Earnings - 29th Jan 2009

6:32PM Lindsay Corp sees Q2 revs below consensus; co expects total Q2 revs to be ~30% to 40% lower YoY (LNN) 31.83 -1.15 : Co issues downside guidance; co announced that it expects total revs in Q2 of FY09 to be ~30-40% YoY, which equates to ~$65.31-75.9 mln vs $94.0 mln First Call consensus. Co says the primary factor for the expected decline in revenue is the significantly lower global, incoming order rate for irrigation equipment. While infrastructure revenues are also expected to be lower in the quarter than the same prior-year period, the Company believes this is due primarily to the timing of project-oriented business. The Company will continue to take appropriate actions in response to economic conditions, including reductions in workforce and discretionary spending and other cost-saving measures. As of mid-January, the Company had reduced its global headcount by 25% since the start of fiscal 2009.

5:23PM Quality Systems beats by $0.01, beats on revs (QSII) 39.15 +0.01 : Reports Q3 (Dec) earnings of $0.46 per share, $0.01 better than the First Call consensus of $0.45; revenues rose 36.2% year/year to $65.5 mln vs the $62.9 mln consensus. For the quarter, the co's NextGen Healthcare Information Systems division posted record revenue of $61.5 mln, up 40% when compared with the same quarter in the prior year and record operating income of $22.8 mln, up 28% over third quarter last year.

4:35PM Informatica beats by $0.01, misses on revs (INFA) 13.01 -0.20 : Reports Q4 (Dec) earnings of $0.24 per share, $0.01 better than the First Call consensus of $0.23; revenues rose 9.2% year/year to $124.4 mln vs the $127.4 mln consensus.

4:16PM Amazon.com beats by $0.13, beats on revs; guides Q1 revs in-line (AMZN)50.00 -0.36 : Reports Q4 (Dec) earnings of $0.52 per share, $0.13 better than the First Call consensus of $0.39; revenues rose 18.2% year/year to $6.7 bln vs the $6.44 bln consensus. Co issues in-line guidance for Q1, sees Q1 revs of $4.525-4.925 bln vs. $4.57 bln consensus. Operating income for Q1 is expected to be between $125 million and $210 million, or between 37% decline and 6% growth compared with first quarter 2008. "We remain relentlessly focused on serving customers with low prices, great selection and free shipping offers, including Amazon Prime ... We're particularly grateful for the unusually strong demand for Kindle in the fourth quarter."

4:13PM Sunpower beats by $0.13, beats on revs; guides FY09 EPS in-line, revs in-line (SPWRA) : Reports Q4 (Dec) earnings of $0.70 per share, $0.13 better than the First Call consensus of $0.57; revenues rose 78.7% year/year to $401 mln vs the $396.8 mln consensus. Co issues in-line guidance for FY09, sees EPS of $2.20-2.80, ex items vs. $2.66 consensus; sees FY09 revs of $1.6-2.0 bln vs. $1.89 bln consensus. "Long-term solar market fundamentals remain in place and we are encouraged by the commitment to renewable energy by President Obama and Congressional leadership," continued Werner. "Given these factors, we are well positioned to take advantage of growing global demand for solar this year and in the future, despite uncertainty in today's economic and credit environment."

8:50AM Helmerich & Payne beats by $0.26, beats on revs (HP) 24.83 : Reports Q1 (Dec) earnings of $1.35 per share, excluding $0.01 in non-recurring items, $0.26 better than the First Call consensus of $1.09; revenues rose 36.6% year/year to $623.8 mln vs the $573.2 mln consensus. The significant increase as compared to the prior quarter was mostly driven by higher average revenue and margins per rig day during this year's first quarter. Average revenue per day rose by $2,032 over the previous quarter to $27,066, and average rig margin per day rose by $1,657 over the previous quarter to $14,820. Co says, "Exploration and production companies are currently being very aggressive about reducing their drilling plans in the near term, responding to the double blow of depressed energy prices and dysfunctional credit markets. Given the speed and severity of the current pullback, it is difficult to predict when supply and demand will return to a better balance. Until then, customers seem to be waiting to see where commodity prices stabilize before making final determinations concerning this year's spending plans."

8:07AM Illinois Tool beats by $0.06, reports revs in-line; guides Q1 EPS below consensus; guides FY09 EPS in-line (ITW) : Reports Q4 (Dec) earnings of $0.54 per share, $0.06 better than the First Call consensus of $0.48; revenues fell 5.9% year/year to $3.68 bln vs the $3.67 bln consensus. Co issues downside guidance for Q1, sees EPS of $0.26-$0.42 vs. $0.47 consensus. The 1Q09 forecast assumes a total company revenue range of -17% to -11%. Co issues in-line guidance for FY09, sees EPS of $1.84-$2.48 vs. $2.35 consensus. Co states, The full-year forecast assumes a total company revenue range of -12% to -6%. Briefing Note: This would equate to a range of approx $13.97-$14.92 bln vs $14.72 bln.

8:04AM Kennametal misses by $0.01, misses on revs; guides Q3 EPS below consensus; guides FY09 EPS below consensus (KMT) 18.69 : Reports Q2 (Dec) earnings of $0.35 per share, $0.01 worse than the First Call consensus of $0.36; revenues fell 12.1% year/year to $569 mln vs the $579.7 mln consensus. Co issues downside guidance for Q3, sees EPS of $0.05-0.15 vs. $0.40 consensus. Co issues downside guidance for FY09, sees EPS of $1.30-1.50 vs. $1.89 consensus. Organic sales for fiscal 2009 are expected to be 14-15% lower than for the previous fiscal year.

7:42AM Cash America misses by $0.03, beats on revs; reaffirms FY09 EPS guidance (CSH) 19.75 : Reports Q4 (Dec) earnings of $0.74 per share, excluding restructuring and severance charges, $0.03 worse than the First Call consensus of $0.77; revenues rose 7.1% year/year to $279.7 mln vs the $274.3 mln consensus. Co reaffirms guidance as announced on Jan 22 for FY09, sees EPS of 3.10-3.30 vs. $3.08 consensus. Mgmt enters the first quarter of fiscal 2009 without the earnings attributable to certain markets for its cash advance product that added significant incremental profitability in fiscal 2008. Mgmt has estimated that the net effect of lost earnings due to changes in and the elimination of cash advance markets during 2008 equates to $20 to $25 mln after taxes on an annualized basis (between 66 and 83 cents per share). Mgmt believes that growth in its existing and new markets for its cash advance product will combine with growth from its pawn lending business and will overcome this decrease in contribution but not until the second half of 2009. While mgmt believes that the demand for its credit products will remain intact in 2009, it feels there is a likelihood it will experience higher loan losses associated with the difficult consumer economic environment and it expects pressure on retail margins to support sales activities during the year. Co says, "We experienced an increase in loss rates early in the quarter within our online cash advance portfolio reversing a trend of lower loss rates through September. While we were disappointed by this change, we believe that we have addressed it appropriately and we are still within an acceptable range for this line of business."

7:36AM Alliant Tech beats by $0.04, misses on revs; guides FY09 EPS below consensus, revs below consensus; guides FY10 EPS below consensus, revs in-line (ATK) : Reports Q3 (Dec) earnings of $1.96 per share, $0.04 better than the First Call consensus of $1.92; revenues rose 5.2% year/year to $1.11 bln vs the $1.14 bln consensus. Co issues downside guidance for FY09, sees EPS of $7.40-7.50 vs. $7.56 consensus; sees FY09 revs of $4.5 bln (previously expected $4.55) vs. $4.55 bln consensus. ATK continues to expect full-year FY09 operating margins to be approximately 10.5 percent, with free cash flow of approximately $260 million. Co issues mixed guidance for FY10, sees EPS of $7.75-7.95 vs. $8.36 consensus; sees FY10 revs of $4.55-4.65 bln vs. $4.87 bln consensus.  ATK expects to generate free cash flow in the range of $130 million to $150 million, which includes the impact of making the $150 million prepayment contribution to the company's pension plans, and approximately $120 million of capital expenditures

7:34AM Celgene beats by $0.01, reports revs in-line; guides FY09 EPS below consensus, revs below consensus; co reports drug numbers (CELG) 52.20 : Reports Q4 (Dec) earnings of $0.43 per share, $0.01 better than the First Call consensus of $0.42; revenues rose 52.3% year/year to $623 mln vs the $621.7 mln consensus. Co issuesdownside guidance for FY09, sees EPS of $2.05-2.15 vs. $2.18 consensus; sees FY09 revs of $2.6-2.7 bln vs. $2.85 bln consensus. Q4 Drug sales: Revlimid $369 mln vs. $371.2 mln First Call Consensus; Thalomid $126.8 mln vs. $132.9 mln First Call Consensus; Vidaza $69.7 mln vs. $70.6 mln First Call Consensus; Alkeran $24.4 mln vs. $19.8 mln First Call Consensus.

7:34AM CONSOL Energy beats by $0.34, reports revs in-line (CNX) 28.94 : Reports Q4 (Dec) earnings of $0.97 per share, $0.34 better than the First Call consensus of $0.63; revenues rose 35.3% year/year to $1.24 bln vs the $1.24 bln consensus. Because of uncertainties surrounding the U.S. and global economies, CONSOL Energy plans to adopt a cautious approach to capital expenditures and cash management, and therefore is altering its usual practice of issuing annual capital expenditure and production projections. Co expects to limit capital spending in the early part of the year in order to retain the ability to adjust spending to prevailing economic conditions. Furthermore, co expects to continue expenditures on projects, such as overland belt projects or longwall face extensions. However, the CNX doesn't expect to commit the entire authorized capital budget for coal until it has a clearer understanding of the state of the economy and demand for coal.

7:18AM Dominion beats by $0.03, beats on revs; guides Q1 EPS below consensus; guides FY09 EPS in-line, FY10 above consensus (D) 35.69 : Reports Q4 (Dec) earnings of $0.72 per share, $0.03 better than the First Call consensus of $0.69; revenues rose 14.4% year/year to $4.17 bln vs the $3.51 bln consensus. Co issues downside guidance for Q1, sees EPS of $0.85-0.90 vs. $0.99 consensus. Co issues in-line guidance for FY09, sees EPS of $3.20-3.30 vs. $3.26 consensus. Sees 2010 EPS of $3.33-3.50 vs $3.31 consensus . Assuming a return to normal economic conditions, we expect to again grow operating earnings per share 6 percent or more annually beginning in 2011. The increase in fourth-quarter 2008 operating earnings is primarily attributable to lower outage costs at the company's generating units; a lower effective tax rate; lower operating and maintenance expenses at the regulated electric utility; and higher contributions from the company's merchant generation business. These positives were partially offset by the exclusion of Peoples Natural Gas and Hope Gas, Inc. from operating earnings beginning in 2008.

7:18AM L-3 Comms beats by $0.10, beats on revs; guides FY09 EPS below consensus, revs in-line (LLL) 79.83 : Reports Q4 (Dec) earnings of $2.04 per share, excluding non-recurring items, $0.10 better than the First Call consensus of $1.94; revenues rose 5.4% year/year to $4.01 bln vs the $3.87 bln consensus. Co issues mixed guidance for FY09, sees EPS of $7.12-7.32 vs. $7.41 consensus (previous range $7.30-7.50); sees FY09 revs of $15.5-15.7 bln vs. $15.65 bln consensus (previous range $15.4-15.7 bln). Co estimates FY09 operating margin at 10.4% vs previous estimate of 10.7%. Co records funded Q408 orders of $4.3 bn vs $3.8 bln in Q407. Funded backlog increased 21% to $11.6 bln at Dec. 31, 2008 from $9.6 bln at Dec. 31, 2007.

7:12AM Textron beats by $0.05, misses on revs; guides FY09 EPS below consensus, revs below consensus (TXT) 13.30 : Reports Q4 (Dec) earnings of $0.40 per share, excluding a number of special charges, $0.05 better than the First Call consensus of $0.35; revenues rose 0.4% year/year to $3.61 bln vs the $3.68 bln consensus. Co issues downside guidance for FY09, sees EPS of $1.00-1.50, excluding restructuring charges of ~$40 mln, vs. $2.39 consensus; sees FY09 revs of $12.50 bln vs. $13.63 bln consensus. Co says, "Economic conditions continued to weaken during the fourth quarter, significantly impacting our Industrial and TFC businesses; however, for the year, we had strong performance at Bell, Cessna and Textron Systems... Economic conditions continued to weaken during the fourth quarter, significantly impacting our Industrial and TFC businesses. However, for the year, we had strong performance at Bell, Cessna and Textron Systems. Combined backlog at Cessna, Bell and Textron Systems was $23.2 billion at the end of the fourth quarter, up $4.4 billion from the end of last year."

7:08AM Raytheon beats by $0.02, reports revs in-line; guides FY09 EPS in-line, revs in-line (RTN) 49.67 : Reports Q4 (Dec) earnings of $1.13 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $1.11; revenues rose 2.6% year/year to $6.16 bln vs the $6.21 bln consensus. Co issues in-line guidance for FY09, sees EPS of $4.45-4.60, excluding non-recurring items, vs. $4.57 consensus; sees FY09 revs of $24.3-24.8 bln vs. $24.68 bln consensus (unchanged from 10/08 guidance). Co ended FY08 with a backlog of $38.9 bln, up 6% compared to $36.6 bln at end of 2007.

7:06AM Zimmer Hldgs reports EPS in-line, misses on revs; guides FY09 EPS below consensus (ZMH) 43.05 : Reports Q4 (Dec) earnings of $1.00 per share, in-line with the First Call consensus of $1.00; revenues fell 4.0% year/year to $1.03 bln vs the $1.09 bln consensus. Co issues downside guidance for FY09, sees EPS of $3.85-4.00 vs. $4.23 consensus. The Company expects full-year revenues for 2009 to increase between 1% and 3% on a constant currency basis, with revenues anticipated to be flat in the first half of the year and improving thereafter. Assuming foreign currency exchange rates remain near year-end 2008 levels, the Company estimates that foreign currency translation will reduce revenue by approximately 4% for the full year 2009. Adjusted diluted earnings per share are expected to show negative growth in the first three quarters with positive growth in the fourth quarter.

6:48AM AutoNation beats by $0.01, misses on revs (AN) 9.24 : Reports Q4 (Dec) earnings of $0.12 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.11; revenues fell 33.9% year/year to $2.74 bln vs the $3.06 bln consensus. Co said, "We agree with industry projections that the 2009 SAAR will be in the range of 11 million new vehicle units with obvious weakness in the first half of the year. In this environment, we believe we will be able to manage within all financial covenants." The Company also announced that it has obtained consents under its framework agreements with manufacturers in order to eliminate any potentially adverse consequences under such agreements in the event that ESL Investments, Inc., the Company's largest stockholder, were to acquire over 50% of the Company's common stock. ESL currently owns approximately 45% of the Company's outstanding common stock.

Earnings - 12th Jan 2009

4:52PM CSX Corp prelim Q4 EPS of $0.90, ex-items, vs $0.98 First Call consensus; revs of ~$2.7 bln vs $2.77 bln First Call consensus (CSX) 32.22 : The co announces preliminary fourth quarter earnings per share of 63 cents. These results include a noncash impairment charge of approximately 27 cents per share related to the write-down of its investment in The Greenbrier resort in White Sulphur Springs, West Virginia. Excluding this charge and insurance gains of 1 cent in the prior year quarter, comparable earnings per share would be approximately 90 cents, which represents a 6% increase over the prior year quarter. Overall revenues are expected to be approximately $2.7 billion for the quarter, up 4% from the prior year period. This was driven by higher yields and fuel recovery, which are expected to offset the impact of significantly lower volumes. Operating income, on a comparable basis, is estimated to increase 16% to $692 million, resulting in an operating ratio of approximately 74.1%. Given the current economic challenges, particularly the uncertainty facing U.S. manufacturing, the company is no longer affirming or providing long-term guidance.

4:36PM Rogers Corp lowers Q4 EPS and revs guidance (ROG) 22.71 -0.50 : Co lowers guidance for Q4 (Dec), sees EPS of $0.43-0.49, excluding $0.38 charge, down from $0.50-0.56, vs. $0.39 First Call consensus; sees Q4 (Dec) revs of $78-79 mln, down from $88-92 mln, vs. $85.00 mln consensus. "Based on what has been happening recently in the global economy, we expected at some point that our sales might contract. Although we were unable to predict the exact timing of this, we had begun to prepare ourselves for this possibility. Our inventories are low and at a manageable level, accounts receivable days outstanding are very good and we have ~$60 mln in cash and no debt. Also, co has implemented plans to manage production to match incoming orders. Going forward, Rogers will continue to focus efforts on new product development and new product introductions."

4:14PM Alcoa misses by $0.18, beats on revs, says its liquidity remains solid (AA)10.06 -0.75 : Reports Q4 (Dec) loss of $0.28 per share, excluding non-recurring items, $0.18 worse than the First Call consensus of ($0.10); revenues fell 19.1% year/year to $5.69 bln vs the $5.26 bln consensus. Co says it is taking wide-ranging measures to address the economic downturn, including streamlining its portfolio to focus on businesses where Alcoa is the recognized leader, curtailing production to adjust to weakened demand, reducing headcount, and achieving significant savings in key raw materials. Co suffered from a historic 56% price decline in aluminum over the last five months and saw a sharp drop in orders. Co says its liquidity remains solid. (currently halted, no resumption time)

11:32AM Celgene confirms 2009 outlook (CELG) 49.49 -0.78 : Co confirms downside guidance for FY09 (Dec), sees EPS of $2.05-2.15 vs. $2.27 First Call consensus; sees FY09 (Dec) revs of $2.6-2.7 bln vs. $2.93 bln consensus. The co also gave 2009 corporate objectives: To maximize the clinical, regulatory and commercial potential of REVLIMID, VIDAZA, Global THALOMID/Thalidomide and Pomalidomide into nearly 75 countries. Execute launch of VIDAZA in higher-risk MDS and AML in European Union. Submit REVLIMID regulatory filing for multiple myeloma and Del 5Q MDS in Japan. Gain REVLIMID reimbursement approvals in UK, Canada, Australia and other countries. Secure REVLIMID approvals in Russia, Turkey, Middle East and Latin America and submit data to FDA to evaluate REVLIMID as treatment for NDMM... The co confirmed FY08 total revenue for 2008 of approximately $2.233 bln and REVLIMID net product sales in 2008 to more than 71%. The co confirmed VIDAZA net product sales in the fourth quarter 2008 were approximately $70 mln and non-GAAP diluted EPS to $1.55 to $1.56.

9:19AM Kendle sees EPS of $2.12-2.20 vs. $2.20 First Call consensus, sees FY08 (Dec) revs of $475-480 vs. $488.02 mln consensus (KNDL) 20.78 : Co issues lowersguidance for FY08 (Dec), sees EPS of $2.12-2.20 vs. $2.20 First Call consensus down from previous guidance of $2.10-2.25; sees FY08 (Dec) revs of $475-480 vs. $488.02 mln consensus, down from previous guidance of $485-500 mln.

9:12AM A-Power Energy announces that GE Drivetrain Technologies signs LOIs to supply 900 wind turbine gearboxes and establish joint venture to build wind turbine assembly facility (APWR) 4.90 : GE Drivetrain Technologies, a unit of GE Transportation (GE), and A-Power Energy Generation Systems (Nasdaq: APWR) announce that they have signed two Letters of Intent , one for GE Drivetrain Technologies to supply APWR with 2.7 megawatt wind turbine gearboxes and a second to establish a Joint Venture partnership for a wind turbine gearbox assembly plant. The companies' joint venture agreement creates a wind turbine gearbox assembly business that will be majority owned by GE Drivetrain Technologies and operate under the name GE Transportation. The new assembly plant will bring multi-megawatt gearbox capacity to China and serve as GE Drivetrain Technologies' Southeast Asia manufacturing center from which it will serve its customers in the region beginning in mid-2010. The Joint Venture company will take advantage of APWR's knowledge of the local market, as well as of GE Drivetrain Technologies' process and quality expertise.

8:47AM Kennametal announces further Q4 cost reduction actions; lowers Q4 guidance to $0.34 vs $0.48 consensus (KMT) 20.39 : Co issues downside guidance for Q2 (Dec), sees EPS of $0.34, excluding excluding charges of approximately $0.14 per share relating to restructuring, vs. $0.48 First Call consensus. The additional actions announced today involve reducing the company's global salaried workforce by approximately 800 positions which is expected to generate annual pre-tax savings of approximately $70 mln. These employment reductions will be completed within the next three to six months. The company anticipates recording pre-tax cash charges related to these initiatives of approximately $40 mln. The co has also identified additional opportunities related to its restructuring program previously announced in April 2008. The ongoing annual pre-tax savings from these restructuring actions, which include a reduction in workforce of approximately 400 positions, are now expected to be approximately $30 mln once fully implemented over the next six to nine months. The co now expects to recognize approximately $50 mln of pre-tax charges related to this restructuring, including approximately $27 mln recorded through the December 2008 quarter. Approximately 90 percent of these charges are expected to be cash expenditures. In total, together with the previously announced restructuring is expected to produce ongoing annual pre-tax savings of approximately $100 mln including the total reduction in workforce of approximately 1,200 positions. The total pre-tax charges expected to be recognized are estimated to be approximately $90 mln, including approximately $27 mln recorded through the December 2008 quarter.

8:31AM Aetna sees FY08 $3.90-3.95 vs $3.93 First Call consensus; co expects FY09 EPS growth to be 12-14%, ex-items (AET) 29.20 : The co announces Chairman and CEO Ronald Williams will make a presentation today during which he intends to reaffirm the company's full-year 2008 operating earnings per share guidance of $3.90 to $3.95. Aetna also will update its preliminary guidance on certain 2009 performance metrics, including full-year 2009 operating earnings per share. Aetna currently projects full-year 2009 operating earnings per share growth to be 12-14% excluding the projected year-over-year increase in pension expense, consistent with Aetna's prior guidance. Including the projected year-over-year increase in pension expense of $.54 per share, Aetna projects full-year 2009 operating earnings per share to be slightly lower than 2008. Aetna's projected 2008 operating earnings per share include approximately $.15 per share of pension benefit. As a result of the significant decline in equity markets experienced during 2008, Aetna's projected 2009 operating earnings per share include a pension expense of approximately $.39 per share, or a projected year-over-year increase of $.54 per share. Aetna's previous guidance provided on October 29, 2008, included a year-over-year increase in pension expense range of $.30 to $.40 per share; but since that time, the equity markets and interest rates have declined, resulting in an additional increase in Aetna's net pension obligations as of the December 31, 2008 measurement date.

8:06AM Abbott Labs sees FY08 EPS of $3.31-3.33 vs $3.32 First Call consensus; sees FY09 EPS of $3.65-3.70 vs $3.66 First Call consensus (ABT) 51.17 : The co announces its full-year earnings-per-share guidance for 2009 and confirming its previously issued 2008 earnings-per-share guidance of $3.31 to $3.33, excluding specified items. For 2009, the company expects earnings per share of $3.65 to $3.70 under Generally Accepted Accounting Principles and on a non-GAAP basis. The midpoint of this 2009 guidance reflects double-digit growth over the midpoint of 2008 earnings-per-share guidance. Abbott's 2009 outlook includes the acquisition of Advanced Medical Optics as announced today. Abbott expects the AMO transaction to be neutral to ongoing earnings per share in 2009 and accretive in 2010, both before one-time transaction-related costs, which will be provided at a later date.

7:35AM Digital Ally revenues for the year ended December 2008 increased over 65% to approximately $32.5 mln; raises 2009 rev guidance to $50 mln from $41.9 mln (DGLY) 2.92 : Co's revenues for the year ended December 31, 2008 increased over 65% to approximately $32.5 mln, compared with revenues of $19.4 mln in 2007. The Co expects to report record earnings in 2008, exclusive of non-recurring income tax benefits recorded in 2007, Co issues upside guidance for FY09 (Dec), sees FY09 (Dec) revs of $50 mln vs. $41.90 mln First Call consensus. "During our internal budgeting process, we carefully analyzed the current global economic environment, including the possible budget cuts confronting many federal, state and local government agencies... Based upon information currently available, we believe the continued success of our DVM-500 In-Car Digital Video System Integrated into a Rear View Mirror, combined with the anticipated impact of new products on our sales volumes, should allow Digital Ally to increase its 2009 revenues to at least $50.0 mln, when compared with record 2008 revenues of approximately $32.5 mln. To illustrate our confidence in this projection, all officers and directors at Digital Ally have agreed to defer 25% of their 2009 monetary compensation until year-to-date sales reach the $50 mln threshold."

7:31AM LaserCard announces $5.4 mln follow-on order for Saudi Arabia National ID card program (LCRD) 4.10 : Co announced a follow-on purchase order valued at $5.4 million to supply secure credentials for the Kingdom of Saudi Arabia's National Identity Card program.

7:13AM Hologic: Further color on guidance (HOLX) 10.90 : The co also reports although first quarter revenues are expected to fall three percent below initial expectations, they expect non-GAAP adjusted EPS for the first quarter of fiscal 2009 to meet or exceed initial expectations and be in a range of $0.30 to $0.31 (consensus is $0.29), as a result of a number of cost reduction initiatives the company implemented in the first quarter. This compares to prior Company guidance for non-GAAP adjusted EPS issued on November 11,2008 of $0.29 to $0.30. Non-GAAP adjusted EPS excludes approx $50 mln of amortization of intangibles which on an after-tax basis (at an effective tax rate of 34%) would reduce GAAP EPS by $0.13. The estimated GAAP EPS would then be in a range of $0.17 to $0.18.

7:02AM Hologic will report it expects Q1 2009 revs to be 3% below previously issued guidance (HOLX) 10.90 : Co lowers guidance for Q1 (Dec), sees Q1 (Dec) revs of $428-429 mln, down from $441-443 mln, vs. $437.04 mln First Call consensus.The three percent decline in anticipated revenues from its initial guidance is principally due to reductions in revenues in Hologic's Breast Health segment. The Company attributes this decline primarily to cost pressures faced by hospitals, due to the worldwide economic instability which has resulted in longer sales processes and delays of capital equipment purchases.

7:01AM Cubist Pharma reports FY08 total revs above consensus (CBST) 24.56 : Co reports FY08 prelim revs of $433.6 vs $434.50 mln First Call consensus. Co reports U.S. net product revenues of $120.1 mln for the fourth quarter of 2008 for its antibiotic product CUBICIN (daptomycin for injection). This result represents an increase of 43%, or $36.2 mln, from fourth quarter 2007 U.S. CUBICIN net product revenues. Full year 2008 U.S. CUBICIN net product revenues were $414.7 mln. This result represents an increase of 45%, or $129.6 mln, from full year 2007 U.S. CUBICIN net product revenues. Cubist's share of full year 2008 international net product revenues was $7.4 mln. This represents an increase of $2.1 mln from full year 2007. Included in the full year 2008 total net revenues is $9.4 mln of service revenue relating to Cubist's exclusive agreement with AstraZeneca to sell and provide other support in the United States for MERREM I.V. (meropenem for injection).

6:53AM Alnylam Pharma reaffirms their previously raised guidance of ending 2008 with a cash position of greater than $500 mln; expects net operating loss of $35-45 mln for FY09 (ALNY) 23.12 : ALNY reaffirms previously raised guidance of ending 2008 with a cash position of greater than $500 mln, excluding the upfront payment received as part of our Cubist RSV partnership announced last week. Co says, "In 2009, we expect a total non-GAAP cash net operating loss of approximately $35 to $45 mln and also expect to incur approximately $20 to $30 mln of other cash payments, including further investment in Regulus, cash tax payments, capital expenditures, and other potential strategic investments. We expect to finish 2009 with greater than $435 mln in cash." Co plans to continue to Progress ALN-RSV01 in Phase II Studies; advance ALN-VSP for the Treatment of Liver Cancers; expand Clinical Development Pipeline.

Earnings - 25th Aug. 2008

5:03PM Winn-Dixie Stores misses by $0.01 (WINN) 14.29 -0.71 : WINN reports Q4 in its 10-K; co reports Q4 (Jun) (0.10), $0.01 worse than the First Call consensus of ($0.09); revenues rose 0.8% year/year to $1.69 bln vs the $1.69 bln consensus.

4:56PM Kennametal announces acquisition of Tricon Metals & Services, will be accretive to earnings withini 12 months; expands advanced materials business (KMT) 34.80 -0.97 : Co announced that it has signed a definitive agreement to acquire the assets of Tricon Metals & Services, Inc. Closing is planned for October 2008 and remains subject to negotiated conditions of closing. Tricon will become part of Kennametal's Advanced Materials Solutions Group (AMSG), and the acquisition is expected to be accretive to earnings within twelve months following closing.

8:02AM A-Power Energy reports EPS in-line, beats on revs; reaffirms (APWR) 20.65 : Reports Q2 (Jun) earnings of $0.20 per share, in-line with the First Call consensus of $0.20; revenues rose 21.5% year/year to $65.7 mln vs the $62.1 mln consensus. Co said, "As expected, our financial results continued to accelerate during the second quarter and based on the projected timelines associated with our ongoing distributed power generation projects and wind turbine production, we are on-track to make our 2008 earnings guidance of $35 to $45 million."

7:10AM AgFeed Industries to acquire 4 producing commercial hog farms, raises total hog farm acquisition targets, affirms FY08 guidance (FEED) 10.59 : Co announces that it has reached agreements to acquire 4 producing commercial hog farms in South China. FEED expects these acquisitions to close in early September. All of the company's acquired hog farms are immediately accretive to earnings. FEED is also in discussions with multiple other farms as potential acquisition targets. FEED has sufficient cash on hand, a strong balance sheet as well as strong cash flows from operations to fund its current acquisition plans in 2008. In addition to these four farms, FEED intends to acquire no less than 5 to 10 additional producing hog farms before the end of 2008, to be funded from current cash flows. All of its hog farm acquisitions are immediately accretive to earnings. Co also reaffirms FY08 EPS guidance of $1.08-$1.20 vs $1.00 First Call consenus.

3:33AM LDK Solar provides preliminary outlook for FY09; sees revenue of $2.8-3.0 bln vs $2.43 bln consensus (LDK) 45.82 : Co issues upside guidance for FY09 (Dec), sees FY09 (Dec) revs of $2.8-3.0 bln vs. $2.43 bln First Call consensus. Co also anticipates wafer shipments between 1.45 and 1.55 GW. "We are pleased to achieve one of the fastest capacity ramps within the solar industry as we expand our production capabilities to meet the continued strong demand from our growing global customer base... We are proud to reach this significant milestone and remain confident in our ability to expand to 1.2 GW wafer capacity by the end of 2008. This achievement demonstrates our continued commitment to becoming the largest and lowest cost wafer producer in the solar industry." LDK Solar's 1.0 GW production capacity is in line with the company's publicly announced plans to reach a target annualized wafer production capacity of up to 1.2 GW by the end of 2008, 2.2 GW by the end of 2009 and 3.2 GW by the end of 2010.

Earnings - 24th July 2008 (2)

8:04AM Terra Industries beats by $0.65, reports revs in-line (TRA) 45.64 : Reports Q2 (Jun) earnings of $1.87 per share, excluding non-recurring items, $0.65 better than the First Call

8:02AM Kennametal beats by $0.01, beats on revs; guides Q1 EPS in-line; guides FY09 EPS in-line, revs in-line (KMT) 33.57 : Reports Q4 (Jun) earnings of $0.85 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.84; revenues rose 14.5% year/year to $753 mln vs the $732.4 mln consensus. Co issues in-line guidance for Q1, sees EPS of $0.50-0.55 vs. $0.61 consensus. Co issues in-line guidance for FY09, sees EPS of $3.00-3.15 vs. $3.10 consensus; sees FY09 revs +5-7% or ~$2.84-2.59 vs. $2.83 bln consensus.

7:59AM Laboratory Corp reports EPS in-line, misses on revs; guides FY08 EPS in-line (LH) 71.65 : Reports Q2 (Jun) earnings of $1.24 per share, excluding non-recurring items, in-line with the First Call consensus of $1.24; revenues rose 10.0% year/year to $1.15 bln vs the $1.16 bln consensus. Co issues downside guidance for FY08, sees EPS of $4.54-4.66, compared to previous guidance of $4.74-4.90, vs. $4.82 consensus; co sees rev growth of 10.3-11.3%, which equates to approx $4.49-4.53 bln, compared to previous guidance of 13-14.3%, vs $4.56 bln consensus.

7:48AM Qualcomm guides Q4 EPS and revs below consensus; raises FY08 EPS guidance below consensus, revs in-line (QCOM) 44.82 : Based on the current business outlook, and prior to accounting for the recently announced NOK settlement agreement, they anticipate Q4 EPS of $0.49-0.51 vs $0.54 First Call consensus; revs $2.5-2.7 bln vs $2.71 bln First Call consensus. The co raises FY08 EPS to $2.11-2.13 vs $2.15 First Call consensus, up from $2.04-2.09 previously; sees revs $10.3-10.5 bln vs $10.47 bln First Call consensus, up from $10.0-10.4 bln previously.

7:44AM L-3 Comms beats by $0.04, beats on revs; guides FY08 EPS above consensus, revs in-line (LLL) 95.65 : Reports Q2 (Jun) earnings of $1.67 per share, excluding non-recurring items, $0.04 better than the First Call consensus of $1.63; revenues rose 9.2% year/year to $3.72 bln vs the $3.66 bln consensus. Co issues guidance for FY08, sees EPS of $6.71-6.75, excluding non-recurring items, compared to previous guidance of $6.56-6.70, vs. $6.68 consensus; sees FY08 revs of less than or equal to $14.7 bln, compared to previous guidance of $14.5-14.7 bln, vs. $14.66 bln consensus.

7:41AM MeadWestvaco beats by $0.13, beats on revs (MWV) 24.46 : Reports Q2 (Jun) earnings of $0.32 per share, excluding non-recurring items, $0.13 better than the First Call consensus of $0.19; revenues rose 8.2% year/year to $1.71 bln vs the $1.68 bln consensus. " In the Packaging Resources business, third quarter segment profit is expected to be similar to prior-year results. In the Consumer Solutions business, third quarter segment profit is expected to be similar to prior-year results. In the Consumer & Office Products business, third quarter segment profit is expected to be lower than the prior-year results. In the Specialty Chemicals business, third quarter segment profit is expected to be modestly above prior-year results."

7:38AM Goodrich beats by $0.36, beats on revs; guides FY08 EPS above consensus, revs above consensus (GR) 46.35 : Reports Q2 (Jun) earnings of $1.44 per share, $0.36 better than the First Call consensus of $1.08; revenues rose 17.3% year/year to $1.85 bln vs the $1.8 bln consensus. Co issues upside guidance for FY08, sees EPS of $4.80-4.95 (vs. $4.51 consensus), which is up from the co's previous range of $4.30-4.45; sees FY08 revs of $7.3 bln (vs. $7.24 bln consensus), up from the previous range of $7.2-$7.3 bln.

7:37AM 3M beats by $0.04, reports revs in-line; reaffirms FY08 EPS guidance (MMM) 70.80 : Reports Q2 (Jun) earnings of $1.39 per share, $0.04 better than the First Call consensus of $1.35; revenues rose 9.7% year/year to $6.74 bln vs the $6.69 bln consensus. Co reaffirms guidance for FY08, saying co continues to expect full-year 2008 earnings to increase a minimum of 10% over 2007 earnings per share of $4.98 (equates to a minimum EPS of $5.478 vs. $5.46 consensus, which excludes special items. 3M also expects operating margins of 22.5-23.5% and a tax rate of 31.5-32% for the year. Annual capital expenditures for 2008 are expected to be in the range of $1.3-1.4 bln."

7:36AM Teledyne Tech beats by $0.16, beats on revs; guides Q3 EPS in-line; guides FY08 EPS above consensus (TDY) 55.22 : Reports Q2 (Jun) earnings of $0.89 per share, $0.16 better than the First Call consensus of $0.73; revenues rose 19.6% year/year to $478.8 mln vs the $454.2 mln consensus. Co issues in-line guidance for Q3, sees EPS of $0.77-$0.79 vs. $0.77 consensus. Co issues upside guidance for FY08, sees EPS of $3.20-$3.25 vs. $3.06 consensus, an increase from the prior outlook of $2.98 to $3.06.

7:36AM ITT Educational beats by $0.15, reports revs in-line; guides FY08 EPS above consensus (ESI) 91.29 : Reports Q2 (Jun) earnings of $1.20 per share, $0.15 better than the First Call consensus of $1.05; revenues rose 13.5% year/year to $246.4 mln vs the $245.7 mln consensus. Co issues upside guidance for FY08, sees EPS of $4.65-4.75 vs. $4.47 consensus.

7:35AM Kimberly-Clark reports EPS in-line, revs in-line; guides Q3 EPS in-line; guides FY08 EPS in-line (KMB) 56.69 : Reports Q2 (Jun) earnings of $1.03 per share, excluding non-recurring items, in-line with the First Call consensus of $1.03; revenues rose 11.2% year/year to $5.01 bln vs the $4.99 bln consensus. Co issues in-line guidance for Q3, sees EPS of $0.98-1.03 vs. $1.01 consensus. Co issues in-line guidance for FY08, sees EPS of $4.20-4.30 vs. $4.22 consensus.


7:33AM FLIR Systems beats by $0.01, beats on revs; guides FY08 EPS in-line, revs in-line (FLIR) 42.78 : Reports Q2 (Jun) earnings of $0.29 per share, $0.01 better than the First Call consensus of $0.28; revenues rose 41.6% year/year to $261 mln vs the $251 mln consensus. The backlog of firm orders for delivery within the next twelve months was approximately $572 mln at June 30, 2008."Demand was excellent, particularly in our Government Systems division, and backlog at the end of the quarter was again at a record level. Based on the quarter's results, and the expectations for the remainder of the year, we are increasing our outlook for rev and EPS for the year." Co issues in-line guidance for FY08, sees EPS of $1.18-1.25 vs. $1.22 consensus; sees FY08 revs of $1.05-$1.1 bln vs. $1.09 bln consensus.

7:32AM Arctic Cat beats by $0.16, beats on revs; guides Q2 EPS below consensus, revs below consensus; guides FY09 EPS above consensus, revs in-line (ACAT) 8.12 : Reports Q1 (Jun) loss of $0.39 per share, $0.16 better than the First Call consensus of ($0.55); revenues rose 6.8% year/year to $93.9 mln vs the $88.4 mln consensus. Co issues downside guidance for Q2, sees EPS of 0.60-0.70 vs. $1.04 consensus; sees Q2 revs of 189-199 vs. $225.80 mln consensus. Co issues mixed guidance for FY09, sees EPS of 0.18-0.28 vs. $0.13 consensus; sees FY09 revs of 650-674 vs. $653.36 mln consensus.

7:20AM Cash America beats by $0.06, beats on revs; guides Q3 EPS in-line; guides FY08 EPS in-line (CSH) 43.34 : Reports Q2 (Jun) earnings of $0.67 per share, $0.06 better than the First Call consensus of $0.61; revenues rose 15.9% year/year to $247.9 mln vs the $238.7 mln consensus. Co issues in-line guidance for Q3, sees EPS of $0.62-$0.66 vs. $0.64 consensus. Co issues in-line guidance for FY08, sees EPS of $3.00-$3.20 vs. $3.08 consensus, vs previous guidance of $3.00-$3.20. products. "As the company enters 3Q08, mgmt anticipates that demand for the company's products will continue to remain strong. Mgmt is tempering its expectations, however, due to the possibility that the company may close all or a portion of its cash advance lending locations in the state of Ohio as a result of recently enacted legislation which reduces the fees permitted to be charged to a level that it would not enable the company to offer the cash advance product profitably..."

7:17AM Becton Dickinson beats by $0.08, beats on revs; guides FY08 EPS in-line (BDX) 85.60 : Reports Q3 (Jun) earnings of $1.18 per share, $0.08 better than the First Call consensus of $1.10; revenues rose 14.5% year/year to $1.87 bln vs the $1.79 bln consensus. Co issues raises guidance in-line for FY08, sees EPS up 16% which equates to $4.45 vs. $4.37 consensus, up from previous forcast of 13-14%.

7:12AM Universal Stainless/Alloy beats by $0.02, beats on revs; guides Q3 EPS in-line, revs above consensus (USAP) 36.67 : Reports Q2 (Jun) earnings of $0.77 per share, $0.02 better than the First Call consensus of $0.75. Co issues mixed guidance for Q3, sees EPS of $0.78-0.83 vs. $0.82 consensus; sees Q3 revs of $60-65 mln vs. $59.45 mln consensus."Based on their current inventory levels, we continue to expect service center order entry will begin to pick up in the second half of the year."

7:09AM Old Dominion beats by $0.04, reports revs in-line; reaffirms FY08 EPS guidance (ODFL) 35.29 : Reports Q2 (Jun) earnings of $0.64 per share, $0.04 better than the First Call consensus of $0.60; revenues rose 16.2% year/year to $417.8 mln vs the $417.1 mln consensus. Co reaffirms guidance for FY08, sees EPS of $1.90-1.95 vs. $1.92 consensus. "We continue to be cautious with our guidance for the remainder of 2008 because of the challenging industry conditions that persist."

7:04AM Raytheon beats by $0.07, beats on revs; raises FY08 guidance (RTN) 57.46 : Reports Q2 (Jun) earnings of $1.00 per share, $0.07 better than the First Call consensus of $0.93; revenues rose 11.2% year/year to $5.87 bln vs the $5.63 bln consensus. Co raises guidance for FY08, sees EPS of $3.80-3.95, up from $3.65-3.80 vs. $3.92 consensus; sees FY08 revs of $22.6-23.1 bln, up from $22.4-22.9 bln, vs. $22.93 bln consensus.

7:04AM Snap-On beats by $0.09, beats on revs (SNA) 52.23 : Reports Q2 (Jun) earnings of $1.15 per share, $0.09 better than the First Call consensus of $1.06; revenues rose 7.6% year/year to $766.1 mln vs the $756.8 mln consensus. Snap-on expects that its sales and earnings for the balance of 2008 will continue to exceed 2007 levels.

7:00AM Diamond Offshore beats by $0.22, beats on revs (DO) 116.61 : Reports Q2 (Jun) earnings of $2.99 per share, $0.22 better than the First Call consensus of $2.77; revenues rose 47.1% year/year to $954.4 mln vs the $925.6 mln consensus.