Earnings -29th April 2009 (2)

4:23PM AvalonBay beats by $0.06; guides Q2 FFO in-line (AVB) 58.04 +1.90 : Reports Q1 (Mar) funds from operations of $1.26 per share, excluding gain, $0.06 better than the First Call consensus of $1.20. Including discontinued operations, total revenue increased by $3,491,000, or 1.6% to $219,679,000. Co issues in-line guidance for Q2, sees FFO of $1.16-1.20 vs. $1.16 consensus.

4:22PM Trinity Industries beats by $0.04, beats on revs (TRN) 13.46 +1.05 : Reports Q1 (Mar) earnings of $0.28 per share, excluding $0.15 per common diluted share resulting from the sale at the end of the first quarter of $132.1 million of railcars by its railcar leasing business, $0.04 better than the First Call consensus of $0.24; revenues fell 11.7% year/year to $793.5 mln vs the $661.4 mln consensus. "We are focused on rapidly adapting to the lower product volumes that have resulted from the current economic environment. Our employees have responded well to this difficult task. While certain of our businesses did well, the first quarter was challenging for several of our other businesses. Our customers continue to be cautious as they try to get a better sense of the economy's direction."

4:22PM Covance beats by $0.02, beats on revs; guides FY09 EPS below consensus (CVD) 40.29 +1.86 : Reports Q1 (Mar) earnings of $0.63 per share, $0.02 better than the First Call consensus of $0.61; revenues rose 7.0% year/year to $441.2 mln vs the $429.4 mln consensus. Co issues downside guidance for FY09, sees EPS of $2.50-$2.70 vs. $2.88 consensus, and vs prior guidance of $3.00-$3.20. Co states, "...However, first quarter results in Early Development were well below our expectations and, while we believe a bottoming of demand is underway, we expect growth to return later and slower than originally projected and from a lower base of revenue. As a result, we are now lowering our 2009 revenue growth rate expectation to the single-digit range..."

4:17PM Agnico-Eagle Mines beats by $0.26, beats on revs (AEM) 46.02 +0.72 : Reports Q1 (Mar) earnings of $0.35 per share, $0.26 better than the consensus estimate of $0.09; revenues fell 10.5% year/year to $110.7 mln vs the $71.8 mln single analyst estimate. Payable gold production(1) in the first quarter of 2009 was a record 91,812 ounces at total cash costs per ounce(2) of $312. This compares with payable gold production of 50,892 ounces, at total cash costs per ounce of minus $399 in the first quarter of 2008.

4:16PM Nutrisystem misses by $0.02, misses on revs (NTRI) 15.09 +0.58 : Reports Q1 (Mar) earnings of $0.31 per share, $0.02 worse than the First Call consensus of $0.33; revenues fell 24.8% year/year to $162.7 mln vs the $177.3 mln consensus.

4:14PM Visa beats by $0.09, beats on revs; affirms financial outlook through 2010 (V)63.51 +2.80 : Reports Q2 (Mar) earnings of $0.73 per share, $0.09 better than the First Call consensus of $0.64; revenues rose 13.4% year/year to $1.65 bln vs the $1.61 bln consensus. Payments volume growth, on a nominal basis, was a negative 1% over the prior year at $675 bln; total volume, on a nominal basis and inclusive of cash volume, was $1.1 trillion, flat over the prior year. Visa  updates its financial outlook for annual adjusted operating margin in the low 50% range. Visa affirms its financial outlook annual net revenue growth of high single digits in 2009 and at the lower end of the 11% to 15% range in 2010, given certain economic recovery assumptions; co sees annual adjusted diluted class A common stock earnings per share growth of greater than 20%. Co says, "Despite the challenging economy, Visa continued to post strong operational and financial performance during our fiscal second quarter, and we remain confident in delivering our EPS guidance for FY 2009." Co also announces that it intends to file a universal shelf registration statement on Form S-3 with the SEC.  Although the Co expects to have the flexibility under the universal shelf to quickly access the capital markets with either equity or debt security offerings, Visa has no immediate plans to issue any such securities.

4:13PM SurModics beats by $0.05, beats on revs (SRDX) 18.75 +0.24 : Reports Q2 (Mar) earnings of $0.24 per share, $0.05 better than the First Call consensus of $0.19; revenues fell 18.7% year/year to $20.9 mln vs the $20.5 mln consensus.

4:12PM ManTech misses by $0.01, misses on revs; guides Q2 EPS in-line, revs below consensus; guides FY09 EPS in-line, revs below consensus (MANT) 43.22 +1.18 : Reports Q1 (Mar) earnings of $0.68 per share, $0.01 worse than the First Call consensus of $0.69; revenues rose 5.8% year/year to $449.6 mln vs the $495.2 mln consensus. Co issuesmixed guidance for Q2, sees EPS of $0.71-$0.74 vs. $0.73 consensus; sees Q2 revs of $480-$510 mln vs. $529.45 mln consensus. Co issues mixed guidance for FY09, sees EPS of $2.91-$3.01 vs. $2.98 consensus; sees FY09 revs of $2.00-$2.075 bln vs. $2.14 bln consensus.

4:08PM Human Genome beats by $0.31, beats on revs (HGSI) 1.39 +0.06 : Reports Q1 (Mar) earnings of $0.85 per share, $0.31 better than the First Call consensus of $0.54; revenues rose 1341.5% year/year to $177.3 mln vs the $150.4 mln consensus. 2008. Revenues included $153.8 million recognized upon the sale and delivery of ABthrax to the U.S. Strategic National Stockpile, $9.0 million recognized from the Syncria agreement with GSK, $8.9 million recognized from the Albuferon agreement with Novartis and $1.6 million recognized from the LymphoStat-B agreement with GSK.

4:08PM Citrix Systems beats by $0.01, beats on revs, issues 2Q09 guidance (CTXS)25.65 -0.19 : Reports Q1 (Mar) earnings of $0.32 per share, $0.01 better than the First Call consensus of $0.31; revenues fell 2.1% year/year to $369 mln vs the $359.2 mln consensus. Citrix expects to achieve the following results during its second fiscal quarter 2009 ending June 30, 2009: Net revenue is expected to be flat to slightly down compared to the net revenue reported for the second quarter of 2008; and, Non-GAAP operating margin is expected to increase between 100 and 150 basis points compared to the second quarter 2008, excluding the effects of amortization of intangible assets primarily related to business combinations, stock-based compensation expense, and restructuring charges. In addition to quarterly financial results, Citrix also announced that its board of directors has authorized it to repurchase up to an additional $300 million of its common stock.

4:08PM Digital River beats by $0.05, beats on revs; guides Q2 EPS below consensus, revs above consensus (DRIV) 36.35 +1.53 : Reports Q1 (Mar) earnings of $0.56 per share, excluding non-recurring items, $0.05 better than the First Call consensus of $0.51; revenues fell 0.7% year/year to $102.9 mln vs the $98.8 mln consensus. Co issues mixed guidance for Q2, sees EPS of $0.39-0.42, excluding non-recurring items, vs. $0.44 consensus; sees Q2 revs of $95-97 mln vs. $95.15 mln consensus. "We are very encouraged by the solid growth in our pipeline, the high caliber of companies that we are adding to our client list, and the moderate sequential increase we saw in e-commerce sales activity.

4:06PM Akamai Tech beats by $0.03, reports revs in-line; announces $100 mln stock buyback (AKAM) 20.06 +0.46 : Reports Q1 (Mar) earnings of $0.43 per share, $0.03 better than the First Call consensus of $0.40; revenues fell 1.0% year/year to $210.4 mln vs the $208.5 mln consensus. AKAM announces $100 mln stock buyback, to be funded by cash from operations. The Company plans to use this program over the next several quarters to roughly offset dilution created by ongoing equity compensation programs. "The Board's authorization of a share repurchase program reflects our continued confidence in the future of our business and our focus on providing an attractive return on investment to our shareholders... We plan to fund this program out of our operating cash flow while maintaining flexibility to make strategic investments, which is a testament to our belief in the strength of our business." Cash from operations was $90.5 million in the first quarter of 2009, up 3 percent over 2008 first quarter cash from operations of $88.0 million. At the end of the first quarter of 2009, the Company had approximately $848.5 million in cash, cash equivalents and marketable securities.

4:06PM Amkor beats by $0.16, beats on revs; guides Q2 EPS above consensus, revs above consensus (AMKR) 4.06 +0.26 : Reports Q1 (Mar) loss of $0.12 per share, $0.16 better than the First Call consensus of ($0.28). Co issues upside guidance for Q2, sees EPS of -0.04 to $0.00 vs. ($0.25) consensus; sees Q2 revs to increase 18% to 22% from the first quarter, which calculates to roughly $459.02-$474.58 mln vs. $419.12 mln consensus. Co says "Our sales were adversely impacted by the sharp global economic downturn and weakness in consumer demand. However, there remains significant uncertainty regarding the full scope and duration of the current downturn, and it is difficult to predict future results in this very challenging economic environment... Gross margin for the first quarter of 2009 was 12%, and we expect that gross margin for the second quarter of 2009 will be between 17% and 19%. In the current environment, we are focused on gross margin and cash flows. Starting in early 2008, we began implementing wide-ranging, but carefully selected cost reduction measures to align our cost structure with decreasing levels of demand. Our first quarter operating results compared to the fourth quarter of 2008 benefited by approximately $55 million from these cost reduction programs,"

4:05PM Express Scripts beats by $0.04, reports revs in-line; guides FY09 EPS in-line (ESRX) 60.45 -0.50 : Reports Q1 (Mar) earnings of $0.86 per share, $0.04 better than the First Call consensus of $0.82; revenues fell 1.2% year/year to $5.42 bln vs the $5.4 bln consensus. Co issues in-line guidance for FY09, sees EPS of $3.67-3.77 vs. $3.68 consensus. This guidance range excludes NextRx transaction-related costs and NextRx results after the transaction closes.

4:05PM International Coal beats by $0.02, misses on revs (ICO) 1.97 +0.08 : Reports Q1 (Mar) earnings of $0.02 per share, $0.02 better than the First Call consensus of ($0.00); revenues rose 21.1% year/year to $305 mln vs the $309.2 mln consensus. Margin per ton sold increased 144% to $8.94 in the first quarter of 2009, compared to $3.67 for the same period last year, due to higher realized prices and improved cost performance. For 2009, the co expects to sell approximately 19.3 million to 19.9 million tons of coal. The average selling price is projected to be $59.50 to $60.00 per ton. The projected average cost per ton sold is $49.25 to $50.75, excluding selling, general and administrative expenses. The co expects coal production to be approximately 18.5 million to 19.1 million tons. For 2010, based upon the recent weakness in coal demand, the company expects to sell 18.5 million to 19.5 million tons of coal. Coal production is expected to total 18.0 million to 19.0 million tons. However, the Co plans to maintain idled mines in a status that allows timely reactivation if 2010 market demand is sufficient to support greater Central Appalachian production. Due to the high degree of market uncertainty, the co is not offering revenue or cost guidance for 2010. The Company anticipates 2009 capital expenditures of approximately $90-$95 million.

4:03PM Varian Medical beats by $0.04, misses on revs; guides Q3 EPS in-line; guides FY09 EPS in-line (VAR) : Reports Q2 (Mar) earnings of $0.64 per share, $0.04 better thanthe First Call consensus of $0.60; revenues rose 6.8% year/year to $553.6 mln vs the $562.3 mln consensus. Co issues in-line guidance for Q3, sees EPS of $0.61-0.65 vs. $0.63 consensus. Co issues in-line guidance for FY09, sees EPS of $2.50-2.60 vs. $2.56 consensus.

4:03PM First Solar beats by $0.48, beats on revs (FSLR) 151.67 +5.01 : Reports Q1 (Mar) earnings of $1.99 per share, $0.48 better than the First Call consensus of $1.51; revenues rose 112.4% year/year to $418.2 mln vs the $403.4 mln consensus.

4:02PM Itron misses by $0.19, reports revs in-line (ITRI) 51.35 +3.18 : Reports Q1 (Mar) earnings of $0.33 per share, $0.19 worse than the First Call consensus of $0.52; revenues fell 18.6% year/year to $389 mln vs the $392.3 mln consensus. New order bookings for the first quarter of 2009 were $625 mln, compared with $484 mln in the first quarter of 2008. Our book-to-bill ratios were 1.6 to 1 and 1.02 to 1 for the first quarter of 2009 and 2008, respectively.

8:21AM Affiliated Managers beats by $0.02, misses on revs (AMG) 44.68 : Reports Q1 (Mar) "cash" earnings of $0.94 per share, excluding non-recurring items, $0.02 better thanthe First Call consensus of $0.92; revenues fell 46.7% year/year to $178.5 mln vs the $194.5 mln consensus.

8:06AM CenterPoint misses by $0.12, beats on revs; reaffirms FY09 EPS guidance (CNP) 10.74 : Reports Q1 (Mar) earnings of $0.19 per share, $0.12 worse than the First Call consensus of $0.31; revenues rose 21.6% year/year to $3.36 bln vs the $3.26 bln consensus. Co reaffirms guidance for FY09, sees EPS of $1.05-1.15 vs. $1.09 consensus.

Earnings - 25th Feb 2009

6:47PM Goodrich Petroleum beats by $0.06, misses on revs (GDP) 25.51 -0.22 : Reports Q4 (Dec) loss of $0.01 per share, $0.06 better than the First Call consensus of ($0.07); revenues rose 35.7% year/year to $44.1 mln vs the $49.9 mln consensus.

5:39PM United Rentals beats by $0.21, reports revs in-line; suspends guidance (URI)4.19 -0.33 : Reports Q4 (Dec) earnings of $0.72 per share, excluding $15.41 in non-recurring charges and $0.44 in gains, $0.21 better than the First Call consensus of $0.51; revenues fell 14.5% year/year to $791 mln vs the $788.2 mln consensus. The co also announced that it will suspend issuing formal guidance due to continued uncertainty in the macro-economy and the impact of the credit environment on the co's customers.

5:35PM California Water misses by $0.04, misses on revs (CWT) 40.88 +0.13 : Reports Q4 (Dec) earnings of $0.35 per share, $0.04 worse than the First Call consensus of $0.39; revenues rose 16.5% year/year to $100.1 mln vs the $101.7 mln consensus.

5:33PM Flowserve beats by $0.14, misses on revs; guides FY09 EPS above consensus (FLS) 46.12 -1.42 : Reports Q4 (Dec) earnings of $2.03 per share, $0.14 better than the First Call consensus of $1.89; revenues rose 5.4% year/year to $1.17 bln vs the $1.26 bln consensus. Co reaffirms upside guidance for FY09, sees EPS of $7.25-8.25, excluding ~$0.50 in non-recurring items, vs. $6.96 consensus.

4:51PM Circor beats by $0.31, beats on revs; guides Q1 EPS in-line, revs below consensus (CIR) 20.74 +0.06 : Reports Q4 (Dec) earnings of $1.12 per share, excluding a pre-tax, non-cash goodwill and intangible impairment charge of $141.3 million recorded as a special charge, $0.31 better than the First Call consensus of $0.81; revenues rose 15.8% year/year to $202 mln vs the $194.9 mln consensus. Co issues mixed guidance for Q1, sees EPS of $0.56-0.68 vs. $0.65 consensus; sees Q1 revs of $170-176 mln vs. $184.45 mln consensus.

4:48PM Tenaris beats by $0.02, beats on revs (TS) 17.96 -0.98 : Reports Q4 (Dec) earnings of $1.01 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.99; revenues rose 3.9% year/year to $3.24 bln vs the $3.01 bln consensus. Co says, "We estimate that global apparent demand for OCTG in 2008 rose by around 11% in 2008 compared to 2007. This increase includes a substantial surge in inventories in the US fueled by surging Chinese imports of standard and non heat-treated products. We expect that apparent demand for OCTG will suffer a strong adjustment in 2009, reflecting an expected decline in oil and gas drilling activity and efforts to reduce inventories. Demand for premium and other high-end OCTG products should hold up better than for standard product grades as oil and gas companies maintain their investments in complex projects already underway. Demand for our large-diameter pipes for pipeline projects in South America rose during 2008 as we made deliveries to a number of pipeline projects in Brazil, Argentina and Colombia.However, sales are expected to decline in 2009 as the current order backlog is lower than last year and customers delay the implementation of new projects.Steelmaking raw material costs for our seamless pipe products and steel costs for our welded pipe products rose steeply in the first half of the year but fell even more steeply during the second half of the year as the recessionary environment had an almost immediate impact on global steelmaking activity. Pipe prices, which had risen during the second and third quarter are now declining following the correction in raw material and energy costs."

4:33PM Genco Shipping & Trading misses by $0.01, beats on revs (GNK) 11.66 -1.06 : Reports Q4 (Dec) earnings of $1.55 per share, $0.01 worse than the First Call consensus of $1.56; revenues rose 54.6% year/year to $101.6 mln vs the $100.2 mln consensus. The average daily time charter equivalent, or TCE, rates obtained by the company's fleet increased 13.4% to $35,304 per day for the three months ended December 31, 2008 compared to $31,140 for the three months ended December 31, 2007. "We estimate that one of our vessels will be drydocked in the first quarter of 2009. An additional six vessels will be drydocked in the remainder of 2009."

4:32PM USEC Inc. reports EPS in-line, misses on revs; guides FY09 revs above consensus (USU) 5.28 -0.16 : Reports Q4 (Dec) earnings of $0.16 per share, in-line with the First Call consensus of $0.16; revenues fell 30.0% year/year to $431.9 mln vs the $440.4 mln consensus. Co issues upside guidance for FY09, sees FY09 revs of $2.2-2.25 bln vs. $2.01 bln consensus. 

4:13PM Fluor beats by $0.12, beats on revs; reaffirms FY09 EPS guidance (FLR) 32.95 -2.38 : Reports Q4 (Dec) earnings of $1.04 per share, $0.12 better than the First Call consensus of $0.92; revenues rose 28.9% year/year to $6.07 bln vs the $5.81 bln consensus. Co reaffirms guidance for FY09, sees EPS of $3.90-4.20 vs. $3.76 consensus. The fourth quarter of 2008 benefited from a low tax rate, including a $12 million reduction for the capital loss resulting from the sale of the existing office facilities in the United Kingdom. Increased fourth quarter operating results were primarily due to growth in the Oil & Gas segment. While the company sees evidence of a slowdown in certain new capital investment programs, the impact to Fluor's backlog has been relatively minor.

4:13PM Salesforce.com beats by $0.04, beats on revs; guides Q1 EPS in-line, revs in-line; guides FY10 EPS above consensus, revs in-line (CRM) 28.10 +0.63 : Reports Q4 (Jan) earnings of $0.11 per share, $0.04 better than the First Call consensus of $0.07. Co issues in-line guidance for Q1, sees EPS of $0.10-0.11 vs. $0.10 consensus; sees Q1 revs of $304-305 vs. $305.48 mln consensus. Co issues mixed guidance for FY10, sees EPS of $0.54-0.55 vs. $0.51 consensus; sees FY10 revs of $1.30-1.33 bln vs. $1.33 bln consensus. "Salesforce.com is proud to be the first billion dollar cloud computing company... the company announced it has reached 55,400 customers and surpassed 1.5 million net paying subscribers."

4:08PM Perini beats by $0.03, reports revs in-line; guides FY09 EPS below consensus, revs below consensus (PCR) 16.58 -1.62 : Reports Q4 (Dec) earnings of $0.79 per share, $0.03 better than the First Call consensus of $0.76. Co issues downside guidance for FY09, sees EPS of $2.60-2.80 down from $2.80-3.00 vs. $2.95 consensus; sees FY09 revs of $5.5-6 bln down from $6-6.5 bln vs. $6.16 bln consensus. Co says "We believe that the Stimulus Package will present a number of good opportunities for our Company. We are very well positioned geographically as a financially strong and diversified building and civil infrastructure construction company."

4:06PM NuVasive misses by $0.03, beats on revs; guides Q1 EPS in-line, revs in-line; guides FY09 revs in-line (NUVA) 35.89 -0.35 : Reports Q4 (Dec) earnings of $0.10 per share, $0.03 worse than the First Call consensus of $0.13; revenues rose 59.1% year/year to $74.6 mln vs the $73.2 mln consensus. Co issues in-line guidance for Q1, sees EPS of $0.01-0.03 vs. $0.02 consensus; sees Q1 revs of $75 vs. $75.11 mln consensus. Co issuesguidance for FY09, sees EPS of $0.83-0.85, may not compare to $0.34 consensus; sees FY09 revs of $345-350 vs. $347.77 mln consensus. "The Osteocel and Progentix transactions strongly position us to compete in the $1.5 billion biologics market as we seek to grow the product line to over $100 million in the next few years. Despite uncertain economic conditions, we see 2009 as an opportunity for NuVasive to continue taking market share with the speed and creativity that we have become known for. To that end, we plan to aggressively invest in the growth of our business in 2009, including the initiation of our XLTDR clinical study, increased scientific and marketing investments in our biologics platform, continued international expansion, and the launch of fifteen new products and line extensions. We look forward to capitalizing on current market conditions to accelerate our move into the top tier of global spine companies."

4:02PM ManTech reports EPS in-line, misses on revs; guides Q1 EPS above consensus, revs in-line; guides FY09 EPS in-line, revs in-line (MANT) : Reports Q4 (Dec) earnings of $0.69 per share, in-line with the First Call consensus of $0.69; revenues rose 17.3% year/year to $494.7 mln vs the $505.8 mln consensus. Co sees Q1 EPS of $0.68-0.71 vs. $0.67 consensus; sees Q1 revs of $485-505 mln vs. $493.33 mln consensus. Co issues in-line guidance for FY09, sees EPS of $2.91-3.05 vs. $2.95 consensus; sees FY09 revs of $2.1-2.2 bln vs. $2.12 bln consensus.

8:21AM Dollar Tree beats by $0.02, reports revs in-line; guides Q1 EPS in-line, revs in-line; guides FY10 EPS in-line, revs in-line (DLTR) 36.06 : Reports Q4 (Dec) earnings of $1.15 per share, $0.02 better than the First Call consensus of $1.13; revenues rose 6.8% year/year to $1.39 bln vs the $1.39 bln consensus. Co issues in-line guidance for Q1, sees EPS of $0.49-0.54 vs. $0.52 consensus; sees Q1 revs of $1.13-1.16 bln vs. $1.14 bln consensus. Co issues in-line guidance for FY10, sees EPS of $2.55-2.75 vs. $2.72 consensus; sees FY10 revs of $4.96-5.09 vs. $4.98 bln consensus.

8:07AM Del Monte beats by $0.08, misses on revs; guides FY09 EPS above consensus (DLM) 6.55 : Reports Q3 (Jan) earnings of $0.30 per share, $0.08 better thanthe First Call consensus of $0.22; revenues rose 8.4% year/year to $942.3 mln vs the $956.3 mln consensus. Co issues upside guidance for FY09, sees EPS of $0.64-0.68 vs. $0.59 consensus, up from previous guidance of $0.58-0.62. Co sees FY09 sales up 9-11% vs previous guidance of up 8-10%; we calculate this to be a range of $3.49-3.55 bln vs $3.52 bln consensus.

7:33AM Petrohawk Energy misses by $0.07, beats on revs (HK) 17.50 : Reports Q4 (Dec) loss of $0.04 per share, $0.07 worse than the First Call consensus of $0.03; revenues rose 19.1% year/year to $270.7 mln vs the $225.9 mln consensus.

7:31AM POZEN beats by $0.11, beats on revs (POZN) 5.75 : Reports Q4 (Dec) loss of $0.14 per share, $0.11 better than the First Call consensus of ($0.25); revenues rose 125.6% year/year to $14 mln vs the $10.5 mln consensus.

6:34AM SPX Corp beats by $0.19, misses on revs (SPW) 42.27 : Reports Q4 (Dec) earnings of $2.06 per share, $0.19 better than the First Call consensus of $1.87; revenues rose 17.1% year/year to $1.51 bln vs the $1.53 bln consensus. "However, global economic conditions changed drastically in the final months of the year, and we were not immune to these events. We experienced backlog declines in the fourth quarter, and were required to record an impairment charge to the asset value of one of our businesses. The first quarter of 2009 continues to be difficult for our customers, and we are anticipating that trend will continue throughout the year."

12:10AM Sociedad Quimica y Minera de Chile reports Q408 results (SQM) 29.93 : Co anounces year/year earnings growth of 170% for Q408, reporting quarterly net income of $120.3 mln ($0.46 per ADR) compared to the 2007 figure of $44.6 mln ($0.17 per ADR). Operating income for the fourth quarter reached $150.8 mln, 151% higher than the $60.1 mln recorded for the same period of 2007. Revenues totaled $397.9 mln, an increase of approx 29.9% with respect to Q407, when revenues amounted to $306.2 mln.

12:05AM Ormat Tech beats by $0.01, beats on revs (ORA) 29.42 : Reports Q4 (Dec) earnings of $0.26 per share, $0.01 better than the First Call consensus of $0.25; revenues rose 35.2% year/year to $95.5 mln vs the $84.1 mln consensus. Commenting on the outlook for 2009, CEO Dita Bronicki said, "We expect our 2009 Electricity Segment revenues to be between $280 mln and $290 mln. We also expect an additional $9 mln of revenues from our share of electricity revenue generated by a subsidiary, which is accounted for under the equity method. With regard to our Products Segment, we expect that our 2009 revenues will be between $100 mln and $120 mln." Co expects to pay a dividend of $0.06/share in the next three quarters, compared to $0.05 per quarter in 2008.

Earnings - 30th July 2008 (2)

6:30PM Owens-Illinois beats by $0.13, reports revs in-line (OI) 48.06 +0.23 : Reports Q2 (Jun) earnings of $1.35 per share, excluding non-recurring items, $0.13 better than the First Call consensus of $1.22; revenues rose 10.7% year/year to $2.21 bln vs the $2.2 bln consensus. Co gives outlook saying, "Rising input costs and a slower economy will make the second half of 2008 a tougher operating environment for all packaging manufacturers, including O-I," said Stroucken. "In spite of this, we fully expect that 2008 will be a record year for the Company, as we will continue to be aggressive with our pricing, footprint realignment, Lean Six Sigma and productivity improvement initiatives. In this environment our operational decisions will be largely guided by our cash flow objectives for the year and beyond."

6:28PM AvalonBay beats by $0.02, beats on revs; guides Q3 FFO above consensus; guides FY08 FFO above consensus (AVB) 103.08 +0.83 : Reports Q2 (Jun) funds from operations of $1.26 per share, $0.02 better than the First Call consensus of $1.24; revenues rose 9.0% year/year to $221.8 mln vs the $213.2 mln consensus. Co issues upside guidance for Q3, sees FFO of $1.26-1.30 vs. $1.25 consensus. Co issues upside guidance for FY08, sees FFO of $5.00-5.15 vs. $4.97 consensus.

5:21PM ANDE raises guidance, sees FY08 EPS of $5.00-5.40 vs $4.61 First Call consensus :
Andersons raises FY08 guidance above consensus (ANDE) 42.16 +0.51 : ANDE raises FY08 EPS guidance to $5.00-5.40 vs $4.61 First Call consensus. The increase is primarily attributed to the Plant Nutrient Group's continuing performance trend this year.

5:17PM Circor beats by $0.10, beats on revs; guides Q3 EPS above consensus (CIR) 63.15 +2.96 : Reports Q2 (Jun) earnings of $1.08 per share, $0.10 better than the First Call consensus of $0.98; revenues rose 24.5% year/year to $206.6 mln vs the $194.2 mln consensus. Co issues upside guidance for Q3, sees EPS of $0.90-1.00, excluding non-recurring items, vs. $0.89 consensus.

5:04PM Oceaneering Intl beats by $0.03, beats on revs; guides Q3 EPS below consensus; guides FY08 EPS below consensus (OII) 67.62 +3.73 : Reports Q2 (Jun) earnings of $0.93 per share, including a $2.0 mln gain on the sale of the production barge San Jacinto, $0.03 better than the First Call consensus of $0.90; revenues rose 15.8% year/year to $500.1 mln vs the $483.5 mln consensus. Co issues downside guidance for Q3, sees EPS of $0.90-$1.00 vs. $1.02 consensus. Co issues downside guidance for FY08, sees EPS of $3.45-3.65 vs. $3.68 consensus.


5:03PM Tesoro beats by $0.09, beats on revs (TSO) 16.51 +0.73 : Reports Q2 (Jun) earnings of $0.03 per share, excluding $0.58 loss in derivative positions, and gain of $0.35 in change in accounting, $0.09 better than the First Call consensus of ($0.06); revenues rose 56.2% year/year to $8.75 bln vs the $5.91 bln consensus. Co says in comparison to last year, lower gross refining margins and higher operating costs were met with reduced refining throughput. Co notes in Q1, the company announced its goal to realize approx $750 mln to $1 bln of operating cash flow through reductions in operating costs, capital expenditures and working capital to fund short term debt reductions and the $870 mln capital program, including turnarounds. As of July 30th, there were no borrowings on the revolver and the company had a cash balance of approximately $100 million.

4:38PM SW Energy beats by $0.02, beats on revs (SWN) 35.73 +2.75 : Reports Q2 (Jun) earnings of $0.39 per share, $0.02 better than the First Call consensus of $0.37; revenues rose 123.8% year/year to $604.4 mln vs the $474.2 mln consensus. SWN has increased its production guidance for the remainder of 2008, forecasting Q3 47.0-49.0 Bcfe vs. previous guidance of 43.0-44.5; sees Q4 50.0-52.0 Bcfe vs. previous guidance of 44.5-46.0.

4:36PM Concur Tech beats by $0.07, beats on revs; guides Q4 revs in-line; guides FY08 revs in-line (CNQR) 41.59 +0.39 : Reports Q3 (Jun) earnings of $0.19 per share, excluding stock based comp and amortization, $0.07 better than the First Call consensus of $0.12; revenues rose 65.4% year/year to $54.9 mln vs the $53.5 mln consensus. Co issues guidance for Q4, sees EPS of $0.22, excludes items, may not be comparable to $0.13 consensus; sees Q4 revs of $56 mln vs. $55.45 mln consensus. Co issues guidance for FY08, sees EPS of $0.32, excludes items may not be comparable to $0.49 consensus; sees FY08 revs of $214 mln vs. $211.94 mln consensus.

4:32PM Tetra Tech beats by $0.03, beats on revs; guides Q4 EPS above consensus, revs above consensus; guides FY08 EPS above consensus, revs above consensus (TTEK) 24.18 -0.57 : Reports Q3 (Jun) earnings of $0.27 per share, $0.03 better than the First Call consensus of $0.24; revenues rose 39.7% year/year to $564.3 mln vs the $304.3 mln consensus. Co issues upside guidance for Q4, sees EPS of $0.27-0.29 vs. $0.26 consensus; sees Q4 revs of $325-345 mln vs. $316.27 mln consensus. Co issues upside guidance for FY08, sees EPS of $0.99-1.01 vs. $0.95 consensus; sees FY08 revs of $1.22-1.24 bln vs. $1.19 bln consensus.

4:24PM General Maritime beats by $0.14, beats on revs (GMR) 26.05 +0.99 : Reports Q2 (Jun) earnings of $0.69 per share, excluding non-recurring items, $0.14 better than the First Call consensus of $0.55; revenues rose 24.6% year/year to $69.3 mln vs the $64.4 mln consensus.

4:23PM Visa beats by $0.11, beats on revs; reaffirms FY08-10 rev & EPS growth outlook, raises operating margin guidance (V) 78.45 +2.48 : Reports Q3 (Jun) earnings of $0.59 per share, $0.11 better than the First Call consensus of $0.48; revenues rose 18.2% year/year to $1.61 bln vs the $1.55 bln consensus. V reaffirms FY08-10 rev growth outlook of 11-15%; raises FY08-10 op margin guidance. V reaffirms FY08-10 rev growth outlook of 11-15% and annual adjusted diluted EPS growth of 20% or greater. Raises FY08 adjusted operating margin expectation to the mid 40%'s range. Co raises its outlook for FY 2009 and 2010 to annual adjusted operating margin in the mid-to-high 40%'s range. Total processed transactions, which are based on current fiscal third quarter results on Visa's processing system, were 9.5 billion, a 13% increase over the prior year.

4:20PM FormFactor beats by $0.12, beats on revs (FORM) 16.48 +0.36 : Reports Q2 (Jun) loss of $0.34 per share, $0.12 better than the First Call consensus of ($0.46); revenues fell 54.4% year/year to $52 mln vs the $47.2 mln consensus.

4:20PM Genco Shipping & Trading beats by $0.17, beats on revs (GNK) : Reports Q2 (Jun) earnings of $1.95 per share, excluding non-recurring items, $0.17 better than the First Call consensus of $1.78; revenues rose 183.5% year/year to $104.6 mln vs the $98.4 mln consensus.

4:15PM Flowserve beats by $0.48, beats on revs; raises Y08 guidance (FLS) 134.71 +7.09 : Reports Q2 (Jun) earnings of $1.97 per share, excluding non-recurring items, $0.48 better than the First Call consensus of $1.49; revenues rose 24.4% year/year to $1.16 bln vs the $1.12 bln consensus. Co issues upside guidance for FY08, sees EPS of $7.20-7.50, compared to previous guidance of $5.90-6.20, vs. $6.31 consensus.

4:13PM Las Vegas Sands misses by $0.03, reports revs in-line (LVS) 46.16 +2.12 : Reports Q2 (Jun) earnings of $0.09 per share, excluding non-recurring items, $0.03 worse than the First Call consensus of $0.12; revenues rose 81.4% year/year to $1.11 bln vs the $1.11 bln consensus. "Our second quarter results reflect both solid operating performance in Macao and Las Vegas and the measured execution of our global growth and development strategy. In Asia, our efforts to transform Macao into Asia's premier business and leisure destination steadily march forward. The Venetian Macao, the anchor of the Cotai Strip(TM), continues to consistently deliver market-leading visitation to Macao from around the region and the world, while the natural maturation process of the property's operations is now beginning to be reflected in the property's operating results. As we make final preparations for the opening next month of the Cotai Strip's second world-class destination resort, the Four Seasons Macao, we remain focused on the fundamental goal and commitment we share with the people of Macao -- the transformation of Macao into Asia's premier business and leisure destination. We remain confident that the execution of our Cotai Strip development strategy will deliver significant economic benefits to Macao and the entire region, as well as industry-leading returns to our shareholders. In Las Vegas, despite a more challenging economic environment, the combined Venetian and Palazzo complex, the largest integrated destination resort in the world, began to mature and to realize some of the significant operating efficiencies resident in our original master plan. As the Venetian and Palazzo complex continues this maturation process, we believe it is uniquely positioned to deliver strong growth and industry-leading returns in the Las Vegas market for years to come."

4:07PM Digital River beats by $0.04, beats on revs; guides Q3 EPS above consensus, revs above consensus; guides FY08 EPS above consensus, revs above consensus (DRIV) 39.01 +0.26 : Reports Q2 (Jun) earnings of $0.37 per share, $0.04 better than the First Call consensus of $0.33; revenues rose 25.8% year/year to $98.4 mln vs the $91 mln consensus. Co issues upside guidance for Q3, sees EPS of $0.47 vs. $0.45 consensus; sees Q3 revs of $98.5 mln vs. $96.51 mln consensus. Co issues upside guidance for FY08, sees EPS of $2.00 vs. $1.90 consensus; sees FY08 revs of $410 mln vs. $401.30 mln consensus. "Our core software business continues to perform well, and our ability to translate this success into complementary verticals is paying off. We are making consistent progress extending our e-commerce services and winning new business in consumer electronics and games."

4:07PM Sequenom misses by $0.06, reports revs in-line; reaffirms FY08 revs (SQNM) 21.15 -0.56 : Reports Q2 (Jun) loss of $0.21 per share, $0.06 worse than the First Call consensus of ($0.15); revenues rose 25.5% year/year to $12.8 mln vs the $12.7 mln consensus. Co reaffirms guidance for FY08, sees FY08 revs of $50-53 mln vs. $51.79 mln consensus. Net loss for FY08 is expected to be $34-36 mln as compared to the previously announced guidance of $30-33 mln; the expected increased loss is primarily reflective of increased stock-based compensation expenses due to the recent increase in our stock price in conjunction with new employee stock option awards, as well as projected legal expenses

4:06PM First Solar beats by $0.27, beats on revs (FSLR) : Reports Q2 (Jun) earnings of $0.85 per share, $0.27 better than the First Call consensus of $0.58; revenues rose 57.2% year/year to $267 mln vs the $216.9 mln consensus.

4:05PM Itron beats by $0.20, beats on revs; guides Q3 revs in-line; raises Y08 guidance range (ITRI) 91.78 -1.20 : Reports Q2 (Jun) earnings of $1.02 per share, excluding non-recurring items, $0.20 better than the First Call consensus of $0.82; revenues rose 27.9% year/year to $514 mln vs the $478.1 mln consensus. Co issues in-line guidance for Q3, sees Q3 revs of $465-480 mln vs. $471.55 mln consensus. Co raises guidance range for FY08, sees EPS of $3.35-3.50, compared to previous guidance of $3.25-3.45, vs. $3.38 consensus; sees FY08 revs of $1.91-1.95 bln, compared to previous guidance of $1.88-1.93, vs. $1.92 bln consensus.

4:03PM ManTech beats by $0.02, beats on revs; guides Q3 EPS above consensus, revs above consensus; raises FY08 EPS above consensus, revs above consensus (MANT) 56.63 +1.30 : Reports Q2 (Jun) earnings of $0.62 per share, $0.02 better than the First Call consensus of $0.60; revenues rose 33.4% year/year to $465 mln vs the $442.8 mln consensus. Co issues upside guidance for Q3, sees EPS of $0.63-0.66 vs. $0.62 consensus; sees Q3 revs of $473-488 mln vs. $450.04 mln consensus. Co raises guidance for FY08, sees EPS of $2.46-2.53 vs. $2.44 consensus, up from $2.37-2.47; raises FY08 revs to $1.85-1.88 bln vs. $1.79 bln consensus, up from $1.74-1.80 bln.