Earnings - 22nd Oct 2009

6:34PM Bucyrus beats by $0.35, beats on revs (BUCY) 42.53 -0.05 : Reports Q3 (Sep) earnings of $1.21 per share, $0.35 better than the First Call consensus of $0.86; revenues rose 4.6% year/year to $675.8 mln vs the $623.4 mln consensus.

4:19PM Synaptics beats by $0.06, beats on revs (SYNA) 23.66 +0.93 : Reports Q1 (Sep) earnings of $0.48 per share, excluding non-recurring items, $0.06 better than the First Call consensus of $0.42; revenues rose 3.7% year/year to $119.6 mln vs the $116.4 mln consensus. Q3 gross margin of 40.4% vs. 40.6% street expectation. "We saw a sharp year-over-year increase in our mobile touchscreen business, where we are working with the top handset makers to broaden penetration of capacitive touchscreen phones around the world. Synaptics won a number of important new designs during the quarter, and design activity remains robust,"

4:18PM Western Digital beats by $0.31, beats on revs (WDC) 37.11 +1.25 : Reports Q1 (Sep) earnings of $1.25 per share, $0.31 better than the First Call consensus of $0.94; revenues rose 4.3% year/year to $2.2 bln vs the $2.06 bln consensus. WDC reports Q1 hard drive shipments of 44.6 mln compared to 40 mln in Q4. "In the September quarter, we leveraged our organization-wide agility to respond to unexpectedly robust demand and again generated strong financial results. As we enter the December quarter, demand remains strong and our product line-up, availability and cost profile position us to benefit from continuing growth opportunities."

4:18PM Chipotle Mexican Grill beats by $0.20, reports revs in-line (CMG) 87.77 +4.29 : Reports Q3 (Sep) earnings of $1.08 per share, $0.20 better than the First Call consensus of $0.88; revenues rose 13.8% year/year to $387.6 mln vs the $388.2 mln consensus. Full year comparable restaurant increases in the low single digits. For FY10, co sees flat comparable restaurant sales.

4:15PM Align Tech beats by $0.08, beats on revs; guides Q4 EPS above consensus, revs above consensus (ALGN) 15.38 +0.44 : Reports Q3 (Sep) earnings of $0.13 per share, $0.08 better than the First Call consensus of $0.05; revenues rose 5.5% year/year to $79.3 mln vs the $73.8 mln consensus. Co issues upside guidance for Q4, sees EPS of $0.08-$0.10 vs. $0.06 consensus; sees Q4 revs of $77.5-$81 mln vs. $76.58 mln consensus.

4:12PM Sunpower beats by $0.02, beats on revs; guides FY09 EPS in-line, revs above consensus (SPWRA) 33.30 +0.94 : Reports Q3 (Sep) earnings of $0.42 per share, $0.02 better than the First Call consensus of $0.40; revenues rose 56.4% year/year to $466 mln vs the $420.1 mln consensus. SPWRA reports gross margin 20.7% compared to 22.6% in Q2. Co issues mixed guidance for FY09, sees EPS of 1.15-1.25 vs. $1.21 consensus; tightens FY09 revs to $1.425-1.50 bln from $1.35-1.70 bln vs. $1.43 bln consensus.

4:08PM Deckers Outdoor beats by $0.34, reports revs in-line; guides Q4 EPS above consensus, revs above consensus (DECK) 91.74 +2.25 : Reports Q3 (Sep) earnings of $2.59 per share, $0.34 better than the First Call consensus of $2.25; revenues rose 15.8% year/year to $228.4 mln vs the $227.7 mln consensus. DECK raises guidance, sees Q4 EPS growth of 5%, up from prior guidance of -4% and vs -3.5% consensus; co sees revs growth of +4%, up from prior guidance to decrease slightly YoY and vs +0.3% consensus. Q4 (Dec) guidance equates to EPS of $4.25 vs. $3.90 consensus; sees Q4 (Dec) revs of $315.60 mln vs. $303.85 mln consensus. Deckers Outdoor guidance also assumes a gross profit margin of approximately 47.0%, compared to previous expectations of 47.5%. "In addition to exceeding expectations, our third quarter results highlight our efforts to further diversify our product lines, expand our share of the market, and control expenses. Our UGG brand sales continue to be led by our core boot category, with the performance of several new styles driving the strong start to the fall selling season. Our focus on broadening the depth of our collections has enabled us to increase shelf space and attract new consumers to the brand. At the same time, we had a positive response to our more technical line of closed toe, light hikers, which will help establish our Teva brand as a true year-round brand and provide important momentum for spring 2010. Our Simple brand is also experiencing solid sell-through as ecoSNEAKS continue to perform well at major accounts such as Nordstrom and Journeys. We are very pleased with our ability to successfully execute our business plan in what continues to be an uncertain economic environment. We remain focused on effectively managing our expenses and inventory levels and are moving forward excited about the many long-term domestic and international growth opportunities that lie ahead for the Company." UGG brand net sales for the third quarter increased 19.1% to $212.8 million compared to $178.7 million for the same period last year. The sales gain was primarily attributable to an increase in domestic and international shipments of fall product versus the same period a year ago. During the third quarter, the Company repurchased approximately 300,000 shares of its common stock under its stock repurchase program for a total of approximately $20.0 million."

4:06PM Amazon.com beats by $0.12, beats on revs; guides Q4 revs above consensus (AMZN) 93.45 +0.03 : Reports Q3 (Sep) earnings of $0.45 per share, $0.12 better than the First Call consensus of $0.33; revenues rose 27.8% year/year to $5.45 bln vs the $5.03 bln consensus. Co issues upside guidance for Q4, sees Q4 revs of $8.12-9.12 vs. $8.11 bln consensus. AMZN sees Q4 operating income of $300-425 mln vs $372 mln consensus. Co said, "Kindle has become the #1 bestselling item by both unit sales and dollars - not just in our electronics store but across all product categories on Amazon.com. It's also the most wished for and the most gifted. We are grateful for and energized by this customer response... Earlier this week we began shipping the latest generation Kindle. Its 3G wireless works in the U.S. and 100 countries, and we've just lowered its price to $259."

7:36AM ITT Educational beats by $0.03, beats on revs (ESI) 110.43 : Reports Q3 (Sep) earnings of $2.00 per share, $0.03 better than the First Call consensus of $1.97; revenues rose 33.5% year/year to $339.6 mln vs the $335.3 mln consensus.

7:35AM Celgene beats by $0.02, beats on revs (CELG) 54.58 : Reports Q3 (Sep) earnings of $0.56 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.54; revenues rose 16.8% year/year to $692 mln vs the $671.2 mln consensus. Co reports Q3 sales of Revlimid $450 mln vs. $429 mln consensus; Vidaza $103 mln vs. $108 mln consensus, Thalomid $110 mln vs. $102 mln consensus.

7:13AM Laboratory Corp beats by $0.07, reports revs in-line; guides FY09 EPS above consensus (LH) 68.85 : Reports Q3 (Sep) earnings of $1.22 per share, $0.07 better thanthe First Call consensus of $1.15; revenues rose 4.4% year/year to $1.19 bln vs the $1.18 bln consensus. Co issues upside guidance for FY09, sees EPS of $4.84-4.89 vs. $4.81 consensus; the Company expects revenue growth of approximately 4%, consensus 4.57%.

6:46AM J. Crew raises Q3 guidance above consensus (JCG) 37.74 : Co issues upside guidance for Q3 (Oct), sees EPS of $0.54-0.59 vs. $0.36 First Call consensus, prior guidance $0.30-0.33. The Company's third quarter fiscal 2009 expectations reflect a high single digit increase in comparable store sales; a low single digit increase in Direct sales; and a gross profit margin increase of approximately 500 basis points as compared to the third quarter of fiscal 2008 which was 41.6% of revenues. This compares to the Company's previous guidance for the third quarter of fiscal 2009 of a mid-single digit decline in comparable store sales; a low to mid-single-digit decline in Direct sales; and a 100 basis point increase in gross profit margin.

6:36AM Dow Chemical beats by $0.14, beats on revs (DOW) 25.50 : Reports Q3 (Sep) earnings of $0.24 per share, excluding non-recurring items, $0.14 better than the First Call consensus of $0.10; revenues rose 6.4% year/year to $12.05 bln vs the $11.85 bln consensus. Co said, "The economic outlook for the rest of 2009 appears to be stabilizing withstrong growth in Asia Pacific, especially China, and other emerging geographies. The global economy is now on firmer footing, and, in our view, the United States economy is beginning a slow and tenuous recovery, with unemployment continuing to be a drag on consumer spending. Therefore, our 2009/2010 operating plans do not count on material improvements in market conditions, and we remain tightly focused on those factors we can control, such as costs, capital and cash flow management. Dow has already begun to benefit from the smooth integration of Rohm and Haas and the decisive actions we took to accelerate our restructuring efforts and cost synergies. We have also made significant improvements to our balance sheet, strengthening our financial structure and providing more flexibility in how we execute any further divestitures, which will be made on a timely and strategic basis."

6:33AM Alexion Pharma beats by $0.08, beats on revs; raises non-GAAP EPS guidance and Soliris net product sales guidance (ALXN) 44.13 : Reports Q3 (Sep) earnings of $0.29 per share, $0.08 better than the First Call consensus of $0.21; revenues rose 34.1% year/year to $102.6 mln vs the $98.3 mln consensus. Full-year 2009 financial guidance for non-GAAP diluted earnings per share is being revised upward, from the previously announced range of $1.01 to $1.06, to a higher range of $1.15 to $1.18, not comaparable to the GAAP consensus of $0.76. Alexion is revising upward its previously announced guidance for worldwide Soliris net product sales, from a previous range of $368 to $378 million, now to a higher range of $383 to $385 million for the full-year 2009.

6:10AM Check Point Sftwr beats by $0.03, beats on revs (CHKP) 30.10 : Reports Q3 (Sep) earnings of $0.52 per share, excluding non-recurring items, $0.03 better than the First Call consensus of $0.49; revenues rose 17.0% year/year to $233.6 mln vs the $230.7 mln consensus.

6:09AM Travelers beats by $0.30; raises FY09 EPS guidance (TRV) 48.02 : Reports Q3 (Sep) earnings of $1.61 per share, excluding non-recurring items, $0.30 better than the First Call consensus of $1.31. Co raises guidance for FY09, sees EPS of 5.30-5.50 vs. $5.28 consensus, up from previous guidance of $4.80-5.05. Book value for the quarter jumped 22% QoQ to $51.24 per share. The current quarter underwriting gain reflects a GAAP combined ratio, excluding net favorable prior year reserve development and catastrophe losses, of 92.5 percent, as compared to 91.8 percent in the prior year quarter. This increase of 0.7 points primarily resulted from reduced underwriting margins related to pricing and loss cost trends, higher non-catastrophe weather-related losses within Personal Insurance as well as the impact of the company's recently announced direct to consumer initiative. "These results were driven by underwriting profitability in each of our business segments and increased net investment income, as our non-fixed income portfolio yield improved to a positive level. "We were once again successful in achieving positive renewal rate changes across all of our business segments, although net written premiums were down modestly, largely attributable to declining economic activity in recent... With improved stability in the capital markets we deployed excess liquidity that we accumulated over the past several quarters. We repurchased $1 billion of common shares in the quarter in contrast to our past practice of reduced share repurchases during the catastrophe season. Given our strong earnings performance and cash position and more stable capital markets, we increased our regular quarterly dividend by 10 percent to $0.33 per share. In addition our Board of Directors has approved an additional $6.0 billion of common share repurchases."

6:08AM Potash beats by $0.01, beats on revs; guides Q4 EPS below consensus (POT)102.48 : Reports Q3 (Sep) earnings of $0.82 per share, $0.01 better than the First Call consensus of $0.81; revenues fell 64.1% year/year to $1.1 bln vs the $1.04 bln consensus. Co issues downside guidance for Q4, sees EPS of $0.65-0.85 vs. $1.18 consensus. N. American potash producer shipments improved from the previous quarter, but third-quarter volumes were still more than 50% below the same quarter in 2008 and year-to-date totals were nearly 70% lower than in the first nine months of last year. In July, India signed new contracts with global potash producers, which co believed would inspire buyer confidence in other markets. This failed to materialize, as potash buyers appeared to respond instead to their perception of market conditions and risks, including healthy producer inventories, lack of engagement by Chinese buyers and a late US harvest. Moreover, large inventory writedowns in nitrogen and phosphate taken by dealers over the past year limited the appetite for additional inventory risk. As a result, dealers and farmers continued to buy potash only on an as-needed basis, putting pressure on spot market pricing.In phosphate, US producer solid fertilizer domestic sales volumes moved closer to historical levels, while offshore volumes rose slightly as India continued to import significant quantities and shipments to Brazil increased in advance of its key planting season. In nitrogen, lower domestic natural gas costs allowed North American producers to be more competitive, contributing to a 24% decline in ammonia imports to the US compared to last year's third quarter. Lower winter wheat plantings and continued deferral by fertilizer buyers reduced urea demand and prices in the quarter. Co anticipates global potash demand in 2010 will approximate 50 million tonnes. Co now expects 2009 potash gross margin to fall within the range of $0.7-$0.9 billion and total shipments to be 3.0-3.2 million tonnes.With lower forecast potash volumes, POT now anticipates 2009 annual effective tax rate will be in the range of 10-12%, with the fourth quarter at approx 26-27%. Provincial mining and other taxes are forecast within a range of 3-4% of total potash gross margin in the year as a result of lower volumes and pricing.

3:10AM AU Optronics beats by $0.01, beats on revs (AUO) 9.82 : Reports Q3 (Sep) earnings of $0.26 per ADR, $0.01 better than the First Call consensus of $0.25; revenues rose 8.4% year/year to $3.5 bln vs the $3.21 bln consensus. Co reports operating margin of 6.8%.

Earnings - 23rd April 2009 (2)

5:23PM Bucyrus beats by $0.08, beats on revs (BUCY) 18.74 -0.48 : Reports Q1 (Mar) earnings of $0.76 per share, $0.08 better than the First Call consensus of $0.68; revenues rose 17.2% year/year to $605.7 mln vs the $561.8 mln consensus. The increase in surface mining original equipment sales for Q1 of 2009 compared to Q1 of 2008 was primarily in electric mining shovels, offset by a decrease in sales from draglines. The increase in surface mining aftermarket parts and service sales was primarily in the Chilean and Australian markets. Moderate increases in sales to customers in Brazil and China offset a decline in Canada. The decrease in surface mining original equipment new orders in the first quarter of 2009 was primarily due to fewer electric mining shovel orders in the quarter

5:10PM Eastman Chem beats by $0.11, misses on revs; guides Q2 EPS in-line; guides FY09 EPS in-line (EMN) 33.11 +0.26 : Reports Q1 (Mar) earnings of $0.25 per share, excluding non-recurring items, $0.11 better than the First Call consensus of $0.14; revenues fell 34.6% year/year to $1.13 bln vs the $1.37 bln consensus. Co issues in-line guidance for Q2, sees EPS of $0.71 vs. $0.71 consensus. Co issues in-line guidance for FY09, sees EPS of $2.00-3.00 vs. $2.29 consensus. Co says, "While our capacity utilization improved on a sequential basis to slightly above 70% in Q1, the global economic environment remains challenging and visibility for demand continues to be limited. In response to the difficult economic conditions, we have taken a number of cost reduction actions that will positively impact our financial results throughout the year. Assuming improvement in demand increases our capacity utilization to between 75-80% for the remainder of the year."

4:38PM CF Industries beats by $0.52, beats on revs (CF) 66.91 +0.71 : Reports Q1 (Mar) earnings of $1.23 per share, excluding $0.55 in non-recurring items, $0.52 better than the First Call consensus of $0.71; revenues rose 2.0% year/year to $680.6 mln vs the $478.7 mln consensus. Volumes for ammonia and urea were up 77 percent and 13 percent respectively compared to Q1 2008, while volume for UAN was down 26%. Average selling prices for ammonia and urea ammonium nitrate (UAN) solutions were modestly higher than in first quarter 2008 but down significantly compared to Q4 of 2008. For ammonia, the average selling price was $527 per ton, up from $428 in Q1 2008 but down from $653 in 2008's Q4. For UAN, the average selling price was $298 per ton, up from $285 in Q1 2008 but down from $352 in Q4 2008. For urea, the average selling price was $365 per ton, down from $387 in the year-earlier quarter and also down from $480 in Q4 2007. Despite slow domestic demand for phosphate, the co increased segment sales volume by 12% in the quarter by increasing product movement into offshore markets. Average selling prices for phosphate products were modestly lower than in first quarter 2008 but significantly lower than Q4 of 2008. For DAP, the average price was $418 per ton, down from both the $493 per ton in the year-earlier quarter and $906 per ton in Q4 2008. For MAP, the average selling price was $466 per ton, compared to $467 per ton in Q1 2008 and $903 per ton in 2008's Q4. Co says, "Input costs for fertilizer production - including sulfur and ammonia for phosphate and natural gas for nitrogen - have continued to fall well below 2008 levels, with positive margin implications. In addition, we have seen promising levels of ammonia movement to date and, weather permitting, we anticipate a strong spring ammonia season."

4:32PM EZCORP beats by $0.01, reports revs in-line; guides Q3 EPS below consensus; guides Q4 (Sep) EPS in-line; guides FY09 EPS in-line (EZPW) 13.25 +0.00 : Reports Q2 (Mar) earnings of $0.37 per share, $0.01 better than the First Call consensus of $0.36; revenues rose 37.6% year/year to $156.3 mln vs the $156.1 mln consensus. Co issuesdownside guidance for Q3, sees EPS of $0.34 vs. $0.36 consensus. Co issues in-line guidance for Q4 (Sep), sees EPS of $0.46-$0.48 vs. $0.46 consensus. Co issues in-line guidance for FY09, sees EPS of $1.50-$1.52 vs. $1.52 consensus.

4:23PM Informatica beats by $0.03, reports revs in-line (INFA) 13.35 -0.55 : Reports Q1 (Mar) earnings of $0.18 per share, $0.03 better than the First Call consensus of $0.15; revenues rose 5.2% year/year to $109.1 mln vs the $109.8 mln consensus. "Our record first quarter results reaffirm our sound strategy and the Informatica team's operational discipline, particularly in light of the current global economic recession,"

4:21PM American Express beats by $0.20, misses on revs (AXP) 20.97 +1.54 : Reports Q1 (Mar) earnings of $0.32 per share, $0.20 better than the First Call consensus of $0.12; revenues fell 18.1% year/year to $5.93 bln vs the $6.45 bln consensus. Consolidated provisions totaled $1.8 bln compared to $1.2 bln in the year-ago period, primarily reflecting additions to the lending credit reserves in view of increased write-offs and past due loans. At the end of the quarter, the company's tier-one risk based capital ratio was 14.8%. Its tangible common equity to risk weighted assets of 10.1% was relatively high compared to most bank holding companies. The company's return on average equity (ROE) was 16.3%, down from 35.9% a year ago. Return on average common equity (ROCE), which excludes the impact of preferred shares and other adjustments, was 16.7 percent, down from 35.7 percent a year ago. "While we did see some recent improvement in early delinquency rates, overall credit indicators reflected rising unemployment levels and the broad-scale weakness in the economy. Based on current indicators, we expect second quarter U.S. lending write-off rates on a managed basis to rise between 200 and 250 basis points over the first quarter levels. We expect an additional increase of 50 basis points or less in the third quarter, before leveling off during the fourth quarter3. We continue to be very cautious about the economic outlook and plan to initiate additional reengineering efforts in the second quarter to help further reduce our operating costs. Our goal is to remain in a position to generate profits in excess of our dividend and be able to take competitive advantage of opportunities as the economy begins to rebound... Also, if permitted by our supervisors and if supported by the results of the stress assessment, we intend to repay the government investment of preferred shares and warrants."

4:18PM Western Digital beats by $0.18, beats on revs (WDC) 21.79 -0.32 : Reports Q3 (Mar) earnings of $0.30 per share, excluding $14 mln for in-process research and development related to the SiliconSystems acquisition, and $4 mln associated with the restructuring plan announced Dec 17th 2008, $0.18 better than the First Call consensus of $0.12; revenues fell 24.6% year/year to $1.59 bln vs the $1.48 bln consensus. The co generated $355 mln in cash from operations during the March quarter, ending with total cash and cash equivalents of $1.6 bln. "We are pleased with our financial performance in the March quarter, reflecting continued profitability and cash generation... We managed our market segment participation, product mix and costs to optimize our returns in a challenging environment. We have taken a series of actions to resize and restructure the business to remain profitable and cash flow positive at a $1.5 bln quarterly revenue level and the effects of these actions are already showing up in our results.

4:17PM Synaptics beats by $0.05, beats on revs; guides Q4 revs above consensus (SYNA) 31.72 +0.32 : Reports Q3 (Mar) earnings of $0.38 per share, excluding non-recurring items, $0.05 better than the First Call consensus of $0.33; revenues rose 27.6% year/year to $100.6 mln vs the $93.7 mln consensus. Co issues upside guidance for Q4 (Jun), sees Q4 revs of $105-115 mln vs. $102.39 mln consensus. "Revenue from PC applications exceeded our expectations, and we furthered our penetration of the mobile phone market, where the installed base of capacitive interface solutions continues to be very low..."

4:17PM Riverbed Technology beats by $0.01, beats on revs (RVBD) 14.59 -0.27 : Reports Q1 (Mar) earnings of $0.11 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.10; revenues rose 21.2% year/year to $88.5 mln vs the $85.1 mln consensus.

4:17PM Cheesecake Factory beats by $0.07, beats on revs (CAKE) 14.92 -0.11 : Reports Q1 (Mar) earnings of $0.17 per share, $0.07 better than the First Call consensus of $0.10; revenues fell 0.3% year/year to $392.8 mln vs the $382.3 mln consensus.

4:14PM Sunpower misses by $0.19, misses on revs; guides FY09 EPS in-line, revs in-line (SPWRA) 25.93 -1.37 : Reports Q1 (Mar) earnings of $0.05 per share, $0.19 worse than the First Call consensus of $0.24; revenues fell 21.8% year/year to $214 mln vs the $269.1 mln consensus. Sunpower also revised its 2009 capital expenditure outlook from $350 mln - $400 mln to $250 mln - $300 mln . Sunpower also revised its 2009 capital expenditure outlook from $350-400 mln to $250-300 mln. Non-GAAP gross margins fell 506 bps to 24.3% from 29.9%. Co issues in-line guidance for FY09, sees EPS of 1.25-1.75 vs. $1.90 consensus.

4:11PM Amgen misses by $0.07, misses on revs; guides FY09 EPS in-line, revs in-line (AMGN) 46.82 +1.71 : Reports Q1 (Mar) earnings of $1.08 per share, $0.07 worse than the First Call consensus of $1.15; revenues fell 8.4% year/year to $3.31 bln vs the $3.63 bln consensus. Co issues in-line guidance for FY09, sees EPS of $4.55-4.75 vs. $4.62 consensus; lowers FY09 revs guidance to $14.4-14.8 vs. $14.9 bln consensus. Q1 Drug sales: Enbrel: $758 mln vs. $900 mln First Call Consensus; Neulasta and Neupogen: $1073 mln vs. $1188 mln First Call Consensus; Aranesp: $626 mln vs. $668 mln First Call Consensus; Epogen: $565 mln vs. $604 mln First Call Consensus.

4:10PM Juniper Networks reports EPS in-line, revs in-line (JNPR) : Reports Q1 (Mar) earnings of $0.17 per share, excluding non-recurring items, in-line with the First Call consensus of $0.17; revenues fell 7.1% year/year to $764.2 mln vs the $764.4 mln consensus. "The reduction in revenue was a reflection of the current macro economic environment and I am pleased with how quickly the team was able to implement cost reductions and deliver on our operating margin and EPS targets. In addition, we posted strong cash flows from operations and maintained a strong balance sheet. We will continue to take the actions needed in order to align our cost-structure with anticipated revenue levels."

4:10PM Netflix beats by $0.06, reports revs in-line; guides Q2 EPS in-line, revs in-line; guides FY09 EPS in-line, revs in-line (NFLX) 45.32 -0.56 : Reports Q1 (Mar) earnings of $0.37 per share, $0.06 better than the First Call consensus of $0.31; revenues rose 9.6% year/year to $394.1 mln vs the $390.9 mln consensus. Co issues in-line guidancefor Q2, sees EPS of $0.44-$0.53 vs. $0.47 consensus; sees Q2 revs of $403-$409 mln vs. $407.67 mln consensus. Co issues in-line guidance for FY09, sees EPS of $1.56-$1.72 vs. $1.60 consensus; sees FY09 revs of $1.63-$1.67 bln vs. $1.64 bln consensus. Gross subscriber additions for the quarter totaled 2,413,000, representing 30 percent year-over-year growth from 1,862,000 gross subscriber additions in the first quarter of 2008 and 16 percent quarter-over-quarter growth from 2,085,000 gross subscriber additions in the fourth quarter of 2008. Churn for the first quarter of 2009 was 4.2 percent compared to 3.9 percent for the first quarter of 2008 and 4.2 percent for the fourth quarter of 2008.

4:09PM Amazon.com beats by $0.10, beats on revs; guides Q2 revs in-line (AMZN)80.61 +1.41 : Reports Q1 (Mar) earnings of $0.41 per share, $0.10 better than the First Call consensus of $0.31; revenues rose 18.2% year/year to $4.89 bln vs the $4.76 bln consensus. Co issues in-line guidance for Q2, sees Q2 revs of $4.3-4.75 bln vs. $4.61 bln consensus. Operating income is expected to be between $110 mln and $190 mln, or decline between 49% and 12% compared with second quarter 2008 vs ~$172 mln consensus. The second quarter 2008 results include the $53 mln non-cash gain recognized on the sale of the Company's European DVD rental assets. CEO said, "We're grateful and excited that Kindle sales have exceeded our most optimistic expectations".

4:07PM Con-way misses by $0.20, misses on revs (CNW) 22.21 +0.00 : Reports Q1 (Mar) loss of $0.42 per share, excluding non-recurring items, $0.20 worse than the First Call consensus of ($0.22); revenues fell 19.8% year/year to $962.9 mln vs the $1.06 bln consensus. "Until we see some balance restored between supply and demand in the freight markets, and a more stable pricing environment, we must be cautious about our outlook for 2009,"

4:07PM Deckers Outdoor beats by $0.29, beats on revs; guides Q2 EPS below consensus, revs above consensus; guides FY09 EPS above consensus, revs in-line (DECK) 63.80 +0.38 : Reports Q1 (Mar) earnings of $0.93 per share, $0.29 better than the First Call consensus of $0.64; revenues rose 37.6% year/year to $134.2 mln vs the $119.3 mln consensus. Co issues mixed guidance for Q2, sees EPS of ($0.15)-($0.10) vs. $0.26 consensus; sees Q2 revs up 10% YoY, or roughlyl $114.25 mln vs. $103.86 mln consensus. Co issues mixed guidance for FY09, sees EPS of flat to up slightly over 2008 EPS of $7.27, vs. $7.09 consensus; sees FY09 revs up 7-9% YoY, or roughly $737.7-751.5 mln vs. $748.15 mln consensus. The Q2 guidance assumes a gross profit margin of approximately 39% and SG&A as a percentage of sales of approximately 43% due to the shift of approximately $2 million in expenses, consisting primarily of marketing costs, into the second quarter from the first quarter.A significant amount of the Company's operating expenses are fixed and spread evenly on an absolute dollar basis throughout each quarter, resulting in the greatest impact on earnings in the lowest volume sales quarter, which has historically been the second quarter... The Company's gross profit margin for the first quarter was 43.9% compared to 47.3% for the first quarter of last year. Gross profit margin decreased primarily due to the wholesale business growing at a higher rate than the eCommerce business for the first quarter of 2009 as well as higher levels of closeout sales than in the first quarter of 2008. First quarter 2008 margins were also positively impacted by a reduction in the estimate for sales returns.

4:05PM Burl Nrth Santa Fe beats by $0.18, misses on revs (BNI) 67.85 +1.42 : Reports Q1 (Mar) earnings of $1.14 per share, excluding non-recurring items, $0.18 better than the First Call consensus of $0.96. EPS excluded a $0.19 per share charge related to an unfavorable coal rate case decision and an $0.08 per share loss on unwinding interest rate hedges on debt no longer expected to be issued. revenues fell 19.6% year/year to $3.42 bln vs the $3.68 bln consensus. Operating expenses for the first quarter of 2009 were $2.76 billion compared with first-quarter 2008 operating expenses of $3.39 billion. The $631 million decrease in operating expenses was driven by strong cost controls, decreased unit volumes and lower fuel prices, which decreased fuel expenses by about $300 million.

Earnings - 26th Feb 2009

5:53PM Public Storage beats by $0.21, misses on revs (PSA) 52.43 -1.60 : Reports Q4 (Dec) funds from operations of $1.49 per share, $0.21 better than the First Call consensus of $1.28; revenues rose 1.6% year/year to $333.1 mln vs the $415 mln consensus.

5:06PM Universal Health beats by $0.07, misses on revs; guides FY09 EPS above consensus, revs above consensus (UHS) 35.64 -3.20 : Reports Q4 (Dec) earnings of $0.87 per share, excluding non-recurring items, $0.07 better than the First Call consensus of $0.80; revenues rose 5.1% year/year to $1.24 bln vs the $1.26 bln consensus. Co issuesupside guidance for FY09, sees EPS of $4.00-4.15 vs. $3.86 consensus; sees FY09 revs of $5.34 bln vs. $5.33 bln consensus.

4:19PM SandRidge Energy beats by $0.05, misses on revs (SD) 6.58 +0.13 : Reports Q4 (Dec) earnings of $0.06 per share, excluding non-cash asset impairments and unrealized gains or losses on derivative contracts , $0.05 better than the First Call consensus of $0.01; revenues fell 7.0% year/year to $200.7 mln vs the $249.9 mln consensus.

4:18PM AthenaHealth beats by $0.02, beats on revs (ATHN) 34.17 -0.98 : Reports Q4 (Dec) earnings of $0.19 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.17; revenues rose 46.8% year/year to $41.4 mln vs the $40.1 mln consensus.

4:14PM Human Genome beats by $0.07, beats on revs; guides FY09 revs above consensus (HGSI) 1.95 -0.08 : Reports Q4 (Dec) loss of $0.41 per share, $0.07 better thanthe First Call consensus of ($0.48); revenues rose 3.2% year/year to $12.9 mln vs the $12.3 mln consensus. Co issues upside guidance for FY09, sees FY09 revs of $250 mln vs. $223.37 mln consensus, with at least $150 mln from delivery of ABthrax to Strategic National Stockpile.

4:05PM Sourcefire beats by $0.13, beats on revs; guides Q1 EPS above consensus, revs above consensus (FIRE) 5.78 -0.19 : Reports Q4 (Dec) earnings of $0.13 per share,$0.13 better than the First Call consensus of ($0.00); revenues rose 33.2% year/year to $25.7 mln vs the $21.7 mln consensus. Co issues upside guidance for Q1, sees EPS of ($0.05)- ($0.01) vs. ($0.08) consensus; sees Q1 revs of $16.2-17.7 mln vs. $15.01 mln consensus.

4:04PM Deckers Outdoor beats by $0.10, beats on revs; guides FY09 EPS below consensus (DECK) 52.99 -2.39 : Reports Q4 (Dec) earnings of $4.05 per share, excluding non-recurring items, $0.10 better than the First Call consensus of $3.95; revenues rose 56.3% year/year to $303.5 mln vs the $299.3 mln consensus. Co issues downside guidancefor FY09, sees EPS of $7.27 to slightly down vs. $8.05 consensus. Co introduces FY09 revenue growth target of approximately 6% to 9% over 2008 (which equates to guidance of $730.8-751.5 mln vs $787 mln).

4:02PM InterMune misses by $0.11, misses on revs (ITMN) 15.38 -0.97 : Reports Q4 (Dec) loss of $0.83 per share, $0.11 worse than the First Call consensus of ($0.72); revenues fell 22.9% year/year to $7.4 mln vs the $7.6 mln consensus. Revenue for 2009, including Actimmune and anticipated milestone payments from Roche, is expected to be in a range of approximately $40-$50 mln. Actimmune revenue represents approx 50% of this revenue range.

8:34AM Smart Balance reports Q4 results, beats on revs (SMBL) 5.99 : Reports Q4 (Dec) loss of $0.04 per share, including items, may not compare to the First Call consensus of ($0.00); revenues rose 28.9% year/year to $65.6 mln vs the $63.9 mln consensus. Smart Balance's outlook for 2009 first half percentage growth versus 2008 in net sales is high teens to mid-twenties, with second quarter growth expected to be higher than first quarter growth. 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 will likely experience uncertainty in 2009 around consumer reaction to the economy, potentially impacting the ability to generate trial of the Company's premium priced products by new consumers. Gross profit as a percent of net sales is expected to improve to 45%+ in 2009 as input costs are expected to be below the prior year.

8:34AM Frontier Oil misses by $0.09, misses on revs (FTO) 13.54 : Reports Q4 (Dec) earnings of $0.32 per share, excluding items, $0.09 worse than the First Call consensus of $0.41; revenues rose 2.2% year/year to $1.35 bln vs the $1.61 bln consensus. The fourth quarter 2008 results exclude an after-tax inventory loss of $245.1 million, or $2.38 per share, and an after-tax hedging gain of $115.6 million, or $1.12 per share.

8:33AM Ensco beats by $0.08, reports revs in-line (ESV) 24.40 : Reports Q4 (Dec) earnings of $2.14 per share, $0.08 better than the First Call consensus of $2.06; revenues rose 20.2% year/year to $622.1 mln vs the $616.1 mln consensus. Co says, "We expect to begin realizing the benefit of our significant deepwater investment starting in Q209... We are beginning to be impacted by lower oil and gas prices, tight credit markets and the global recession. There is no question that 2009 will be a challenging year and that jackup rigs, including some of our own, will be without contracts for some portion of the year."

7:47AM El Paso Pipline Partners beats by $0.03, beats on revs (EPB) 16.85 : Reports Q4 (Dec) earnings of $0.37 per share, $0.03 better than the First Call consensus of $0.34; revenues rose 29.2% year/year to $38.1 mln vs the $37.3 mln consensus. In 2009, the partnership expects to generate approximately $180 mln of distributable cash flow. This represents an increase of more than 20% over 2008, due to higher interests in its equity pipelines CIG and SNG, and recently completed expansion projects. The partnership expects to spend $64 mln in expansion capital, and $2 mln in maintenance capital.

7:17AM ANSYS beats by $0.06, misses on revs; guides Q1 EPS below consensus, revs below consensus; guides FY09 EPS in-line, revs below consensus (ANSS) 23.15 : Reports Q4 (Dec) earnings of $0.50 per share, $0.06 better than the First Call consensus of $0.44; revenues rose 28.9% year/year to $143.3 mln vs the $147.2 mln consensus. Co issues downside guidance for Q1, sees EPS of $0.33-$0.39 vs. $0.43 consensus; sees Q1 revs of $122-$135 vs. $145.65 mln consensus. Co issues mixed guidance for FY09, sees EPS of $1.54-$1.85 vs. $1.85 consensus; sees FY09 revs of $530-$590 mln vs. $611.53 mln consensus.

7:02AM Natus Medical beats by $0.01, reports revs in-line; reaffirms guidance (BABY)8.08 : Reports Q4 (Dec) earnings of $0.22 per share, $0.01 better than the First Call consensus of $0.21; revenues rose 26.8% year/year to $43.4 mln vs the $43.5 mln consensus. Co reaffirms guidance for Q1, sees EPS of $0.06-0.08 vs. $0.08 consensus; sees Q1 revs of $37-38 mln vs. $37.41 mln consensus. Co reaffirms guidance for FY09, sees EPS of $0.57-0.61 vs. $0.58 consensus; sees FY09 revs of $166-170 vs. $166.61 mln consensus.

6:35AM Dean Foods increases Q1 guidance above consensus; sees FY09 EPS of at least $1.55 vs $1.56 consensus (DF) 20.51 : Co announces it is hosting an investor meeting today to outline the core strategies that will drive performance over the coming years. Over the next three to five years, Dean Foods management plans to execute against specific plans to drive cost reductions across the business, targeting $300 million in cost savings. The first area of focus is lowering conversion costs across the manufacturing network of over a hundred plants. The second improvement area is extending its low cost position by optimizing its supply chain network. The third area of focus is in driving distribution efficiency across the DSD Dairy's network of over 5,800 company-owned delivery routes. The fourth area of opportunity to drive savings across Dean is standardizing and simplifying its product portfolio to reduce complexity and achieve scale-based procurement savings. The co increased its Q1 guidance for adjusted diluted EPS to at least $0.41 per share (vs $0.40 consensus), from its prior guidance for at least $0.38 per adjusted diluted share. Additionally, the co's full year expectations have also increased, with mgmt now expecting adjusted earnings to reach at least $1.55 (vs $1.56 consensus), representing full year growth of at least 19% from the $1.30 posted in 2008.

6:32AM Sanderson Farms beats by $0.04, beats on revs (SAFM) 28.25 : Reports Q1 (Jan) loss of $0.33 per share, $0.04 better than the First Call consensus of ($0.37); revenues rose 7.3% year/year to $388.9 mln vs the $368.4 mln consensus. Co said, "We do not expect demand to improve until the economy gains some traction and consumers resume spending and dining out again... We will continue to manage our operations as efficiently as possible through this cycle and we do not plan to return to full production until we see an improvement in market conditions. However, we do expect that our feed costs will be lower this year as grain prices are also being affected by the economy and reduced demand".

6:18AM Pioneer Drilling misses by $0.02, beats on revs (PDC) 4.15 : Reports Q4 (Dec) earnings of $0.37 per share, $0.02 worse than the First Call consensus of $0.39; revenues rose 63.2% year/year to $170.7 mln vs the $161.7 mln consensus.

6:11AM Southern Union beats by $0.03, beats on revs; guides FY09 EPS above consensus (SUG) 12.37 : Reports Q4 (Dec) earnings of $0.47 per share, $0.03 better thanthe First Call consensus of $0.44; revenues rose 75.3% year/year to $727.1 mln vs the $691.9 mln consensus. Co issues upside guidance for FY09, sees EPS of $1.75-1.90, excluding non-recurring items, vs. $1.70 consensus.

Earnings - 8th Aug 2008 (1)

8:18AM Hormel Foods issues Q3, Y08 downside guidance (HRL) 37.60 : Co issues downside guidance for Q3 (Jul), sees EPS of $0.37-0.39 vs. $0.45 First Call consensus. Co issues downside guidance for Y08 (Oct), sees EPS of $2.22-2.28, compared to previous guidance of $2.30-2.40, vs. $2.35 consensus. "Higher than expected feed and fuel input costs at our Jennie-O Turkey Store segment were the primary reason for the shortfall in our third quarter results. While we have continued to implement price increases in this segment, they have not been adequate to offset the higher input costs. An oversupply of turkey breast meat also kept pricing of commodity breast meat at a low level, exacerbating the cost-price differential. In the fourth quarter, we expect to see continued earnings pressure at Jennie-O Turkey Store from higher input costs, as the birds fed with higher grain prices make their way through the system."

7:50AM Fannie Mae reports Q2, beats on revs; lowers dividend (FNM) 9.95 : Reports Q2 (Jun) loss of $2.54 per share, may not compare to the First Call consensus of ($0.69); revenues rose 45.8% year/year to $3.96 bln vs the $3.4 bln consensus. "In addition, OFHEO has recently finalized rules modifying our regulatory risk-based capital stress test which will be applied beginning with the third quarter of 2008. The uncertainties that make 2009 estimates challenging also impact the calculation of this requirement, adding additional uncertainty to the regulatory requirements for capital. We are in ongoing dialogue with our regulator regarding our capital position.... In light of volatile market conditions, it is critical that we manage our capital levels to maintain a capital cushion well in excess of our regulatory capital requirement. To that end, we use strategies designed to preserve and protect our capital. In addition, we may, from time to time, raise capital opportunistically. Management continues to carefully monitor our capital and dividend positions and the trends impacting those positions and, if necessary, intends to take actions designed to help mitigate the impacts of a worsening environment on those positions. In this environment, conditions that negatively impact capital can develop rapidly and are based on a variety of factors. Therefore, we may need to take action quickly to respond. We have already begun to take some of those actions. Today, the Board of Directors announced that the company is decreasing the dividend on our common stock to $0.05 per share. On August 4, 2008, we announced an increase in our guaranty fee pricing on new acquisitions commensurate with the risks in the current market. We are also prudently managing the size of our balance sheet. Finally, we are evaluating our costs and expenses and expect to reduce ongoing operating costs by 10% by year end 2009. Additional steps we could take include: reducing or eliminating our dividends; slowing growth; decreasing the size of the balance sheet; further raising guaranty fees; and raising additional capital (which could be dilutive). Some of these actions could have negative consequences, including decreased revenue due to growth limitations, or increased mark-to-market charges associated with the decreased liquidity for mortgage assets that could arise from a reduction in our market activity. If our capital fails to meet standards set by our regulator, our regulator could require us to enter into a capital restoration plan or take other actions. As discussed below, the U.S. Treasury is authorized to buy Fannie Mae's debt, equity and other securities, subject to our agreement.... While we continue to expect home price declines in 2008 to be within our estimated 7% to 9% range, and peak-to-trough home price declines to be within our estimated 15% to 19% range, we see the trend moving toward the high end of those ranges, driven in particular by higher home price declines in certain regions. We are increasing our forecast for our credit loss ratio for the full-year to 23 to 26 basis points, as compared to our previous guidance of 13 to 17 basis points. We continue to anticipate that our credit loss ratio will increase further in 2009 compared with 2008. We also expect significant additions to our combined loss reserves through the remainder of 2008. Finally, while we expect that 2008 will be our peak year for credit-related expenses, the total amount of credit-related expenses will be significant in 2009."

6:49AM Beazer Homes misses by $0.51, beats on revs (BZH) 5.93 : Reports Q3 (Jun) loss of $2.85 per share, $0.51 worse than the First Call consensus of ($2.34); revenues fell 39.5% year/year to $455.6 mln vs the $430.1 mln consensus. "Despite lower home prices, relatively low interest rates and a large choice of available homes, potential homebuyers remain reluctant due to eroding consumer confidence amid concerns about employment growth, higher energy costs and the overall economy. Based on these demand dynamics, coupled with high supply levels of new and existing home inventory, we believe industry conditions will remain challenging for the remainder of this fiscal year and as we enter fiscal 2009."

12:01AM Mariner Energy beats by $0.18, beats on revs (ME) 26.06 : Reports Q2 (Jun) earnings of $1.39 per share, $0.18 better than the First Call consensus of $1.21; revenues rose 101.5% year/year to $429.5 mln vs the $383.7 mln consensus.

6:23PM Middleby beats by $0.13, beats on revs (MIDD) 50.08 -0.02 : Reports Q2 (Jun) earnings of $1.01 per share, excluding non-recurring items, $0.13 better than the First Call consensus of $0.88; revenues rose 53.3% year/year to $173.5 mln vs the $165.3 mln consensus.

6:01PM ZOLL Medical: U.S. Army awards airworthy certification to ZOLL AED Pro A-W (ZOLL) 32.85 -1.03 : Co announced that it has been notified of Airworthiness Release (AWR) from the U.S. Army's Research, Development, and Engineering Command for the ZOLL AED Pro A-W. The certification indicates that the AED Pro A-W is in compliance with the U.S. Department of Defense medical device certification criteria and is now certified for use aboard MEDEVAC helicopters.

6:00PM Public Storage beats by $0.01, misses on revs (PSA) 80.11 -4.19 : Reports Q2 (Jun) funds from operations of $1.10 per share, $0.01 better than the First Call consensus of $1.09; revenues fell 5.4% year/year to $424.1 mln vs the $436.2 mln consensus.

5:43PM Hertz Global beats by $0.01, beats on revs; guides FY08 EPS below consensus, revs below consensus (HTZ) 9.01 +0.13 : Reports Q2 (Jun) earnings of $0.30 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.29; revenues rose 4.6% year/year to $2.28 bln vs the $2.22 bln consensus. Co lowers guidance for FY08, sees EPS of $1.05-1.15 vs. $1.29 consensus, $1.38-1.44; lowers FY08 revs of $8.7-8.8 bln vs. $8.94 bln consensus, down from $8.9-9.0 bln.

5:35PM Gibraltar Industries beats by $0.29, beats on revs; guides FY08 EPS above consensus (ROCK) 15.01 -0.53 : Reports Q2 (Jun) earnings of $0.67 per share, $0.29 better than the First Call consensus of $0.38; revenues rose 6.5% year/year to $379.2 mln vs the $364.3 mln consensus. Co issues upside guidance for FY08, sees EPS of $1.50-1.65 vs. $1.15 consensus. (Stock is halted)

5:16PM Atwood Oceanics reports EPS in-line, beats on revs (ATW) 43.28 -0.82 : Reports Q3 (Jun) earnings of $0.93 per share, in-line with the First Call consensus of $0.93; revenues rose 43.7% year/year to $141.4 mln vs the $138.9 mln consensus.

5:12PM Coleman Cable reports Q2 (Jun) results, beats on revs; guides Q4 (Dec) revs below consensus (CCIX) 12.43 +0.07 : Reports Q2 (Jun) earnings of $0.05 per share, may not be comparable to the First Call consensus of $0.21; revenues rose 8.3% year/year to $267.6 mln vs the $250.7 mln consensus. Co issues guidance for Q4 (Dec), sees EPS of $0.12-0.26, may not be comparable to $0.40 consensus; sees Q4 (Dec) revs of $265-275 mln vs. $279.15 mln consensus.
5:04PM The9 Ltd beats by $0.12, reports revs in-line (NCTY) 24.35 -0.48 : Reports Q2 (Jun) earnings of $0.61 per share, $0.12 better than the First Call consensus of $0.49; net revs grew 69% y/y to $66.3 mln vs. $66.4 mln consensus.

5:04PM Anadigics lowers Q3 guidance below consensus (ANAD) 5.93 +0.00 : Co issues downside guidance for Q3 (Sep), sees EPS of ($0.01)-0.01 vs. $0.12 First Call consensus; sees Q3 (Sep) revs of $62-65 mln vs. $78.03 mln consensus. "As a result of the lower third quarter 2008 financial guidance and weakening economy, the Company reported that while it remains committed to the completion of construction of the facility in Kunshan, China by October 2008, as previously announced on July 22, 2008, it will defer the additional capital investment above the $49.88 million originally contemplated until the Company has better visibility as to when it needs the facility to become operational."

4:48PM Deckers Outdoor FY08 guidance calculation correction (DECK) 115.16 +3.18 : Co sees EPS growth of ~34%, up from 27% (which calc to ~$6.78 vs. $6.50 consensus); sees FY08 revs growth of 43%, up from 31% (which calc to ~$641.97 mln vs. $599.15 mln consensus). The original comment's calculations were incorrect and have been corrected.

4:47PM Assured Guaranty misses by $0.08, beats on revs (AGO) 13.74 -1.26 : Reports Q2 (Jun) earnings of $0.42 per share, excluding non-recurring items, $0.08 worse than the First Call consensus of $0.50; revenues rose 40.2% year/year to $118.3 mln vs the $117.1 mln consensus. "Our second quarter results for new business production in both direct and reinsurance reflect our strong position in a difficult marke... Our overall credit profile across our entire portfolio remained strong during the quarter with only a modest increase in our Closely Monitored Credit list. We did increase loss estimates on one closed end second lien deal. With regard to Moody's decision to place our ratings under review for possible downgrade, we hope that Moody's will reach a timely and favorable resolution and are committed to working with them to achieve this. We have had several discussions with them in the past two weeks and expect several more meetings and discussions to occur as we look to get more clarity on their specific issues and potential solutions."

4:33PM Darling Intl beats by $0.05, beats on revs (DAR) 15.02 -0.35 : Reports Q2 (Jun) earnings of $0.29 per share, $0.05 better than the First Call consensus of $0.24; revenues rose 38.6% year/year to $220.9 mln vs the $205.2 mln consensus.

4:33PM PowerSecure beats by $0.07, beats on revs (POWR) 6.07 -0.27 : Reports Q2 (Jun) earnings of $0.29 per share, $0.07 better than the First Call consensus of $0.22; revenues rose 85.8% year/year to $42 mln vs the $35.3 mln consensus. Co says, "We continue to be bullish on both the needs we see developing across the energy space and our proven ability to deliver solutions which satisfy those needs. We are encouraged by our strong performance this quarter, and the growth in our backlog."

4:21PM Perini beats by $0.03, beats on revs; reaffirms FY08 EPS below consensus, revs in-line; reafrirms FY09 EPS in-line, revs above consensus (PCR) 29.03 -0.39 : Reports Q2 (Jun) earnings of $1.03 per share, $0.03 better than the First Call consensus of $1.00; revenues rose 20.6% year/year to $1.39 bln vs the $1.31 bln consensus. Co reaffirms guidance for FY08, sees EPS of $3.50-3.75 vs. $3.76 consensus; sees FY08 revs of $5.5-5.9 bln vs. $5.62 bln consensus. Co reaffirms guidance for FY09, sees EPS of $4.00-4.20 vs. $4.05 consensus; sees FY09 revs of $7.3-7.8 bln vs. $6.06 bln consensus.

Earnings - 6th Aug 2008

4:21PM Emulex beats by $0.01, misses on revs; guides Q1 EPS below consensus, revs below consensus; announces $100 mln share buyback (ELX) 11.96 +0.27 : Reports Q4 (Jun) earnings of $0.22 per share, $0.01 better than the First Call consensus of $0.21. Co issues downside guidance for Q1, sees EPS of $0.18-0.20 vs. $0.22 consensus; sees Q1 revs of $108-111 mln vs. $116.30 mln consensus. "In early August, the Board of Directors approved approximately $40 million of share repurchases in the first quarter of fiscal 2009, which is the remaining amount available under the existing 2006 Share Repurchase Plan. In addition, the Board also authorized a new plan of $100 million of share repurchases."

4:21PM Ntelos Holdings reports Q2 earnings, misses on revs, raises FY08 EBITDA guidance (NTLS) 24.15 -0.12 : Reports Q2 (Jun) earnings of $0.46 per share, including $9.5 mln gain on interest rate swap, may not compare to the First Call consensus of $0.22; revenues rose 5.7% year/year to $131 mln vs the $132.5 mln consensus. The company is increasing its 2008 guidance for consolidated adjusted EBITDA to now be between $224-$228 mln, from the range of $216-$221 mln previously provided.

4:18PM World Fuel Svcs beats by $0.22, beats on revs (INT) 25.15 -0.80 : Reports Q2 (Jun) earnings of $0.71 per share, $0.22 better than the First Call consensus of $0.49; revenues rose 72.7% year/year to $5.65 bln vs the $4.54 bln consensus.

4:16PM Allion Healthcare beats by $0.02, beats on revs, guides Q3 revs above consensus (ALLI) 5.35 -0.16 : Reports Q2 (Jun) earnings of $0.11 per share, $0.02 better than the First Call consensus of $0.09; revenues rose 38.8% year/year to $86.4 mln vs the $82.5 mln consensus. For Q3, co expects revenue of $86-88 mln vs. $83.5 mln consensus; co expects Q3 EPS of $0.10-0.11 vs consensus of $0.10.

4:16PM PharMerica beats by $0.05, reports revs in-line; guides FY08 EPS in-line, revs in-line (PMC) 23.17 -0.62 : Reports Q2 (Jun) earnings of $0.22 per share, $0.05 better than the First Call consensus of $0.17; revenues rose 180.4% year/year to $486.3 mln vs the $483.1 mln consensus. Co issues in-line guidance for FY08, sees EPS of $0.74-0.83 vs. $0.80 consensus; sees FY08 revs of $1.945-1.965 bln vs. $1.95 bln consensus. The fiscal 2008 earnings guidance above does not consider any integration, merger related costs or other charges the Corporation may incur. The integration, merger related costs and other charges are expected to exceed $15.0 million for fiscal year 2008.

4:12PM CDC Corp beats by $0.03, beats on revs (CHINA) 3.05 +0.15 : Reports Q2 (Jun) earnings of $0.04 per share, $0.03 better than the First Call consensus of $0.01; revenues rose 10.2% year/year to $111 mln vs the $103.6 mln consensus. Total revenue for CDC Games during Q2 was $10.8 mln. This represents an increase of 24% from 1Q08, and was the second consecutive quarter of sequential-quarter growth for CDC Games. Co states, "...Our cash balance remains very strong with non-GAAP cash and cash equivalents equal to $233 mln, and we have continued to generate cash from operations. We believe that our stock is undervalued as indicated by our continued commitment to the company's stock buyback program, as well as my personal purchases."

4:11PM Fuel Systems Solutions beats by $0.02, beats on revs; guides FY08 revs below consensus (FSYS) 41.56 -0.63 : Reports Q2 (Jun) earnings of $0.29 per share, including impairment charges, $0.02 better than the First Call consensus of $0.27; revenues rose 49.8% year/year to $98.3 mln vs the $93 mln consensus. Co issues downside guidance for FY08, sees FY08 revs of $350 vs. $354.90 mln consensus. Co increasing its gross profit margin to approximately 27% and operating margin to approximately 12%."

4:10PM EnerNOC beats by $0.03, beats handily on revs; guides FY08 revs in-line (ENOC) 14.14 +0.06 : Reports Q2 (Jun) loss of $0.54 per share, $0.03 better than the First Call consensus of ($0.57); revenues rose 97.1% year/year to $23.7 mln vs the $19.4 mln consensus. Co issues in-line guidance for FY08, sees FY08 revs of $101-107 mln vs. $103.0 mln consensus. Co continues to expect to generate positive cash flow from operations in 2H09 and that 2010 will be its first full year of profitability.

4:09PM California Pizza reports EPS in-line, revs in-line; guides FY08 EPS in-line (CPKI) 14.01 -0.39 : Reports Q2 (Jun) earnings of $0.26 per share as pre-announced on 7/09/2008, in-line with the First Call consensus of $0.26; revenues rose 11.4% year/year to $176.6 mln as pre-announced on 7/09/2008 vs the $176.8 mln consensus. Co raised their guidance for FY08, sees EPS of $0.65-0.70 up from $0.59-0.65 vs. $0.70 consensus.Co sees comparable restaurant sales of negative 1% to 0%, the opening 12 full service restaurants, and the Opening nine international full service franchise restaurants.

4:08PM The Knot misses by $0.02, misses on revs; lowers FY08 rev guidance below consensus (KNOT) 8.84 +0.10 : Reports Q2 (Jun) earnings of $0.07 per share, $0.02 worse than the First Call consensus of $0.09; revenues rose 0.7% year/year to $28.7 mln vs the $31.2 mln consensus. Co lowers guidance for FY08, sees FY08 revs up 9-11%, or roughly $107.6-109.5 mln vs. $111.45 mln consensus. "The second quarter proved to be challenging on a number of fronts. Given the weak economic environment and recent revenue results, we're taking a conservative stance and lowering our guidance for percentage revenue growth for 2008 from mid-teens to 9-11%.... We've made considerable progress toward completing our platform investments and upgrades. We look forward to successfully concluding this investment cycle, and we expect that the changes we're implementing today will support sustained long-term growth and profitability for The Knot in the years to come."

4:08PM Deckers Outdoor beats by $0.15, beats on revs; guides Q3 EPS below consensus, revs in-line; raises FY08 guidance (DECK) 115.16 +3.18 : Reports Q2 (Jun) earnings of $0.39 per share, excluding non-recurring items, $0.15 better than the First Call consensus of $0.24; revenues rose 72.9% year/year to $91.1 mln vs the $78.6 mln consensus. Co issues mixed guidance for Q3, sees EPS growth of 12% (which calc to ~$1.65 vs. $2.00 consensus); sees Q3 revs growth of 34% (which calc to ~$173.37 mln vs. $171.79 mln consensus). Co raises guidance for FY08, sees EPS growth of ~34%, up from 27% (which calc to ~$6.78 vs. $6.50 consensus); sees FY08 revs growth of 43%, up from 31% (which calc to ~$641.97 mln vs. $599.15 mln consensus).

4:07PM Sapient beats by $0.03, beats on revs (SAPE) 7.07 -0.01 : Reports Q2 (Jun) earnings of $0.09 per share, $0.03 better than the First Call consensus of $0.06; revenues rose 27.9% year/year to $170.3 mln vs the $158.4 mln consensus.

7:07PM Providence Service Corp beats by $0.01, reports revs in-line; lowers FY08 EPS below consensus, revs below consensus (PRSC) 11.87 +0.10 : Reports Q2 (Jun) earnings of $0.27 per share, $0.01 better than the First Call consensus of $0.26; revenues rose 177.7% year/year to $173 mln vs the $171.8 mln consensus. Co lowers guidance for FY08, sees EPS of $1.00-1.01 vs. $1.04 consensus, down from $1.45-1.50; lowers FY08 revs to $650 mln vs. $657.03 mln consensus, down from $673 mln. Upside to this guidance could come from delayed new business procurements that could be worth up to approximately $100 million in revenue annually, possible payer rate adjustments, potential increased business and/or retroactive rate increases. However in the current economic environment it is uncertain if any of the above will occur in 2008.

6:23PM Republic Airways beats by $0.10, beats on revs (RJET) 9.29 -0.22 : Reports Q2 (Jun) earnings of $0.64 per share, excluding non-recurring items, $0.10 better than the First Call consensus of $0.54; revenues rose 22.2% year/year to $391.4 mln vs the $368.2 mln consensus.

5:37PM American Intl misses by $1.14 (AIG) 29.09 -0.80 : Reports Q2 (Jun) loss of $0.51 per share, excluding non-recurring items, $1.14 worse than the First Call consensus of $0.63. Included in the second quarter 2008 net loss and adjusted net loss was a pre-tax charge of approximately $5.56 billion ($3.62 billion after tax) for a net unrealized market valuation loss related to the AIG Financial Products Corp. (AIGFP) super senior credit default swap portfolio. In addition, the second quarter of 2008 included a pre-tax net loss of $518 mln ($337 mln after tax) for a credit valuation adjustment on AIGFP's assets and liabilities in accordance with FAS 157 and FAS 159. Co says, The continuation of the weak U.S. housing market and disruption in the credit markets, as well as global equity market volatility, had a substantial adverse effect on AIG's results in the second quarter... Our second quarter results were adversely affected by the severe conditions in the housing and credit markets and a very difficult investment environment. These results do not reflect the earnings power and potential of AIG's businesses and it is clear that we have a lot of work to do to restore AIG's profitability to where it should be. We are conducting a comprehensive review of all AIG's businesses with the objectives of improving results, reducing AIG's risk profile and protecting our capital base. We are examining every business, as well as the assumptions underlying how we do business in the markets where we have a presence. We are considering all options. Our goals are straightforward - to determine the optimal portfolio of businesses for AIG, sharpen our risk management and capital allocation processes, reduce expenses and continue to strengthen our accounting and reporting infrastructure.

5:05PM China Digital TV beats by $0.01, beats on revs; guides Q3 revs below consensus as orders shift into Q4 (STV) 12.30 +0.95 : Reports Q2 (Jun) earnings of $0.20 per share, $0.01 better than the First Call consensus of $0.19; net revenue rose 74.2% year/year to $19.4 mln vs the $18.8 mln consensus. Co issues downside guidance for Q3, sees Q3 net revenue of $15.5-16.5 mln vs. $21.1 mln consensus. Co issues in-line guidance for FY08, sees FY08 revs of $80-83 mln vs. $82.7 mln consensus. Co says that in May, a massive earthquake hit Sichuan province in southwestern China causing certain network operators to focus on recovery efforts and postpone planned network upgrades. Another macro issue affecting Q3 is the 2008 Beijing Olympic Games. The Company has found a great number of operators have decided to wait until after the Games to make any technological changes to their network systems, ensuring that all existing systems are functioning properly during the Olympic Games. These operators will delay placing smart card orders. Both of these one-time events will impact Q3 results. Co expects many of the orders deferred in Q3 will be made up in Q4. Therefore, for the full year 2008, the co maintains the forecast of smart card shipment volume at 11 mln.

5:03PM 51job misses by $0.04, misses on revs; guides Q3 EPS below consensus, revs below consensus (JOBS) 15.12 +0.62 : Reports Q2 (Jun) earnings of $0.10 per share, $0.04 worse than the First Call consensus of $0.14; revenues were $31.9 mln vs the $33.8 mln consensus. Co issues downside guidance for Q3, sees EPS of $0.11-0.14 vs. $0.15 consensus; sees Q3 revs of $29.9-31.3 mln vs. $35.19 mln consensus. "Despite this difficult market environment, we continue to view 2008 as a year of investment and will remain aggressive in executing our strategic initiatives of new product development and brand building. We manage our business for the long term and will not sacrifice future growth for short-term results. We strongly believe these investments will enable us to extend our market leadership position in China and position us for higher growth and profitability when economic conditions improve."

5:01PM Sina beats by $0.03, beats on revs; guides Q3 revs above consensus (SINA) : Reports Q2 (Jun) earnings of $0.43 per share, $0.03 better than the First Call consensus of $0.40; revenues rose 52.7% year/year to $91.3 mln vs the $89.5 mln consensus. Co issues upside guidance for Q3, sees Q3 revs of $100-104 mln vs. $98.30 mln consensus. "... Our online advertising business in China, in particular, continues to be robust, growing 59% year over year, and was a major driving force in allowing us to achieve a net income growth of 74% year over year... 'We expect SINA's advertising momentum to further accelerate in the third quarter, as we are prepared to provide an unprecedented online media coverage of the Beijing Olympic Games.''

5:01PM Medical Staffing misses by $0.02, misses on revs (MRN) 3.14 +0.15 : Reports Q2 (Jun) earnings of $0.03 per share, excluding non-recurring items, $0.02 worse than the First Call consensus of $0.05; revenues rose 52.1% year/year to $143 mln vs the $147.1 mln consensus.