Earnings Review 08-09-11

The day's earnings review includes a heavy list of EPS reporters. The day's headliners were clearly AOL, Dish Network, Beazer Homes and Ralcorp. Walt Disney reported its earnings after the close of trading. The reports highlighted here produced mostly negative results, which contradicts the solid quarter expected by analysts generally.

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Earnings Review

AOL
AOL (NYSE: AOL) headlined the earnings wire today, and unfortunately the shares were down 26% as a result. AOL’s fall was so dramatic that it triggered exchange circuit breakers, halting trading in the shares for a breather. At about $11.20 now, AOL is the lowest it has been since the spinoff from Time Warner (NYSE: TWX) in 2009. Old problems continued to haunt AOL, with its subscriber base for Internet access continuing to recede. Nonetheless, the company grew advertising sales through the quarter ended June. The company’s net loss shrank to 11 cents, and it would have even earned $0.04 ex-special items. Unfortunately, while analysts had anticipated continued subscriber shedding, they were looking for better global advertising sales than surfaced. Revenues declined 8% in total, which is never a good thing.

Dish Network
Dish Network (Nasdaq: DISH) was down about a point Tuesday on its earnings report. DISH suffered a similar fate to AOL, as some of its subscribers moved to discounted plans offered by telephone companies Verizon (NYSE: VZ) and AT&T (NYSE: T). DISH lost 135K subscribers, where analysts were looking for the company to add 31K, according to StreetAccount data. The market thought a gain might happen, as DirecTV (NYSE: DTV) added 26K subscribers this quarter; though that was DTV’s lowest addition in years. Revenue grew 13%, ahead of the Street view, but the $0.75 DISH earned was short of the average analyst’s expectation for $0.79.

Beazer Homes
Beazer Homes (NYSE: BZH) fell 6% today, after reporting its results this morning. Revenue was scrapped 49%, and fell short of analysts’ expectations. The company posted a continuing loss per share of $0.75, though including $16 million in pretax charges, while analysts surveyed by Factset were looking for a loss of $0.46 on average (it’s unclear if the analysts’ view included the charge, but based on the stock’s movement it’s safe to say BZH came up short anyhow). There was some good news, though it wasn’t good enough for investors. New orders rose 23.7% in the quarter, and the company’s cancellation rate fell to 24.3% from 29.3%. Also, the company’s order backlog grew to 1,848, from 1,175 a year earlier.

Ralcorp
Ralcorp (NYSE: RAH) managed to salvage the day after starting lower. The company earned $1.15 a share after adjustments, off the analysts’ consensus for $1.20, based on Factset data. Revenues grew to $1.17 billion, on acquisitions, volume growth and price increase. The company also announced that it is buying Sara Lee’s (NYSE: SLE) North American refrigerated dough business for $545 million. The company maintained its full year estimate range of $5.20 to $5.35, which is inclusive of the consensus analyst view for $5.31.

The rest of the day’s EPS list includes: Abraxas Petroleum (Nasdaq: AXAS), Acorn Energy (Nasdaq: ACFN), Actions Semiconductor (Nasdaq: ACTS), ADDvantage Technologies (Nasdaq: AEY), Advanced Analogic Technologies (Nasdaq: AATI), Advocat (Nasdaq: AVCA), Agilysis (Nasdaq: AGYS), Alico (Nasdaq: ALCO), Ambient (Nasdaq: AMBT), Americana Bancorp (Nasdaq: ASBI), American Assets Trust (NYSE: AAT), American Oriental Bioengineering (NYSE: AOB), American Spectrum Reality (AMEX: AQQ), Amerigon (Nasdaq: ARGN), Amtech Systems (Nasdaq: ASYS), AOL (NYSE: AOL), Apollo Global Management (NYSE: APO), Applied Energetics (Nasdaq: AERG), Applied Industrial Technologies (NYSE: AIT), Arca BioPharma (Nasdaq: ABIO), Archipelago Learning (Nasdaq: ARCL), Arena Pharmaceuticals (Nasdaq: ARNA), Asia Entertainment & Resources (Nasdaq: AERL), AspenBio Pharma (Nasdaq: APPYD), Astronics (Nasdaq: ATRO), ATP Oil & Gas (Nasdaq: ATPG), Avatar Holdings (Nasdaq: AVTR), Barnwell Industries (AMEX: BRN), Beacon Power (Nasdaq: BCON), Beazer Homes (NYSE: BZH), Biglari (NYSE: BH), Bioanalytical Systems (Nasdaq: BASI), Biospecifics Technologies (Nasdaq: BSTC), Blonder Tongue Labs (AMEX: BDR), Blount Int’l (NYSE: BLT), Bluefly (Nasdaq: BFLY), Bluegreen (NYSE: BXG), Booz Allen Hamilton (NYSE: BAH), Cablevision (NYSE: CVC), Cadiz (Nasdaq: CDZI), Cambium Learning (Nasdaq: ABCD), Capstone Turbine (Nasdaq: CPST), Cardica (Nasdaq: CRDC), Carrizo Oil & Gas (Nasdaq: CRZO), Celsion (Nasdaq: CLSN), Central Virginia Bankshares (Nasdaq: CVBK), Chesapeake Midstream (Nasdaq: CHKM), China Automotive (Nasdaq: CAAS), China Technology Development (Nasdaq: CTDC), China Valves Technology (Nasdaq: CVVT), ChinaCast Education (Nasdaq: CAST), ClearOne Communications (Nasdaq: CLRO), Coca Cola Bottling (Nasdaq: COKE), Communications Systems (Nasdaq: JCS), Compass Diversified (Nasdaq: CODI), Comverge (Nasdaq: COMV), Connecticut Water Service (Nasdaq: CTWS), Consolidated Water (Nasdaq: CWCO), CorMedix (Nasdaq: CRMD), CPI Aerostructures (AMEX: CVU), Crexendo (AMEX: EXE), Cree (Nasdaq: CREE), Cytori Therapeutics (Nasdaq: CYTX), Daxor (AMEX: DXR), Deer Consumer Products (Nasdaq: DEER), Demand Media (NYSE: DMD), DGSE (Nasdaq: DGSE), Diodes (Nasdaq: DIOD), Dish Network (Nasdaq: DISH), Dover Saddlery (Nasdaq: DOVR), Duncan Energy Partners (NYSE: DEP), Ebix (Nasdaq: EBIX), Echostar (Nasdaq: SATS), Electro Sensors (Nasdaq: ELSE), EMC Insurance (Nasdaq: EMCI), Endo Pharmaceuticals (Nasdaq: ENDP), EnergySolutions (NYSE: ES), Enterprise Products Partners (NYSE: EPD), Entertainment Gaming Asia (AMEX: EGT), Envestnet (NYSE: ENV), Epocrates (Nasdaq: EPOC), Escalade (Nasdaq: ESCA), EV Energy Partners (Nasdaq: EVEP), E.W. Scripps (NYSE: SSP), Federal Agricultural Mortgage (NYSE: AGM), Feihe Int’l (NYSE: ADY), First Citizens Bank (Nasdaq: FCZA), FirstCity Financial (Nasdaq: FCFC), Fluidigm (Nasdaq: FLDM), FNB United (Nasdaq: FNBN), Forward Industries (Nasdaq: FORD), Fossil (Nasdaq: FOSL), Fuel Systems Solutions (Nasdaq: FSYS), Full House Resorts (AMEX: FLL), Furmanite (NYSE: FRM), FutureFuel (NYSE: FF), FX Energy (Nasdaq: FXEN), Gasco (AMEX: GSX), GenVec (Nasdaq: GNVC), Global Cash Access (NYSE: GCA), Greenlight Capital Re (Nasdaq: GLRE), GSE Systems (AMEX: GVP), GTx (Nasdaq: GTXI), Hackett Group (Nasdaq: HCKT), Harbin Electric (Nasdaq: HRBN), Harvest Natural (NYSE: HNR), Hawthorn Bancshares (Nasdaq: HWBK), Heckmann (NYSE: HEK), Hecla Mining (NYSE: HL), Hilltop (NYSE: HTH), Himax (Nasdaq: HIMX), Horizon Tech (Nasdaq: HRZN), Hospitality Property (NYSE: HPT), Industrial Services of America (Nasdaq: IDSA), Inergy (Nasdaq: NRGY), Infinity Pharma (Nasdaq: INFI), Institutional Financial Markets (Nasdaq: IFMI), Inter Parfums (Nasdaq: IPAR), International Flavor & Fragrances (NYSE: IFF), INTL FC Stone (Nasdaq: INTL), James River Coal (Nasdaq: JRCC), KAR Auction Services (NYSE: KAR), Kingtone Wireless Info (Nasdaq: KONE), KIT Digital (Nasdaq: KITD), Landauer (NYSE: LDR), Landmark Bancorp (Nasdaq: LARK), LDK Solar (NYSE: LDK), Liberty Media (Nasdaq: LINTA), Life Partners (Nasdaq: LPHI), Lightbridge (Nasdaq: LTBR), Lihua Int’l (Nasdaq: LIWA), Lion’s Gate Entertainment (NYSE: LGF), LML Payment (Nasdaq: LMLP), Loral Space and Communications (Nasdaq: LORL), LRAD (Nasdaq: LRAD), LuNA (Nasdaq: LUNA), Magnum Hunger (NYSE: MHR), Marfin Investment Group (ATH: MIG.AT), Masimo (Nasdaq: MASI), MedCath (Nasdaq: MDTH), Medidata Solutions (Nasdaq: MDSO), Medivation (Nasdaq: MDVN), Michael Baker (AMEX: BKR), Miller Industries (NYSE: MLR), Mistras (NYSE: MG), Motricity (Nasdaq: MOTR), Myriad Genetics (Nasdaq: MYGN), Nanosphere (Nasdaq: NSPH), National Security Group (Nasdaq: NSEC), Nelnet (NYSE: NNI), Neurogesx (Nasdaq: NGSX), Neutral Tandem (Nasdaq: TNDM), New Century Bancorp (Nasdaq: NCBC), Newlead Holdings (Nasdaq: NEWL), Nexstar Broadcasting (Nasdaq: NXST), NGP Capital (Nasdaq: NGPC), Northern Oil & Gas (AMEX: NOG), Nuance Communications (Nasdaq: NUAN), Omeros (Nasdaq: OMER), ORBCOMM (Nasdaq: ORBC), Orbit Int’l (Nasdaq: ORBT), Orbitz Worldwide (NYSE: OWW), Orient Paper (AMEX: ONP), PAETEC (Nasdaq: PAET), PAREXEL (Nasdaq: PRXL), Pantry (Nasdaq: PTRY), PC Mall (Nasdaq: MALL), Pegasystems (Nasdaq: PEGA), Pericom Semiconductor (Nasdaq: PSEM), PHI (Nasdaq: PHII), PICO Holdings (Nasdaq: PICO), Piedmont Office Realty Trust (NYSE: PDM), PMC Commercial Trust (AMEX: PCC), Pokertek (Nasdaq: PTEK), Poniard Pharmaceuticals (Nasdaq: PARD), Primus Guaranty (NYSE: PRS), Radnet (Nasdaq: RDNT), RCM Technologies (Nasdaq: RCMT), RELM Wireless (AMEX: RWC), Ralcorp (NYSE: RAH), Repros Therapeutics (Nasdaq: RPRX), RGC Resources (Nasdaq: RGCO), Rhino Resource Partners (NYSE: RNO), Rick’s Cabaret (Nasdaq: RICK), Rovi (Nasdaq: ROVI), Satcon Tech (Nasdaq: SATC), Sciclone Pharmaceuticals (Nasdaq: SCLN), Scientific Games (Nasdaq: SGMS), Sempra Energy (NYSE: SRE), Scripps Networks (NYSE: SNI), Seacube Container Leasing (NYSE: BOX), Seanergy Maritime (Nasdaq: SHIP), SearchMedia (AMEX: IDI), Sempra Energy (NYSE: SRE), Shoretel (Nasdaq: SHOR), Simcere (NYSE: SCR), SmartHeat (Nasdaq: HEAT), SmartPros (Nasdaq: SPRO), SMTC (Nasdaq: SMTX), Snyders Lance (Nasdaq: LNCE), Star Scientific (Nasdaq: CIGX), Strattec Security (Nasdaq: STRT), Sunpower (Nasdaq: SPWRA), Supreme Industries (AMEX: STS), Synutra (Nasdaq: SYUT), Sypris Solutions (Nasdaq: SYPR), Tengion (Nasdaq: TNGN), Textainer (NYSE: TGH), TIB Financial (Nasdaq: TIBB), Toreador Resources (Nasdaq: TRGL), Tornier (Nasdaq: TRNX), TranS1 (Nasdaq: TSON), Transact Technologies (Nasdaq: TACT), Transdigm (NYSE: TDG), TravelCenters (AMEX: TA), Universal Security Instruments (AMEX: UUU), URS (NYSE: URS), US Auto Parts (Nasdaq: PRTS), US Geothermal (AMEX: HTM), UTStarcom (Nasdaq: UTSI), Verenium (Nasdaq: VRNM), Viasystems (Nasdaq: VIAS), VirtualScopics (Nasdaq: VSCP), Vista Gold (AMEX: VGZ), Vitacost.com (Nasdaq: VITC), Vitesse Semiconductor (Nasdaq: VTSS), Voyager Oil and Gas (AMEX: VOG), Walt Disney (NYSE: DIS), Warren Resources (Nasdaq: WRES), Warwick Valley Telephone (Nasdaq: WWVY), Wave Systems (Nasdaq: WAVX), Wesco Aircraft (Nasdaq: WAIR), W.P. Carey (NYSE: WPC), Xinyuan Real Estate (NYSE: XIN), Yongye International (Nasdaq: YONG), Zhongpin (Nasdaq: HOGS) and Zoltek (Nasdaq: ZOLT).

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