Earnings - 7th May 2009 (2)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Earnings - 5th March 2009

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Earnings - 14th Aug 2008

4:46PM Allied Defense reports Q2 EPS of $0.11 vs ($3.58) in the prior year, revs grew 872% to $46.3 mln (ADG) 6.62 +0.20 : Co says "We are confident earnings per share in the third and fourth quarters will exceed those we have reported in this quarter."

4:18PM Building Materials misses by $1.08, misses on revs (BLG) 1.65 -0.07 : Reports Q2 (Jun) loss of $1.42 per share, $1.08 worse than the First Call consensus of ($0.34); revenues fell 41.3% year/year to $385 mln vs the $473.3 mln consensus. "...We have taken a number of actions aimed at preserving value and enhancing our liquidity going forward. These measures include the wind-down of certain operations, sale of underperforming business units and excess assets and other restructuring initiatives that will generate tax refunds based upon our existing net operating loss carry-back. We anticipate that these initiatives will reduce annualized SG&A expenses by $20 to $25 mln and result in one-time cash proceeds of approx $50 mln to the company over the next three to four quarters."

4:13PM Autodesk beats by $0.04; guides Q3 EPS in-line, revs above consensus; FY09 EPS in-line; guides FY10 below consensus (ADSK) 34.45 +0.07 : Reports Q2 (Jul) earnings of $0.56 per share, $0.04 better than the First Call consensus of $0.52; revenues rose 17.8% year/year to $619.5 mln vs the $606.4 mln consensus. Co issues mixed guidance for Q3, sees EPS of $0.54-0.56, excluding non-recurring items, vs. $0.55 consensus; sees Q3 revs of $625-635 mln vs. $621.99 mln consensus. Co issues in-line guidance for Q4 (Jan), sees EPS of $0.64-0.68, excluding non-recurring items, vs. $0.67 consensus; sees Q4 (Jan) revs of $660-680 mln vs. $673.10 mln consensus. Co issues in-line guidance for FY09, sees EPS of $2.24-2.30, excluding non-recurring items, vs. $2.24 consensus. Co issues downside guidance for FY10, sees EPS of $2.24-2.30 vs. $2.63 consensus; sees FY10 revs of $2.50-2.53 bln, excluding non-recurring items, vs. $2.81 bln consensus.

4:10PM Nordstrom beats by $0.01, misses on revs; guides Q3 EPS below consensus; guides FY09 EPS below consensus (JWN) 30.22 +0.53 : Reports Q2 (Jul) earnings of $0.65 per share, $0.01 better than the First Call consensus of $0.64; revenues fell 4.3% year/year to $2.29 bln vs the $2.31 bln consensus. Co issues downside guidance for Q3, sees EPS of $0.49-0.54 vs. $0.56 consensus. Co issues downside guidance for FY09, sees EPS of $2.55-2.65; previous $2.65-2.80 vs. $2.68 consensus. Also for 2008 (FY ending Jan 2009), co expects same-store sales to decrease 4-6%; gross profit to decrease 110-140 basis points; SG&A to increase 25-60 basis points; interest expense to increase $55-60 mln.

4:08PM Harman misses by $0.09, beats on revs (HAR) 43.00 -0.08 : Reports Q4 (Jun) earnings of $0.68 per share, ex-items, $0.09 worse than the First Call consensus of $0.77; revenues rose 17.1% year/year to $1.07 bln vs the $1.05 bln consensus. The Company initiates a detailed five-year strategic planning process which addresses cost base and global competitiveness, including manufacturing footprint, procurement, technology portfolio, emerging market growth, and talent management. Plan highlights include defined reductions in the number of manufacturing, engineering and operating locations, global footprint optimization, and improved processes for forecasting, quality and risk management. As part of our implementation, the company launched on July 1, 2008 a cost and productivity improvement program called "STEP Change." This 24-month program, which is inclusive of previously announced initiatives, is expected to yield $400 mln in sustainable annual savings beyond fiscal year 2010.

4:04PM Rick's Cabaret reports Q3 (Jun) results, misses on revs; lowers FY08 guidance; lowers FY09 EPS guidance, but still above consensus (RICK) : Reports Q3 (Jun) earnings of $0.21 per share, may not be comparable to the First Call consensus of $0.28; revenues rose 92.7% year/year to $16.3 mln vs the $16.6 mln consensus. Co lowers guidance for FY08, sees EPS of $1.02, down from $1.25-$1.30, may not be comparable to $1.20 consensus; sees FY08 revs of "about" $60 mln, down from $61-$62 mln, vs. $61.95 mln consensus. Co issues guidance for FY09, lowers EPS guidance to $2.00-2.20, down from $2.30-$2.50 ($1.91 consensus); reiterates FY09 revs exceeding $100 mln ($84.64 mln consensus).

4:03PM Kohl's beats by $0.04, reports revs in-line; guides Q3 EPS below consensus; raises FY09 EPS in-line (KSS) 48.32 +0.74 : Reports Q2 (Jul) earnings of $0.77 per share, $0.04 better than the First Call consensus of $0.73; revenues rose 3.8% year/year to $3.73 bln vs the $3.75 bln consensus. Co issues downside guidance for Q3, sees EPS of $0.51-0.56 vs. $0.57 consensus. Co raises guidance in-line for FY09, sees EPS of $3.02-3.18 vs. $3.07 consensus, up from $2.95-3.15. Co says, "Our second quarter results reflect strong inventory management and increased penetration of private and exclusive brands, resulting in improved gross margins, as well as effective expense control. We remain conservative in our sales expectations for the fall season and will manage our business accordingly. We are well positioned to chase business should the environment improve."

4:02PM DeVRY misses by $0.04, beats on revs (DV) 55.30 : Reports Q4 (Jun) earnings of $0.34 per share, $0.04 worse than the First Call consensus of $0.38; revenues rose 18.9% year/year to $276.8 mln vs the $272.1 mln consensus. Co said, "Consistent with our five-year strategic plan, DeVry's long term financial objective is to deliver double-digit revenue growth and roughly 20 percent compound annual earnings per share growth... While there may be fluctuations on a short-term basis along the way, we are taking a long-term view of managing the business to drive growth, quality and increased margins."

9:04AM Cameco misses by $0.01 (CCJ) 30.99 : Reports Q2 (Jun) earnings of $0.39 per share, $0.01 worse than the First Call consensus of $0.40, revs declined 14% YoY to $620 mln. Lower earnings was due to lower earnings in the uranium, fuel services and electricity businesses. In our uranium business earnings were adversely affected by lower sales volumes, which more than offset higher realized selling prices. In addition, lower sales volumes in our fuel services business and reduced output at Bruce Power had a dampening effect. In the second quarter of 2007, uranium deliveries were unusually high, representing 35% of that year's total.


8:32AM Copa Holdings beats by $0.11, reports revs in-line (CPA) 36.86 : Reports Q2 (Jun) earnings of $0.70 per share, $0.11 better than the First Call consensus of $0.59; revenues rose 26.6% year/year to $297.9 mln vs the $298.5 mln consensus.


8:04AM General Steel reports EPS in-line, beats on revs (GSI) 12.79 : Reports Q2 (Jun) earnings of $0.13 per share, excluding non-recurring items, in-line with the First Call consensus of $0.13; revenues rose 219.0% year/year to $387 mln vs the $353.7 mln consensus. "We are pleased to be building at our Longmen Joint Venture two new 1280 cubic meter blast furnaces. Upon completion we anticipate this will double our pig-iron capacity and allow us to increase crude steel production capacity from 2.5 to 4.0 million tons annually."


7:04AM J.M. Smucker beats by $0.05, beats on revs; guides FY09 EPS above consensus (SJM) 50.50 : Reports Q1 (Jul) earnings of $0.82 per share, excluding restructuring and merger and integration costs, $0.05 better than the First Call consensus of $0.77; revenues rose 18.2% year/year to $663.7 mln vs the $647.2 mln consensus. Co issues upside guidance for FY09, sees EPS of $3.45-3.50 vs. $3.44 consensus; sees FY09 revs of $3.8-4.0 bln vs. $3.86 bln consensus. The outlook includes the impact of its previously announced agreement with The Procter & Gamble Co (PG) to merge P&G's Folgers coffee business with and into the Company.

6:22AM Wal-Mart beats by $0.02, reports revs in-line; guides Q3 EPS in-line; guides FY09 EPS in-line (WMT) 57.88 : Reports Q2 (Jul) earnings of $0.86 per share, excludes discontinued operations, $0.02 better than the First Call consensus of $0.84; revenues rose 10.4% year/year to $102.67 bln vs the $101.93 bln consensus. Co issues in-line guidance for Q3, sees EPS of $0.73-0.76 vs. $0.76 consensus. Co issues in-line guidance for FY09, sees EPS of $3.43-3.50 vs. $3.49 consensus.

6:04AM Urban Outfitters beats by $0.03, reports revs in-line (URBN) 34.05 : Reports Q2 (Jul) earnings of $0.33 per share, $0.03 better than the First Call consensus of $0.30; revenues rose 30.4% year/year to $454.3 mln vs the $450.5 mln consensus. Co reports comparable store net sales increased 13%.

1:47AM Global Sources beats by $0.01, beats on revs; guides Q3 EPS below consensus, revs below consensus (GSOL) 15.15 : Reports Q2 (Jun) earnings of $0.21 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.20; revenues rose 21.3% year/year to $63.7 mln vs the $62.5 mln consensus. Co issues downside guidance for Q3, sees EPS of $0.04-0.05 vs. $0.16 consensus; sees Q3 revs of $38.5-39.0 mln vs. $40.75 mln consensus. 2H08 revenue is expected to be $108.0-109.5 mln; 2H08 EPS is expected to be in the range of $0.27-0.29.

12:06AM Intrepid Potash beats by $0.04, beats on revs (IPI) 46.73 : Reports Q2 (Jun) earnings of $0.42 per share, excludes insurance settlement in excess of property loss and unrealized derivative gain, $0.04 better than the First Call consensus of $0.38; revenues rose 24.6% year/year to $105.2 mln vs the $96.3 mln consensus. Production Forecast: Potash - 870,000 - 890,000 short tons, Langbeinite - 210,000 - 230,000 short tons. Production Cost of Goods Sold: Potash - $140 - $150 per short ton, Langbeinite - $75 - $85 per short ton.