6:46PM Broadcom lowers Q4 guidance (BRCM) 15.46 +0.52 : Co says due to the current global economic environment, customers across each of Broadcom's targeted end markets have requested adjustments in their deliveries for the fourth quarter, resulting in significant pushouts and cancellations since the co originally provided guidance for the quarter in October 2008. Co now sees Q4 revs $1,050 to $1,100 mln including AMD Digital TV (DTV) acquisition, may not be comparable to $1.19 bln consensus, down from $1,170-1,235 mln excluding AMD DTV acquisition. Co's BRCD's gross margin is expected to be down 105 to 130 basis points sequentially excluding the AMD DTV business. Including a negative 20 basis point impact associated with acquisition related accounting for AMD's DTV business inventory, gross margin is expected to be down 125 to 150 basis points. Down 50 to 75 basis points sequentially excluding the AMD DTV acquisition. Co says, "Despite the recent impact of the slowing economy, BRCM experienced a very strong fiscal year from a product, financial and customer perspective. BRCM continues to be in a very strong financial position and is committed to protecting our operating cash flow in this current environment"
4:32PM FedEx sees Q2 EPS of $1.58 vs $1.54 First Call consensus; sees FY09 $3.50-4.75 vs $5.15 First Call consensus (FDX) 74.43 : The co announces that it expects to report earnings of $1.58 per diluted share for the second quarter ended November 30. Previous earnings guidance for the quarter was $1.40 to $1.60 per diluted share. For fiscal 2009, the company has reduced its earnings guidance to $3.50 to $4.75 per diluted share from the previous guidance of $4.75 to $5.25, as significantly weaker macroeconomic conditions are expected to offset the benefits from lower fuel prices and the announced departure of DHL from the U.S. domestic package market. This outlook assumes stable fuel prices. "Second quarter results benefited from rapidly declining fuel prices and continued cost management," said Alan Graf, Jr., executive vice president and chief financial officer. "However, demand for our services weakened sequentially throughout the quarter and global economic trends continue to worsen, substantially reducing our second half outlook. We are adjusting our expense plans to more closely align with the weaker business conditions, and are now targeting capital spending of $2.5 billion for fiscal 2009, down from $3.0 billion at the start of the year."
4:31PM Texas Instruments lowers Q4 EPS and revs guidance below consensus (TXN) 14.82 +0.26 : Co lowers Q4 EPS to $0.10-0.16 vs $0.31 First Call consensus, from prior guidance of $0.30-0.36; sees revs $2.3-2.5 bln vs $2.91 bln First Call consensus, from prior guidance of $2.83-3.07 bln. Briefing.com note: TXN will hold a conf call at 5:30 ET to discuss this update. (Stock is halted)
4:27PM H & R Block reports EPS in-line, misses on revs; guides FY09 EPS in-line (HRB) 20.35 +0.17 : Reports Q2 (Oct) loss of $0.40 per share, in-line with the First Call consensus of ($0.40); revenues fell 1.5% year/year to $351.5 mln vs the $397.3 mln consensus. Co issues in-line guidance for FY09, sees EPS of $1.60-1.70 vs. $1.63 consensus.
4:17PM Con-way lowers FY08 EPS guidance below consensus (CNW) 25.77 +0.88 : Co lowers FY08 EPS to $2.20-2.35 vs $2.79 First Call consensus, down from $2.60-2.80. Co says with three weeks remaining to the end of the year, the co is maintaining a relatively wide range in guidance, due to turbulent market conditions and lack of reliable visibility into an economy which continues to deteriorate. Co says, "While we are focused on aggressive cost-reduction measures, over the past two months the effect of decelerating volumes in the LTL market, coupled with pricing pressures and lower fuel surcharges have significantly curtailed expectations for 2008 earnings, Q4 in particular." CNW reduced its nationwide workforce by ~8%, or about 1,450 positions. The reduction is in line with lower tonnage volumes which were down 3.8% in October and 9.2% in November, respectively, from last year's levels. The workforce reductions, which occurred on Dec. 5, were spread across most of the co's 303 operating locations in North America. They included the elimination of 78 staff positions at CNW's Ann Arbor, Mich., general office; 60 positions at an administrative center in Texas; and a realignment of its area and regional division structure to streamline management. The Dec. 5 workforce reductions will result in an estimated Q4 charge to earnings of ~$7.5 mln, primarily for severance and other payroll-related expenses. The charge for the Dec. 5 workforce reduction is in addition to an earlier-disclosed Q4 charge of $20 mln for costs associated with Con-way Freight's network re-engineering initiative. Dicussing the impairment charge, co says "the based on preliminary estimates, the co expects to record an impairment charge of $30-35 mln to write down the value of its investment in Chic Holdings Ltd., a Shanghai, China-based transportation and logistics co.
4:15PM Altera lowers Q4 revs guidance (ALTR) 23.62 -0.08 : Co announces its mid-quarter update for the fourth quarter of 2008. Co sees Q4 sales down 9 to 12% compared to the Q3 of 2008, down from prior guidance for Q4 of up 1% to down 3% compared to Q3 of 2008 (current consensus is Q4 revs growth of +2.3% over Q3). Co is experiencing slower than anticipated sales across all market segments, with particular weakness in the Computer & Storage and Consumer market segments. Inventory reductions by a broad range of end customers are occurring across all market segments. Fourth quarter gross margin is now expected to be 69% +/- .5%, an increase from prior guidance of 68% +/- .5%. The expected gross margin increase is due to the ongoing cost savings initiatives and expected market segment mix. As a result of additional ongoing cost savings initiatives, the company now expects that fourth quarter operating expense will be in the range of $134-135 mln versus prior guidance of $137-140 mln.
12:31PM Titan Intl reaffirms it could exceed $1 bln in revenue for the year 2008 (TWI) 7.91 +0.44 : Co stated that it should end 2008 with $920 mln to $1 bln in revenue (FY08 rev single analyst est is $1.012 bln). As mentioned on the third quarter conference call, co believes Titan could exceed $1 bln in revenue for the year 2008. Co sees sales revenue goal for 2009 at $1.175 to $1.35 bln. The co says "While a large spread, material cost is expected to be down in the second quarter of 2009, lowering pricing. Material cost for the second half of the year could be more unpredictable and may possibly require higher pricing. "If you were to base this on unit sales, I believe 2009 would show a 20 to 30% growth over 2008," said Taylor. "Titan's group presidents Ron Schildt and Bill Campbell will base the year on these goals, all the while striving to maximize them." Titan's EBITDA goal has been set at $170 to $190 mln for 2009 by Taylor. This goal will require better efficiency at the company's tire facilities, which should happen as a result of the completion of the super giant tire project realignment. Capital expense is also expected to drop after first quarter 2009 due to the completion of the super giant tire project. Taylor has set Titan's goal for positive operating cash flow at over $100 mln in 2009..."
12:28PM KHD Humboldt Wedag announces results of its initial review of economic crisis impacts on its order backlog (KHD) 8.50 +0.53 : Co announces results of its initial review of economic crisis impacts on its order backlog. As mentioned in third-quarter conference call, co says the rapid and dramatic changes in world credit markets and the global recession have had an impact on customers' capital expenditure programs and some have requested variations in their contractual arrangements. Co says "... We have now had an opportunity to evaluate the effects of those changes on our order backlog. Our order backlog at September 30, 2008 was $1.068 billion. As of December 5, 2008 we can confirm that officially cancelled orders amounted to $50.8 million and orders officially postponed by more than one year amount to $18.0 million. We have another $164.2 million of contract value at risk, meaning we have had verbal indications from customers that contract variations or cancellations are a possibility. This is an interim report; there may be further negative impacts of the economic crisis on our backlog..."
7:33AM 3M lowers guidance for FY08 below consensus; issues guidance for FY09 below consensus (MMM) 59.85 : Co issues downside guidance for FY08 (Dec), sees EPS of $5.10-5.15 vs. $5.44 First Call consensus, prior guidance $5.40-5.48. Co issues downside guidance for FY09 (Dec), sees EPS of $4.50-4.95 vs. $5.31 consensus. Given the uncertain duration and depth of the global slowdown, the company estimates full-year 2009 organic volumes to decline in the range of -3% to -7%. In addition, foreign exchange impacts are expected to reduce sales in the range of -6% to -7%.
Showing posts with label MMM. Show all posts
Showing posts with label MMM. Show all posts
Monday, December 8, 2008
Thursday, July 24, 2008
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.
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.
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