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.

Great Article on Solar players - NanoSolar Inc. et al.

Nanosolar Rides Solar Thin-Film Wave To $300M Round
Last update: 8/27/2008 11:48:07 AM
By Jonathan Shieber
Of DOW JONES NEWSLETTERS

NEW YORK (Dow Jones)--A second wave of venture-backed photovoltaic technologies is poised to make its mark on the growing solar industry, and Nanosolar Inc., which raised more than $300 million in its most recent financing, may be leading the way.
The Palo Alto, Calif., company is using the capital for a massive build-out of its manufacturing capacity in both Palo Alto and Berlin, according to an email from Nanosolar Chief Executive Martin Roscheisen.
"In March of this year we closed a major strategic equity financing as part of which we aligned with several of the world's leading power producers to jointly execute on utility scale solar," Roscheisen wrote.
(This story also appeared in Clean Technology Investor, a newsletter and information service published by Dow Jones & Co.)
Nanosolar will have 430 megawatts of available cells in its San Jose, Calif., plant and another 620 MW in Berlin after the completion of its first phase of construction.
"We have a plan of expanding production at these sites to more than a gigawatt in a subsequent phase," Roscheisen wrote.
Investors in the massive private equity financing include Greenwich, Conn.-based Lone Pine Capital LLC, a hedge fund whose long investment portfolio is worth $8.6 billion, and Paris-based EDF Energies Nouvelles SA (EEN.FR), an independent renewable energy power producer, according to Roscheisen and a previous announcement from EDF.
Sources with knowledge of the investment said additional backers in the round include AES Solar, the $1 billion joint venture of independent power producer AES Corp. (AES), and multibillion-dollar energy buyout investor Riverstone Holdings LLC (AP4.SG). Sources said buyout firm Energy Capital Partners, which owns the San Francisco-based utility scale solar power project developer NextLight Renewable Power LLC, also participated in the financing.
Neither AES Solar nor NextLight returned requests for comment. Energy Capital Partners and Riverstone declined to comment about their involvement in the round. Roscheisen declined to confirm additional investors.
"The financing is basically just a side effect of the strategic partnership conversations we have had based on our focus on solar utility power, the interest of our partners to scale availability from us even more aggressively, and the ready access to capital that they have to help us execute on this," Roscheisen wrote.
Nanosolar's thin-film technology presents an attractive alternative to traditional polysilicon-based solar cells because it uses a variant on the photovoltaic material called copper indium gallium selenide, or CIGS.
Many venture-backed start-up companies have raised millions of dollars to bring CIGS cells to market because they reportedly can convert more sunlight into electricity than other types of thin-film materials. At Nanosolar the company has managed to achieve efficiencies of 14.5% with its process.
Earlier this year the stealthy Roseville, Calif.-based thin-film manufacturer Solyndra Inc. quietly announced that it had signed over $1.2 billion in supply contracts. That company is currently out on the fund-raising trail looking for $350 million in new financing. News of that financing was earlier reported by Greentech Media.
Meanwhile Intel Capital-backed Sulfurcell Solartechnik GmbH, a Berlin-based thin-film manufacturer, has raised $130 million to build out its own capacity, and Santa Clara, Calif.-based Miasole is in the process of wrapping up a $220 million round for its own expansion plans.
At the same time, there are publicly traded makers of CIGS-based solar cells like DayStar Technologies Inc. (DSTI), listed on Nasdaq. It's building a 25-megawatt line in California and has a market capitalization of just $107.8 million. Ascent Solar Technologies Inc. (ASTI), also trading on the Nasdaq, has a market cap of $164 million.
Fanning the flames of investors' desire to back start-up solar thin-film companies is the success of publicly held First Solar Inc. (FSLR).
The Phoenix thin-film solar manufacturer uses a different material composition based on a combination of cadmium and telluride for its cells. As the first thin-film solar to make it to the public markets with a low-cost manufacturing process, First Solar has been rewarded with a $21.8 billion market capitalization.
According to a recent institutional research report by the Stanford Group, First Solar has the lowest cost per watt in the industry. First Solar can manufacture cells at a cost per watt of $1.14, which is less than half that of the average crystalline silicon cost per watt.
Even as the start-ups surge on the strength of new capital, silicon manufacturers also are beginning to diversify into thin-film technologies.
Low-cost silicon photovoltaic manufacturer Suntech Power Holdings Co. (STP) has said that it will build a 50-megawatt thin-film production line in the second half of the year, according to the Stanford Group report, and SunPower Corp. (SPWR) may soon follow Suntech Power's lead, the report said.
"First Solar has made it all too clear by now to everyone - after the usual cycle of disbelief and denial by the legacy competitors - that thin films can be in a different world of cost efficiency relative to wafered silicon and other conventional solar technologies, and that this enables a very profitable and scalable business," Roscheisen wrote.

Earnings - 20th Aug 2008

5:22PM Phillips-Van Heusen beats by $0.01, misses on revs; guides Q3 EPS below consensus, revs below consensus; guides FY09 EPS in-line, revs below consensus (PVH) 36.05 -0.70 : Reports Q2 (Jul) earnings of $0.66 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.65; revenues rose 1.6% year/year to $561 mln vs the $579.9 mln consensus. Co issues downside guidance for Q3, sees EPS of $1.07-1.13 vs. $1.21 consensus; sees Q3 revs of $730-740 mln vs. $749.72 mln consensus. Co issues in-line EPS guidance for FY09, sees EPS of $3.32-3.41 vs. $3.35 consensus; sees FY09 revs of $2.56-2.58 bln vs. $2.59 bln consensus.

4:40PM Limited beats by $0.07, misses on revs; guides Q3 EPS in-line; guides FY09 EPS in-line (LTD) 17.97 -0.16 : Reports Q2 (Jul) earnings of $0.27 per share, excluding non-recurring items, $0.07 better than the First Call consensus of $0.20; reports revs of $2.28 bln vs. First Call Consensus of $2.31 bln. Co issues in-line guidance for Q3, sees EPS of 0.00-0.04 vs. $0.04 consensus. Co issues in-line guidance for FY09, sees EPS of 1.45-1.60 vs. $1.48 consensus.
4:33PM Orsus Xelent Technologies signs two-year master agreement with Xingwang Shidai Commerce (ORS) 1.21 -0.04 : The co announces that through a subsidiary company it has signed a two-year Master Distributorship Agreement with its long time distributor Beijing Xingwang Shidai Commerce. The agreement formally appoints Xingwang as a national level distributor for the handset products produced by Orsus. Under the agreement, Xingwang has agreed that the term of the trade account receivables credit from Orsus to Xingwang is 120 days, which shall apply for all trade account receivables incurred by Xingwang since June 30, 2008. Further, payments of all accounts are jointly guaranteed by Xingwang and government-licensed third-party guarantee company Zhong Hui Guarantee, with which Xingwang has signed a credit guarantee contract for the full amount of all trade accounts receivable for Orsus products that are more than 45 days overdue, up to $300 million RMB, or the equivalent of approximately $43 million.

4:11PM Salesforce.com reports EPS in-line, revs in-line; guides Q3 EPS in-line, revs in-line; guides FY09 EPS in-line, revs in-line (CRM) 65.30 -0.18 : Reports Q2 (Jul) earnings of $0.08 per share, in-line with the First Call consensus of $0.08; revenues rose 48.9% year/year to $263 mln vs the $260.6 mln consensus. Co issues in-line guidance for Q3, sees EPS of $0.08-0.09, excluding the effect of the InStranet acquisition, vs. $0.09 consensus; sees Q3 revs of $273-274 mln vs. $273.15 mln consensus. Co issues in-line guidance for FY09, sees EPS of $0.34-0.35, excluding the effect of the InStranet acquisition, vs. $0.35 consensus; sees FY09 revs of $1.07-1.075 bln vs. $1.07 bln consensus.

4:07PM Gymboree beats by $0.03, reports revs in-line; guides Q3 EPS in-line; reaffirms FY09 EPS (GYMB) 36.57 -0.32 : Reports Q2 (Jul) earnings of $0.27 per share, $0.03 better than the First Call consensus of $0.24; revenues rose 12.7% year/year to $202.8 mln vs the $204.1 mln consensus. Co issues in-line guidance for Q3, sees EPS of $1.02-1.04 vs. $1.04 consensus. Co reaffirms guidance for FY09, sees EPS of $3.15-3.20 vs. $3.20 consensus. Co also expects flat to slightly negative Q3 comparable store sales over the same period of the prior year.

4:06PM Bally Technologies beats by $0.01, beats on revs; guides FY09 EPS in-line (BYI) 31.33 -0.51 : Reports Q4 (Jun) earnings of $0.54 per share, $0.01 better than the First Call consensus of $0.53; revenues rose 22.0% year/year to $247 mln vs the $243.8 mln consensus. Co issues in-line guidance for FY09, sees EPS of $2.10-$2.50 vs. $2.33 consensus. "Reflecting continued strong demand for our products and services across all business lines despite the current economic environment, we are reaffirming our fiscal 2009 earnings per share guidance which represents estimated growth of 14 to 35 percent over fiscal 2008 diluted earnings per share."

4:06PM Hot Topic beats by $0.01, previously reported revs in-line; guides Q3 EPS in-line; guides Q4 (Jan) EPS in-line (HOTT) 6.87 +0.11 : Reports Q2 (Jul) loss of $0.01 per share, $0.01 better than the First Call consensus of ($0.02); previously reported revenues rose 3.2% year/year to $166.8 mln vs the $166.7 mln consensus. HOTT guides Q4 EPS of $0.26-0.29 vs. $0.28 consensus. Co issues in-line guidance for Q3, sees EPS of 0.14-0.17, excluding non-recurring items, vs. $0.16 consensus. Co issues in-line guidance for Q4 (Jan), sees EPS of $0.26-0.29, excluding non-recurring items, vs. $0.28 consensus. Total company comparable store sales declined 0.9% for the second quarter of fiscal 2008.

4:02PM Synopsys beats by $0.05, beats on revs; guides Q4 EPS below consensus, revs in-line; guides FY08 EPS above consensus, revs in-line (SNPS) 24.14 +0.84 : Reports Q3 (Jul) earnings of $0.44 per share, $0.05 better than the First Call consensus of $0.39; revenues rose 13.2% year/year to $344.1 mln vs the $339.6 mln consensus. Co issues mixed guidance for Q4, sees EPS of $0.36-0.39 vs. $0.40 consensus; sees Q4 revs of $348-356 mln vs. $354.35 mln consensus. Co issues mixed guidance for FY08, sees EPS of $1.65-1.68 vs. $1.63 consensus; sees FY08 revs of $1.332-1.34 bln vs. $1.33 bln consensus.

4:01PM Citi Trends beats by $0.03, reports revs in-line; reaffirms FY09 EPS guidance (CTRN) 18.45 -2.22 : Reports Q2 (Jul) earnings of $0.20 per share, $0.03 better than the First Call consensus of $0.17; revenues rose 19.5% year/year to $115.7 mln vs the $115.7 mln consensus. Co reaffirms guidance for FY09, sees EPS of $1.10-1.15 vs. $1.25 consensus. This guidance is based upon an anticipated 2008 comparable store sales increase of 1% to 2%.

8:27AM Ross Stores reports EPS in-line, beats on revs; guides Q3 EPS in-line; guides Q4 EPS in-line (ROST) 38.36 : Reports Q2 (Jul) earnings of $0.54 per share, in-line with the First Call consensus of $0.54; revenues rose 13.6% year/year to $1.64 bln vs the $1.61 bln consensus. Co issues in-line guidance for Q3, sees EPS of $0.42-0.44 vs. $0.43 consensus. Co issues in-line guidance for Q4 (Jan), sees EPS of $0.78-0.81 vs. $0.80 consensus. Co said, Looking ahead to the important back-to-school and holiday periods, we believe it is prudent to remain defensively positioned based on the uncertain macro economic and retail environments, which no longer have the benefit of the tax rebate checks. As a result, we are maintaining our original target of comparable store sales gains of 2% to 3% for both the third and fourth quarters."

8:02AM Mentor Graphics beats by $0.10, beats on revs; guides Q3 EPS in-line; reaffirms FY09 EPS guidance, revs guidance (MENT) 10.44 : Reports Q2 (Jun) loss of $0.02 per share, excluding non-recurring items, $0.10 better than the First Call consensus of ($0.12); revenues fell 13.1% year/year to $182.4 mln vs the $174.5 mln consensus. Co issues in-line guidance for Q3, sees EPS of $0.15-0.20, excluding non-recurring items, vs. $0.20 consensus. Co reaffirms guidance for FY09, sees EPS of $1.05-1.10 vs. $1.02 consensus; sees FY09 revs of $915 mln vs. $899.35 mln consensus.

7:52AM E-House China reports EPS in-line, beats on revs; guides Q3 revs below consensus (EJ) 8.43 : Reports Q2 (Jun) earnings of $0.14 per share, in-line with the First Call consensus of $0.14; revenues rose 79.2% year/year to $43 mln vs the $41 mln consensus. Co issues downside guidance for Q3, sees Q3 revs of $43-47 mln vs. $58.65 mln consensus. Co said, "Looking ahead to the third quarter of 2008, we expect conditions within China's real estate market to remain challenging. Compared to the second quarter, real estate transaction volumes for July and August in most leading cities will likely show bigger year-on-year decline. This is because July and August of 2007 saw unusually strong transaction activities at the peak of the real estate market boom. The 2008 Beijing Olympic Games may have also caused a temporary slowdown in real estate transactions. However, we are seeing that many developers have adjusted their sales strategy in preparation for the peak season that traditionally begins in September, by placing a sharp focus on increasing sales volumes and cash flows. This trend, combined with our continued belief that the long-term fundamental demand for real estate in China remains strong, provides compelling reasons for transaction volumes to rebound starting in September."

7:02AM BJ's Wholesale beats by $0.01; guides FY09 EPS in-line; announces additional $200 mln buyback (BJ) 40.68 : Reports Q2 (Jul) earnings of $0.58 per share, excluding a $0.03 gain, $0.01 better than the First Call consensus of $0.57; revenues rose 17.6% year/year to $2.7 bln vs the $2.67 bln consensus. Co issues in-line guidance for FY09, sees EPS of $2.10-2.20 vs. $2.14 consensus, prior guidance $2.04-2.14. The Company also announced today that its board of directors has authorized an additional $200 million for share repurchases.

5:38AM Suntech Power beats by $0.09, beats on revs; guides Q3 revs above consensus; guides FY08 revs in-line (STP) 37.13 : Reports Q2 (Jun) earnings of $0.41 per share, excluding non-recurring items, $0.09 better than the First Call consensus of $0.32; revenues rose 51.3% year/year to $480.2 mln vs the $439.3 mln consensus. Non-GAAP gross margin increased to 24.1% compared to 20.3% for Q207. Co issues upside guidance for Q3, sees Q3 revs of $570.0-580.0 mln vs. $542.65 mln consensus. GAAP consolidated gross margin in Q3 is expected to be in the range fo 22% to 23%. Co issues in-line guidance for FY08, sees FY08 revs of $2.05-2.15 bln (previously $1.9-2.1 bln) vs. $2.06 bln consensus. Co increases FY08 PV product shipment target from 530MW to approx 550MW. Suntech targets to reach 1GW of installed PV cell production capacity by YE08.