is for total revs to decline by ~3%). Operating margin, which includes about 50 basis points of incremental Folgers-related restructuring charges, is expected to be consistent with the prior fiscal year.

7:07AM China Security and Surveillance beats by $0.01, beats on revs; reaffirms FY09 EPS guidance, revs guidance (CSR) 6.05 : Reports Q1 (Mar) earnings of $0.30 per share,$0.01 better than the First Call consensus of $0.29; revenues rose 34.3% year/year to $96.4 mln vs the $87.6 mln consensus. Co reaffirms guidance for FY09, sees EPS of $2.16-2.26 vs. $2.11 consensus; sees FY09 revs of $600-630 mln vs. $601.21 mln consensus.

7:05AM Sepracor beats by $0.16, reports revs in-line; reaffirms FY09 EPS guidance, revs guidance (SEPR) 14.44 : Reports Q1 (Mar) earnings of $0.85 per share, excluding non-recurring items, $0.16 better than the First Call consensus of $0.69; revenues rose 2.9% year/year to $330.2 mln vs the $328.6 mln consensus. Co reaffirms guidance for FY09, sees EPS of $2.10-2.70, excluding non-recurring items, vs. $2.43 consensus; sees FY09 revs of $1.15-1.25 bln vs. $1.21 bln consensus.

7:04AM Digital Realty Trust beats by $0.03, beats on revs (DLR) 37.41 : Reports Q1 (Mar) funds from operations of $0.70 per share, $0.03 better than the First Call consensus of $0.67; revenues rose 30.2% year/year to $149.1 mln vs the $147.2 mln consensus.

7:02AM Natus Medical beats by $0.01, reports revs in-line; guides Q2 EPS below consensus, revs below consensus; guides FY09 EPS below consensus, revs below consensus (BABY) 8.50 : Reports Q1 (Mar) earnings of $0.03 per share, $0.01 better thanthe First Call consensus of $0.02; revenues fell 9.5% year/year to $33.4 mln vs the $33.3 mln consensus. Co issues downside guidance for Q2, sees EPS of $0.05-0.06 vs. $0.07 consensus; sees Q2 revs of $34.5-35.5 vs. $36.98 mln consensus. Co issues downside guidance for FY09, sees EPS of $0.31-0.34 vs. $0.37 consensus; sees FY09 revs of $143-146 vs. $151.69 mln consensus. "The severe worldwide economic downturn that started to impact our business in December 2008 continued to influence our results for the first quarter of 2009. In the quarter, we had been working on several large orders that were not placed as hospitals continue to reduce capital equipment expenditures. We believe that these orders have been pushed out and not lost. However, the exact timing of these orders remains uncertain."

7:02AM Colgate-Palmolive beats by $0.01, misses on revs (CL) 59.71 : Reports Q1 (Mar) earnings of $0.97 per share, $0.01 better than the First Call consensus of $0.96; revenues fell 5.7% year/year to $3.5 bln vs the $3.6 bln consensus. Co says "We are delighted to begin 2009 with continued strong top-line momentum with organic sales increasing 8.0%. Also, our gross margin, operating margin and net profit as a percent to sales increased during the quarter, despite difficult economic conditions worldwide. Our cost-cutting and efficiency programs as well as increased pricing more than offset the impact during the quarter of higher raw and packaging material costs worldwide and the strengthening dollar.... Looking ahead, we have a very full new product pipeline for the balance of the year, which should contribute to positive unit volume growth in the second quarter and for the full year. We expect our strong organic sales growth to continue, driven by both positive volume and higher pricing.... The benefits of recently easing commodity and oil prices have begun to flow through and should build as the year goes on. This, coupled with the higher pricing and our ongoing aggressive savings programs, should offset the expected impact of the stronger dollar on raw and packaging material costs, indicating that gross profit margin should increase as the year progresses and be up at least at the high end of our targeted range of 75 to 125 basis points for the full year 2009. Overall, we are comfortable with external profit expectations for both the second quarter and the year." (Briefing.com note: Q2 consensus is $1.05/3.769 bln and FY09 consensus is $4.21/15.079 bln)

6:38AM LKQ Corp beats by $0.02, reports revs in-line; guides FY09 EPS in-line (LKQX)16.35 : Reports Q1 (Mar) earnings of $0.23 per share, $0.02 better than the First Call consensus of $0.21; revenues rose 5.3% year/year to $518 mln vs the $522.6 mln consensus. Co issues in-line guidance for FY09, sees EPS of $0.80-0.86 vs. $0.82 consensus. Organic revenue growth, excluding Other Revenue which will continue to be impacted by weak commodity prices, is projected to grow at a rate of 6% to 8%. 

6:33AM Dow Chemical beats by $0.33, misses on revs (DOW) 13.51 : Reports Q1 (Mar) earnings of $0.12 per share, excluding excluding pretax charge of $19 mln for additional severance related to the fourth quarter of 2008 restructuring; $48 mln in pretax transaction costs related to the acquisition of Rohm and Haas Company; and the Company's $29 mln share of a restructuring charge recognized by Dow Corning Corporation, a 50% owned nonconsolidated affiliate of the Company, $0.33 better than the First Call consensus of ($0.21); revenues fell 38.7% year/year to $9.09 bln vs the $11.69 bln consensus. Co says "There are some signs that the pace of global economic decline is moderating. The broad diversity of Dow's product mix enables us to have better visibility on true market demand, especially in parts of the world, such as in China, where domestic stimulus programs are beginning to take hold. "Having said that, it's prudent to expect that 2009 will still be a recessionary year globally, and we are not counting on material improvements in economic conditions in the near term. We remain focused on managing what is in our control, namely reducing costs and capital spending, delivering on our action plan to de-leverage our balance sheet, and smoothly and successfully integrating Rohm and Haas into the new Dow. These actions are paramount to our long-term strategy to transform Dow into an earnings-growth company." Co reports volume declined 19% compared with the same quarter of 2008, while price was down 20%, reflecting the effects of the ongoing recessionary business climate and continued inventory de-stocking in most value chains.

6:33AM Strayer Education beats by $0.10, beats on revs; guides Q2 EPS above consensus (STRA) 178.96 : Reports Q1 (Mar) earnings of $2.07 per share, $0.10 better than the First Call consensus of $1.97; revenues rose 28.2% year/year to $124.5 mln vs the $122.8 mln consensus. Co issues upside guidance for Q2, sees EPS of $1.95-1.97 vs. $1.80 consensus. Enrollment at Strayer University for the 2009 spring term increased 22% to 46,038 students compared to 37,733 for the same term in 2008. Across the Strayer University campus and online system, new student enrollments increased 26%, while continuing student enrollments increased 21%. Global online students increased 40%. Students taking 100% of their classes online (including campus based students) increased 24%. The total number of students taking at least one class online increased 23%.

6:31AM Newell Rubbermaid beats by $0.12, reports revs in-line; guides Q2 EPS in-line; reaffirms FY09 EPS guidance (NWL) 8.67 : Reports Q1 (Mar) earnings of $0.20 per share, excluding non-recurring items, $0.12 better than the First Call consensus of $0.08; revenues fell 16.0% year/year to $1.2 bln vs the $1.19 bln consensus. Co issues in-line guidance for Q2, sees EPS of $0.30-0.37 vs. $0.33 consensus. Co reaffirms guidance for FY09, sees EPS of $1.00-1.25 vs. $1.00 consensus

6:24AM Newmont Mining beats by $0.02, beats on revs (NEM) 40.71 : Reports Q1 (Mar) earnings of $0.44 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.42; revenues fell 20.1% year/year to $1.55 bln vs the $1.4 bln consensus. Net cash provided from continuing operations was $387.0 mln. Equity gold sales were 1.27 mln ounces at an average realized gold price of $906 per ounce. Equity copper sales were 43 mln pounds at an average realized copper price of $1.69 per pound. Co maintains its previously announced 2009 equity gold sales outlook of between 5.2-5.5 mln ounces at costs applicable to sales of between $400 and $440 per ounce. Costs applicable to sales are expected to change by approx $6 per ounce for every $10 change in the oil price and by roughly $3 per ounce for every 0.10 change in the Australian dollar exchange rate for the remainder of the year.

6:23AM Hornbeck Offshore beats by $0.09, reports revs in-line; guides FY09 EPS in-line (HOS) 20.71 : Reports Q1 (Mar) earnings of $1.01 per share, $0.09 better than the First Call consensus of $0.92; revenues rose 12.4% year/year to $109.6 mln vs the $110.4 mln consensus. Co issues in-line guidance for FY09, sees EPS of 3.50-3.97, $3.86. excluding the recently adopted APB 14-1 non-cash OID interest expense vs. $3.53 consensus. Co says guidance assumes that current Upstream and Downstream market conditions remain constant. Fleetwide average new generation OSV dayrates are anticipated to be in the $20,000 to $22,000 range and fleetwide new generation OSV utilization is anticipated to average in the high-80% to low-90% range for the annual 2009 guidance period. The co expects that cash operating expenses per vessel-day in fiscal 2009 will not materially increase over fiscal 2008 levels, excluding contract-related costs recoverable through higher dayrates or other revenue. Annual G&A expenses are expected to be in the range of 9% to 10% of revenues for fiscal 2009. The projected annual FAS 123R stock-based compensation expense, depreciation, amortization and net interest expense that underpin the co's diluted EPS guidance for the full-year 2009 are included in the attached data tables. Projected quarterly FAS 123R stock-based compensation expense, depreciation, amortization and net interest expense for the quarter ending June 30, 2009 are expected to be $2.4 mln, $11.4 mln, $5.9 mln and $4.7 mln, respectively. The co's annual effective tax rate is expected to be 36.3% for fiscal 2009. The coexpects total maintenance capital expenditures for the full-year 2009 to be approximately $32.6 mln.

4:44AM Carbo Ceramics beats by $0.04, misses on revs (CRR) 36.72 : Reports Q1 (Mar) earnings of $0.70 per share, $0.04 better than the First Call consensus of $0.66; revenues rose 0.3% year/year to $90.6 mln vs the $98.3 mln consensus.

3:39AM NYSE Euronext beats by $0.04, misses on revs (NYX) 22.52 : Reports Q1 (Mar) earnings of $0.43 per share, excluding non-recurring items, $0.04 better than the First Call consensus of $0.39; revenues rose 0.2% year/year to $1.11 bln vs the $1.13 bln consensus. Q109 gross revenues were impacted by lower European cash and derivatives volumes, currency headwinds and structural changes to the U.S. cash pricing model which increased gross revenues.

3:33AM Taiwan Semi beats by $0.02, beats on revs, raises Q2 revenue guidance (TSM) 10.08 : Reports Q1 (Mar) earnings of $0.01 per ADR, $0.02 better than the First Call consensus of ($0.01); revenues fell 57.9% year/year to $1.16 bln vs the $1.1 bln consensus. Co issues upside guidance for Q2, sees revenue of NT$71.0-74.0 bln vs NT$45.44 bln consensus. Co expects gross profit margin of 43.5-45.5% and expects operating profit margin of 30.5-32.5%. Management expects 2009 capital expenditure of approx $1.5 bln.

2:06AM BioMed Realty beats by $0.06, beats on revs; guides FY09 FFO above consensus (BMR) 11.04 : Reports Q1 (Mar) funds from operations of $0.51 per share, excluding non-recurring items, $0.06 better than the First Call consensus of $0.45; revenues rose 39.4% year/year to $94 mln vs the $84.8 mln consensus. Co issues upside guidancefor FY09, sees FFO of $1.72-1.82 vs. $1.67 consensus.

1:58AM Boston Prpts beats by $0.11, beats on revs; guides Q2 FFO above consensus; guides FY09 FFO in-line (BXP) 48.49 : Reports Q1 (Mar) funds from operations of $1.36 per share, excluding non-recurring items, $0.11 better than the First Call consensus of $1.25; revenues rose 1.6% year/year to $377.5 mln vs the $365.9 mln consensus. Co issues upside guidance for Q2, sees FFO of $1.26-1.28 vs. $1.19 consensus. Co issues in-line guidance for FY09, sees FFO of $4.65-4.80 vs. $4.77 consensus.

1:46AM FMC Tech misses by $0.07, issues in-line FY09 EPS guidance (FTI) 35.94 : Reports Q1 (Mar) earnings of $0.56 per share, $0.07 worse than the First Call consensus of 0.63; revneues increased 1.2% year/year to $1.053 bln vs $1.087 bln First Call consensus. Energy Production Systems' operating profits were up 10% over the Q108. The total co backlog was $3.4 bln at the end of the quarter. Co issues in-line guidance for FY09, sees EPS of $2.40-2.50 vs $2.40 First Call consensus.

Earnings - 23rd July 2008 (1)

8:15AM Lincoln Electric beats by $0.24, beats on revs (LECO) 74.43 : Reports Q2 (Jun) earnings of $1.62 per share, $0.24 better than the First Call consensus of $1.38; revenues rose 19.3% year/year to $699.8 mln vs the $663.6 mln consensus.

8:13AM Affiliated Managers beats by $0.02, misses on revs (AMG) 86.13 : Reports Q2 (Jun) earnings of $1.43 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $1.41; revenues fell 6.8% year/year to $309 mln vs the $313.7 mln consensus. "Looking ahead, our pipeline of prospective new Affiliate investments continues to be very strong. Our proven track record of successful investments and established reputation as the partner of choice for growing boutique firms makes our competitive position stronger than ever. With our substantial financial capacity to execute upon the opportunities before us, we are uniquely well-positioned to generate meaningful incremental growth in earnings through accretive investments in outstanding boutique asset management firms."

8:07AM McDonald's beats by $0.08, beats on revs; reports global comparable sale +6.1% (MCD) 60.12 : Reports Q2 (Jun) earnings of $0.94 per share, excluding non-recurring items, $0.08 better than the First Call consensus of $0.86; revenues rose 4.0% year/year to $6.08 bln vs the $5.92 bln consensus. MCD reports global comparable sales increased 6.1%.

8:05AM Peabody Energy beats by $0.35; guides Q3 EPS in-line; guides FY08 EPS in-line (BTU) 65.03 : Reports Q2 (Jun) earnings of $0.89 per share, $0.35 better than the First Call consensus of $0.54; revenues rose 43.2% year/year to $1.53 bln vs the $1.5 bln consensus. Co issues in-line guidance for Q3, sees EPS of $0.80-1.05 vs. $0.87 consensus. Co issues in-line guidance for FY08, sees EPS of $2.50-3.00 vs. $2.58 consensus. Full-year EBITDA is now targeted to be $1.6-1.8 bln. The company is reaffirming production volume targets of 220 to 240 million tons with sales of 240 to 260 million tons, including 22 to 24 million tons in Australia.

8:01AM Palomar Medical expands its product portfolio through a distribution agreement with Astron Clinica (PMTI) 12.15 : Co announces that it has entered into a Distribution Agreement with Astron Clinica to distribute a range of aesthetic imaging products in the United States and Canada. The agreement gives Palomar exclusive distribution rights to sell Beau Visage, a clinically proven skin imaging and consultation system, to medical professionals.

7:59AM Ryder System beats by $0.06, beats on revs; guides Q3 EPS in-line; narrows FY08 EPS guidance (R) 75.09 : Reports Q2 (Jun) earnings of $1.22 per share, excluding non-recurring items, $0.06 better than the First Call consensus of $1.16; revenues rose 0.1% year/year to $1.66 bln vs the $1.6 bln consensus. Co issues in-line guidance for Q3, sees EPS of $1.25-1.30 vs. $1.27 consensus. Co issues in-line guidance for FY08, sees EPS of $4.60-4.70 vs. $4.68 consensus, prior guidance $4.55-4.75.

7:48AM Allegheny Tech beats by $0.01, beats on revs; guides FY08 EPS below consensus (ATI) 54.62 : Reports Q2 (Jun) earnings of $1.55 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $1.54; revenues fell 0.7% year/year to $1.46 bln vs the $1.41 bln consensus. Co issues downside guidance for FY08, sees EPS of $5.80-6.10 vs. $6.42 consensus. Co says demand for its titanium alloys, nickel-based superalloys, and specialty alloys was good for jet engine applications. Demand for its airframe titanium alloys was steady. Demand for its exotic alloys was strong from the chemical process industry and is growing from the nuclear energy market.
7:44AM AT&T reports EPS in-line, revs in-line (T) 31.82 : Reports Q2 (Jun) earnings of $0.76 per share, excluding non-recurring items, in-line with the First Call consensus of $0.76; revenues rose 4.7% year/year to $30.87 bln vs the $31.15 bln consensus. Co reports consolidated operating income margin expansion to 21.3% reported from 16.8% in the year-earlier quarter and 25.1% adjusted versus 23.9%. Co reports 15.8% increase in wireless revenues with wireless data revenues from areas such as Internet access, messaging and e-mail up a robust 52.0%. Reports more than 1.3 mln net gain in wireless subscribers to reach 72.9 mlnin service; postpaid subscriber churn down to 1.1%, lowest level in company's history. Co reports 16.1% growth in wireline IP data revenue. AT&T U-verse net subscriber gain of 170,000 to reach 549,000 in service; on trajectory to exceed 1 million subscribers in service by the end of this year.


7:36AM General Dynamics beats by $0.16, beats on revs; guides FY08 EPS above consensus (GD) 83.45 : Reports Q2 (Jun) earnings of $1.60 per share, $0.16 better than the First Call consensus of $1.44; revenues rose 10.8% year/year to $7.30 bln vs the $7.23 bln consensus. Co issues upside guidance for FY08, sees EPS of $6.00-6.05 vs. $5.91 consensus. Co says cash generation was exceptionally strong and the robust backlog suggests continued healthy demand for each business area. Growth in the Aerospace backlog is a reflection of continued demand for the entire existing product line and extremely strong demand for the new Gulfstream G650. Co says it is very pleased to see this interest in the new plane.

7:04AM PepsiCo beats by $0.03, beats on revs; guides FY08 EPS in-line (PEP) 66.19 +1.74 : Reports Q2 (Jun) earnings of $1.05 per share, $0.03 better than the First Call consensus of $1.02; revenues rose 13.9% year/year to $10.95 bln vs the $10.55 bln consensus. Co issues in-line guidance for FY08, sees EPS of at least $3.72 vs. $3.73 consensus and low-double-digit net revenue growth (including acquisitions and foreign exchange).

7:03AM Wyeth beats by $0.04, beats on revs; guides FY08 EPS above consensus (WYE) 44.68 : Reports Q2 (Jun) earnings of $0.91 per share, excluding non-recurring items, $0.04 better than the First Call consensus of $0.87; revenues rose 5.3% year/year to $5.95 bln vs the $5.69 bln consensus. Co issues upside guidance for FY08, sees EPS of $3.47-3.55, excluding non-recurring items, compared to previous guidance of $3.35-3.42, vs. $3.45 consensus.

7:01AM Philip Morris International beats by $0.03; guides FY08 EPS above consensus (PM) 52.05 : Reports Q2 (Jun) earnings of $0.86 per share, $0.03 better than the First Call consensus of $0.83; net revenues rose 15.0% year/year to $6.71 bln. Co issues upside guidance for FY08, sees EPS of $3.32-3.38, excluding non-recurring items, compared to previous guidance of $3.18-3.24, vs. $3.25 consensus.

6:08AM Praxair beats by $0.02, beats on revs; guides in-line; authorizes $1 bln buyback (PX) 91.95 : Reports Q2 (Jun) earnings of $1.08 per share, $0.02 better than the First Call consensus of $1.06; revenues rose 23.4% year/year to $2.88 bln vs the $2.72 bln consensus. Co issues in-line guidance for Q3, sees EPS of $1.06-1.10 vs. $1.08 consensus. Co issues in-line guidance for FY08, sees EPS of $4.20-4.30 vs. $4.24 consensus. Co also announces that the board has authorized a new repurchase program for up to $1 bln of its common stock.

6:06AM Air Products beats by $0.01, beats on revs; guides Q4 EPS above consensus (APD) 98.68 : Reports Q3 (Jun) earnings of $1.32 per share, excluding impairment charge and income from discontinued operations, $0.01 better than the First Call consensus of $1.31; revenues rose 16.2% year/year to $2.81 bln vs the $2.71 bln consensus. Co issues upside guidance for Q4, sees EPS of $1.37-1.42 vs. $1.35 consensus.

6:05AM Whirlpool beats by $0.16, reports revs in-line; reaffirms FY08 EPS guidance (WHR) 68.15 : Reports Q2 (Jun) earnings of $1.53 per share, $0.16 better than the First Call consensus of $1.37; revenues rose 4.6% year/year to $5.08 bln vs the $5.03 bln consensus. Co reaffirms guidance for FY08, sees EPS of $7.00-7.50 vs. $6.71 consensus. The company continues to expect full-year 2008 industry unit shipments to increase 5 percent to 10 percent from 2007 levels.

6:03AM WellPoint beats by $0.08, reports revs in-line; guides FY08 EPS in-line (WLP) 48.75 : Reports Q2 (Jun) earnings of $1.44 per share, $0.08 better than the First Call consensus of $1.36; revenues rose 3.1% year/year to $15.48 bln vs the $15.61 bln consensus. Co issues in-line guidance for FY08, sees EPS of $5.42-5.57 vs. $5.48 consensus.

2:28AM CNH Global beats by $0.33, beats on revs; guides FY08 EPS above consensus (CNH) 31.00 : Reports Q2 (Jun) earnings of $1.48 per share, excluding non-recurring items, $0.33 better than the First Call consensus of $1.15; revenues rose 28.9% year/year to $5.28 bln vs the $4.85 bln consensus. Co issues upside guidance for FY08, sees EPS of $3.40-3.60, excluding non-recurring items, vs. $3.37 consensus.

2:16AM Panera Bread beats by $0.06, reports revs in-line; guides Q3 EPS above consensus; guides Q4 (Dec) EPS in-line; guides FY08 EPS above consensus (PNRA) 51.00 : Reports Q2 (Jun) earnings of $0.55 per share, excluding unfavorable tax adjustment and write-down, $0.06 better than the First Call consensus of $0.49; revenues rose 26.8% year/year to $320.9 mln vs the $318.6 mln consensus. Co issues upside guidance for Q3, sees EPS of $0.42-0.44 vs. $0.41 consensus. Co issues in-line guidance for Q4 (Dec), sees EPS of $0.82-0.86 vs. $0.84 consensus. Co issues upside guidance for FY08, sees EPS of $2.17-2.23 vs. $2.15 consensus. Comparable co-owned bakery-cafe sales increased 6.5% in Q2 and comparable bakery-cafe sales in franchise-operated bakery-cafes increased 4.8% in Q2. Co believes that estimates reflecting a growth rate for FY09 of >20% aren't prudent at this time given anticipated commodity cost inflation of 5% to 6%.

1:02AM Boston Prpts beats by $0.04, beats on revs; guides Q3 FFO above consensus; guides FY08 FFO above consensus (BXP) 99.88 : Reports Q2 (Jun) funds from operations of $1.21 per share, $0.04 better than the First Call consensus of $1.17; revenues fell 1.0% year/year to $368.5 mln vs the $364.1 mln consensus. Co issues upside guidance for Q3, sees FFO of $1.22-1.23 vs. $1.19 consensus. Co issues upside guidance for FY08, sees FFO of $4.86-4.92 vs. $4.68 consensus.

12:00AM CEMEX S.A. misses by $0.14, reports revs in-line (CX) 23.29 : Reports Q2 (Jun) earnings of $0.59 per share, $0.14 worse than the First Call consensus of $0.73; revenues rose 29.2% year/year to $6.35 bln vs the $6.38 bln consensus.