Earnings - 7th May 2009 (2)

5:10PM Intrepid Potash beats by $0.07, beats on revs (IPI) 26.14 -0.67 : Reports Q1 (Mar) earnings of $0.33 per share, $0.07 better than the First Call consensus of $0.26; revenues rose 5.3% year/year to $88.9 mln vs the $72.2 mln consensus. Potash sales in the first quarter were 99,000 short tons compared to 213,000 short tons in the first quarter of 2008. Potash production in the quarter decreased to 137,000 short tons compared to 224,000 short tons produced in Q1 of 2008. The average net realized sales price for potash in Q1 2009 increased to $727 per short ton ($802 per metric tonne) compared to $295 per short ton ($325 per metric tonne) in the same period of 2008. This was a decrease from the $762 per short ton in Q4 2008. During Q1 of 2009, Intrepid produced 137,000 short tons of potash and sold 99,000 short tons of potash. This compares to 224,000 short tons produced and 213,000 short tons sold in the first quarter of 2008. profitability. Co says, "While we did see a slight increase in sales volumes from Q4 of 2008, the key factors leading to lower potash demand remained during Q1 of 2009, including overall pressure on commodity prices, volatile input pricing for the farm producer, buyer hesitation to purchase potash while priced above nitrogen and phosphate, and significant uncertainty due to the economy. Furthermore, wet weather in April for many planting regions in the United States has caused a delay in fertilizer applications by several weeks and has further slowed the destocking process at the dealer level. We expect that the current market trends will persist at least through Q2 of 2009, and potentially longer. Further, we anticipate that the application rates for potash fertilizers will decline in 2009, relative to 2008, but we also do not expect this decline to be permanent as fertilizer plays a vital role in ensuring that world agricultural production meets the needs of a growing population. We believe that once dealer inventories clear, dealers will be more cautious in re-stocking to normal summer levels in an effort to keep their inventories low."

4:33PM Emergent Biosolutions beats by $0.22, beats on revs; guides FY09 revs in-line (EBS) 9.62 -0.08 : Reports Q1 (Mar) earnings of $0.35 per share, $0.22 better than the First Call consensus of $0.13; revenues rose 51.0% year/year to $64.5 mln vs the $48.7 mln consensus. Co issues in-line guidance for FY09, sees FY09 revs of $225-240 mln vs. $227.95 mln consensus. Co says results were primarily driven by increased sales of BioThrax.

4:22PM American Public Education beats by $0.03, beats on revs; guides Q2 and FY09 in-line (APEI) 34.12 -0.48 : Reports Q1 (Mar) earnings of $0.28 per share, $0.03 better than the First Call consensus of $0.25; revenues rose 42.7% year/year to $33.2 mln vs the $32.8 mln consensus. Co issues in-line guidance for Q2, sees EPS of $0.25-0.27 vs. $0.27 consensus; sees Q2 revs of $33.8-35.0 mln vs. $34.93 mln consensus. Co issues in-line guidance for FY09, sees EPS of $1.19-1.26 vs. $1.21 consensus; sees FY09 revs of $147-151 mln vs. $150.51 mln consensus. Net Q1 course registrations rose 41% yr/yr to 46,650. Net course registrations from new students rose 40% yr/yr to 10,500. As of March 31, a total of 49,600 students were enrolled.

4:21PM Perini beats by $0.10, beats on revs; reaffirms FY09 EPS in-line, revs in-line (PCR) 18.92 -0.02 : Reports Q1 (Mar) earnings of $0.80 per share, $0.10 better than the First Call consensus of $0.70; revenues rose 20.9% year/year to $1.52 bln vs the $1.48 bln consensus. Co reaffirms in-line guidance for FY09, sees EPS of $2.60-2.80 vs. $2.68 consensus; sees FY09 revs of $5.5-6.0 bln vs. $5.48 bln consensus.

4:18PM Air Methods beats by $0.16, beats on revs (AIRM) 26.14 -1.00 : Reports Q1 (Mar) earnings of $0.41 per share, $0.16 better than the First Call consensus of $0.25; revenues rose 5.6% year/year to $124.7 mln vs the $118.2 mln consensus. The co also provided an update on April 2009 flight volume. Total community-based transports were 3,453 during April 2009 compared with 3,723 in April 2008. April 2009 community-based transports for bases open greater than one year decreased by 97 transports, or 2.9%, as compared with April 2008. Weather cancellations during April 2009 for these same bases were mostly unchanged as compared with the prior-year month, decreasing by 14.\

4:07PM Blue Nile beats by $0.03, beats on revs (NILE) 44.58 +0.39 : Reports Q1 (Mar) earnings of $0.13 per share, $0.03 better than the First Call consensus of $0.10; revenues fell 11.4% year/year to $62.4 mln vs the $58.3 mln consensus. "Consistent with last quarter, we are not providing specific financial guidance due to the continued uncertainty surrounding the economic environment and consumer spending. However, on a directional basis, we want to provide some context for our view on the full year. Sales trends improved in the first quarter compared to the fourth quarter of 2008, and we anticipate further improvement as we progress through 2009 with an expectation that the fourth quarter will post a year-over-year sales increase. Additionally, we expect non-GAAP adjusted EBITDA for 2009 to exceed last year's level. Finally, we anticipate that free cash flow for the full year will be significantly higher than the $11.8 million reported in the first quarter on a trailing twelve month basis,"

4:07PM Fuel Systems Solutions beats by $0.23, beats on revs; guides FY09 revs in-line (FSYS) 17.01 -0.70 : Reports Q1 (Mar) earnings of $0.44 per share, $0.23 better thanthe First Call consensus of $0.21; revenues fell 15.3% year/year to $80.1 mln vs the $74.4 mln consensus. Co issues in-line guidance for FY09, sees FY09 revs of $330-360 mln vs. $342.31 mln consensus.

4:07PM PDL BioPharma misses by $0.01, beats on revs; guides FY09 revs in-line (PDLI) 7.10 -0.09 : Reports Q1 (Mar) earnings of $0.23 per share, $0.01 worse than the First Call consensus of $0.24; revenues rose 24.7% year/year to $62.6 mln vs the $60 mln consensus. Co issues in-line guidance for FY09, sees FY09 revs of $310-325 mln vs. $318.57 mln consensus. Net income after taxes for 2009 continues to be projected in the range of $185 to $200 mln and cash generated in 2009 still is expected to be in the range of $260 to $280 mln.

4:06PM Thoratec beats by $0.06, beats on revs (THOR) 31.00 +1.29 : Reports Q1 (Mar) earnings of $0.22 per share, excluding non-recurring items, $0.06 better than the First Call consensus of $0.16; revenues rose 38.9% year/year to $89.5 mln vs the $83.3 mln consensus.  Co says it continued its impressive performance of 2008 into Q1 with expanded market penetration of its HeartMate II. Growth was driven by continued adoption for Bridge-to-Transplantation (BTT) and enrollment in its Destination Therapy (DT) trial. Co also added four HeartMate II centers during the quarter. Co hopes to achieve DT approval by early 2010.

4:06PM Millipore beats by $0.22, beats on revs; guides FY09 EPS above consensus (MIL) 58.79 -0.01 : Reports Q1 (Mar) earnings of $1.06 per share, $0.22 better than the First Call consensus of $0.84; revenues rose 3.0% year/year to $407.9 mln vs the $389.7 mln consensus. Co raises its EPS range for FY09, now sees EPS of $3.75-$3.90 (vs. $3.74 consensus), up from the previous range of $3.70-$3.85.

4:04PM Clean Energy Fuels beats by $0.01, beats on revs (CLNE) 8.71 -0.20 : Reports Q1 (Mar) loss of $0.06 per share, excluding non-recurring items, $0.01 better than the First Call consensus of ($0.07); revenues rose 1.0% year/year to $30.2 mln vs the $29.4 mln consensus

4:03PM Coinstar beats by $0.07, beats on revs; guides Q2 EPS in-line, revs slightly above; reaffirms FY09 revs guidance (CSTR) : Reports Q1 (Mar) earnings of $0.14 per share, excluding non-recurring items, $0.07 better than the First Call consensus of $0.07; revenues rose 42.4% year/year to $271.2 mln vs the $261.9 mln consensus. Co sees Q2 GAAP EPS of $0.14-0.20, vs $0.17 consensus; sees revs of $300-310 mln vs $299.4 mln consensus. Co reaffirms guidance for FY09, sees FY09 revs of $1.2-1.3 bln vs. $1.24 bln consensus.

8:34AM Frontier Oil beats by $0.37, beats on revs (FTO) 15.39 : Reports Q1 (Mar) earnings of $0.70 per share, including inventory and hedging gains, $0.37 better than the First Call consensus of $0.33; revenues fell 28.7% year/year to $846.2 mln vs the $836.2 mln consensus. Co says, "Our first quarter financial performance provided a strong start in what we expect to be a challenging year for the refining sector. Gasoline demand appears to have stabilized or marginally improved, while distillate consumption continues to weaken with the economy. We are hopeful that the U.S. driving season will provide a seasonal boost, but we do not foresee significant improvement in demand or product margins without an accompanying U.S. economic recovery."

8:33AM Alexandria RE beats by $0.40, beats on revs; guides FY09 FFO slightly below consensus (ARE) 37.95 : Reports Q1 (Mar) funds from operations of $1.89 per share, $0.40 better than the First Call consensus of $1.49; revenues rose 21.2% year/year to $132.8 mln vs the $113.4 mln consensus. Co issues downside guidance for FY09, sees FFO of $5.43 vs. $5.44 consensus.

8:32AM Dawson Geophys. beats by $0.22, beats on revs (DWSN) 21.69 : Reports Q2 (Mar) earnings of $0.79 per share, $0.22 better than the First Call consensus of $0.57; revenues fell 17.6% year/year to $64.6 mln vs the $61.3 mln consensus. "The company's second quarter results reflect a significant decrease in domestic exploration activities by the company's clients. Revenues in the second quarter of fiscal 2009 continued to include relatively high third-party charges related to the use of helicopter support services, specialized survey technologies and dynamite energy sources."

8:32AM Smart Balance beats by $0.02, beats on revs (SMBL) 7.38 : Reports Q1 (Mar) earnings of $0.02 per share, $0.02 better than the First Call consensus of ($0.00); revenues rose 23.2% year/year to $62.6 mln vs the $59.4 mln consensus. "Smart Balance's outlook for the first half of 2009 percentage growth in net sales versus 2008 is high teens to mid-twenties. The Company expects continued volume growth led by increased distribution and new products in spreads, peanut butter, cooking oil and popcorn, as well as expansion of its milk products. The food industry is experiencing uncertainty in 2009 around consumer reaction to the economy, potentially delaying trial by prospective consumers of the Company's premium-priced products. Gross profit as a percent of net sales is expected to improve to 45%+ in 2009 as input costs for the year are expected to be lower than 2008. Marketing investments will increase in 2009 versus 2008 as the Company will continue to aggressively support its core user base and develop awareness among new consumers."

Earnings - 13th Aug 2008

6:09PM Netease.com beats by $0.10, beats on revs (NTES) 24.05 +1.36 : Reports Q2 (Jun) earnings of $0.49 per share, $0.10 better than the First Call consensus of $0.39; revenues rose 9.5% year/year to $104 mln vs the $99 mln consensus.

6:06PM Ctrip.com beats by $0.05, beats on revs; guides Q3 revs; Board approves $15 shrae repurchase (CTRP) 43.20 -2.59 : Reports Q2 (Jun) earnings of $0.25 per share, $0.05 better than the First Call consensus of $0.20; revenues rose 30.0% year/year to $55 mln vs the $53.8 mln consensus. For the third quarter of 2008, Ctrip expects the year-on-year net revenue growth rate to be in the range of 15-20%. The board of directors has approved a share repurchase program, which is subject to shareholder approval during CTRP's annual general meeting currently scheduled in September 2008. The board has authorized CTRP to repurchase, using funds from CTRP's available cash balance, up to US$15 mln worth of its own ADSs.

4:09PM Network Appliance reports EPS in-line, revs in-line; issues Q2 guidance, announces $1 bln share repurchase program (NTAP) 25.69 -0.62 : Reports Q1 (Jul) earnings of $0.22 per share, in-line with the First Call consensus of $0.22; revenues rose 26.1% year/year to $869 mln vs the $861.6 mln consensus. Co issues guidance for Q2, sees EPS of $0.27-0.30 vs. $0.30 consensus; sees Q2 revs of $910-940 vs. $918.19 mln consensus. Additionally, the co announced a $1 bln share repurchase program. "Our new fiscal year got off to a good start, and our efforts to increase awareness and sales capacity in order to secure new customers are delivering results... Despite economic uncertainty, customers have continued to expand and evolve their storage infrastructure and are looking to NetApp to help them reduce costs and enable new capabilities."
4:06PM Clean Energy Fuels beats by $0.06, beats on revs (CLNE) 14.70 +0.43 : Reports Q2 (Jun) loss of $0.05 per share, $0.06 better than the First Call consensus of ($0.11); revenues rose 12.7% year/year to $34.6 mln vs the $33.8 mln consensus. "As we expected, our financial performance in the first half of 2008 was hampered by the combination of the loss of a few non-core customers, the impact of higher natural gas prices on our fixed-price customer contracts, and the long lead time for our key Port project to translate into gallons and revenue. With that said, we continue to see our pipeline grow and remain optimistic about the outlook for natural gas as a vehicle fuel," said Andrew J. Littlefair, Clean Energy's President and Chief Executive Officer. "We believe Clean Energy stands to benefit from the momentum generated from energy issues coming to the forefront in the U.S. There is proposed legislation in Congress promoting natural gas as a transportation fuel and we are seeing an increasing number of grants providing incentives to switch to natural gas fueling solutions. Highlighting Clean Energy's industry leadership, we recently teamed up with General Motors Corp. to open a hydrogen fueling station at our Clean Energy natural gas fueling station at the Los Angeles International Airport."

8:06AM Macy's beats by $0.10, reports revs in-line; guides FY09 EPS below consensus (M) 20.27 : Reports Q2 (Jul) earnings of $0.29 per share, excluding non-recurring items, $0.10 better than the First Call consensus of $0.19; revenues fell 3.0% year/year to $5.72 bln vs the $5.76 bln consensus. Co issues downside guidance for FY09, sees EPS of $1.70-1.85, excluding non-recurring items, vs. $1.86 consensus. The first Q2 non-recurring item relates to the consolidation of three Macy's divisions announced in February 2008, which is expected to save approximately $100 million per year beginning in 2009. In the second quarter of 2008, the company booked consolidation costs of $26 million ($17 million after tax or 4 cents per diluted share). Second quarter 2008 results also include non-cash asset impairment charges of $50 million ($31 million after tax or 8 cents per diluted share) related to private brand tradenames acquired in the merger with The May Department Stores Company in 2005... Macy's, Inc. currently expects same-store sales in the fall season to be flat to down 1 percent, which would result in fiscal 2008 same-store sales of down 1 percent to down 1.6 percent.

7:39AM KHD Humboldt Wedag beats by $0.13, misses on revs, issues inline FY08 EPS guidance (KHD) 26.60 : Reports Q2 (Jun) earnings of $0.63 per share, excluding items, $0.13 better than the single analyst estimate of $0.50; revenues fell 9.6% year/year to $144.2 mln vs the $189.80 mln single analyst estimate. Co issues in-line guidance, sees FY08 EPS of $2.05-$2.15 vs single analyst estimate of $2.12, and sees order intake to increase to $1.1 bln. The co's order backlog is $1.3 bln, up 96% yr/yr, with 41% from Russia and Eastern Europe, 26% from the Middle East and 26% from Asia. Order intake for Q2 was $320.1 mln, up 105% yr/yr, with 53% coming from the emerging markets of Russia and Eastern Europe and 31% from Asia.

7:16AM Liz Claiborne beats by $0.09, reports revs in-line; guides Q3 EPS below consensus (LIZ) 14.91 : Reports Q2 (Jun) earnings of $0.09 per share, excluding non-recurring items, $0.09 better than the First Call consensus of ($0.00); revenues fell 7.1% year/year to $973.8 mln vs the $970.4 mln consensus. Co issues downside guidance for Q3, sees EPS of $0.37-0.42 vs. $0.58 consensus. Co narrow guidance rannge for FY08, to EPS of $1.40-1.50 from $1.40-1.60 vs. $1.39 consensus.

7:07AM Canadian Solar reports Q2 (Jun) results, beats on revs; guides Q3 revs in-line; guides FY08 revs in-line (CSIQ) 30.91 : Reports Q2 (Jun) earnings of $0.36 per share, includes one-time non-cash debt conversion chrage of $10.2 mln, may not be comparable to the First Call consensus of $0.47; revenues rose 251.9% year/year to $212.6 mln vs the $206.8 mln consensus. Co issues in-line guidance for Q3, sees Q3 revs of $245-255 mln vs. $247.63 mln consensus. Co issues in-line guidance for FY08, sees FY08 revs of $850-970 mln vs. $908.93 mln consensus. "Based on current sales and supply agreements and market forecasts, we reiterate our 2009 shipment target of 500 - 550MW. The 2009 target includes about 400 MW of regular solar modules and 100 - 150 MW of e- Modules." "Shipments for Q308 are expected to be approximately 60 MW."

7:04AM Deere misses by $0.04 (DE) 69.35 : Reports Q3 (Jul) earnings of $1.32, $0.04 worse than the First Call consensus of $1.36; revenues rose 18.1% year/year to $7.07 bln vs the $7.23 bln consensus. Company equipment sales are projected to increase by about 21 percent for the full year and 29 percent for the fourth quarter of 2008. Included in the forecast is about 5 percent of currency translation impact for the year and about 3 percent for the quarter. Deere's net income is forecast to be about $425 million for the fourth quarter. Escalating raw material costs are expected to have an impact on margins for the quarter.

6:33AM Gildan Activewear beats by $0.01, beats on revs; reaffirms FY08 EPS guidance (GIL) 27.73 : Reports Q3 (Jun) earnings of $0.46 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.45; revenues rose 30.6% year/year to $380.8 mln vs the $355.6 mln consensus. Co reaffirms guidance for FY08, sees EPS of $1.45-1.50 vs. $1.48 consensus.

5:25AM Toll Brothers reports preliminary Q308 totals for home building revenues, backlog and contracts (TOL) 20.64 : Co reports that, for Q308 ending July 31, 2008, home building revenues were approx $796.5 mln, backlog was approx $1.75 bln and net signed contracts were approx $469.7 mln. These totals represented declines of 34%, 52% and 35%, respectively, in dollars, and 31%, 48% and 27%, respectively, in units, compared to Q307 results.

5:22AM Pan Am Silver misses by $0.02, beats on revs (PAAS) 25.20 : Reports Q2 (Jun) earnings of $0.31 per share, excluding non-recurring items, $0.02 worse than the First Call consensus of $0.33; revenues rose 31.4% year/year to $104.1 mln vs the $99 mln consensus.

3:20AM LDK Solar signs five-year wafer supply agreement with LX Telecom & Energy (LDK) 39.37 : Co signs a five-year contract to supply multicrystalline solar wafers to India-based XL Telecom & Energy. Under the terms of the agreement, LDK Solar will deliver approx 300 MW of multicrystalline silicon solar wafers to XL Telecom & Energy Limited over a five-year period, commencing in Q109 and extending through 2013.

3:14AM ING Group posts EUR 1.9 bln underlying net profit in Q2 (ING) 34.09 : Co reports underlying net profit of EUR 1,946 mln, down 28.8% from 2Q07 on lower investment income. Net EPS down 20.3% to EUR 0.94; EUR 5 bln share buyback added EUR 0.05 per share. Lower real estate & private equity valuations, lower equity capital gains account for EUR 754 mln net decline.

3:12AM Cellcom Israel reports Q208 results (CEL) 33.16 : Reports Q2 (Jun) earnings of $0.69 per share, $0.04 better than the First Call consensus of $0.65; revenues increased 9.9% year/year to $477 mln vs the $445.63 mln consensus.


1:09AM GeoEye restates financial statements for YE2005, 2006 and 2007 and for quarters ended Sept. 30, 2007 and March 31, 2008 (GEOY) 24.53 : Co restates its financial statements for the years ended December 31, 2005, 2006 and 2007 and quarterly information for such periods and for each of the quarters ended September 30, 2007 and March 31, 2008, for the following reasons: As part of the NextView program, the National Geospatial-Intelligence Agency agreed to pay approx $237 mln to share the cost of constructing the co's GeoEye-1 satellite. Additionally, co reports a decrease income tax expense and related tax liabilities from the amounts reported on the 2007 Form 10-K because the previously identified ownership change occurred earlier than previously reported and thus eliminated fewer net operating losses. Finally, co identified a decrease of $3.0 mln in direct expenses in 2007 due to an overstatement of imagery purchased from third parties associated with imagery sales in 2007.

1:03AM GeoEye reports Q208 results (GEOY) 24.53 : Reports Q2 (Jun) earnings of $0.12 per share, $0.01 worse than the First Call consensus of $0.13; revenues fell 29.1% year/year to $34.2 mln vs the $35.09 mln consensus.

12:52AM Star Bulk Carriers reports Q208 results (SBLK) 9.86 : Reports Q2 (Jun) earnings of $0.27 per share, excludes items, $0.06 worse than the First Call consensus of $0.33; revenues were $59.23 mln vs the $49.34 mln consensus.

12:46AM Sociedad Quimica y Minera reports earnings for Q208 (SQM) 32.46 : Co announces announced year/year earnings growth of 146.6% for Q208, reporting quarterly net income of $125.7 mln ($0.48 per ADR) compared to the 2007 figure of $51.0 mln ($0.19 per ADR). Operating income for Q2 reached $156.1 mln, 112.5% higher than the $73.5 mln recorded for the same period of 2007. Revenues totaled $460.8 mln, an increase of approx 43.3% with respect to Q207, when revenues amounted to $321.6 mln. No First Call estimates are available.