Earnings - 28th April 2009 (1)

6:04PM Cabot Oil & Gas beats by $0.03, beats on revs (COG) 28.80 +0.67 : Reports Q1 (Mar) earnings of $0.41 per share, excluding non-recurring items, $0.03 better than the First Call consensus of $0.38; revenues rose 6.5% year/year to $233.9 mln vs the $212.6 mln consensus.

5:36PM VisionChina Media misses by $0.03, misses on revs; guides Q2 revs below consensus; reaffirms FY09 revs guidance (VISN) 6.27 -0.31 : Reports Q1 (Mar) earnings of $0.09 per share, $0.03 worse than the First Call consensus of $0.12; revenues rose 100.7% year/year to $27.3 mln vs the $28.9 mln consensus. Co issues downside guidancefor Q2, sees Q2 revs of $29.2-32.2 mln vs. $34.08 mln consensus. Co reaffirms guidancefor FY09, sees FY09 revs of $141-157 mln vs. $151.79 mln consensus. Second quarter 2009 net income excluding share-based compensation expenses and amortization of intangible assets (non-GAAP) is expected to be between $6.5 mln and $9 mln. Net income in the full year 2009, excluding share-based compensation expenses and amortization of intangible assets (non-GAAP), is expected to be between $49 mln and $61 mln.

4:50PM American Commercial Lines misses by $0.06, misses on revs (ACLI) 4.23 -0.10 : Reports Q1 (Mar) loss of $0.03 per share, ex-items, $0.06 worse than the First Call consensus of $0.03; revenues fell 27.2% year/year to $196.8 mln vs the $252.4 mln consensus.

4:21PM Textron beats by $0.25, misses on revs; guides FY09 EPS below consensus, revs below consensus (TXT) 11.20 -0.19 : Reports Q1 (Mar) earnings of $0.26 per share, excluding non-recurring items, $0.25 better than the First Call consensus of $0.01; revenues fell 23.6% year/year to $2.53 bln vs the $2.78 bln consensus. Co issues downside guidancefor FY09, sees EPS of $0.45-0.75, excluding non-recurring items, vs. $0.97 consensus; sees FY09 revs of $11 bln vs. $11.8 bln consensus. "This lower earnings estimate primarily reflects lower expected demand at Cessna, and higher losses at TFC related to the current economic environment and the impact of faster liquidations. Manufacturing free cash flow is still expected to be about $400 million."

4:19PM CB&I beats by $0.06, beats on revs (CBI) 9.31 +0.08 : Reports Q1 (Mar) earnings of $0.51 per share, $0.06 better than the First Call consensus of $0.45; revenues fell 10.0% year/year to $1.3 bln vs the $1.25 bln consensus.

4:19PM V.F. Corp reports Q1 earnings, reports revs in-line; issues FY09 EPS guidance (VFC) 67.28 +1.18 : Reports Q1 (Mar) earnings of $1.01 per share, ex-items, may not compare to the First Call consensus of $0.94; revenues fell 6.6% year/year to $1.73 bln vs the $1.74 bln consensus. Co issues guidance for FY09, sees EPS of $5.50-$5.80, ex-items, vs. $5.31 consensus. Actions taken in the fourth quarter of 2008 to reduce costs by $100 mln beginning this year are on track, and we will continue to be vigilant about controlling costs across all businesses.

4:17PM Advent Software beats by $0.13, beats on revs; guides Q2 revs below consensus; guides FY09 revs in-line (ADVS) 32.36 -0.54 : Reports Q1 (Mar) earnings of $0.38 per share, excluding non-recurring items, $0.13 better than the First Call consensus of $0.25; revenues rose 18.4% year/year to $72.8 mln vs the $69 mln consensus. Co issuesdownside guidance for Q2, sees Q2 revs of $68-70 mln vs. $71.03 mln consensus. Co issues in-line guidance for FY09, sees FY09 revs of $280-290 mln vs. $289.10 mln consensus

4:11PM Panera Bread reports Q1 (Mar) results, revs slightly above consensus; reaffirms FY09 EPS guidance (PNRA) 62.93 -0.37 : Reports Q1 (Mar) earnings of $0.57 per share, including the impact of a $0.01 per diluted share charge for the write-off of smallwares related to the rollout of new china, may not compare directly to the First Call consensus of $0.57; revenues rose 5.1% year/year to $320.7 mln vs the $317.7 mln consensus. Coreaffirms guidance for FY09, sees EPS of 2.55-2.71 vs. $2.63 consensus. Comparable system-wide bakery-cafe sales increased 0.7% versus the comparable period in fiscal 2008 (0.3% in Company-owned and 1.0% in franchise-operated comparable bakery-cafes). These first quarter comparable sales results were impacted positively by approximately 0.5% from the shift of the Easter holiday from the first quarter of fiscal 2008 to the second quarter of fiscal 2009. Thus, excluding the impact of the Easter shift the Company experienced essentially flat comparable bakery-cafe sales growth for the first quarter of fiscal 2009. Similarly, net of the impact from the Easter shift, the Company and its franchisees experienced essentially flat comparable bakery-cafe sales growth in the first several weeks of the second quarter of fiscal 2009... In the first quarter of fiscal 2009, the Company generated operating margin improvement of approximately 200 basis points compared to the first quarter of fiscal 2008. This was primarily a result of the year-over-year benefits in wheat costs and franchise dough price increases implemented in fiscal 2008, the Company's continuing category management initiatives, and favorable comparisons against one-time charges in the 1Q08.

4:08PM Zoran beats by $0.16, beats on revs; guides Q2 above consensus (ZRAN) 9.10 +0.24 : Reports Q1 (Mar) loss of $0.34 per share, excluding non-recurring items, $0.16 better than the First Call consensus of ($0.50); revenues fell 37.2% year/year to $68.5 mln vs the $52.9 mln consensus. Co issues upside guidance for Q2, sees EPS of $(0.24)-(0.20), excluding non-recurring items, vs. ($0.36) consensus; sees Q2 revs of $85-90 mln vs. $64.5 mln consensus. Co says it achieved 39% sequential revenue growth in DTV, driven by increasing demand for low-to mid-range LCD TVs, where co has a leading position. Several of its largest customers have successfully expanded their presence in major US retail channels, a trend the co expects to continue to benefit from in the future. In digital cameras, co saw a strong increase in demand towards the end of the quarter, indicating that channel inventory has been substantially reduced. While consumer spending is far from previous levels and visibility into 2H09 remains limited, co is encouraged by these positive trends and is currently expecting a stronger Q2.

4:06PM Beckman Coulter beats by $0.12, misses on revs (BEC) 52.51 +1.04 : Reports Q1 (Mar) earnings of $0.71 per share, $0.12 better than the First Call consensus of $0.59; revenues fell 5.3% year/year to $691.5 mln vs the $705.6 mln consensus. "We are affirming our outlook, despite the potential for lower cash instrument sales in 2009. Solid constant currency recurring revenue gains are expected to continue with full year growth of 6% to 7%. As a result, on a constant currency basis, our 2009 full year outlook for revenue growth remains at 4% to 6%, or flat on a reported basis."

4:06PM Life Technologies beats by $0.15, beats on revs; guides FY09 EPS in-line (LIFE) 32.03 +1.22 : Reports Q1 (Mar) earnings of $0.72 per share, $0.15 better than the First Call consensus of $0.57; revenues rose 124.1% year/year to $784.9 mln vs the $749.4 mln consensus. Co issues in-line guidance for FY09, sees EPS of $2.40-$2.55 vs. $2.52 consensus.

4:05PM Cerner beats by $0.01, misses on revs; guides Q2 EPS in-line, revs in-line; guides FY09 EPS in-line, revs in-line (CERN) 48.65 +0.96 : Reports Q1 (Mar) earnings of $0.52 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.51; revenues rose 1.9% year/year to $392.3 mln vs the $417.9 mln consensus. Co issuesin-line guidance for Q2, sees EPS of $0.52-0.58, excluding non-recurring items, vs. $0.56 consensus; sees Q2 revs of $415-435 mln vs. $432.90 mln consensus. Co issues in-line guidance for FY09, sees EPS of $2.40-2.50, excluding non-recurring items, vs. $2.42 consensus; sees FY09 revs of $1.75-1.80 bln vs. $1.76 bln consensus.

4:03PM Stericycle beats by $0.01, reports revs in-line (SRCL) 49.51 +0.67 : Reports Q1 (Mar) earnings of $0.47 per share, $0.01 better than the First Call consensus of $0.46; revenues rose 8.8% year/year to $277.1 mln vs the $277.7 mln consensus.

4:03PM Monolithic Power beats by $0.03, beats on revs; guides Q2 revs above consensus (MPWR) 18.02 +0.30 : Reports Q1 (Mar) earnings of $0.06 per share, excluding non-recurring items, $0.03 better than the First Call consensus of $0.03; revenues fell 17.2% year/year to $29.3 mln vs the $26.8 mln consensus. Co issues upside guidance for Q2, sees Q2 revs of $36-40 mln vs. $29.2 mln consensus. Co says in the second half of the quarter, it saw increased turns activities. As a result, Q1 revenue was better than expected. Co is cautiously optimistic about Q2.

9:04AM Franklin Resources misses by $0.14, beats on revs (BEN) 60.56 : Reports Q2 (Mar) earnings of $0.48 per share, $0.14 worse than the First Call consensus of $0.62; revenues fell 39.3% year/year to $912.3 mln vs the $898.2 mln consensus.  Total assets under management by the company's subsidiaries were $391.1 bln at March 31, 2009, as compared to $416.2 bln at December 31, 2008 and $591.1 bln at March 31, 2008. Simple monthly average assets under management during the quarter ended March 31, 2009 were $396.6 bln, as compared to $438.7 bln in the prior quarter and $610.2 bln in the same quarter a year ago. Equity assets comprised 44% of total assets under management at March 31, 2009, as compared to 47% of total assets under management at December 31, 2008 and 55% of total assets under management at March 31, 2008. Fixed-income assets comprised 35% of total assets under management at March 31, 2009, as compared to 32% of total assets under management at December 31, 2008 and 25% of total assets under management at March 31, 2008. Hybrid assets accounted for 19% of total assets under management at March 31, 2009, December 31, 2008 and March 31, 2008. Net new flows for the quarter ended March 31, 2009 were $(5.5) bln, as compared to $(18.2) bln for the prior quarter and $(6.1) bln for the same quarter a year ago.

8:11AM AGCO Corp beats by $0.13, reports revs in-line; guides FY09 EPS below consensus, revs below consensus (AG) 24.25 : Reports Q1 (Mar) earnings of $0.36 per share, $0.13 better than the First Call consensus of $0.23; revenues fell 11.6% year/year to $1.58 bln vs the $1.57 bln consensus. Co issues downside guidance for FY09, sees EPS of 2.00-2.50 vs. $2.76 consensus; sees FY09 revs of 6.7-7.0 bln vs. $7.34 bln consensus. AGCO's earnings are expected to be impacted by lower sales and production volumes and by increased engineering expenses for new product development and Tier 4 emission requirements. The largest impacts from production cuts and working capital reduction initiatives are expected to be incurred in the second quarter. As a result, AGCO's earnings per share in the second quarter are expected to be significantly lower than reported for the second quarter of 2008.

8:03AM Hecla Mining beats by $0.08, beats on revs (HL) 2.60 : Reports Q1 (Mar) earnings of $0.02 per share, $0.08 better than the First Call consensus of ($0.06); revenues rose 45.9% year/year to $54.7 mln vs the $48 mln consensus. Co says, "We had a much improved first quarter with all operational benchmarks showing significant improvement compared with the second half of 2008. More tons of higher-grade material coupled with lower costs drove the results combined with some positive one-time items. We are clearly on track to hit our production and cost targets reversing the trend of rising costs experienced in 2008. Our outlook is very positive given the solid operational performance, stronger balance sheet, higher prices, and the ongoing exploration success at the Lucky Friday."

8:02AM Northwest Pipe beats by $0.05, beats on revs (NWPX) 32.40 : Reports Q1 (Mar) earnings of $0.28 per share, $0.05 better than the First Call consensus of $0.23; revenues fell 13.4% year/year to $81.4 mln vs the $79.4 mln consensus. Co states, "Looking ahead, we expect another challenging quarter before seeing improvement in the second half of the year. "Our backlog grew to $205 million during the quarter and, while this is clearly a positive, we have a greater than usual amount of backlog that is not ready for current production. The backlog is also uneven across our plants. Some have substantial backlogs and others are relatively light. Accordingly, we expect our Water Transmission production will be slow in the second quarter, similar to the first quarter. We expect another good bookings quarter which should lead to a higher backlog at June 30th and stronger production schedules over the last half of the year."

8:01AM PACCAR beats by $0.02, misses on revs (PCAR) 34.16 : Reports Q1 (Mar) earnings of $0.07 per share, $0.02 better than the First Call consensus of $0.05; revenues fell 52.2% year/year to $1.73 bln vs the $1.95 bln consensus.

7:54AM FPL Group beats by $0.13, beats on revs; guides FY09 EPS above consensus; guides FY10 EPS above consensus (FPL) 51.28 : Reports Q1 (Mar) earnings of $0.90 per share, excluding non-recurring items, $0.13 better than the First Call consensus of $0.77; revenues rose 7.9% year/year to $3.71 bln vs the $3.57 bln consensus. Co issues upside guidance for FY09, sees EPS of $4.20-4.40 vs. $4.06 consensus. Co issues upside guidance for FY10, sees EPS of $4.65-5.05 vs. $4.56 consensus. Co says, "FPL Group had a very good first quarter, with adjusted earnings per share rising 18 percent year over year, largely as a result of strong results from our NextEra Energy Resources subsidiary. At Florida Power & Light, we announced proposed investments that will significantly improve the electrical system for our customers - specifically, a large-scale deployment of 'smart grid' technology in Miami, and a new natural gas pipeline to provide increased energy security. As pleased as we are with FPL Group's current results, we are even more optimistic about the future. The reason is simple: We believe that the policy climate in the nation is trending in a direction highly favorable to power companies with low emissions profiles and significant clean-energy fleets."

Earnings - 28th Jan 2009

5:23PM Trinity Industries reports that it delivered ~7,050 railcars in the fourth quarter of 2008; sees Q1 EPS of $0.25-0.35 vs $0.48 First Call consensus (TRN) 13.31 +0.33 : Co reports that it delivered ~7,050 railcars in the fourth quarter of 2008. This represents an increase as compared to ~6,740 railcar deliveries in the fourth quarter of 2007. The Company received orders for approximately 1,180 railcars during the fourth quarter of 2008. The Company has elected to indefinitely defer the investment of $800 million in approximately 10,000 railcars for multiple lessees in the ethanol industry that were scheduled for delivery to Trinity's leasing company in 2010 and 2011. Following the removal of these railcars, TrinityRail's order backlog at December 31, 2008 totaled approximately $720 million, representing approximately 8,260 railcars. Co's order backlog now includes approximately 7,010 railcars scheduled for delivery in 2009 and approximately 1,250 railcars scheduled for delivery in 2010. Railcars for use in the ethanol industry comprise approximately 1,740 of the railcars in the updated order backlog... As a result of the declining demand for railcars, the Company has idled, or is in the process of idling, four railcar manufacturing facilities. Co has also idled a wind tower facility in Oklahoma, consolidating capacity. At this time, the Company does not plan to convert any railcar facilities to wind tower operations... Co sees Q1 EPS of $0.25-0.35 vs $0.48 First Call consensus

4:20PM Norfolk Southern beats by $0.03, misses on revs (NSC) 37.65 +2.35 : Reports Q4 (Dec) earnings of $1.21 per share, $0.03 better than the First Call consensus of $1.18. The fourth-quarter operating ratio reached a record 67.5%, a 4.5 percentage point improvement compared with the same period last year. During 2008, NS purchased and retired 19.4 mln shares of common stock at a cost of $1.1 bln. Co says, "Norfolk Southern delivered strong financial results in the fourth quarter, despite economic conditions that reduced freight volumes... While it is unclear how long the downturn will last, long-term trends point to freight railroads as the preferred way to move goods and relieve highway congestion. We will continue to make investments in our company and, in 2009, plan to invest $1.4 bln in capital improvements to maintain the safety and quality of our franchise, improve operational efficiency and service, and support the business growth we expect in future years."

4:07PM DeVRY reports EPS in-line, beats on revs (DV) 59.57 -1.27 : Reports Q2 (Dec) earnings of $0.59 per share, in-line with the First Call consensus of $0.59; revenues rose 35.0% year/year to $369.6 mln vs the $364.2 mln consensus. As previously announced in December 2008, DeVry University new undergraduate enrollment increased 19.7% and total undergraduate enrollment rose 16.9%. At Keller Graduate school of Management, the number of coursetakers in November 2008 increased 13.7%... Becker's operations were affected by the continued deterioration in the financial services sector during the quarter. It expects these market conditions will persist at least through calendar 2009. Becker remains focused on long-term growth and is exploring additional markets and industries to further leverage its leadership in education for accounting and finance professionals... "We are mindful of the challenging economic environment we face and continue to invest in our growth opportunities while maintaining an appropriately conservative capital structure," added CEO Daniel Hamburger. "We believe this prudent approach to the execution of our strategic plan creates a balance that allows us to make investments in academic quality, student services and further diversification."

4:03PM Stryker reports EPS in-line, revs in-line; guides FY09 EPS above consensus (SYK) 41.05 +1.49 : Reports Q4 (Dec) earnings of $0.74 per share, excluding non-recurring items, in-line with the First Call consensus of $0.74; revenues rose 3.6% year/year to $1.72 bln vs the $1.72 bln consensus. Co issues upside guidance for FY09, sees EPS of $3.12-3.22 vs. $3.12 consensus. The financial forecast for 2009 anticipates a constant currency net sales increase in the range of 6% to 9%. If foreign currency exchange rates hold near current levels, the Company anticipates an unfavorable impact on net sales of approximately 4.5% to 5.5% in the first quarter of 2009 and an unfavorable impact on net sales of approximately 3.5% to 4.5% for the full year of 2009.

4:02PM Diamond Foods raises Jan quarter guidance to $0.29-0.35 vs $0.27 First Call consensus; raises FY09 guidance (DMND) 24.90 -0.03 : Co raises Q2 (Jan) quarter guidance to $0.29-0.35 vs $0.27 First Call consensus; raises FY09 guidance to $1.25-1.32 vs $1.28 First Call consensus. Firm cites the strength of improving gross margins, which are now expected to be more than 400 basis points above the prior year's level. "Based on the solid performance of our Diamond culinary nut business and our snack portfolio, which consists of Emerald snack nuts and Pop Secret microwave popcorn, we now expect to achieve EPS growth of between 37 to 45 percent for the fiscal year. We are pleased by the complimentary nature of our expanded snack portfolio, and believe we will benefit from the synergy of the larger business in the future."

8:41AM Avery Dennison beats by $0.22, misses on revs (AVY) 27.84 : Reports Q4 (Dec) earnings of $0.65 per share, excluding non-recurring items, $0.22 better than the First Call consensus of $0.43; revenues fell 11.8% year/year to $1.51 bln vs the $1.6 bln consensus. Co elects not to provide FY09 earnings forecast due to decreased visibility. Co say raw costs declined 4% in FY08. Co provides two scenarios for 2009:  If revenue declines 8% on an organic basis, co sees adjusted EPS of $1.00 and FCF of $260.0 mln. If revenue declines 3% on an organic basis, co sees adjusted EPS of $2.00 and FCF of $300.0 mln. Briefing.com note:  First Call consensus calls for FY09 EPS of $2.66.

8:36AM Temple-Inland beats by $0.14, beats on revs (TIN) 4.46 : Reports Q4 (Dec) earnings of $0.11 per share, excluding tax adjustments, $0.14 better than the First Call consensus of ($0.03); revenues rose 3.8% year/year to $973 mln vs the $908.3 mln consensus. Co says, "As we enter 2009, economic conditions continue to be uncertain. However, the actions we took in 2008 to lower our cost structure significantly throughout our co, drive down our inventories and grow our business will serve us well in 2009... In Building Products, shipments for all of our products declined in the fourth quarter due to difficult market conditions and the seasonal slowdown in demand. We took action in the quarter to further drive down our costs including exiting the hardboard siding business and reducing our headcount by an additional 11%. We also successfully introduced a new fiberglass-faced gypsum sheathing product, GreenGlass, for use in commercial and residential applications during the quarter... In Corrugated Packaging, fourth quarter 2008 was our most profitable quarter of the year. We operated well and benefited from our box plant transformation, acquisition of PBL, higher box prices and lower input costs. We took 108,000 tons of mill downtime in the quarter to match our production to our demand as our box shipments were down approximately 7% compared with year ago levels. We enter 2009 with the lowest inventory levels in the last three years."

8:28AM Peabody Energy beats by $0.37, beats on revs (BTU) 23.84 : Reports Q4 (Dec) earnings of $1.11 per share, $0.37 better than the First Call consensus of $0.74; revenues rose 61.0% year/year to $1.88 bln vs the $1.71 bln consensus. Co said,  "While the world faces significant near-term economic challenges, Peabody's middle- to long-term outlook remains positive," said Boyce. "We believe that inventories will rebalance, steel demand will recover, new coal plants will come on line and existing plants will run at higher utilization, while difficult geology and lack of capital access will deplete supply and limit infrastructure development. As recent global outlooks have forecast, nations will continue to turn to coal in increasing quantities, and Peabody remains best positioned in the industry to serve this growing demand."

8:11AM Energizer beats by $0.20, misses on revs (ENR) 44.04 : Reports Q1 (Dec) earnings of $1.93 per share, excluding non-recurring items, $0.20 better than the First Call consensus of $1.73; revenues fell 12.4% year/year to $1.04 bln vs the $1.08 bln consensus. At prevailing currency rates as of January 20, 2009, co expects the overall operating profit impact of currency translation to be unfavorable $105 to $115 mln for the remainder of FY09 as compared to the same period in FY08.

8:05AM Rayonier beats by $0.05, beats on revs (RYN) 28.89 : Reports Q4 (Dec) earnings of $0.53 per share, $0.05 better than the First Call consensus of $0.48; revenues rose 25.7% year/year to $353.9 mln vs the $336.5 mln consensus. Co says, "Despite uncertain economic times, we expect our diverse mix of businesses to generate strong cash flows well in excess of our $2.00 per share dividend. With conservative debt levels, manageable debt maturities and a solid balance sheet, we should have significant operating flexibility... Due to the weak economy, we anticipate 2009 results will be below 2008 across our three major business units... We expect that the weakened housing market will negatively impact our timber and real estate businesses, but anticipate continued interest in our non-strategic timberlands. In Performance Fibers, earnings are expected to be solid although below 2008 as strong demand for our cellulose specialties products is more than offset by higher costs and weakening fluff prices."

7:38AM Bristol-Myers beats by $0.05, misses on revs; reaffirms FY09 EPS guidance (BMY) 22.25 : Reports Q4 (Dec) earnings of $0.46 per share, $0.05 better than the First Call consensus of $0.41; revenues rose 4% year/year to $5.25 bln vs the $5.42 bln consensus. Co reaffirms guidance for FY09, sees EPS of $1.85-2.00 vs. $1.95 consensus. Key non-GAAP guidance assumptions include low single-digit revenue growth (mid-to-high single digit growth excluding foreign exchange); slight improvement in gross margins; advertising and promotion increase in the low-to-mid single-digit range; marketing, sales and administrative expense decrease in the low-to-mid single digits; research and development expense growth in the mid single-digit range; and an effective tax rate of approximately 24%. The company reaffirms guidance that it expects non-GAAP earnings per share from continuing operations to grow at a minimum of 15% compounded annual growth rate, from the 2007 base through 2010 without rebasing for the sale of the ConvaTec business, excluding costs associated with the PTI and other specified items that have not yet been identified and quantified.

7:33AM St. Jude Medical beats by $0.02, beats on revs; guides Q1 EPS in-line; guides FY09 EPS in-line (STJ) 31.68 : Reports Q4 (Dec) earnings of $0.60 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.58; revenues rose 11.2% year/year to $1.13 bln vs the $1.1 bln consensus. Co issues in-line guidance for Q1, sees EPS of $0.57-0.59 vs. $0.59 consensus. Co issues in-line guidance for FY09, sees EPS of $2.48-2.54 vs. $2.51 consensus.

7:31AM FPL Group beats by $0.01, beats on revs; guides FY09 EPS in-line (FPL) 48.94 : Reports Q4 (Dec) earnings of $0.90 per share, $0.01 better than the First Call consensus of $0.89; revenues rose 8.7% year/year to $4 bln vs the $3.87 bln consensus. Co issues in-line guidance for FY09, sees EPS of $4.05-4.25 vs. $4.08 consensus.

7:28AM Verizon reports EPS in-line, revs in-line (VZ) 30.99 : Reports Q4 (Dec) earnings of $0.61 per share, excluding non-recurring items, in-line with the First Call consensus of $0.61; revenues rose 3.4% year/year to $24.64 bln vs the $24.74 bln consensus. Coreports that it added 1.4 million wireless net customer additions, 303,000 net new FiOS TV customers and 282,000 net new FiOS Internet customers.

7:11AM Waters beats by $0.11, reports revs of $418.3 mln vs the $416.8 mln consensus (WAT) 36.85 : Reports Q4 (Dec) earnings of $1.07 per share, excluding intangibles amortization & a litigation adjustment, $0.11 better than the First Call consensus of $0.96; revenues fell 4.3% year/year to $418.3 mln vs the $416.8 mln consensus. Co says, "Overall, 2008 was a very successful year for Waters as non-GAAP E.P.S. were up 20% and cash from operations reached a record high. The challenges that we faced in the fourth quarter reflect the tougher economic environment that we are likely to continue to encounter in 2009. We are confident that we can manage our business effectively through this difficult period and we remain committed to new product research and customer support programs to ensure our long term growth and continued strong market position."

7:03AM BJ Services beats by $0.10, reports revs in-line (BJS) 11.92 : Reports Q1 (Dec) earnings of $0.56 per share, excluding $0.05 charge related to the settlement of a frozen US defined benefit pension plan, $0.10 better than the First Call consensus of $0.46; revenues rose 11.4% year/year to $1.43 bln vs the $1.43 bln consensus. "U.S. activity was bolstered somewhat by projects that had been delayed in the previous quarter due to hurricane activity along the Gulf Coast. Our Canada pressure pumping operations experienced higher volume and some pricing improvement sequentially. International pressure pumping activity was down sequentially, primarily as a result of anticipated customer and weather-related slowdowns, but showed marked year over year improvement in revenue and profitability, as a result of new contracts added during fiscal 2008 and more favorable weather conditions in most international markets between the two periods."

6:37AM Kinetic Concepts beats by $0.13, misses on revs; guides FY09 EPS above consensus, revs in-line (KCI) 21.83 : Reports Q4 (Dec) earnings of $0.98 per share, $0.13 better than the First Call consensus of $0.85; revenues rose 63.0% year/year to $492.5 mln vs the $505.7 mln consensus. Co issues mixed guidance for FY09, sees EPS of $3.95-4.10 vs. $3.42 consensus; sees FY09 revs of $2.0-2.06 bln vs. $2.03 bln consensus. In October 2008, KCI's Board of Directors authorized a share repurchase program for the repurchase of up to $100.0 mln in market value of KCI common stock through the third quarter of 2009. Through December 31, 2008, the co had repurchased $50.1 mln of KCI common stock at an average price of $24.12 per share. Gross profit margin for the fourth quarter of 2008 was 50.1% compared to 49.3% for the same period one year ago.

6:09AM DuPont misses by $0.04, misses on revs; guides Q1 EPS below consensus; guides FY09 EPS in-line (DD) 23.18 : Reports Q4 (Dec) loss of $0.28 per share, excluding non-recurring items, $0.04 worse than the First Call consensus of ($0.24); revenues fell 16.7% year/year to $5.82 bln vs the $6.17 bln consensus. Co issues downside guidance for Q1, sees EPS of $0.50-0.70 vs. $0.72 consensus. Co issues in-line guidance for FY09, sees EPS of $2.00-2.50 (prior range $2.25-2.75) vs. $2.19 consensus. Co expects that global macroeconomic conditions for Q109 will be similar to Q408, with very weak demand in most of the key markets, excluding agriculture. While favorable conditions in global agriculture markets are expected in 2009, lower demand for non-agriculture products and the impact of currency is expected to limit revenue growth in FY09. The co expects to continue an appropriate level of spending for high-growth, high-margin businesses, including seed products and photovoltaics.

1:26AM Jacobs beats by $0.01, beats on revs; guides FY09 EPS in-line (JEC) 40.56 : Reports Q1 (Dec) earnings of $0.90 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.89; revenues rose 30.8% year/year to $3.23 bln vs the $3.12 bln consensus. Co issues in-line guidance for FY09, sees EPS of 3.55-3.90 vs. $3.67 consensus (co reduces upper end of EPS guidance to $3.90). Co announces backlog totaling $16.0 bln at December 31, 2008, including a technical professional services component of $7.9 bln. This compares to total backlog and technical professional services backlog of $15.0 bln and $7.1 bln, respectively, at December 31, 2007. During Q109, JEC was notified by certain clients that they were cancelling projects that had been included in backlog. Accordingly, $840 mln of revenues was removed from backlog during the recent quarter.

1:04AM Allegiant Travel beats by $0.21, reports revs in-line; announces $25 mln share repurchase program (ALGT) 37.91 : Reports Q4 (Dec) earnings of $0.88 per share,$0.21 better than the First Call consensus of $0.67; revenues rose 21.3% year/year to $122.4 mln vs the $121.4 mln consensus. Co estimates that for Q109 scheduled total average air fare (the sum of air fare plus ancillary revenue per passenger), will be down 4% to 6% over the prior year or between $4 and $7. Decline in RPM should be more than offset by expected reduction in fuel cost per passenger and non-fuel cost per passenger (due to increased aircraft utilization) in the first quarter. Co announces $25 mln share repurchase program. "Our fourth quarter fuel price per gallon was down 21% year-over-year and a stunning 40% sequentially. The resulting reduction in fourth quarter operating cost helped pave the way to a record operating margin, with operating profit surging close to 400% year-over-year."

Earnings - 31st July 2008 (3)

9:07AM Pantry beats by $0.19, reports revs in-line (PTRY) 13.98 : Reports Q3 (Jun) earnings of $0.48 per share, $0.19 better than the First Call consensus of $0.29; revenues rose 20.1% year/year to $2.47 bln vs the $2.45 bln consensus. The Company is also updating its fiscal 2008 guidance ranges. Merchandise revenues are now expected to be between $1.62 bln and $1.65 bln, while retail gasoline sales are expected to be approximately 2.1 bln gallons. The merchandise gross margin is expected to be between 36.8% and 37.0%, with a retail gasoline gross margin between 10 and 12 cents per gallon. The Company now expects that fiscal 2008 store operating and general and administrative expenses will be between $605 mln and $610 mln, down from its previous guidance of between $615 mln and $630 mln.

8:49AM Apache beats by $0.19, beats on revs (APA) 116.56 : Reports Q2 (Jun) earnings of $4.28 per share, $0.19 better than the First Call consensus of $4.09; revenues rose 57.8% year/year to $3.9 bln vs the $3.82 bln consensus. During Q2, Apache received an average of $110.32 per barrel of oil, up 72% from the prior-year period, and $8.09 per thousand cubic feet (Mcf) of gas, up 47%

8:48AM KC Southern beats by $0.12, beats on revs (KSU) : Reports Q2 (Jun) earnings of $0.56 per share, $0.12 better than the First Call consensus of $0.44; revenues rose 13.8% year/year to $486.2 mln vs the $465.6 mln consensus. The revenue growth was attributable to a continued strong pricing environment, significant growth in certain business units and an increase in fuel surcharges.

8:32AM Borg Warner beats by $0.03, reports revs in-line; guides FY08 EPS in-line, revs below consensus (BWA) 40.41 : Reports Q2 (Jun) earnings of $0.78 per share, excluding non-recurring items, $0.03 better than the First Call consensus of $0.75; revenues rose 11.2% year/year to $1.52 bln vs the $1.52 bln consensus. Co issues mixed guidance for FY08, sees EPS of $2.80-2.95, excluding non-recurring items, vs. $2.87 consensus; sees FY08 revs of $5.754-5.861 vs. $5.98 bln consensus.

8:22AM Marathon Oil misses by $0.43, misses on revs (MRO) 45.13 : Reports Q2 (Jun) earnings of $1.08 per share, excluding special items, $0.43 worse than the First Call consensus of $1.51; revenues rose 31.6% year/year to $22.23 bln vs the $23.63 bln consensus. Crude oil refined during the second quarter of 2008 averaged 1,023,000 bpd, a 49,000 bpd decrease from the second quarter of 2007, and total refinery throughputs were 1,203,000 bpd, 6 percent lower than the 1,280,000 bpd in the second quarter of 2007.

8:17AM Goodyear Tire beats by $0.07, reports revs in-line (GT) 19.56 : Reports Q2 (Jun) earnings of $0.67 per share, excluding non-recurring items, $0.07 better than the First Call consensus of $0.60; revenues rose 6.5% year/year to $5.24 bln vs the $5.26 bln consensus.

8:15AM Exxon Mobil misses by $0.25 (XOM) 84.38 : Reports Q2 (Jun) earnings of $2.27 per share, excluding non-recurring items, $0.25 worse than the First Call consensus of $2.52; revenues rose 40.4% year/year to $138.07 bln. Record crude oil and natural gas realizations were partly offset by lower refining and chemical margins, lower production volumes and higher operating costs. ExxonMobil increased investments across all business lines to help meet global demand for crude oil, natural gas and finished products. Capital and exploration project spending increased to $7.0 billion in the second quarter, up 38% from last year. For the first half of 2008, spending on capital and exploration projects was $12.5 billion. On an oil-equivalent basis, production decreased 8% from the second quarter of 2007. During the second quarter of 2008, Exxon Mobil Corporation purchased 98 million shares of its common stock for the treasury at a gross cost of $8.8 billion.

8:11AM CryoLife beats by $0.04, beats on revs; issues segment guidance (CRY) 12.98 : Reports Q2 (Jun) earnings of $0.14 per share, $0.04 better than the First Call consensus of $0.10; revenues rose 18.3% year/year to $27.2 mln vs the $25.8 mln consensus. Tissue processing gross margins in 2Q08 were 46% compared to 40% in 2Q07. Guidance: The co now expects product and tissue processing revs for FY08 to be in the middle to upper end of its previously announced range of revs guidance, which is between $102.0-107.0 mln. Other revs for 2008 may reach between $700,000-900,000, primarily related to funding received from the Department of Defense in connection with the development of BioFoam. The co expects tissue processing revenues to be between $53.0-56.0 mln and BioGlue revenues to be between $47.0-49.0 mln for the FY08. Other implantable medical device revenues are expected to be approximately $2.0 mln in 2008, which includes an estimated $1.0 mln in revs from the distribution of Hemostase MPH. The co expects general, administrative, and marketing expenses of between $49.0-51.0 mln, and R&D expenses of between $6.0-8.0 mln for FY08.

8:08AM MasterCard beats by $0.09, beats on revs (MA) 270.73 : Reports Q2 (Jun) earnings of $2.11 per share, excluding non-recurring items, $0.09 better than the First Call consensus of $2.02; revenues rose 25.0% year/year to $1.25 bln vs the $1.21 bln consensus. Q2 gross dollar volume increased 12.8% y/y to $655 bln, compares to a 14.1% y/y increase in Q1; purchase volume increased 14.0% y/y to $493 bln, compares to a 15.0% y/y increase in Q1. Pricing changes contributed ~5 percentage points to the net revenue growth. During 2Q08, the company repurchased ~1.3 mln shares of Class A common stock at a cost of $355 mln, completing its aggregate authorized share repurchase program of $1.25 bln.

8:07AM Kellogg beats by $0.01, beats on revs; guides FY08 EPS in-line (K) 54.15 : Reports Q2 (Jun) earnings of $0.82 per share, $0.01 better than the First Call consensus of $0.81; revenues rose 10.9% year/year to $3.34 bln vs the $3.27 bln consensus. Co issues in-line guidance for FY08, sees EPS of $2.95-3.00 vs. $3.00 consensus. The Company still expects that internal sales and operating profit will increase at a mid single-digit rate for the full year. Co said, "Our first half performance provides further evidence of the strength of our business model and strategy... Despite significant inflation headwinds, we capitalized on our momentum to further increase our investment in future growth. We increased our earnings guidance and acquired two businesses in emerging markets within the first half of the year, and we continue to utilize our strong cash flow to return profits to our shareholders through dividends and share repurchases."

8:05AM Olympic Steel beats by $0.76, beats on revs, announces special $1 per share dividend (ZEUS) 59.28 : Reports Q2 (Jun) earnings of $2.70 per share, $0.76 better than the First Call consensus of $1.94; revenues rose 31.0% year/year to $363.5 mln vs the $334.7 mln consensus. Co also approves a special non-recurring dividend of $1.00 per share as well as an increase of $0.01 per share on its regular quarterly dividend to $0.05 per share. Co says it is pleased that it is gaining market share as the co is moving closer to its customers both in business alignment and physical presence. Given the uncertainty surrounding the general economic environment, co says its outlook remains favorable, yet cautious. Co believes it is appropriately positioned in terms of inventory, value-add processing capabilities, and liquidity to continue performing well through the seasonally slower Q3.

8:05AM Brinks beats by $0.27, beats on revs (BCO) 64.33 : Reports Q2 (Jun) earnings of $1.04 per share, $0.27 better than the First Call consensus of $0.77; revenues rose 19.6% year/year to $932 mln vs the $875.7 mln consensus. "Brink's Home Security once again achieved solid growth in revenue, operating profit, monthly recurring revenue and subscribers. Despite the weak housing market, we continue to expect BHS to deliver 10% or better annual growth in revenue and operating profit while growing the subscriber base in the high single-digit percentage range. We remain on track and expect to complete the spin-off of BHS in the fourth quarter of this year."

8:05AM Greenhill beats by $0.36, beats on revs (GHL) 63.99 : Reports Q2 (Jun) earnings of $1.04 per share, $0.36 better than the First Call consensus of $0.68; revenues fell 22.7% year/year to $108.7 mln vs the $74.5 mln consensus.

8:03AM Omnicare beats by $0.07, reports revs in-line; guides FY08 EPS above consensus (OCR) 26.12 : Reports Q2 (Jun) earnings of $0.46 per share, $0.07 better than the First Call consensus of $0.39; revenues rose 0.1% year/year to $1.55 bln vs the $1.54 bln consensus. Co issues upside guidance for FY08, sees EPS of $1.85-1.95 vs. $1.75 consensus. FY08 cash flow from operations will be in the range of $400 million to $450 million.

8:03AM Carpenter Tech misses by $0.02, beats on revs (CRS) 39.60 : Reports Q4 (Jun) earnings of $1.09 per share, excluding non-recurring items, $0.02 worse than the First Call consensus of $1.11; revenues rose 4.3% year/year to $556.3 mln vs the $516.5 mln consensus.

7:37AM FPL Group reports EPS in-line, misses on revs; reaffirms FY08 and FY09 EPS in-line (FPL) 64.17 : Reports Q2 (Jun) earnings of $0.93 per share, excluding non-recurring items, in-line with the First Call consensus of $0.93; revenues fell 8.8% year/year to $3.59 bln vs the $4.14 bln consensus. Co reaffirms guidance for FY08, sees EPS of $3.83-3.93 vs. $3.88 consensus. Co reaffirms guidance for FY09, sees EPS of $4.15-4.35 vs. $4.23 consensus. Co is reaffirming its 2008 and 2009 adjusted earnings per share expectations as well as its goal of at least 10 percent annual earnings growth through 2012 using our 2006 adjusted earnings per share as the base.

7:37AM Spirit Aerosystems beats by $0.03, slight miss on revs; guides FY08 in-line (SPR) 22.15 : Reports Q2 (Jun) earnings of $0.62 per share, $0.03 better than the First Call consensus of $0.59; revenues rose 10.7% year/year to $1.06 bln vs the $1.09 bln consensus. Co issues in-line guidance for FY08, sees EPS of $2.35-2.45 vs. $2.36 consensus; sees FY08 revs of $4.40 bln vs. $4.37 bln consensus. As for the outlook of the commercial aerospace market, co says it will continue to see strong long-term growth. While today's countervailing market forces create some uncertainty about the near-term, the co says its backlog continues to expand.

7:27AM Diana Shipping reports EPS in-line, beats on revs (DSX) 30.17 : Reports Q2 (Jun) earnings of $0.76 per share, in-line with the First Call consensus of $0.76; revenues rose 97.3% year/year to $86.8 mln vs the $83.3 mln consensus. "Diana Shipping delivered record revenues and earnings for the second quarter and first half of 2008. We are pleased that these robust financial results have enabled us to increase our cash dividend per share for the 10th consecutive quarter, producing an attractive dividend yield for our shareholders. The consistency and visibility of our financial performance is reflected in the fact that we have secured time charters that provide for $163.8 million to $167.8 million in revenues for the balance of 2008. Thus, we expect our capacity to reward our shareholders with similarly attractive dividends to continue through the remainder of the year. Furthermore, with our young fleet, strong balance sheet, well-established relationships with industry-leading customers, and a track record of revenue visibility, Diana Shipping is well-positioned to continue to benefit from the favorable long-term dynamics of the dry bulk industry."

7:16AM Parker-Hannifin beats by $0.05, beats on revs; guides FY09 EPS below consensus (PH) 68.04 : Reports Q4 (Jun) earnings of $1.55 per share, excluding non-recurring items, $0.05 better than the First Call consensus of $1.50; revenues rose 16.4% year/year to $3.35 bln vs the $3.23 bln consensus. Co issues downside guidance for FY09, sees EPS of $5.65-6.05 vs. $6.07 consensus.

7:13AM Green Mtn Coffee beats by $0.04, reports revs in-line; guides FY08 EPS above consensus; guides FY09 EPS above consensus (GMCR) 38.52 : Reports Q3 (Jun) earnings of $0.25 per share, $0.04 better than the First Call consensus of $0.21; revenues rose 43.3% year/year to $118.1 mln vs the $119.2 mln consensus. Co issues upside guidance for FY08, sees EPS of $0.79-0.81 vs. $0.77 consensus; co sees revs up 44-46%, which equates to approx $492-499 mln vs $497.82 mln consensus. Co issues upside guidance for FY09, sees EPS of $1.20-1.30 vs. $1.13 consensus.