Earnings Season Is Back: Jan 11 2010

Positive Guidance

Cirrus Logic Guides Above Estimates
Cirrus Logic (CRUS) said it now expects third quarter revenue of approximately $65.0 million. The company’s previous guidance was revenue of $58.0 million to $62.0 million and the current consensus estimate is revenue of $60.8 million for the quarter ending December 31, 2009.

California Micro Devices Guides Above Estimates
California Micro Devices Corp. (CAMD) said it expects third quarter earnings of approximately $0.02 per share on revenue of $12.5 million to $12.6 million. The company’s previous guidance was for a loss of $0.03 per share to earnings of $0.01 per share on revenue of $10.5 million to $12.5 million and the current consensus estimate is a loss of $0.02 per share on revenue of $11.5 million for the quarter ending December 31, 2009.

QuickLogic Guides Revenue Above Estimates
QuickLogic Corp. (QUIK) said it expects fourth quarter revenue of approximately $4.2 million. The current consensus estimate is revenue of $4.0 million for the quarter ending December 31, 2009.

Phillips-Van Heusen Raises Guidance Above Estimates
Phillips-Van Heusen (PVH) said it expects fourth quarter earnings of $0.52 to $0.54 per share on revenue of $603.0 million to $608.0 million. The company’s previous guidance was earnings of $0.38 to $0.42 per share on revenue of $585.0 million to $595.0 million and the current consensus earnings estimate is $0.44 per share on revenue of $594.1 million for the quarter ending January 31, 2010.

PAREXEL Ups Guidance
PAREXEL International Corp. (PRXL) said it expects second quarter earnings of $0.21 to $0.23 per share on revenue of $280.0 million to $285.0 million. The company’s previous guidance was earnings of $0.19 to $0.21 per share and the current consensus earnings estimate is $0.20 per share on revenue of $276.3 million for the quarter ending December 31, 2009.

Tuesday Morning Ups Guidance
Tuesday Morning Corp. (TUES) said it expects second quarter earnings of $0.40 to $0.43 per share and now expects fiscal 2010 earnings of $0.06 to $0.10 per share. The company’s previous guidance was for fiscal 2010 results to range from a loss of $0.02 per share to earnings of $0.02 per share. The current consensus earnings estimate is $0.29 per share for the quarter ending December 31, 2009 and a loss of $0.09 per share for the year ending June 30, 2010.

Mindray Medical Guides Higher
Mindray Medical International (MR) said it expects 2009 revenue of $624.0 million to $633.0 million. The current consensus estimate is revenue of $621.4 million for the year ending December 31, 2009.

Volcano Guides Above Estimates
Monday, January 11, 2010 8:00:00 AM ET
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Volcano Corp. (VOLC) said it expects 2009 revenue of approximately $228.0 million. The company’s previous guidance was revenue of $218.0 million to $223.0 million and the current consensus estimate is revenue of $220.7 million for the year ending December 31, 2009.

Emergent BioSolutions Guides Revenue Above Estimates
Emergent BioSolutions Inc. (EBS) said it now expects 2009 revenue of approximately $234.0 million. The company’s previous guidance was revenue of $225.0 million to $240.0 million and the current consensus estimate is revenue of $232.8 million for the year ending December 31, 2009. The company also said it expects 2010 revenue of $235.0 million to $255.0 million. The current consensus estimate is revenue of $228.1 million for the year ending December 31, 2010.

Progress Software Updates Guidance with Acquisition
Progress Software Corp. (PRGS) said, including its acquisition of Savvion, it expects first quarter earnings of $0.44 to $0.46 per share on revenue of $125.0 million to $129.0 million. The current consensus earnings estimate is $0.48 per share on revenue of $125.3 million for the quarter ending February 28, 2010. The company also said it expects 2010 earnings of $2.16 to $2.28 per share on revenue of $540.0 million to $550.0 million. The current consensus earnings estimate is $2.20 per share on revenue of $528.0 million for the year ending November 30, 2010.

Delta Apparel Raises Guidance
Delta Apparel Inc (DLA) said it now expects 2010 earnings of $0.95 to $1.10 per share on revenue of $375.0 million to $385.0 million. The company’s previous guidance was earnings of $0.80 to $1.00 per share on revenue of $360.0 million to $380.0 million. There currently are no estimates for the year ending June 30, 2010. The company also said it expects fiscal second quarter earnings of $0.12 to $0.14 per share, excluding a one-time charge of $0.03 per share, on revenue of $91.0 million.

Teleflex Guides Above 2010 Estimates
Teleflex Inc. (TFX) said it expects 2010 earnings of $4.10 to $4.25 per share with revenue in excess of $1.92 billion. The current consensus earnings estimate is $3.99 per share on revenue of $1.91 billion for the year ending December 31, 2010.

Jarden Guides Revenue Above Estimates
Jarden Corp. (JAH) said it expects fourth quarter revenue of approximately $1.35 billion. The current consensus estimate is revenue of $1.32 billion for the quarter ending December 31, 2009.

SciClone Pharmaceuticals Guides Above Estimates
SciClone Pharmaceuticals Inc. (SCLN) said it expects 2009 revenue of approximately $72.4 million. The current consensus estimate is revenue of $72.3 million for the year ending December 31, 2009. The company also said it expects 2010 revenue of $82.0 million to $85.0 million. The current consensus estimate is revenue of $73.6 million for the year ending December 31, 2010.

Inline Guidance
H.J. Heinz Reaffirms
H.J. Heinz Company (HNZ) said it continues to expect fiscal 2010 earnings of $2.72 to $2.82 per share. The current consensus earnings estimate is $2.79 per share for the year ending April 30, 2010.

Einstein Noah Restaurant Guides In-line
Einstein Noah Restaurant Group (BAGL) said it expects fourth quarter earnings of $0.22 to $0.23 per share. The current consensus earnings estimate is $0.23 per share for the quarter ending December 29, 2009.

WD-40 Reaffirms
WD-40 Company (WDFC) said it continues to expect fiscal 2010 earnings of $1.80 to $1.95 per share on revenue of $298.0 million to $318.0 million. The current consensus earnings estimate is $1.92 per share on revenue of $305.4 million for the year ending August 31, 2010.

St. Jude Medical Guides Earnings In-line
St. Jude Medical Inc. (STJ) said it continues to expect fourth quarter earnings of $0.61 to $0.63 per share and expects revenue of approximately $1.203 billion. The current consensus earnings estimate is $0.62 per share on revenue of $1.19 billion for the quarter ending December 31, 2009.

Dress Barn Raises Guidance, but Remains In-line with Estimates
Dress Barn Inc. (DBRN) said it now expects fiscal 2010 earnings of $1.40 to $1.50 per share. The company’s previous guidance was earnings of $1.35 to $1.45 per share and the current consensus earnings estimate is $1.43 per share for the year ending July 31, 2010.

American Medical Systems Raises Guidance; with Earnings Remaining In-line with Estimates
American Medical Systems Holdings, Inc. (AMMD) said it expects fourth quarter earnings of $0.32 to $0.35 per share on revenue of approximately $146.0 million. The company’s previous guidance was earnings of $0.29 to $0.33 per share and the current consensus earnings estimate is $0.33 per share on revenue of $140.2 million for the quarter ending December 31, 2009.

Ceradyne Provides Mixed Guidance for 2009
Ceradyne Inc. (CRDN) said it believes 2009earnings may slightly exceed its previous guidance of $0.60 per share, excluding restructuring charges, but expects revenue of $401.0 million – below its previous guidance range of $410.0 million to $415.0 million. The current consensus estimate is for earnings of $0.57 per share on revenue of $410.5 million for the year ending December 31, 2009. The company said it continues to expect 2010 earnings of $0.60 to $1.05 per share on revenue of $380.0 million to $430.0 million. The current consensus earnings estimate is $0.75 per share on revenue of $391.0 million for the year ending December 31, 2010.

AFC Enterprises Reaffirms
AFC Enterprises Inc. (AFCE) said it continues to expect 2009 earnings to be at the upper-end of $0.65 to $0.69 per share. The current consensus earnings estimate is $0.70 per share for the year ending December 31, 2009.

New York & Company Reaffirms
New York & Company Inc. (NWY) said it continues to expect fourth quarter earnings of $0.04 to $0.06 per share. The current consensus earnings estimate is $0.06 per share for the quarter ending January 31, 2010.

Lumber Liquidators Raises Guidance, but Earnings Remain In-line with Estimates
Lumber Liquidators, Inc. (LL) said it now expects 2009 earnings of $0.95 to $0.97 per share on revenue of approximately $544.0 million. The company’s previous guidance was earnings of $0.90 to $0.95 per share and the current consensus earnings estimate is $0.95 per share on revenue of $542.4 million for the year ending December 31, 2009.

Negative Guidance
Chevron Guides Below Estimates
Chevron Corporation (CVX) said it expects fourth quarter earnings to be below $1.72 per share. The current consensus earnings estimate is $1.73 per share for the quarter ending December 31, 2009.

ATS Medical Guides Below Estimates
ATS Medical Inc. (ATSI) said it expects fourth quarter revenue of $18.4 million to $18.8 million. The current consensus estimate is revenue of $20.9 million for the quarter ending December 31, 2009. The company also said it expects 2010 revenue of $81.6 million to $83.2 million. The current consensus estimate is revenue of $90.5 million for the year ending December 31, 2010.

Electronic Arts Lowers Guidance
Electronic Arts Inc. (ERTS) said it expects third quarter earnings of $0.29 to $0.36 per share on revenue of $1.33 billion to $1.35 billion. The current consensus earnings estimate is $0.56 per share on revenue of $1.42 billion for the quarter ending December 31, 2009. The company said it expects 2010 earnings of $0.40 to $0.55 per share on revenue of $4.125 billion to $4.20 billion. The company’s previous guidance was earnings of $0.70 to $1.00 per share on revenue of $4.20 billion to $4.40 billion and the current consensus earnings estimate is $0.79 per share on revenue of $4.26 billion for the year ending March 31, 2010.

Multi-Fineline Electronix Guides Below Estimates
Multi-Fineline Electronix Inc. (MFLX) said it expects first quarter revenue of approximately $229.0 million and second quarter revenue of $160.0 million to $180.0 million. The current consensus estimate is revenue of $234.0 million for the quarter ending December 31, 2009 and revenue of $210.0 million for the quarter ending March 31, 2010.

Shoe Carnival Guides Below Estimates
Shoe Carnival Inc. (SCVL) said it expects fourth quarter revenue of $168.0 million to $169.0 million. The current consensus estimate is revenue of $169.4 million for the quarter ending January 31, 2010.

Hutchinson Technology Guides Above Estimates
Hutchinson Technology Inc. (HTCH) said it expects first quarter results to be modestly above breakeven with revenue of approximately $108.3 million. The current consensus estimate is a loss of $0.01 per share on revenue of $105.0 million for the quarter ending December 31, 2009.

Cache Provides Mixed Guidance
Cache Inc. (CACH) said it expects fourth quarter earnings of $0.01 to $0.03 per share on revenue of $64.0 million to $65.0 million. The company’s previous guidance was earnings of $0.12 to $0.15 per share on revenue of $62.0 million to $64.0 million and the current consensus earnings estimate is $0.12 per share on revenue of $62.7 million for the quarter ending December 31, 2009.

A.T. Cross Guides Below 2010 Estimates
A.T. Cross (ATX) said it expects fourth quarter earnings of $0.11 to $0.15 per share. The current consensus earnings estimate is $0.11 per share for the quarter ending December 31, 2009. The company also said it expects 2010 earnings of $0.33 to $0.35 per share. The current consensus earnings estimate is $0.40 per share for the year ending December 31, 2010.

Kona Grill to Miss Expectations
Kona Grill Inc. (KONA) said it expects a fourth quarter loss to be slightly below its previous guidance range of $0.16 to $0.11 per share. The current consensus estimate is a loss of $0.14 per share for the quarter ending December 31, 2009.

Zhongpin Guides Below Earnings Estimates for 2010
Zhongpin Inc. (HOGS) said it expects 2010 earnings of $1.49 to $1.64 per share on revenue of $900.0 million to $940.0 million. The current consensus earnings estimate is $1.75 per share on revenue of $930.0 million for the year ending December 31, 2010.