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 - 18th Feb 2009

6:40PM Exactech beats by $0.06, reports revs in-line; guides Q1 EPS above consensus, revs in-line; guides FY09 EPS above consensus, revs above consensus (EXAC) 12.68 -0.42 : Reports Q4 (Dec) earnings of $0.26 per share, excluding non-recurring items, $0.06 better than the First Call consensus of $0.20; revenues rose 21.8% year/year to $40.3 mln vs the $39.9 mln consensus. Co issues upside EPS guidance for Q1, sees EPS of $0.24-0.26, excluding non-recurring items, vs. $0.20 consensus; sees Q1 revs of $42-45 mln vs. $43.77 mln consensus. Co issues upside guidance for FY09, sees EPS of $1.06-1.14, excluding non-recurring items, vs. $0.97 consensus; sees FY09 revs of $184-194 mln vs. $179.73 mln consensus.

5:06PM Oceaneering Intl reports EPS in-line, revs in-line; guides Q1 EPS below consensus; guides FY09 EPS in-line (OII) 30.49 -0.12 : Reports Q4 (Dec) earnings of $0.93 per share, in-line with the First Call consensus of $0.93; revenues rose 9.2% year/year to $525.7 mln vs the $521.5 mln consensus. Co issues downside guidance for Q1, sees EPS of $0.60-0.70 vs. $0.76 consensus. Co issues in-line guidance for FY09, sees EPS of $3.00-3.60 vs. $3.48 consensus.

5:02PM Baidu.com misses by $0.01, reports revs in-line; guides Q1 revs in-line (BIDU): Reports Q4 (Dec) earnings of $1.31 per share, excluding non-recurring items, $0.01 worse than the First Call consensus of $1.32. Co issues in-line guidance for Q1, sees Q1 revs of $114-117 mln vs. $117.66 mln consensus. The number of active online marketing customers during the fourth quarter was over 197,000, an increase of 1.5% from the previous quarter.

5:02PM NCI Building Sys updates Q1 outlook, sees Q1 EPS loss of $0.40-0.45 per diluted share vs ($0.06) First Call consensus (NCS) 10.39 -0.11 : Co announced today that as a result of the continued economic downturn and rapid decline in steel prices, the aggregate volume of tonnage shipped in the 2009 fiscal first quarter by the Buildings and Components groups was 49% lower than in the Q4 of fiscal 2008. Consequently, overall tonnage volume declined 45% sequentially, compared to the 40% previously expected, and was down 40% compared to last year's first quarter. Historically, seasonal factors have resulted in an approximate 25% decline in first quarter volume compared to fourth quarter levels. Revenues are expected to be ~$260 million for the 2009 first quarter. Margin compression caused by significantly lower-than-expected utilization rates and high inventory costs is expected to result in a net loss for the period in the range of $0.40-0.45 per diluted share vs ($0.06) First Call consensus, exclusive of special charges. Co expects that the margin impact from higher inventory costs will be mitigated by the middle of the second quarter. Additionally, steel prices have stabilized at levels that should promote increased utilization of steel as compared to other traditional building materials. In fact, after declining for seven consecutive months, NCI's Buildings group's backlog stabilized at $302 million in December and January.

4:32PM Nutrisystem misses by $0.04, misses on revs (NTRI) 12.42 -0.48 : Reports Q4 (Dec) earnings of $0.16 per share, excluding a $0.27 impairment loss, $0.04 worse than the First Call consensus of $0.20; revenues fell 16.5% year/year to $114.6 mln vs the $121.1 mln consensus. For Q1 of 2009, the co ests Adjusted EBITDA will be between $19 and $23 mln, not comparable to consensus; co defines Adjusted EBITDA as income from continuing operations excluding non-cash employee compensation, other expense, equity and impairment loss, interest, income taxes and depreciation and amortization. Co says, "Current full year visibility, during a period fraught with consumer uncertainty and rising unemployment countered by the potential impact of various stimulus programs, is very limited. With this lack of visibility, we will not offer full year guidance at this time. However, with the flexibility of our eCommerce model, our expanded product line and the depth and experience of our management team, I remain confident that we will emerge from this period a stronger co."

4:21PM Hewlett-Packard reports EPS in-line, misses on revs; guides Q2 EPS below consensus, revs below consensus; guides FY09 EPS in-line, revs below consensus (HPQ) 34.08 -0.26 : Reports Q1 (Jan) earnings of $0.93 per share, excluding non-recurring items, in-line with the First Call consensus of $0.93; revenues rose 1.1% year/year to $28.8 bln vs the $31.93 bln consensus. Co issues downside guidance for Q2, sees EPS of $0.84-0.85, excluding non-recurring items, vs. $0.89 consensus; sees Q2 revs down 2-3%, equates to $27.4-27.7 bln vs. $30.95 bln consensus. Co issues mixed guidance for FY09, sees EPS of $3.76-3.88 vs. $3.77 consensus; sees FY09 revs down 2-5% year/year, equates to $112.45-117.3 bln vs. $126.52 bln consensus. Revenue grew 11% in the Americas to $12.4 billion. Revenue declined 3% in Europe, the Middle East and Africa and 11% in Asia Pacific to $12.0 billion and $4.4 billion, respectively.

4:19PM Advance Auto beats by $0.14, beats on revs (AAP) 32.63 +0.49 : Reports Q4 (Dec) earnings of $0.51 per share, ex-items, $0.14 better than the First Call consensus of $0.37; revenues rose 8.0% year/year to $1.19 bln vs the $1.15 bln consensus. For 2009, co expects 105 new stores and capex of $180-$200 mln. Also for fiscal 2009, the company assumes that each 1% increase in comparable store sales from the company's fiscal 2008 52 week EPS results of $2.65 adds approximately $0.07 in EPS. In addition, a 10 basis point improvement in operating margin is expected to add approximately $0.03 in EPS.

4:16PM priceline.com beats by $0.24, beats on revs; guides Q1 EPS above consensus, revs above consensus (PCLN) 68.74 -0.13 : Reports Q4 (Dec) earnings of $1.29 per share, excluding non-recurring items, $0.24 better than the First Call consensus of $1.05; revenues rose 21.2% year/year to $406 mln vs the $377.8 mln consensus. Co issuesupside guidance for Q1, sees EPS of $0.85-0.95, excluding non-recurring items, vs. $0.81 consensus; sees Q1 revs growth YoY of 5-10%, which equates to ~$423.3-443.5 mln vs. $412.64 mln consensus.

12:35PM HJ Heinz reaffirms FY09 EPS guidance of $2.87-2.91 vs $2.89 First Call consensus (HNZ) 32.70 -0.30 : Co reaffirms FY09 EPS outlook of $2.87-2.91 vs $2.89 First Call consensus at Annual Consumer Analyst Group. "We expect to deliver Heinz's key financial targets for Fiscal 2009: Organic sales growth (combined volume and net price) of 6%; EPS in a range of $2.87-2.91, a growth rate of 9-11%; and operating free cash flow (cash from operations less capital expenditures net of proceeds from disposal of PP&E) of around $850 mln."

8:49AM Altria reaffirms FY09 EPS will grow to a range of $1.70-$1.75 (vs $1.72 consensus ) (MO) 15.57 : Co reaffirms its FY09 EPS of $1.70-$1.75 (vs $1.72 consensus). This forecast reflects higher tobacco excise taxes, investment spending on U.S. Smokeless Tobacco Company's brands, ongoing cost reduction initiatives, increased pension expenses and no share repurchases.

8:19AM Inverness Medical beats by $0.07, beats on revs (IMA) 25.08 : Reports Q4 (Dec) earnings of $0.66 per share, excluding non-recurring items, $0.07 better than the First Call consensus of $0.59; revenues rose 59.5% year/year to $459.3 mln vs the $451.5 mln consensus. The revenue increase was primarily due to $114.0 mln of incremental revenue provided by their Health Management segment, along with $34.6 mln of incremental revenue contributed by their other recently acquired businesses and organic growth which, on a currency adjusted basis, was approximately 10.7% in their Professional Diagnostics segment.

7:17AM Genpact reports Q4 adjusted EPS of $0.76 (no estimates) vs $0.50 year ago; revs increased 26% y/y to $1.04 bln (G) 8.21 : "Based on our current view of our markets and feedback from our clients, we expect revenue growth of 10% to 15%, from a base of $1.04 billion in 2008, and adjusted operating income margin of 16% to 17%, compared to 17.1% in 2008. We are still very optimistic about the opportunities for Genpact, both with existing clients and potential new ones, but we are taking a cautious approach to the current and anticipated environment."

7:04AM Gentiva Health Svcs beats by $0.04, beats on revs; guides FY09 EPS above consensus, revs in-line (GTIV) 26.82 : Reports Q4 (Dec) earnings of $0.43 per share,$0.04 better than the First Call consensus of $0.39; revenues rose 19.3% year/year to $282.9 mln vs the $273 mln consensus. Co issues guidance for FY09, sees EPS of $1.72-1.80 up from $1.62-1.72 vs. $1.65 consensus; sees FY09 revs of $1.14-1.18 bln - up from 1.12-1.17 bln vs. $1.15 bln consensus. Gentiva's 2009 outlook represents an increase in diluted earnings per share of 20% to 30% when compared with 2008 pro forma financial results, which reflect the Company's performance as if the CareCentrix divestiture had occurred at the beginning of fiscal 2008. The 2009 outlook excludes the impact of special items, restructuring or non-recurring charges and any future acquisitions.

6:40AM Suntech Power misses by $0.01, beats on revs; guides Q1 revs in-line (STP)9.14 : Reports Q4 (Dec) loss of $0.27 per share, excluding non-recurring items, $0.01 worse than the First Call consensus of ($0.26); revenues rose 4.3% year/year to $414.4 mln vs the $379.6 mln consensus. Co issues in-line guidance for Q1, sees Q1 revs of $340-380 mln, assuming an exchange rate of $1.28 US dollars to the Euro in Q109, vs. $370.48 mln consensus. Suntech expects full-year 2009 shipments of more than 800MW. Suntech intends to hold PV cell production capacity at 1GW in 2009 until credit market visibility improves. Suntech expects capital expenditures of approximately $100 mln in 2009. The majority of 2009 capital expenditures will be utilized to retrofit existing production capacity to the high efficiency Pluto technology and the completion of the thin film facility.

Earnings - 23rd July 2008 (2)

6:08PM Alcon beats by $0.14, beats on revs; raises FY08 EPS above consensus, raises revs above consensus (ACL) 159.85 -5.21 : Reports Q2 (Jun) earnings of $1.88 per share, $0.14 better than the First Call consensus of $1.74; revenues rose 17.9% year/year to $1.74 bln vs the $1.68 bln consensus. Co raises guidance for FY08, sees EPS of $6.48-6.54 vs. $6.44 consensus, up from $6.24-6.30; raises FY08 revs of $6.46-6.51 bln vs. $6.4 bln consensus, up from $6.4-6.5 bln. Co says the increase is primarily due to the continuation of a more favorable currency environment than originally expected.

6:04PM Kirby Corp beats by $0.01, beats on revs; guides Q3 EPS above consensus; raises FY08 EPS in-line (KEX) 46.01 +0.99 : Reports Q2 (Jun) earnings of $0.74 per share, $0.01 better than the First Call consensus of $0.73; revenues rose 20.9% year/year to $348.3 mln vs the $324.1 mln consensus. Co issues upside guidance for Q3, sees EPS of $0.75-0.80 vs. $0.74 consensus. Co raises FY EPS guidance in-line; co sees EPS of $2.90-3.00 vs. $2.88 consensus. Co is also increasing its capital spending guidance range for 2008 to $165-175 mln, which includes ~$90 mln for the construction of new tank barges and towboats."

5:19PM Agnico-Eagle Mines misses by $0.07, misses on revs (AEM) 63.90 -4.02 : Reports Q2 (Jun) earnings of $0.08 per share, excluding non-recurring items, $0.07 worse than the First Call consensus of $0.15; revenues rose 16.3% year/year to $92.8 mln vs the $127.4 mln consensus. The reduction in net income was almost entirely due to the 56% decrease in the realized price of zinc, combined with a 7% decrease in zinc sales due to lower production, compared to the second quarter of 2007. The decline in zinc production during the quarter is due to the focus of mining on the lower mine at LaRonde where the ore is more gold/copper rich and has lower zinc grades.

5:19PM Noble Corp beats by $0.09, misses on revs (NE) 52.76 -3.21 : Reports Q2 (Jun) earnings of $1.40 per share, $0.09 better than the First Call consensus of $1.31; revenues rose 12.0% year/year to $812.9 mln vs the $834.9 mln consensus. Looking ahead, our industry faces a number of challenges. Raw materials costs, such as the price of steel, continue to climb. Added to this are increases in labor costs and the fluctuation in foreign exchange.

5:17PM Cabot beats by $0.14, beats on revs (CBT) 25.39 +0.64 : Reports Q3 (Jun) earnings of $0.52 per share, excluding non-recurring items, $0.14 better than the First Call consensus of $0.38; revenues rose 29.4% year/year to $840 mln vs the $801.5 mln consensus. Co says, "We remain solidly committed to our strategy and long term financial targets. Our Company is well positioned to meet our commitments to improve earnings and create shareholder value. We continue to aggressively manage the impact of increasing feedstock costs through price increases but we will continue to experience negative effects in Q4 due to substantial hydrocarbon price increases in June and July. We are planning to eliminate most of the time lag in our rubber blacks supply contracts over the coming 18 to 24 months and have implemented monthly pricing adjustments where feasible. Demand remains solid across most of our businesses with our leading positions in emerging markets providing strong support. We are managing our new business efforts with renewed discipline, including taking concrete steps to work more closely with lead users and key partners and terminating under-performing projects where appropriate. Our commitment to high return investments in energy recovery projects and to attractive growth opportunities in emerging regions continues."

5:03PM Baidu.com beats by $0.13, beats on revs; guides Q3 revs in-line (BIDU) 288.70 -3.66 : Reports Q2 (Jun) earnings of $1.11 per share, $0.13 better than the First Call consensus of $0.98; revenues rose 124.2% year/year to $117 mln vs the $112.5 mln consensus. The number of active online marketing customers during the second quarter grew to over 181,000, an increase of 12.4 % from the previous quarter. Co issues in-line guidance for Q3, sees Q3 revs of $132-136 mln vs. $135.26 mln consensus.

4:33PM IRobot beats by $0.11, beats on revs; guides FY08 revs above consensus (IRBT) 13.33 +0.31 : Reports Q2 (Jun) loss of $0.18 per share, $0.11 better than the First Call consensus of ($0.29); revenues rose 42.9% year/year to $67.2 mln vs the $51.7 mln consensus. Co issues upside guidance for FY08, sees FY08 revs of $295-305 mln vs. $292.3 mln consensus.

4:29PM Core Labs beats by $0.02, beats on revs; guides Q3 EPS in-line, revs in-line; guides FY08 EPS above consensus, revs above consensus (CLB) 118.80 -5.75 : Reports Q2 (Jun) earnings of $1.51 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $1.49; revenues rose 17.4% year/year to $197.7 mln vs the $190.3 mln consensus. Co issues in-line guidance for Q3, sees EPS of $1.55-1.61 vs. $1.61 consensus; sees Q3 revs of $200-210 mln vs. $200.91 mln consensus. Co issues upside guidance for FY08, sees EPS of $6.05-6.15 vs. $6.17 consensus; sees FY08 revs of $784-795 mln vs. $780.87 mln consensus.

4:22PM Varian Medical beats by $0.12, beats on revs; guides FY08 EPS above consensus, revs above consensus (VAR) 53.28 +0.82 : Reports Q3 (Jun) earnings of $0.58 per share, $0.12 better than the First Call consensus of $0.46; revenues rose 21.1% year/year to $513 mln vs the $480.3 mln consensus. Co issues upside guidance for FY08, sees EPS growth of ~22% YoY (which calculates to ~$2.23 vs. $2.11 consensus); sees FY08 revs growth of ~17-18% (which calculates to ~$2.08-2.096 bln vs. $2.05 bln consensus). "At this early stage, we estimate that revenues for fiscal 2009 could grow by about 12 percent and that earnings per diluted share should grow at a slightly faster rate than revenues."

4:15PM F5 Networks beats by $0.01, beats on revs; guides Q4 revs in-line (FFIV) 30.98 -1.43 : Reports Q3 (Jun) GAAP earnings of $0.23 per share, $0.01 better than the First Call consensus of $0.22; revenues rose 25.1% year/year to $165.6 mln vs the $161.4 mln consensus. Co issues guidance for Q4, sees EPS of $0.19-0.20, includes a $5.3 charge, may not be comparable to $0.24 consensus; sees Q4 revs of $172-174 mln vs. $169.08 mln consensus.

4:12PM Omniture misses by $0.01, reports revs in-line; guides Q3 EPS below consensus, revs in-line; guides FY08 EPS in-line, revs in-line (OMTR) 20.97 -0.14 : Reports Q2 (Jun) earnings of $0.10 per share, excluding non-recurring items, $0.01 worse than the First Call consensus of $0.11; revenues rose 123.6% year/year to $74.9 mln vs the $74.3 mln consensus. Co issues mixed guidance for Q3, sees EPS of $0.10-0.11 vs. $0.12 consensus; sees Q3 revs of $78.5-80.5 vs. $79.82 mln consensus. Co issues in-line guidance for FY08, sees EPS of $0.41-0.46 vs. $0.45 consensus; sees FY08 revs of $308-313 vs. $310.56 mln consensus.

4:11PM Airgas reports EPS in-line, beats on revs; guides Q2 EPS in-line; tightening Y09 guidance range (ARG) 59.18 -0.53 : Reports Q1 (Jun) earnings of $0.81 per share, in-line with the First Call consensus of $0.81; revenues rose 22.0% year/year to $1.12 bln vs the $1.08 bln consensus. Co issues in-line guidance for Q2, sees EPS of $0.82-0.84 vs. $0.82 consensus. Co tightening guidance range for FY09, sees EPS of $3.30-3.40, compared to previous guidance of $3.24-3.40, vs. $3.39 consensus.

4:09PM Terex beats by $0.32, beats on revs; guides FY08 EPS in-line, revs in-line (TEX) 50.08 +0.62 : Reports Q2 (Jun) earnings of $2.32 per share, $0.32 better than the First Call consensus of $2.00; revenues rose 25.3% year/year to $2.94 bln vs the $2.76 bln consensus. Co issues in-line guidance for FY08, sees EPS of $6.85-7.15 vs. $6.92 consensus; sees FY08 revs of $10.5-10.9 bln vs. $10.5 bln consensus. Co says, "We expect strong infrastructure and commodity demand trends for our Cranes and MPM segments to continue, which will drive a higher portion of our net sales and income for the balance of 2008."

4:08PM MEMC Elec misses by $0.08, misses on revs; guides Q3 revs in-line; guides FY08 EPS in-line, revs below consensus; increases stock repurchase program by $500 mln (WFR) 53.80 +2.17 : Reports Q2 (Jun) earnings of $0.92 per share, $0.08 worse than the First Call consensus of $1.00; revenues rose 6.0% year/year to $531.4 mln vs the $557.9 mln consensus. Co issues in-line guidance for Q3, sees Q3 revs of $560-620 mln vs. $616.34 mln consensus. Co issues mixed guidance for FY08, sees EPS of $4.00-4.30 vs. $4.30 consensus; sees FY08 revs of $2.250-2.350 bln vs. $2.36 bln consensus... Co also announces the Board authorizes $500 mln increase in share repurchase program.


4:06PM Chipotle Mexican Grill misses by $0.01, reports revs in-line (CMG) 83.80 +2.14 : Reports Q2 (Jun) earnings of $0.74 per share, $0.01 worse than the First Call consensus of $0.75; revenues rose 24.3% year/year to $340.8 mln vs the $343.9 mln consensus. Comparable restaurant sales increased 7.1%. Restaurant level operating margins decreased 80 basis points to 22.4% . "We continue to expect 130 to 140 new restaurants openings in 2008, and though we face significant economic challenges in the short term, we continue to believe we can grow diluted earnings per share over the long-term at an average annual rate of at least 25%." Co reiterates FY08 comp restaurant sales increases in the mid single digits; 130-140 new restaurant openings; and non-cash stock compensation expense of approximately $12.5 to $13.0 million

4:05PM Tractor Supply beats by $0.05, beats on revs; guides FY08 EPS in-line, revs in-line (TSCO) 33.60 +2.08 : Reports Q2 (Jun) earnings of $1.24 per share, $0.05 better than the First Call consensus of $1.19; revenues rose 13.6% year/year to $898.3 mln vs the $888.7 mln consensus. Co issues in-line guidance for FY08, sees EPS of $2.49-2.55 vs. $2.50 consensus; and narrows its FY08 revs to $2.98-3.03 bln from $2.98-3.04 bln vs. $2.97 bln consensus. The co confirms that same-store sales for the year will be approx flat to 2%. The firm says the co anticipates opening approximately 88 to 93 stores for the full year and now expects there will be slightly fewer selling weeks from new stores in 2008.

4:04PM Nutrisystem beats by $0.06, beats on revs; guides Q3 revs below consensus; reaffirms FY08 revs guidance (NTRI) 17.58 -0.38 : Reports Q2 (Jun) earnings of $0.71 per share, $0.06 better than the First Call consensus of $0.65; revenues fell 9.1% year/year to $194 mln vs the $185.3 mln consensus. Co issues downside guidance for Q3, sees Q3 revs of $160-170 mln vs. $180.55 mln consensus; co sees adjusted EBITDA of $25-30 mln. Co reaffirms guidance for FY08, sees FY08 revs of $700-720 mln vs. $716.91 mln consensus; co sees adjusted EBITDA of $110-120 mln.

8:40AM Exelon beats by $0.11, reports revs in-line; reaffirms FY08 EPS guidance (EXC) 84.58 : Reports Q2 (Jun) earnings of $1.13 per share, excluding non-recurring items, $0.11 better than the First Call consensus of $1.02; revenues rose 2.7% year/year to $4.62 bln vs the $4.6 bln consensus. Co reaffirms guidance for FY08, sees EPS of $4.00-4.40, excluding non-recurring items, vs. $4.35 consensus.

8:38AM ConocoPhillips beats by $0.05, beats on revs (COP) 84.31 : Reports Q2 (Jun) earnings of $3.50 per share, $0.05 better than the First Call consensus of $3.45; co reports revs of $71.4 bln vs $47.4 bln in yr ago period. "During the second quarter, we produced 2.2 million BOE per day, including an estimated 0.4 million BOE per day from our LUKOIL Investment segment. In the downstream business, our worldwide refining crude oil capacity utilization rate improved to 93 percent... Looking ahead to the third quarter, we anticipate the company's E&P segment production will be similar to the second quarter. We expect full-year 2008 production will be consistent with our operating plan. We anticipate exploration expenses to be approximately $375 million for the quarter."

8:32AM Genzyme beats by $0.01, beats on revs; reaffirms FY08 EPS guidance (GENZ) 79.30 : Reports Q2 (Jun) earnings of $0.98 per share, $0.01 better than the First Call consensus of $0.97; revenues rose 25.5% year/year to $1.17 bln vs the $1.13 bln consensus. Co reaffirms guidance for FY08, sees EPS of $3.90 vs. $3.94 consensus.