Earnings- 6th May 2009(1)

4:09PM Cisco Systems beats by $0.05, beats on revs (CSCO) 19.61 -0.02 : Reports Q3 (Apr) earnings of $0.30 per share, excluding non-recurring items, $0.05 better than the First Call consensus of $0.25; revenues fell 16.6% year/year to $8.16 bln vs the $8.07 bln consensus. Cash and cash equivalents and investments were $33.6 billion at the end of the third quarter of fiscal 2009, compared with $26.2 billion at the end of fiscal 2008, and compared with $29.5 billion at the end of the second quarter of fiscal 2009. Co said, "Cisco delivered solid financial performance despite a challenging global economy and period of evolving market dynamics... These results demonstrate our ability to drive operational excellence and manage profitability across varying economic cycles. We will use this period of market transition to align and optimize resources, make strategic investments, move into market adjacencies and enhance relationships with our customers. As we exit the quarter with a compelling financial position and an innovation engine from both a products and business model perspective, we believe we are well-positioned for the eventual economic recovery."

4:09PM EnerNOC beats by $0.09, beats on revs; guides Q2 EPS in-line, revs in-line; guides FY09 EPS above consensus, revs in-line (ENOC) 18.63 -0.27 : Reports Q1 (Mar) loss of $0.63 per share, $0.09 better than the First Call consensus of ($0.72); revenues fell 1.1% year/year to $18.4 mln vs the $18.1 mln consensus. Co issues in-line guidance for Q2, sees EPS of ($0.37)-($0.30) vs. ($0.35) consensus; sees Q2 revs of $38-40 mln vs. $37.59 mln consensus. Co issues mixed guidance for FY09, sees EPS of ($1.04)-($0.93) vs. ($1.12) consensus; sees FY09 revs of $160-172 mln vs. $163.21 mln consensus.

4:04PM Blackboard beats by $0.02, beats on revs; guides Q2 EPS below consensus, revs in-line; guides FY09 EPS below consensus, revs in-line (BBBB) 32.93 -0.10 : Reports Q1 (Mar) earnings of $0.27 per share, $0.02 better than the First Call consensus of $0.25. Co issues mixed guidance for Q2, sees EPS of $0.20-0.26 vs. $0.35 consensus; sees Q2 revs of $87.5-90.5 mln vs. $90.48 mln consensus. Co issues mixed guidance for FY09, sees EPS of $1.21-1.38 vs. $1.44 consensus; sees FY09 revs of $365.5-374.5 mln vs. $368.46 mln consensus.

4:03PM MercadoLibre beats by $0.02, misses on revs (MELI) 28.94 +1.05 : Reports Q1 (Mar) earnings of $0.12 per share, $0.02 better than the First Call consensus of $0.10; revenues rose 12.2% year/year to $32.3 mln vs the $32.9 mln consensus.

4:02PM Andersons beats by $0.33, beats on revs (ANDE) 17.50 -0.14 : Reports Q1 (Mar) earnings of $0.27 per share, $0.33 better than the First Call consensus of ($0.06); revenues fell 2.2% year/year to $697 mln vs the $579.1 mln consensus. "In the past we provided an earnings range with our first quarter release, with updates as deemed necessary. After much consideration, however, we have decided to discontinue our practice of giving earnings guidance at this time. In addition to the impact of the unprecedented pressures facing the overall economy, numerous other factors will have a bearing on our full year outcome: weather patterns during the agricultural planting and growing season within our region, volatility of nutrient and energy prices, timing of railcar sales, and the performance of our equity investments, which include the ethanol production plants and Lansing Trade Group."

8:38AM XTO Energy beats by $0.15, beats on revs (XTO) 37.91 : Reports Q1 (Mar) earnings of $0.92 per share, excluding non-recurring items, $0.15 better than the First Call consensus of $0.77; revenues rose 29.3% year/year to $2.16 bln vs the $2.12 bln consensus. Co said, "Our quarterly results reflect strong old-fashioned performance for XTO Energy.. Our production volumes exceeded expectations, with sequential growth of 3%. The Company's cash flow margins expanded above $6 per Mcfe, as cash costs decreased. We strengthened the balance sheet with debt reduction of about $1.9 billion."

8:20AM US Cellular beats by $0.44, reports revs in-line (USM) 35.03 : Reports Q1 (Mar) earnings of $0.97 per share, $0.44 better than the First Call consensus of $0.53; revenues rose 1.4% year/year to $1.05 bln vs the $1.05 bln consensus. Co said, "We had solid gains in postpay customers, who are the cornerstone of our strategy... These postpay customers make up 95 percent of U.S. Cellular's retail base, and they are buying more of our smart phones and touchscreen phones, and using more of our data services. As a result, we had strong gains in data revenues and increased service revenues despite a loss in roaming revenues resulting from the acquisition of Alltel Corporation by Verizon Wireless. Also, U.S. Cellular has had 14 consecutive quarters of year-over-year ARPU growth. And, we kept churn low--a sign that our customer satisfaction strategy continues to be effective."

8:11AM Lincoln Educational Services beats by $0.16, beats on revs; guides FY09 above consensus (LINC) 14.49 : Reports Q1 (Mar) earnings of $0.22 per share, $0.16 better than the First Call consensus of $0.06; revenues rose 41.2% year/year to $118.6 mln vs the $112.3 mln consensus. Co issues upside guidance for FY09, sees EPS of $1.25-1.30 vs. $0.95 consensus; sees FY09 revs of $505-515 mln vs. $482.04 mln consensus. "The increase in average student population resulted in operating margin increasing to 9.0% of revenue vs 1.5% in 1Q08... We expect this momentum to continue in Q2 as we began the quarter with approximately 4,500 more students on a same school basis than we had on April 1, 2008. The investments we have made in our business are producing strong results, which we expect to continue throughout the year."

8:03AM Parker Drilling beats by $0.03, beats on revs (PKD) 3.24 : Reports Q1 (Mar) earnings of $0.05 per share, ex-items, $0.03 better than the First Call consensus of $0.02; revenues rose 0.3% year/year to $173.9 mln vs the $156.6 mln consensus. Co states, "The industry outlook for 2009 remains subdued, and will continue to impact the near-term prospects for the Company. Nevertheless, I expect our operating performance to improve as the year progresses, as we gain the benefits of a leaner cost structure; our strong technical, operational and safety leadership and our employee commitment to customer service."

8:03AM Blackstone beats by $0.03, misses on revs (BX) 12.16 : Reports Q1 (Mar) loss of $0.07 per share, excluding non-recurring items, $0.03 better than the First Call consensus of ($0.10); revenues fell 31.2% year/year to $47.1 mln vs the $64.3 mln consensus. Management and Advisory Fees were $344.6 mln, up from $320.8 mln in 1Q08 and down from $389.2 mln in 4Q08. Fee earning assets under management were approx flat at $92.2 bln vs $92.9 bln at March 31, 2008 and up from $91.0 bln at Dec 31, 2008.

7:47AM Diana Shipping beats by $0.01, beats on revs (DSX) 17.20 : Reports Q1 (Mar) earnings of $0.47 per share, $0.01 better than the First Call consensus of $0.46; revenues fell 20.5% year/year to $62.7 mln vs the $60.7 mln consensus.  Co says, "In a period of continuing economic uncertainty, Diana Shipping delivered profitable results for the 2009 first quarter by following our time-tested strategies. We have continued to manage our fleet for maximum revenue visibility, we have cultivated relationships with many of the world's leading charterers, and we have maintained a solid balance sheet with a minimal degree of leverage. As a result, we continue to believe that our Company is well-positioned to take advantage of the many opportunities that should arise out of the current turbulence in the dry bulk marketplace. We will continue to employ our strategic discipline, strong financial resources and long-term perspective to create value from such opportunities for the benefit of our shareholders."

7:32AM Transocean beats by $0.24, reports revs in-line (RIG) 72.97 : Reports Q1 (Mar) earnings of $3.75 per share, excluding non-recurring items, $0.24 better than the First Call consensus of $3.51; revenues rose 0.3% year/year to $3.12 bln vs the $3.1 bln consensus. First quarter 2009 results were exclude certain net charges, after tax, totaling $264 million, or $0.82 per diluted share.

7:32AM Almost Family beats by $0.08, beats on revs (AFAM) 26.73 : Reports Q1 (Mar) earnings of $0.68 per share, $0.08 better than the First Call consensus of $0.60; revenues rose 77.4% year/year to $69.2 mln vs the $63 mln consensus. Co says, "We're very pleased to kick 2009 off with such a great start. The strength of our strategic plan continues to be evident in our performance. Our investment in our Senior Advocacy mission which includes improved clinical programs and a commitment to credentialing our care giving staff combined with our investment in the expansion of our marketing staff and efforts have led us to another quarter of double-digit organic admissions growth. We plan to continue our efforts to build on these great results over the balance of the year."

7:27AM Cooper Tire beats by $0.11, beats on revs (CTB) 9.10 : Reports Q1 (Mar) loss of $0.36 per share, $0.11 better than the First Call consensus of ($0.47); revenues rose 18.9% year/year to $679.3 mln vs the $595.7 mln consensus. Co said, "There have been several recent signs of stabilization in tire demand, but the near-term outlook is still pressured by the macroeconomic environment. Raw materials prices are difficult to forecast, but we do not see a return to the extreme price highs of last year. Commodity prices are likely to stabilize during 2009 and then begin to increase as demand for raw materials increases."

7:03AM Quicksilver Resrcs beats by $0.07, reports revs in-line (KWK) 8.86 : Reports Q1 (Mar) earnings of $0.16 per share, excluding non-recurring items, $0.07 better than the First Call consensus of $0.09; revenues rose 18.0% year/year to $185.9 mln vs the $184.4 mln consensus. For Q109, average daily production was approximately 332 mln cubic feet of natural gas equivalent (MMcfe) per day compared to approx 211 MMcfe per day for the same period in 2008, an increase of approx 57%. Total production for Q109 was approx 29.8 bln cubic feet of natural gas equivalent (Bcfe) compared to approximately 19.2 Bcfe for Q108. The 2009 production volumes were comprised of approx 73% natural gas, approx 24% natural gas liquids and approx 3% crude oil and condensate. Increased activities at the co's Lake Arlington and Alliance projects in the northern portion of its Fort Worth Basin acreage resulted in increased production of dry gas. Sales of natural gas, NGLs and crude oil increased approx 16% to $183.6 mln in Q109 as compared to $158.4 mln in the 2008 quarter. The increase reflects a 57% increase in equivalent daily production volumes, primarily due to increased production volumes from the Fort Worth Basin in Texas, that more than offset an approximate 25% decrease in the average realized price per Mcfe.

6:55AM Devon Energy beats by $0.20, beats on revs (DVN) 54.48 : Reports Q1 (Mar) earnings of $0.48 per share, excluding non-recurring items, $0.20 better than the First Call consensus of $0.28; revenues fell 31.8% year/year to $2.03 bln vs the $1.84 bln consensus.

6:52AM Foster Wheeler misses by $0.09, misses on revs (FWLT) 24.04 : Reports Q1 (Mar) earnings of $0.59 per share, excluding non-recurring items, $0.09 worse than the First Call consensus of $0.68; revenues fell 29.6% year/year to $1.26 bln vs the $1.51 bln consensus. Co's backlog decreased to $4.91 bln from $8.95 bln 1Q08. Co says, "In 1Q09, we booked the largest single contract in terms of man-hours in the company's history - for engineering, procurement and construction management of a new oil refinery in India, did not contribute materially to the co's performance in the period. FWLT's net income in 1Q09 was lower than that of the average quarter of 2008 due to a decline in EBITDA in both of our business groups caused by a combination of factors. Non-operating items, mainly unfavorable currency translation in our Global Engineering and Construction Group, amounted to approximately $29 mln relative to the average quarter of 2008. Additionally, the Global E&C Group executed lower volumes of work and experienced unfavorable timing and mix of contracts, and volume-related under-absorption of costs relative to the average quarter of 2008. Our Global Power Group experienced lower volumes of work executed. Finally, our net income for 1Q09 was unfavorably impacted by an effective tax rate that was higher than the average quarter of 2008."

6:35AM Petrohawk Energy reports EPS in-line, beats on revs (HK) 25.16 : Reports Q1 (Mar) earnings of $0.02 per share, excluding non-recurring items, in-line with the First Call consensus of $0.02; revenues rose 22.6% year/year to $263.5 mln vs the $247.4 mln consensus. Petrohawk's production for the first quarter averaged 412 mln cubic feet equivalent per day (Mmcfe/d), a 14% increase over fourth quarter 2008 and a 58% increase over the same period one year ago. Total production for the first quarter was 37.1 bln cubic feet of natural gas equivalent (Bcfe), 93% of which was natural gas. Based on its increased capital budget and the positive performance of its drilling operations year to date, HK is increasing its previously stated guidance for 2009 average daily production to between 435 and 445 Mmcfe/d, a 44% increase over 2008. Second quarter 2009 production is now expected to average between 425 and 435 Mmcfe/d. HK gained $2.28 per Mcf from hedging, bringing realized natural gas prices to $6.64 per Mcf. The co also gained $5.51 per barrel from its hedging program during the quarter, bringing realized oil prices to $43.61 per barrel.

6:03AM Quanta Services beats by $0.01, misses on revs; guides Q2 EPS below consensus, revs below consensus (PWR) 24.06 : Reports Q1 (Mar) earnings of $0.11 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.10; revenues fell 12.5% year/year to $738.5 mln vs the $796 mln consensus. Co issuesdownside guidance for Q2, sees EPS of $0.14-0.15 vs. $0.22 consensus; sees Q2 revs of $850-890 mln vs. $970.87 mln consensus.

5:14AM Rex Energy reports Q109 results (REXX) 4.73 : Reports Q1 (Mar) earnings of $0.06 per share, excludes items, $0.13 better than the First Call consensus of ($0.07); revenues increased 5% year/year to $17.18 mln vs the $12.23 mln consensus.

1:51AM Delta Petroleum misses by $0.03, beats on revs (DPTR) 3.13 : Reports Q1 (Mar) loss of $0.25 per share, $0.03 worse than the First Call consensus of ($0.22); revenues fell 57.6% year/year to $27.4 mln vs the $26 mln consensus. For Q109, co reports production of 6.32 bln cubic feet equivalents (Bcfe), an increase of 18% when compared with the Q108. Roger Parker, Chairman and CEO stated, "Delta's financial results for the first quarter continued to reflect depressed commodity prices. However, numerous steps have been taken to reposition the Company for the current industry environment. During the first quarter we laid down our last operating drilling rig on our Piceance Basin properties in order to significantly reduce 2009 drilling capital expenditures. Additional cost control initiatives implemented at the end of the quarter include a more than one-third reduction in personnel and a 20% salary reduction for executive officers, directors and certain members of senior management. Other general and administrative expenses have been reduced and should continue to decline during the balance of the year. Benefits from our cost-cutting efforts should be evident in the Company's second quarter financial results."

Earnings - 19th Feb 2009

4:16PM Career Education beats by $0.18, reports revs in-line (CECO) 19.66 -2.15 : Reports Q4 (Dec) earnings of $0.38 per share, $0.18 better than the First Call consensus of $0.20; revenues fell 5.2% year/year to $431.8 mln vs the $435.5 mln consensus. Total student population was up 1% from 2007 to 98,000 students, Total online population was up 14% from 2007 to 36,300. Co says, "2008 was a year of progress for our organization and I am proud of our results. We exceeded our 2008 earnings and cash flow objectives while executing on our fundamental strategy of positioning the company to deliver our previously communicated 2010 milestones. We entered 2009 in a very strong financial position and will continue to invest in and improve our operating model with a heightened emphasis on generating greater revenue growth."

4:15PM Sup Energy Svcs beats by $0.10, beats on revs (SPN) 14.98 +0.31 : Reports Q4 (Dec) earnings of $1.09 per share, $0.10 better than the First Call consensus of $0.99; revenues rose 18.8% year/year to $491.8 mln vs the $482.1 mln consensus. Excluding the items impacting general and administrative expenses and earnings from equity-method investments, and applying the new effective income tax rate of 35.25%, fourth quarter adjusted net income was $85.9 million, or $1.10 adjusted diluted earnings per share. "In response to changing market conditions, our 2009 capital expenditures budget is $272 million, a 40% reduction as compared with $454 million in 2008. Our capital expenditures plan can be adjusted based on market factors. Despite anticipated lower activity in domestic land markets, we believe we can maintain market share for production-related services, given our investments in new coiled tubing and cased hole wireline equipment during the past two years."

4:09PM Red Robin Gourmet beats by $0.10, beats on revs (RRGB) 13.16 +0.16 : Reports Q4 (Dec) earnings of $0.43 per share, excluding $0.05 of charges for asset impairment, $0.10 better than the First Call consensus of $0.33; revenues rose 8.1% year/year to $198.6 mln vs the $196.3 mln consensus. The Company currently expects that traffic will remain negative in fiscal year 2009. In addition to the general macro economic pressures, the extent of the traffic declines may also be influenced by prior-year marketing activities, which create more difficult comparisons during certain periods. The Company also expects certain costs, such as minimum wage increases and select commodity cost increases, to continue to put pressure on restaurant-level profitability. Based on these factors, the Company currently anticipates that without any menu price increases, restaurant-level operating margins could decline by 50 to 100 basis points during fiscal year 2009, even after considering the benefit from reduced national advertising contributions and other cost reduction activities.

4:09PM Century Aluminum misses by $0.07, reports revs in-line (CENX) 2.87 -0.30 : Reports Q4 (Dec) loss of $0.54 per share, excluding non-recurring items, $0.07 worse thanthe First Call consensus of ($0.47); revenues fell 6.9% year/year to $402.2 mln vs the $402.9 mln consensus. Co says, "We continue to believe the factors supporting the long-term growth of aluminum demand remain in place. We expect that Century's improved liquidity and streamlined cost position will enable us to weather the current global financial crisis and prepare the co for renewed profitable growth once aluminum markets stabilize and recover. We have further options to enhance both our cost position and liquidity, and will implement them as appropriate to protect the long-term value of the co."

4:04PM Wright Medical beats by $0.10, reports revs in-line; guides Q1 EPS above consensus, revs below consensus; lowers FY09 guidance (WMGI) : Reports Q4 (Dec) earnings of $0.31 per share, excluding non-recurring items, $0.10 better than the First Call consensus of $0.21; revenues rose 16.4% year/year to $120.1 mln vs the $119.8 mln consensus. Co issues mixed guidance for Q1, sees EPS of $0.17-0.19 vs. $0.16 consensus; sees Q1 revs of $120-123 mln vs. $128.04 mln consensus. Co issues mixed guidance for FY09, sees EPS of $0.85-0.92 vs. $0.75 consensus (down from prior guidance of $0.96-1.02); sees FY09 revs of $500-510 mln vs. $515.11 mln consensus (down from prior guidance of $510-520 mln)

9:03AM Copa Holdings beats by $0.08, beats on revs (CPA) 29.49 : Reports Q4 (Dec) earnings of $1.20 per share, $0.08 better than the First Call consensus of $1.12; revenues rose 21.6% year/year to $346.1 mln vs the $339.8 mln consensus.

8:51AM Apache misses by $0.44, misses on revs (APA) 67.09 : Reports Q4 (Dec) earnings of $0.82 per share, excluding non-recurring items, $0.44 worse than the First Call consensus of $1.26; revenues fell 35.8% year/year to $1.94 bln vs the $2.22 bln consensus. Co says, "With a number of development projects coming on line in the first half of 2009, we are projecting production growth of 6 to 14% in 2009, depending on capital availability. We are striving to keep our discretionary spending in line with 2009 cash flow to retain our financial flexibility." In 2008, production declined 5% to 534,000 barrels of oil equivalent per day as a result of the June 3 pipeline explosion and fire at APA's Varanus Island hub offshore Western Australia as well as the impact of two hurricanes in the Gulf of Mexico. Had those events not occurred, 2008 production would have increased 2%. APA produced 1.6 bln cubic feet (Bcf) of natural gas and 265,000 barrels of liquid hydrocarbons per day in 2008, compared with 1.8 Bcf and 262,000 barrels per day in 2007. In Q4, Apache produced 1.5 Bcf of gas per day and 262,000 barrels of liquid hydrocarbons per day. Apache replaced 122% of production in 2008, including 118% through drilling.

8:39AM XTO Energy misses by $0.10, misses on revs (XTO) 34.36 : Reports Q4 (Dec) earnings of $0.68 per share, $0.10 worse than the First Call consensus of $0.78; revenues rose 23.3% year/year to $1.96 bln vs the $2.06 bln consensus. Fourth quarter daily gas production averaged 2.17 billion cubic feet (Bcf), up 30% from fourth quarter 2007 daily production of 1.67 Bcf. Daily oil production for the fourth quarter was 63.5 thousand barrels, a 30% increase from the fourth quarter 2007 level of 48.8 thousand barrels. During the fourth quarter, natural gas liquids production was 15.4 thousand barrels per day, a 7% increase from the fourth quarter 2007 rate of 14.5 thousand barrels per day. "Looking ahead, we have hedged 80% of projected production volumes at an equivalent price of about $10.70 per Mcfe to protect our financial returns in 2009. Given these commodity hedges and even with the current price environment, we anticipate another record year of cash flow generation. Our capital budget of $3.2 billion is designed to deliver efficient growth of 14% for the year, while building the infrastructure needed for the future." The Company is targeting annual production growth of 14% for 2009.

8:36AM Goldcorp beats by $0.01, misses on revs (GG) 32.56 : Reports Q4 (Dec) earnings of $0.12 per share, $0.01 better than the First Call consensus of $0.11; revenues fell 10.4% year/year to $609 mln vs the $626.9 mln consensus.

8:31AM Gamestop narrows JanQ guidance to high end; guides FY09 above consensus (GME) 24.87 : GameStop is narrowing its previously announced Q4 (Jan) EPS guidance to the high-end of the previous range. EPS is now expected to range from $1.33-1.34 vs consensus of $1.33. For the first time in the company's history, quarterly sales exceeded $3 bln as total sales were $3.5 bln vs consensus of $3.46 bln. Co expects to outperform the retail sector again in FY09 despite the global recession. Co projects 2009 growth as follows: Revs up 10-12% which computes to $9.68-9.86 bln vs consensus of $9.67 bln. Co expects EPS to rise 18-22%, which computes to approx $2.83-2.92 vs consensus of $2.77.

7:37AM Pride Intl beats by $0.08, misses on revs (PDE) 15.78 : Reports Q4 (Dec) earnings of $1.13 per share, excluding non-recurring items, $0.08 better than the First Call consensus of $1.05; revenues rose 28.9% year/year to $621.6 mln vs the $630.6 mln consensus. "Pride International is well-positioned to successfully operate in this more difficult offshore business climate. Our revenue backlog, currently $8.6 billion, excluding performance bonus opportunities, is expected to provide annual revenues of between $1.5 and $2.0 billion for each of the next four years. In addition, our capital structure remains strong, and we have only nominal debt maturities of approximately $30 million in each of the next three years. With our business transformation nearly complete, we will continue positioning the company as a unique offshore drilling choice for investors with an increasing emphasis in deepwater." Although the urgency by some customers to contract deepwater rigs has diminished in early 2009, primarily due to the difficult global economic environment, which has contributed to the abrupt decline in crude oil prices since mid 2008, deepwater activity is expected to remain healthy.

7:34AM Diana Shipping reports EPS in-line, beats on revs (DSX) 13.63 : Reports Q4 (Dec) earnings of $0.72 per share, in-line with the First Call consensus of $0.72; revenues rose 43.1% year/year to $84.3 mln vs the $81.9 mln consensus. Co attributes increase in revenues to an increase in prevailing time charter rates and the increase in operating days due to the enlargement of the Company's fleet. "In a challenging economic environment, Diana Shipping achieved solid growth in revenues and earnings for the fourth quarter and full year 2008. While business conditions remain unsettled, we are well-positioned to operate our business successfully and to seize upon opportunities that may emerge in the coming year. We have cultivated and expanded our relationships with some of the strongest charterers in the industry. Our balance sheet is healthy and not over-leveraged. And our young, efficient fleet provides a significant competitive advantage. We believe the current dislocations in the dry bulk marketplace will offer many opportunities for companies with good revenue visibility, strong capital and liquidity, and management teams with a disciplined approach to managing risk and creating value. We fully intend to take advantage of those opportunities for the long-term benefit of our shareholders."

7:33AM Noble Energy beats by $0.12 (NBL) 48.64 : Reports Q4 (Dec) earnings of $0.91 per share, excluding non-recurring items, $0.12 better than the First Call consensus of $0.79; revenues fell 37.8% year/year to $573 mln.

7:03AM Conns raises Q4 guidance to a range of $0.66-$0.68 (vs $0.57 consensus), from previous range of $0.53-$0.58 (CONN) 14.05 : Co announces it expects to report diluted EPS, excluding potential fair value and goodwill adjustments, in a range of $0.66-$0.68 (vs $0.57 consensus), which is up from previous range of $0.53-$0.58. This strong performance in the current quarter was driven by a 22.3% increase in net sales, on a 12.5% same store sales gain, as product margins improved as compared to the quarter ended October 31, 2008, and expense leverage improved on the strong sales gains. Driven by the continued volatility in the financial markets, the co expects to record an additional non-cash decrease in the fair value of its interests in securitized assets for the quarter ended January 31, 2009, though the decrease is not expected to be as large as the decrease recorded in the quarter ended October 31, 2008. The co reported that the credit portfolio recovery is progressing very well after experiencing the negative impacts of Hurricanes Gustav and Ike, with the portfolio performing in-line with its expectations.

6:36AM Barnes Group beats by $0.08, misses on revs; guides FY09 EPS in-line (B)10.29 : Reports Q4 (Dec) earnings of $0.19 per share, excluding non-recurring items, $0.08 better than the First Call consensus of $0.11; revenues fell 25.1% year/year to $265.4 mln vs the $282.2 mln consensus. Co issues in-line guidance for FY09, sees EPS of $1.20-1.50 vs. $1.36 consensus. Co says, "Our focus for 2009 is on maximizing cash flow generation by aggressively managing our working capital and improving operating performance in a significantly slower demand environment. We will continue to carefully fund lean enterprise activities and seek opportunities to leverage existing capabilities to meet the needs of our customers and position our businesses for long-term sustainable growth. We believe that our diversified portfolio of businesses, strong balance sheet, and our recent cost-saving actions position the co to manage through these challenging economic times."

6:13AM Hornbeck Offshore beats by $0.26, beats on revs; guides FY09 EPS below consensus (HOS) 14.01 : Reports Q4 (Dec) earnings of $1.31 per share, $0.26 better thanthe First Call consensus of $1.05; revenues rose 19.7% year/year to $121 mln vs the $114.9 mln consensus. Co issues downside guidance for FY09, sees EPS of $3.50-$3.97 vs. $4.06 consensus. Primary reasons for the increase in revenues, operating income, net income and EBITDA were the incremental contribution of vessels added to the co's fleet in 2008, continued favorable market conditions for new generation offshore supply vessels and a full-quarter contribution from the HOS Achiever, the co's first multi-purpose support vessel that was placed in service in October 2008.

6:04AM Newmont Mining beats by $0.01, misses on revs (NEM) 42.76 : Reports Q4 (Dec) earnings of $0.26 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.25; revenues fell 4.8% year/year to $1.34 bln vs the $1.42 bln consensus. Co said, "We are pleased with the strong financial results for the fourth quarter and for 2008. These results, combined with the operating results previously announced, continue to demonstrate our commitment to consistently delivering on our plans. In the first part of 2009, we secured $1.7 billion in additional liquidity to improve our financial flexibility and to purchase the remaining 33.33% interest in Boddington, thereby giving Newmont full access to one of the largest gold projects in the world. We are excited about Boddington's potential and look forward to capitalizing on this unique opportunity. As we turn our attention to 2009, our focus remains on operational and project execution, as well as disciplined capital investments."

1:46AM O'Reilly Auto beats by $0.07, beats on revs; guides Q1 EPS in-line; guides FY09 EPS above consensus (ORLY) 27.74 : Reports Q4 (Dec) earnings of $0.37 per share, excluding acquisition-related charges, $0.07 better than the First Call consensus of $0.30; revenues rose 84.5% year/year to $1.11 bln vs the $1.05 bln consensus. Co issues in-line guidance for Q1, sees EPS of 0.36-0.40, excluding non-recurring items, vs. $0.40 consensus. Co issues upside guidance for FY09, sees EPS of $1.83-1.87, excluding non-recurring items, vs. $1.79 consensus. Comparable store sales for O'Reilly stores open at least one year increased 6.2% and 2.6% for the fourth quarter and year ended December 31, 2008, respectively. Comparable store sales for CSK stores open at least one year increased 0.8% for the fourth quarter ended December 31, 2008, and decreased 1.7% for the portion of CSK's sales in 2008 since the July 11 acquisition. Consolidated comparable store sales for stores open at least one year increased 4.0% and 1.5% for the fourth quarter and year ended December 31, 2008, respectively. Co forecasts consolidated comparable store sales for Q109 and FY09 to increase 2.0-4.0% and 2.0-4.0%, respectively.

12:38AM McCormick reaffirms FY09 EPS guidance (MKC) 30.80 : Co reaffirms guidance for FY09 (Nov), sees EPS of $2.24-2.28, includes impact of charges form restructuring program which are estimated to be $0.05 in FY09 and may not be comparable to $2.30 First Call consensus. On a comparable basis, excluding the impact of restructuring charges and unusual items, this is an increase of 7 to 9% versus 2008.

12:33AM Navios Maritime misses by $0.07, beats on revs (NM) 3.10 : Reports Q4 (Dec) earnings of $0.03 per share, excluding non-recurring items, $0.07 worse than the First Call consensus of $0.10; revenues fell 30.9% year/year to $213.2 mln vs the $210.3 mln consensus.

Earnings - 22nd July 2008 (2)

4:59PM Zimmer Hldgs misses by $0.04, reports revs in-line; lowers FY08 EPS and revs guidance (ZMH) 70.88 +0.52 : Reports Q2 (Jun) earnings of $0.99 per share, $0.04 worse than the First Call consensus of $1.03; revenues rose 11.3% year/year to $1.08 bln vs the $1.07 bln consensus. Co lowers guidance for FY08, sees EPS of $4.05-4.10, down from previous guidance of $4.20-4.25, vs. $4.19 consensus; sees FY08 revs growth of 8.5-9% (which calculates to ~$4.23-4.25 bln vs. $4.28 bln consensus), down from previous guidacne of 10-11%.

4:59PM Broadcom on call sees Q3 revs of $1.25-1.3 bln vs $1.16 bln First Call consensus (BRCM) 27.64 +0.20 :

4:30PM Axsys Technologies beats by $0.06, beats on revs; guides FY08 EPS above consensus, revs above consensus (AXYS) 63.32 -1.43 : Reports Q2 (Jun) earnings of $0.54 per share, $0.06 better than the First Call consensus of $0.48; revenues rose 40.4% year/year to $60.3 mln vs the $56.2 mln consensus. Co issues upside guidance for FY08, sees EPS of $2.09-2.15, previous $1.88-1.92, vs. $1.92 consensus; sees FY08 revs of $237-241 mln, previous $224-228 mln, vs. $227.91 mln consensus.

4:23PM ADC Telecom lowers FY08 revenue guidance, sees Q3 revs below Q2 revs; lowers FY08 EPS (ADCT) 13.37 +0.24 : Co lowers FY08 revs guidance to $1.50-1.52 bln vs $1.53 bln consensus, down from $1.52-1.54 bln prior guidance. Co sees Q3 revs 3-5% below Q2 revw, which equates to ~$383.2-391.3 vs $403.9 mln consensus. Co lowers FY08 GAAP EPS to $1.12-1.20, excludes $0.94 in charges, vs $1.33 consensus. Co says due to the change in sales volume and product mix, ADC's gross margins in 2008 are now expected to be around 34% for the second half and around 35% for the full year compared to previous guidance of 36% for the full year... says "the updated financial outlook primarily reflects lower sales of copper and fiber connectivity products in the United States resulting mainly from customers' recent budget reviews and ordering patterns, as well as the resulting effects on original equipment manufacturers' demand for ADC products. "We remain firmly committed to managing our business strategically for the long term, but the inherent short-lead time nature of our business sometimes results in quarter-to-quarter market-related movements, up or down, in our sales expectations."

4:22PM PPD Inc. beats by $0.02, beats on revs (PPDI) 40.95 : Reports Q2 (Jun) earnings of $0.41 per share, $0.02 better than the First Call consensus of $0.39; revenues rose 16.3% year/year to $407 mln vs the $374.2 mln consensus. "I am very pleased with our financial and operating performance for the quarter," said Fred Eshelman, chief executive officer of PPDI. "The management team made substantial progress on various internal initiatives, as evidenced by the expansion in our development segment operating margin, robust cash flow, improved DSO and solid earnings." Eshelman added, "We believe the market for CRO services is strong, even though our new authorizations came in lower than expected for the quarter. Request-for-proposal volume remains high, and we will continue to focus our efforts on operational excellence and sales execution."

4:18PM VMware reports EPS in-line, revs in-line; guides Q3 & FY08 revs below consensus (VMW) 37.97 +1.03 : Reports Q2 (Jun) earnings of $0.23 per share, in-line with the First Call consensus of $0.23; revenues rose 53.7% year/year to $456.1 mln vs the $458.6 mln consensus. Q2 non-GAAP operating margins 24.6% vs. the 24.4% Street expectation and 24.3% in Q1. Co issues downside guidance for Q3, sees Q3 revs of $462-468 vs. $497.34 mln consensus. VMW says 2008 revenues are targeted to grow approximately 42-45% compared to 2007 vs consensus ests of ~48% (42-45% growth equates to $1.88-1.92 bln vs $1.96 bln consensus). VMW says Q3 GAAP operating margin is targeted to be between 11-13% (no ests).

4:17PM Washington Mutual misses by $2.29 (WM) 5.86 +0.38 : Reports Q2 (Jun) loss of $3.34 per share, excluding $3.24 related to the co's capital issuance in April, $2.29 worse than the First Call consensus of ($1.05). Co increased its loan loss reserves by $3.74 bln to $8.46 bln. The quarter's provision was $5.9 bln compared with $2.2 bln of net charge-offs. The co now expects the remaining cumulative losses in its residential mortgage portfolios to be toward the upper end of the range it disclosed in April, and continues to expect 2008 to be the peak year for provisioning. Co now expects to realize annualized cost savings of approx $1 bln which will contribute to improved pretax, pre-provision earnings. The co's tangible equity to total tangible assets capital ratio increased during Q2 to 7.79% from 6.40% in Q1, resulting in approx $7 bln of capital in excess of its targeted 5.50%. The increase reflects the effects of the $7.2 bln capital raise, the reduction of the co's balance sheet by $10 bln and the loss for the quarter. The co had over $40 bln of readily available liquidity at quarter end.

4:17PM Norfolk Southern beats by $0.13, beats on revs (NSC) 65.69 +2.15 : Reports Q2 (Jun) earnings of $1.18 per share, $0.13 better than the First Call consensus of $1.05; revenues rose 16.3% year/year to $2.77 bln vs the $2.65 bln consensus. "Norfolk Southern delivered record financial results during the quarter, reporting continuing strength in our coal, agriculture, and metals markets," said Norfolk Southern CEO Wick Moorman. "Looking ahead, our franchise should continue to benefit from a broad and balanced customer base as well as from rail's inherent advantages over other transportation modes - safety and reliability, fuel efficiency, and environmental sustainability."

4:11PM E*TRADE misses by $0.05, beats on revs (ETFC) 4.05 : Reports Q2 (Jun) loss of $0.19 per share, $0.05 worse than the First Call consensus of ($0.14); revenues fell 15.9% year/year to $342.8 mln vs the $332.5 mln consensus. "While economic conditions are still challenging, we consider loan delinquency trends to be encouraging." Total delinquencies increased by 9 percent or $111 mln during the quarter, representing the slowest increase in four quarters. Home equity loan delinquencies increased by 4% or $25 mln during the quarter, down from an increase of 8 percent in the prior quarter. Provision for loan losses increased by $85 mln quarter over quarter, driven primarily by an increase in home equity-related charge-offs. Total allowance for loan losses increased to $636 mln, as provision exceeded charge-offs by $70 mln during the quarter. The Company increased its allowance for loan losses across all three categories of its loan portfolio. "While the current economic environment may impede our expectations to return to profitability from continuing operations this year, we are executing well on our Turnaround Plan and continue to make progress toward returning to profitability."

4:06PM Intuitive Surgical beats by $0.10, beats on revs (ISRG) : Reports Q2 (Jun) earnings of $1.28 per share, $0.10 better than the First Call consensus of $1.18; revenues rose 56.3% year/year to $219.2 mln vs the $208.6 mln consensus. Intuitive ended the second quarter of 2008 with cash, cash equivalents and investments of $740 million, up $104 million from December 31, 2007.

4:04PM Edwards Lifesci beats by $0.02, beats on revs; guides Q3 EPS in-line; guides FY08 EPS above consensus, revs above consensus (EW) 65.25 +0.10 : Reports Q2 (Jun) earnings of $0.66 per share, $0.02 better than the First Call consensus of $0.64; revenues rose 20.2% year/year to $327.6 mln vs the $311.9 mln consensus. Co issues in-line guidance for Q3, sees EPS of $0.53-0.57 vs. $0.56 consensus. Co issues upside guidance for FY08, sees EPS of $2.50-2.58 vs. $2.50 consensus; sees FY08 revs of $1.24-1.28 bln vs. $1.23 bln consensus. "... all of our franchises reported double-digit sales growth. This quarter was also highlighted by the strong uptake of our Edwards SAPIEN valve in Europe where procedural success continues to be impressive. Our base heart valve business, which excludes transcatheter heart valve sales, performed well this quarter, driven by strong double-digit international sales growth and improved U.S. performance..."

8:38AM Avery Dennison beats by $0.03, beats on revs; guides FY08 EPS below consensus (AVY) 45.24 : Reports Q2 (Jun) earnings of $1.03 per share, excluding non-recurring items, $0.03 better than the First Call consensus of $1.00; revenues rose 20.0% year/year to $1.83 bln vs the $1.8 bln consensus. Co issues downside guidance for FY08, sees EPS of $3.75-3.95, excluding non-recurring items, compared to previous guidance of $4.00-4.30, vs. $4.03 consensus. Co is reducing its Y08 guidance primarily due to a significant increase in inflation expectations coupled with greater economic weakness. To help offset the impact of inflation, co accelerated productivity efforts and is raising prices. However, expectations for raw material inflation in Y08 have risen to approx $110 mln, representing a 60% increase since April. Because the majority of the benefit from pricing actions is expected to materialize later in the year, raw material inflation will significantly outpace price increases realized in the full year. Co's earnings expectations reflect revenue flat to slightly down on an organic basis for Y08. Slowing in European and Asian markets is expected, in addition to the slower U.S. market.

8:37AM AK Steel beats by $0.14, beats on revs (AKS) 51.06 : Reports Q2 (Jun) earnings of $1.29 per share, $0.14 better than the First Call consensus of $1.15; revenues rose 19.6% year/year to $2.24 bln vs the $2.10 bln consensus. Co says the yr-over-yr operating profit improvement was primarily due to higher spot market shipments and overall higher selling prices in all markets, coupled with continued strong cost controls. Co does not provide specific EPS guidance for Q3, but says it expects shipments of 1.55 mln tons which will be lower than Q2 due to seasonally lower automotive shipments and a planned five-day outage at its Middletown Works hot strip mill. The co also expects higher raw material and energy costs in Q3. Average per-ton selling prices should rise 10% sequentially in Q3.

8:36AM XTO Energy beats by $0.04, beats on revs (XTO) 57.98 : Reports Q2 (Jun) earnings of $1.09 per share, excluding non-recurring items, $0.04 better than the First Call consensus of $1.05; revenues rose 45.7% year/year to $1.94 bln vs the $1.85 bln consensus. Second quarter 2008 daily gas production averaged 1.80 Bcf, up 35% from second quarter 2007 daily production of 1.33 Bcf. Daily oil production for the second quarter was 51.3 thousand barrels, an 11% increase from the second quarter 2007 level of 46.1 thousand barrels. During the quarter, natural gas liquids production was 15.6 thousand barrels per day, a 3% increase from the prior year quarter rate of 15.2 thousand barrels per day.

8:32AM USG Corp beats by $0.09, beats on revs (USG) 26.02 : Reports Q2 (Jun) loss of $0.27 per share, excluding non-recurring items, $0.09 better than the First Call consensus of ($0.36); revenues fell 11.2% year/year to $1.25 bln vs the $1.21 bln consensus. Co said, "The steep decline in the U.S. housing market, combined with unprecedented increases in the cost of key raw materials and energy, resulted in losses in our core wallboard business... Our other businesses are performing reasonably well, despite their own challenging market conditions."

8:11AM PACCAR beats by $0.02, beats on revs (PCAR) 42.72 : Reports Q2 (Jun) earnings of $0.86 per share, $0.02 better than the First Call consensus of $0.84; revenues rose 10.3% year/year to $3.78 bln vs the $3.72 bln consensus.

8:08AM Wabtec beats by $0.04, beats on revs; guides FY08 EPS above consensus, revs in-line (WAB) 53.40 : Reports Q2 (Jun) earnings of $0.69 per share, $0.04 better than the First Call consensus of $0.65. Co raises guidance for FY08, sees EPS of $2.65 vs. $2.61 consensus, from $2.55 previously; sees FY08 revs of $1.52-1.55 bln vs. $1.55 bln consensus, from high-single-digits previously. "Although we remain cautious about the economic outlook in the U.S. and abroad, we are confident in our growth prospects for the rest of 2008 and beyond."