Albany Molecular Research, Inc. provides an extensive list of research and development services for pharmaceutical companies, such as drug development and chemistry research in addition to some small-scale production. The company was founded in Albany, New York, has approximately 1,200 employees, and carries a market cap of $575 million.

A 140% Earnings Surprise

On August 6th Albany Molecular reported second-quarter earnings of $5.7 million which. After adjusting for a restructuring charge, that translates to 24 cents per share. The consensus estimate was only 10 cents per share, yielding a 140% earnings surprise.

Revenue saw a 17% spike, up to $57.9 million for the quarter. Much of the increase in revenue is due to a the Discovery Services segment, which shot up 54%.

Raising Guidance

After the stellar earnings report, the company raised its 2008 expectations. Albany molecular now expects between 48 and 52 cents per share, up from between 38 and 42 cents.

Analysts have raised their estimates even higher. The current year consensus estimate is up 42%, up to 54 cents per share, over the past two months. The consensus estimate for next year has increased to 67 cents per share from 57 cents, an 18% increase in that same time period.

Trial Underway for Oncology Drug

Albany Molecular announced it is starting its Phase I study of a new drug on August 18th. The oncology drug is designed to prevent cell mitosis, essentially killing cancer cells.

While this is not a new concept, ALB109564(a) has potential to be superior to current tubulin inhibitors used in chemotherapy. Up to 40 patients will be the subjects of the study.

The Chart

Shares of AMRI have been up sharply in recent months. Since the August 6th earnings announcement they have set a new 52-week high of $19.05 per share and continue to trade near that level.

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(AMRI) - Albany Molecular Research - A 140% Earnings Surprise

United Stationers Inc. (USTR) distributes business products in the United States and Mexico from 67 distribution centers and 30,000 reseller customers.

The company handles over 100,000 items, including technology products, traditional office products, janitorial and breakroom supplies, office furniture, and industrial supplies. USTR is able to ship overnight to customers in more than 90% of the United States and major cities in Mexico.

On Sep 2, USTR completed its acquisition of New Jersey-based distribution company Emco Distribution LLC for $15 million, which was funded under the company’s existing credit agreement.

United Stationers Beat Wall Street Second Quarter Estimates by 6.67%

On July 31, USTR reported second quarter earnings that surprised on estimates by 6 cents per share. Earnings per share were 91 cents per share compared with 84 cents per share in the year ago period. Adjusted for items, EPS was 96 cents per share. Analysts expected 90 cents per share.

Sales jumped 9.7% to $1.25 billion. 7% of the growth came from ORS Nasco, which USTR acquired in Dec 2007. USTR said sales were also helped by the timing of the Easter holiday, which fell in the first quarter versus the second quarter the year before.

The company stated it saw a 14.4% increase in janitorial/breakroom sales and a modest increase in office products and technology. Furniture sales declined 8% in the quarter.

USTR Encouraged by Second Quarter Results

United Stationers said it saw July sales growth trends which were in line with the year-to-date June growth rate. The company is focused on cost controls and working capital management to maintain its growth projections for 2008. USTR does expect higher product cost inflation in the second half of the year based on previously announced supplier price increases.

Estimates Rise for the Third Quarter and the Full Year

USTR has only one covering analyst, but that analyst has been raising estimates for the third quarter and the full year in the last month. For the quarter, estimates rose 10 cents to $1.04 from 96 cents per share.

For the full year, estimates rose 16 cents to $3.96 from $3.80 per share.

Value Fundamentals

United Stationers is a Zacks #1 Rank (Strong Buy) stock. It has a forward P/E of 11.63. USTR’s price-to-book is 2.09. The company has a solid five year average return on equity (ROE) of 13.87%.

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(USTR) - United Stationers - analyst has been raising estimates for the third quarter and the full year in the last month

RadioShack Corporation (RSH) is a consumer electronics retailer that operates in malls and neighborhood stores.

The company, a Zacks #1 Rank (Strong Buy), was founded in 1921 in Boston and now has 6,000 retail stores in the United States and 700 wireless phone kiosks.

Second Quarter Comparable Store Sales rise 6.9%

On July 24, RadioShack reported second quarter earnings that beat Wall Street estimates by 29.63%. Net income was $41.4 million, or 32 cents per share, compared to $47 million, or 34 cents per share in the second quarter of 2007. Adjusting for items, EPS were 35 cents per share. Analysts expected 27 cents per share.

Total sales rose $60 million to $995 million from $935 million in the same period a year ago. Sales increased 7.5% in company-owned stores, 6.1% in dealer/franchise outlets and 29.8% for the on-line business. The kiosk business fell by 2.7%.

Comparable store sales rose 6.9% year-over-year fueled by initial sales of digital-to-analog TV converter boxes, strong sales in GPS devices and increased sales in video gaming. All was not roses, as the Sprint post-paid business dragged down sales. RadioShack said that division continues to have a negative impact on the company’s performance.

RSH Begins Share Repurchase Program

On July 24, RadioShack announced that its board of directors authorized a new $200 million share repurchase program. The company anticipates purchases to be made from time to time. The program does not have an expiration date.

Consensus Estimates Rise for the Third Quarter and the Full Year

Analysts are bullish on the rest of 2008 despite the tough retail environment. Third quarter estimates are up 5 cents in the last 60 days to 36 cents per share from 31 cents per share.

For the full year, consensus estimates are up 13.3% to $1.78 from $1.57 per share.

Value Fundamentals

RadioShack’s forward P/E is 11.12. Its price-to-book is 2.94. The company has a stellar five year return on equity (ROE) of 31.32%. The company also pays a dividend, with a current yield of 1.30%.

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(RSH) - RadioShack - Begins Share Repurchase Program

With many consumers buckling under the considerable financial pressure of inflation and a weakened credit environment, plenty of retailers have been struggling to drive revenue and grow profits. Aeropostale however, has been able to buck the trend, as seen by the company’s impressive second-quarter results, reported on Aug 21.

Second-Quarter Results

Revenue was up 21% from last year to $377.1 million. Net income surged to $21.1 million, up from $14.7 million in the same period last year. This produced earnings of 31 cents per share, right in line with analyst expectations.

Flexing some earnings consistency, this was the fourth time in four quarters that the company has either beaten or matched analyst estimates, having done so by an average of 3 cents, or 4.34%.

Same-store sales, a key data metric used to evaluate retailers, was up 11% from last year.

Earnings Estimates

After the solid quarter, analysts boosted their earnings projections. The current-year estimate now stands at $2.18 per share, up from $2.09 per share 30 days ago. The next-year estimate is bullish, pegged at $2.43 per share, an 11.86% earnings growth projection.

Based upon the current-year estimate, this stock is trading at a slight premium to the overall market, with a forward P/E multiple of 16.5X.

The Chart

Shares of ARO have been advancing since finding a short-term bottom just above $28 in mid-July. Since then, this stock has logged a new 52-week high above $37, and is currently pressuring a short-term level of resistance just above $36. With a strong earnings projection in hand and reasonable valuations, this stock looks well positioned to produce more gains.

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(ARO) - Aeropostale - fourth time in four quarters that the company has either beaten or matched analyst estimates

Euroseas Limited (ESEA) is a worldwide dry cargo, drybulk and container shipper. The company, headquartered in Athens, Greece, markets its vessels on spot and period charters and also through pool arrangements.

ESEA has a fleet of 16 vessels, including 3 Panamax drybulk carriers, 2 Handysize drybulk carriers, 3 Intermediate container ships, 5 Handysize container ships, 2 Feeder container ships and 1 multipurpose dry cargo vessel.

Euroseas Surprises on Estimates by 2.33%

On Aug 14, Euroseas reported is second quarter earnings and beat Wall Street estimates by a penny. Net income was $15.7 million, or 52 cents per share, compared to $6.4 million in the second quarter of 2007.

Excluding the effect on the earnings from the amortization of the fair value of time charter contracts acquired, earnings per share were 44 cents per share compared to 38 cents per share a year ago. Analysts had expected 43 cents per share.

Revenues jumped 121.5% to $34.5 million from $15.6 million in the year ago period.

During the second quarter, the company expanded its fleet by one vessel after it acquired an intermediate container vessel in May 2008 for $43.5 million. The vessel is already under a term charter until August 2011 at a rate of $16,800 per day.

The fleet was nearly fully operational during the quarter, with an average of 15.44 vessels operating and earning an average time charter equivalent rate of $25,918 per day compared to operating 10.08 vessels at the average of $18,776 per day in the second quarter of 2007.

For the remainder of 2008, Euroseas’ fleet is 80% fixed under period charters, already concluded spot charters, or somehow protected from market fluctuations. For 2009, 34% of ESEA’s capacity is under time charter contracts or protected from market fluctuations.

ESEA Raises Second Quarter Dividend

On Aug 8, Euroseas declared a dividend of 32 cents per share for the second quarter of 2008, 7 cents higher than the dividend paid in the second quarter of 2007. It is payable on Sep 17 to shareholders of record as of Sep 5.

The dividend grew 29% in the first six months of 2008 to 63 cents per share from 49 cents per share in the year ago period.

Currently, the stock has a yield of 9.30%.

Consensus Estimates Rise for the Full Year

Responding to another earnings surprise, 2 out of 4 covering analysts have raised full year estimates in the last 30 days, although one analyst has also lowered estimates as well. Consensus estimates for the year are up 9 cents to $1.96 from $1.87 per share in the last 60 days. For the third quarter, estimates are unchanged at 50 cents per share in the last 2 months.

Value Fundamentals

Euroseas is a Zacks #1 Rank (Strong Buy) stock. It has a forward P/E of only 7.15, under the industry average of 11.03. Its price-to-book is 1.42. The company has an excellent one year return on equity (ROE) of 17.93%.

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(ESEA) - Euroseas Ltd - dividend grew 29% in the first six months of 2008

TiVo, Inc. is an innovative home entertainment company that first developed the digital video recorder(DVR). The company has changed the way millions of viewers watch TV and has spurred an advertising revolution as viewers fast forward through conventional 30-second spots.

The company was founded in 1997 and is headquartered in Alviso, California. It employs approximately 500 full-time employees and has a market cap of nearly $860 million.

A Solid Second Quarter

TiVo reported second-quarter fiscal year 2009 earnings of 3 cents per share on August 27th. The street was expecting a loss of 2 cents, which made this the fourth earnings surprise in as many quarters. Net income for the period was $2.9 million or a $20.6 million year-over-year increase, up from a loss of $17.7 million.

New Estimates Are Rising

While the consensus earnings estimate for full-year 2010 is a loss of 8 cents per share, the most recent estimate is a gain of 21 cents per share.

Estimated earnings growth for the current quarter, current year, and next year are 37.5%, 45.1%, and 44.6% respectively.

Buy It Now

The agreement announced on July 22nd, with Amazon.com, will take product placement to a new level, making impulse buying much easier. Users will be able to purchase products featured on their favorite shows without leaving the couch.

When your favorite author is promoting their newest book on a talk show, no need to write a reminder, with a few clicks of the remote control it will be delivered to your door, via Amazon.com. Viewers will be also be able to search for DVDs, books, and other items based on their favorite TV shows, without missing a second of programming.

Cable Giant Expanding Use of TiVo

Comcast continues to expand TiVo service throughout New England. The cable company intends to fund projects to improve TiVo and plans on launching a marketing campaign in September based on the services offered through TiVo.

TiVo service is currently being tested through Cox and should be available in the northeast toward the end of the year.

TiVo Announces Partnership with Entertainment Weekly

On August 27th TiVo announced a partnership with Entertainment Weekly that will give users seamless access to their favorite shows. Entertainment Weekly’s suggested shows, “What to Watch”, will be automatically recorded through TiVo. The service will be marketed and available to viewers sometime this fall.

The Chart

Shares of TIVO have convincingly broken out of a recent channel. The stock had been bound by support around $7.30 and resistance around $7.90, and are now trading above $8 for the first time since May.

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(TIVO) - TiVo, Inc - Estimated earnings growth for the current quarter, current year, and next year are 37.5%, 45.1%, and 44.6% respectively

Susser Holdings Corp. operates through two major segments across Texas, New Mexico, and Oklahoma. The Retail segment operates 510 convenience stores and gas stations named Stripes and Town & Country. The Wholesale segment distributes fuel to over 380 dealers. The company’s headquarters are in Corpus Christi, Texas, has a market cap of over $300 million, and has approximately 4,200 full-time employees.

A 290% Earnings Surprise

On August 6th Susser announced second-quarter earnings of 39 cents per share, smashing the consensus estimate of 10 cents by 290%. Sales came in at $187.9 million, up 77.4% year-over-year. The spike in sales is mostly due to acquisitions, but a 6.6% same-store increase drove earnings higher, as well.

Net income also received a boost from increased margins across the board, including fuel which the company reported 19.4 cents per gallon compared to last year’s 17.2 cents.

Susser Raises Estimate of Acquisition

While the acquisition of Town & Country Food Stores was announced last year, Susser recently announced that the integration is fully complete. The Company now estimates the minimum expected synergy from acquiring Town & Country Food Stores is $10 million, up from the previous estimate of $5 million. The company’s new estimate is based on a decrease in procurement cost, mostly through the merchandise segment.

Hurricane Dolly’s Impact Less Than Expected

While the exact cost is unknown, the estimate is $2-3 million, however the company’s stores show no signs of structural damage. Susser did have to close 112 stores during the storm in late July, but employees were unscathed and costs were limited to food spoilage and superficial damages to the stores.

Estimates Are Rising

The consensus estimate for the current quarter is 36 cents per share, up 20% from 30 cents a few weeks ago. The current-year consensus estimate is also up, now 50 cents per share from 34 cents within the last month. While the consensus for the quarter is 36 cents per share, and the current year is 50 cents, the most recent estimates have come in at 47 cents and 85 cents, respectively.

The Chart

Shares of SUSS have been in an upward trend since late July when the company released an update for its operating results on July 21st. The shares saw a nice pop after the update and another spike just after the August 6th earnings announcement.

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(SUSS) - Susser Holdings - A 290% Earnings Surprise

Overseas Shipholding Group, Inc. (OSG), headquartered in New York City, transports crude oil and petroleum products around the world with a fleet of 121 vessels.

As of June 30, 50% of the ships were company-owned, with the remaining bareboat or time chartered in. 35 vessels are also in the newbuild program.

The company, a Zacks #1 Rank (Strong Buy), is a member of Tankers International, Aframax International and Panamax International, which are commercial pools of similar size and quality vessels with different ship owners.

The fleets are combined to act as a single fleet, which members believe improves customer service and vessel utilization as the larger fleet allows for expanded geographical coverage and more market concentration.

OSG continues to change its vessel line-up. On Aug 13, the company announced the sale two 1997-built dry bulk carriers. The sale is expected to generate $55 million in the third quarter.

Overseas Beat Wall Street Estimates for the Second Quarter by 15.69%

On July 19, Overseas reported second quarter earnings that surprised on estimates by 43 cents per share. Net income rose 10% to $86.9 million, or $2.81 per share, from $79 million, or $2.28 per share in the year ago period.

Accounting for the sales of various vessels during the quarter, EPS were $3.17. Analysts had expected $2.74 per share.

Revenues jumped 41% to $386.1 million from $274.2 million in the second quarter of 2007. The company attributed the increase to an 82% increase in spot charter rates for the VLCCs and an 75% increase for Aframaxes.

The company is bullish about the strength of the shipping sector.

“The crude oil tanker market saw unprecedented levels of strength in the first half of 2008, primarily due to OPEC production increases,” said Morten Arntzen, President and CEO.

“This resulted in a significant pick-up in long haul movements at the same time as single hull discrimination increased, creating a strong freight rate environment. On the product tanker side, rates were lifted by a surge in diesel movements worldwide.”

“Market conditions continue to create a very strong outlook for our crude tankers and the prospects for our other two main businesses are equally compelling,” he added.

Consensus Estimates Soar for the Third Quarter and the Full Year

Analysts responded to the bullish second quarter report by significantly raising estimates for the third quarter and the full year. Third quarter estimates soared to $3.45 from 31 cents per share in the last 30 days with all 7 covering analysts raising estimates.

For the full year, estimates jumped 60% to $12.66 from $7.93 per share with all covering analysts raising estimates in the last month.

Value Fundamentals

Overseas Shipholding Group is cheap, trading at only 7.4x forward earnings. Its price-to-book is 1.10, under the industry average of 1.40. The company also has an outstanding five year average return on equity (ROE) of 19.56%.

OSG also announced it was increasing its dividend by 40% to $1.75 annually per share. The result is a current yield of 2.60%.

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(OSG) - Overseas Shipholding Group - all 7 covering analysts raised estimates in the last 30 days

Urban Outfitters, Inc operates as a retailer through Urban Outfitter and Anthropologie, as well as a wholesaler through Free People. Each brand sells an array of clothing, home furnishings, and accessories through its own stores, catalogs, or web site.

The company has over 200 stores between its brands and ships to more than 100 countries. The Philadelphia based company carries a market cap of $5.7 billion and has approximately 10,000 full or part-time employees.

A Fantastic Second Quarter

Urban Outfitters announce second-quarter for fiscal year 2009 results on August 14th that included sales of $454 million, the second best mark in the company’s history. Sales were driven by a 13% increase in comparable-store sales and a 42% spike in consumer direct sales.

The announcement also included earnings per share of 33 cents or a 79% year-over-year increase, up from 19 cents. Analysts were expecting 29 cents per share, making this the fourth earnings surprise in the past four quarters.

The company also boosted its operating margin to 18.3%, up from 16.0% last quarter.

Estimates Continue to Rise

Within the last 30 days the consensus estimates for the current year and next year have risen. The current year estimate is $1.34 per share, up 9% this month.

The expected annual earnings growth and sales growth are now 25.8% and 26.6%, respectively.

New Leadership Installed at Anthropologie

On August 20th Urban Outfitters announced the new CEOs for the Anthropologie brand. The company opted for a joint leadership structure, rather than a single CEO, and promoted Wendy Wurtzburger and Wendy Brown to the new roles. Both were senior executives and have been with the company for more than 25 years, combined.

The Chart

Shares of URBN have been climbing steadily and recently set a new 52-week high of $37.09. The stock has retraced slightly, but continues to test the new high.

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(URBN) - Urban Outfitters - Estimates Continue to Rise

ICON Plc. provides outsource services for pharmaceutical and biotech companies. The company specializes in development, management, and analysis of programs supporting clinical trials. ICON helps its clients cut costs in research and development of new drugs and medical devices. The company is headquartered in Dublin, Ireland and currently has over 6500 employees in offices across Europe, Asia, and the United States.

Another Strong Quarter

On July 22nd ICON announced second-quarter results that included earnings per share, before the stock split, of 62 cents, up from 45 cents in the second quarter last year. Analysts expected 59 cents per share, resulting in the fourth earnings surprise in the last four quarters.

Net revenue rose 48.5% to $218.3 million since the first quarter of 2008. The company continues to raise full-year earnings guidance. Before a recent stock split, the company raised estimates to between $2.46 and $2.52, up from between $2.35 and $2.45 last quarter. Analysts project an earnings growth rate of 32%.

ICON credits strong global demand and an increased operating margin of 11.2%, up from 10.9% last quarter, for the strong performance.

Acquires a Clinical Facility

Earlier this year ICON acquired Healthcare Discoveries Inc for $12 million. The company may pay up to $10 million more by the end of 2008 if certain performance-based goals are reached.

The 85 bed unit specializes in early phase development programs and is located in San Antonio, Texas. This is ICON’s first clinical pharmacology platform in the U.S.

ICON partners with PHT

The company entered a partnership agreement with PHT, a provider of hand held electronic devices used in clinical trials on June 10th of this year. ICON can now offer its clients PHT’s hand held devices for on-site Patient Reported Outcomes(PRO).

Three new trials have already been secured since the announcement. The companies can now better service clients by focusing on clients complete PRO needs.

2-for-1 Split

Shares of ICON split on August 12th. The shareholders on record as of August 8th, today, received the additional shares. On August 13th, the opening price was adjusted to reflect the new outstanding shares.

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(ICLR) - ICON Plc - Analysts project an earnings growth rate of 32%

TBS International Limited is an ocean transportation company that ships cargo worldwide on 44 vessels.

The company ships through liner, parcel, bulk and vessel chartering services on key trade routes between Latin America and China, Japan and South Korea and ports in North America, Africa, the Caribbean and the Mediterranean.

TBSI, a Zacks #1 Rank (Strong Buy), has developed a niche in multipurpose tweendeckers and smaller dry bulk carriers varying from 17,300 dwt to 45,500 dwt that can service ports that larger ships cannot. The company ships steel products, metals, fertilizer, coal, salt, sugar, grain, chemicals and other industrial goods.

TBS International is heavily concentrated in Latin America and offers a high-frequency of sailings from Chile, Ecuador and Peru to China, Japan and South Korea. The Latin America route serves industrial cargo customers in Brazil, Argentina and Venezuela with scheduled transports to the Caribbean, and the various coasts of Central and South America.

The company operates time charter services, which includes both short- and long-term time charters.

TBS International Reports the Best Quarter in the Company’s History

On Aug 6, TBS International reported record second quarter earnings as charter rates and volumes soared. Net income rose 142.4% to $52.6 million, or $1.82 per share, compared to $21.7 million, or 77 cents per share in the second quarter of 2007. Consensus estimates called for $1.63 per share.

Revenues jumped 104.6% to $156.9 million from $76.7 million in the year ago period. Voyage revenues totaled $128.7 million, up 113.1% from $60.4 million in 2007.

Cargo volume increased 52.7% and freight rates rose 37.6%, or $25.06 to $91.79 per ton compared to $66.73 per ton in the 2007 period.

Average daily voyage time charter equivalent, which is industry standard after deducting all voyage expenses from revenues, surged 52% to $31,212 per day from $20,538 per day in 2007. TBSI also saw the average daily voyage time charter rise 10.3% in the quarter compared to the first quarter of 2008.

Time charter revenue also jumped compared to 2007. Revenues rose 57.1% to $25.3 million from $9.2 million in 2007.

Average Daily Time Charter Equivalent, the industry standard that reflects time charter-out revenues reduced by commissions, rose 63.2% to $30,563 per day from $18,727 in the second quarter of 2007. The company said the increase was due to the upward trend in the worldwide shipping spot market rates.

TBSI operated 39 vessels in the second quarter of 2008 compared to 31 vessels in the same period a year ago.

TBSI is Bullish on Its Business

All together, the company will be operating 46 vessels in the second half of 2008: 23 multipurpose tweendeckers and 23 handymax and handysize bulk carriers.

TBSI intends to target non-containerized project cargoes in the mining, energy, steel production and infrastructure and construction sectors as growth areas that will benefit from expanding global trade.

Entering into the second half of 2008, the company sees strong cargo requirements and firm freight rates.

Consensus Estimates Rising for the Full Year

The company saw higher forecasts from Wall Street. The full-year 2008 consensus estimate of $7.12 per share climbed from $6.37 over the past 30 trading days.

Value Fundamentals

TBS International is cheap. It trades at only 3.92x forward earnings. Its price-to-book is 2.4. The company has an outstanding return on equity (ROE) of 50%, versus the industry average of 14%.

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(TBSI) - TBS International Limited - ocean transportation company that ships cargo worldwide on 44 vessels

With many consumers buckling under the considerable financial pressure of inflation and a weakened credit environment, plenty of retailers have been struggling to drive revenue and grow profits. Aeropostale however, has been able to buck the trend, as seen by the company’s impressive second-quarter results, reported on Aug 21.

Second-Quarter Results

Revenue was up 21% from last year to $377.1 million. Net income surged to $21.1 million, up from $14.7 million in the same period last year. This produced earnings of 31 cents per share, right in line with analyst expectations.

Flexing some earnings consistency, this was the fourth time in four quarters that the company has either beaten or matched analyst estimates, having done so by an average of 3 cents, or 4.34%.

Same-store sales, a key data metric used to evaluate retailers, was up 11% from last year.

Earnings Estimates

After the solid quarter, analysts boosted their earnings projections. The current-year estimate now stands at $2.18 per share, up from $2.09 per share 30 days ago. The next-year estimate is bullish, pegged at $2.43 per share, an 11.86% earnings growth projection.

Based upon the current-year estimate, this stock is trading at a slight premium to the overall market, with a forward P/E multiple of 16.5X.

The Chart

Shares of ARO have been advancing since finding a short-term bottom just above $28 in mid-July. Since then, this stock has logged a new 52-week high above $37, and is currently pressuring a short-term level of resistance just above $36. With a strong earnings projection in hand and reasonable valuations, this stock looks well positioned to produce more gains.

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(ARO) - Aeropostale - fourth time in four quarters that the company has either beaten or matched analyst estimates

Euroseas Limited (ESEA) is a worldwide dry cargo, drybulk and container shipper. The company, headquartered in Athens, Greece, markets its vessels on spot and period charters and also through pool arrangements.

ESEA has a fleet of 16 vessels, including 3 Panamax drybulk carriers, 2 Handysize drybulk carriers, 3 Intermediate container ships, 5 Handysize container ships, 2 Feeder container ships and 1 multipurpose dry cargo vessel.

Euroseas Surprises on Estimates by 2.33%

On Aug 14, Euroseas reported is second quarter earnings and beat Wall Street estimates by a penny. Net income was $15.7 million, or 52 cents per share, compared to $6.4 million in the second quarter of 2007.

Excluding the effect on the earnings from the amortization of the fair value of time charter contracts acquired, earnings per share were 44 cents per share compared to 38 cents per share a year ago. Analysts had expected 43 cents per share.

Revenues jumped 121.5% to $34.5 million from $15.6 million in the year ago period.

During the second quarter, the company expanded its fleet by one vessel after it acquired an intermediate container vessel in May 2008 for $43.5 million. The vessel is already under a term charter until August 2011 at a rate of $16,800 per day.

The fleet was nearly fully operational during the quarter, with an average of 15.44 vessels operating and earning an average time charter equivalent rate of $25,918 per day compared to operating 10.08 vessels at the average of $18,776 per day in the second quarter of 2007.

For the remainder of 2008, Euroseas’ fleet is 80% fixed under period charters, already concluded spot charters, or somehow protected from market fluctuations. For 2009, 34% of ESEA’s capacity is under time charter contracts or protected from market fluctuations.

ESEA Raises Second Quarter Dividend

On Aug 8, Euroseas declared a dividend of 32 cents per share for the second quarter of 2008, 7 cents higher than the dividend paid in the second quarter of 2007. It is payable on Sep 17 to shareholders of record as of Sep 5.

The dividend grew 29% in the first six months of 2008 to 63 cents per share from 49 cents per share in the year ago period.

Currently, the stock has a yield of 9.30%.

Consensus Estimates Rise for the Full Year

Responding to another earnings surprise, 2 out of 4 covering analysts have raised full year estimates in the last 30 days, although one analyst has also lowered estimates as well. Consensus estimates for the year are up 9 cents to $1.96 from $1.87 per share in the last 60 days. For the third quarter, estimates are unchanged at 50 cents per share in the last 2 months.

Value Fundamentals

Euroseas is a Zacks #1 Rank (Strong Buy) stock. It has a forward P/E of only 7.15, under the industry average of 11.03. Its price-to-book is 1.42. The company has an excellent one year return on equity (ROE) of 17.93%.

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(ESEA) - Euroseas Ltd - dividend grew 29% in the first six months of 2008

TiVo, Inc. is an innovative home entertainment company that first developed the digital video recorder(DVR). The company has changed the way millions of viewers watch TV and has spurred an advertising revolution as viewers fast forward through conventional 30-second spots.

The company was founded in 1997 and is headquartered in Alviso, California. It employs approximately 500 full-time employees and has a market cap of nearly $860 million.

A Solid Second Quarter

TiVo reported second-quarter fiscal year 2009 earnings of 3 cents per share on August 27th. The street was expecting a loss of 2 cents, which made this the fourth earnings surprise in as many quarters. Net income for the period was $2.9 million or a $20.6 million year-over-year increase, up from a loss of $17.7 million.

New Estimates Are Rising

While the consensus earnings estimate for full-year 2010 is a loss of 8 cents per share, the most recent estimate is a gain of 21 cents per share.

Estimated earnings growth for the current quarter, current year, and next year are 37.5%, 45.1%, and 44.6% respectively.

Buy It Now

The agreement announced on July 22nd, with Amazon.com, will take product placement to a new level, making impulse buying much easier. Users will be able to purchase products featured on their favorite shows without leaving the couch.

When your favorite author is promoting their newest book on a talk show, no need to write a reminder, with a few clicks of the remote control it will be delivered to your door, via Amazon.com. Viewers will be also be able to search for DVDs, books, and other items based on their favorite TV shows, without missing a second of programming.

Cable Giant Expanding Use of TiVo

Comcast continues to expand TiVo service throughout New England. The cable company intends to fund projects to improve TiVo and plans on launching a marketing campaign in September based on the services offered through TiVo.

TiVo service is currently being tested through Cox and should be available in the northeast toward the end of the year.

TiVo Announces Partnership with Entertainment Weekly

On August 27th TiVo announced a partnership with Entertainment Weekly that will give users seamless access to their favorite shows. Entertainment Weekly’s suggested shows, “What to Watch”, will be automatically recorded through TiVo. The service will be marketed and available to viewers sometime this fall.

The Chart

Shares of TIVO have convincingly broken out of a recent channel. The stock had been bound by support around $7.30 and resistance around $7.90, and are now trading above $8 for the first time since May.

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(TIVO) - TiVo, Inc - Estimated earnings growth for the current quarter, current year, and next year are 37.5%, 45.1%, and 44.6% respectively

Susser Holdings Corp. operates through two major segments across Texas, New Mexico, and Oklahoma. The Retail segment operates 510 convenience stores and gas stations named Stripes and Town & Country. The Wholesale segment distributes fuel to over 380 dealers. The company’s headquarters are in Corpus Christi, Texas, has a market cap of over $300 million, and has approximately 4,200 full-time employees.

A 290% Earnings Surprise

On August 6th Susser announced second-quarter earnings of 39 cents per share, smashing the consensus estimate of 10 cents by 290%. Sales came in at $187.9 million, up 77.4% year-over-year. The spike in sales is mostly due to acquisitions, but a 6.6% same-store increase drove earnings higher, as well.

Net income also received a boost from increased margins across the board, including fuel which the company reported 19.4 cents per gallon compared to last year’s 17.2 cents.

Susser Raises Estimate of Acquisition

While the acquisition of Town & Country Food Stores was announced last year, Susser recently announced that the integration is fully complete. The Company now estimates the minimum expected synergy from acquiring Town & Country Food Stores is $10 million, up from the previous estimate of $5 million. The company’s new estimate is based on a decrease in procurement cost, mostly through the merchandise segment.

Hurricane Dolly’s Impact Less Than Expected

While the exact cost is unknown, the estimate is $2-3 million, however the company’s stores show no signs of structural damage. Susser did have to close 112 stores during the storm in late July, but employees were unscathed and costs were limited to food spoilage and superficial damages to the stores.

Estimates Are Rising

The consensus estimate for the current quarter is 36 cents per share, up 20% from 30 cents a few weeks ago. The current-year consensus estimate is also up, now 50 cents per share from 34 cents within the last month. While the consensus for the quarter is 36 cents per share, and the current year is 50 cents, the most recent estimates have come in at 47 cents and 85 cents, respectively.

The Chart

Shares of SUSS have been in an upward trend since late July when the company released an update for its operating results on July 21st. The shares saw a nice pop after the update and another spike just after the August 6th earnings announcement.

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(SUSS) - Susser Holdings - A 290% Earnings Surprise

Overseas Shipholding Group, Inc. (OSG), headquartered in New York City, transports crude oil and petroleum products around the world with a fleet of 121 vessels.

As of June 30, 50% of the ships were company-owned, with the remaining bareboat or time chartered in. 35 vessels are also in the newbuild program.

The company, a Zacks #1 Rank (Strong Buy), is a member of Tankers International, Aframax International and Panamax International, which are commercial pools of similar size and quality vessels with different ship owners.

The fleets are combined to act as a single fleet, which members believe improves customer service and vessel utilization as the larger fleet allows for expanded geographical coverage and more market concentration.

OSG continues to change its vessel line-up. On Aug 13, the company announced the sale two 1997-built dry bulk carriers. The sale is expected to generate $55 million in the third quarter.

Overseas Beat Wall Street Estimates for the Second Quarter by 15.69%

On July 19, Overseas reported second quarter earnings that surprised on estimates by 43 cents per share. Net income rose 10% to $86.9 million, or $2.81 per share, from $79 million, or $2.28 per share in the year ago period.

Accounting for the sales of various vessels during the quarter, EPS were $3.17. Analysts had expected $2.74 per share.

Revenues jumped 41% to $386.1 million from $274.2 million in the second quarter of 2007. The company attributed the increase to an 82% increase in spot charter rates for the VLCCs and an 75% increase for Aframaxes.

The company is bullish about the strength of the shipping sector.

“The crude oil tanker market saw unprecedented levels of strength in the first half of 2008, primarily due to OPEC production increases,” said Morten Arntzen, President and CEO.

“This resulted in a significant pick-up in long haul movements at the same time as single hull discrimination increased, creating a strong freight rate environment. On the product tanker side, rates were lifted by a surge in diesel movements worldwide.”

“Market conditions continue to create a very strong outlook for our crude tankers and the prospects for our other two main businesses are equally compelling,” he added.

Consensus Estimates Soar for the Third Quarter and the Full Year

Analysts responded to the bullish second quarter report by significantly raising estimates for the third quarter and the full year. Third quarter estimates soared to $3.45 from 31 cents per share in the last 30 days with all 7 covering analysts raising estimates.

For the full year, estimates jumped 60% to $12.66 from $7.93 per share with all covering analysts raising estimates in the last month.

Value Fundamentals

Overseas Shipholding Group is cheap, trading at only 7.4x forward earnings. Its price-to-book is 1.10, under the industry average of 1.40. The company also has an outstanding five year average return on equity (ROE) of 19.56%.

OSG also announced it was increasing its dividend by 40% to $1.75 annually per share. The result is a current yield of 2.60%.

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(OSG) - Overseas Shipholding Group - all 7 covering analysts raised estimates in the last 30 days

Urban Outfitters, Inc operates as a retailer through Urban Outfitter and Anthropologie, as well as a wholesaler through Free People. Each brand sells an array of clothing, home furnishings, and accessories through its own stores, catalogs, or web site.

The company has over 200 stores between its brands and ships to more than 100 countries. The Philadelphia based company carries a market cap of $5.7 billion and has approximately 10,000 full or part-time employees.

A Fantastic Second Quarter

Urban Outfitters announce second-quarter for fiscal year 2009 results on August 14th that included sales of $454 million, the second best mark in the company’s history. Sales were driven by a 13% increase in comparable-store sales and a 42% spike in consumer direct sales.

The announcement also included earnings per share of 33 cents or a 79% year-over-year increase, up from 19 cents. Analysts were expecting 29 cents per share, making this the fourth earnings surprise in the past four quarters.

The company also boosted its operating margin to 18.3%, up from 16.0% last quarter.

Estimates Continue to Rise

Within the last 30 days the consensus estimates for the current year and next year have risen. The current year estimate is $1.34 per share, up 9% this month.

The expected annual earnings growth and sales growth are now 25.8% and 26.6%, respectively.

New Leadership Installed at Anthropologie

On August 20th Urban Outfitters announced the new CEOs for the Anthropologie brand. The company opted for a joint leadership structure, rather than a single CEO, and promoted Wendy Wurtzburger and Wendy Brown to the new roles. Both were senior executives and have been with the company for more than 25 years, combined.

The Chart

Shares of URBN have been climbing steadily and recently set a new 52-week high of $37.09. The stock has retraced slightly, but continues to test the new high.

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(URBN) - Urban Outfitters - Estimates Continue to Rise

ICON Plc. provides outsource services for pharmaceutical and biotech companies. The company specializes in development, management, and analysis of programs supporting clinical trials. ICON helps its clients cut costs in research and development of new drugs and medical devices. The company is headquartered in Dublin, Ireland and currently has over 6500 employees in offices across Europe, Asia, and the United States.

Another Strong Quarter

On July 22nd ICON announced second-quarter results that included earnings per share, before the stock split, of 62 cents, up from 45 cents in the second quarter last year. Analysts expected 59 cents per share, resulting in the fourth earnings surprise in the last four quarters.

Net revenue rose 48.5% to $218.3 million since the first quarter of 2008. The company continues to raise full-year earnings guidance. Before a recent stock split, the company raised estimates to between $2.46 and $2.52, up from between $2.35 and $2.45 last quarter. Analysts project an earnings growth rate of 32%.

ICON credits strong global demand and an increased operating margin of 11.2%, up from 10.9% last quarter, for the strong performance.

Acquires a Clinical Facility

Earlier this year ICON acquired Healthcare Discoveries Inc for $12 million. The company may pay up to $10 million more by the end of 2008 if certain performance-based goals are reached.

The 85 bed unit specializes in early phase development programs and is located in San Antonio, Texas. This is ICON’s first clinical pharmacology platform in the U.S.

ICON partners with PHT

The company entered a partnership agreement with PHT, a provider of hand held electronic devices used in clinical trials on June 10th of this year. ICON can now offer its clients PHT’s hand held devices for on-site Patient Reported Outcomes(PRO).

Three new trials have already been secured since the announcement. The companies can now better service clients by focusing on clients complete PRO needs.

2-for-1 Split

Shares of ICON split on August 12th. The shareholders on record as of August 8th, today, received the additional shares. On August 13th, the opening price was adjusted to reflect the new outstanding shares.

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(ICLR) - ICON Plc - Analysts project an earnings growth rate of 32%

TBS International Limited is an ocean transportation company that ships cargo worldwide on 44 vessels.

The company ships through liner, parcel, bulk and vessel chartering services on key trade routes between Latin America and China, Japan and South Korea and ports in North America, Africa, the Caribbean and the Mediterranean.

TBSI, a Zacks #1 Rank (Strong Buy), has developed a niche in multipurpose tweendeckers and smaller dry bulk carriers varying from 17,300 dwt to 45,500 dwt that can service ports that larger ships cannot. The company ships steel products, metals, fertilizer, coal, salt, sugar, grain, chemicals and other industrial goods.

TBS International is heavily concentrated in Latin America and offers a high-frequency of sailings from Chile, Ecuador and Peru to China, Japan and South Korea. The Latin America route serves industrial cargo customers in Brazil, Argentina and Venezuela with scheduled transports to the Caribbean, and the various coasts of Central and South America.

The company operates time charter services, which includes both short- and long-term time charters.

TBS International Reports the Best Quarter in the Company’s History

On Aug 6, TBS International reported record second quarter earnings as charter rates and volumes soared. Net income rose 142.4% to $52.6 million, or $1.82 per share, compared to $21.7 million, or 77 cents per share in the second quarter of 2007. Consensus estimates called for $1.63 per share.

Revenues jumped 104.6% to $156.9 million from $76.7 million in the year ago period. Voyage revenues totaled $128.7 million, up 113.1% from $60.4 million in 2007.

Cargo volume increased 52.7% and freight rates rose 37.6%, or $25.06 to $91.79 per ton compared to $66.73 per ton in the 2007 period.

Average daily voyage time charter equivalent, which is industry standard after deducting all voyage expenses from revenues, surged 52% to $31,212 per day from $20,538 per day in 2007. TBSI also saw the average daily voyage time charter rise 10.3% in the quarter compared to the first quarter of 2008.

Time charter revenue also jumped compared to 2007. Revenues rose 57.1% to $25.3 million from $9.2 million in 2007.

Average Daily Time Charter Equivalent, the industry standard that reflects time charter-out revenues reduced by commissions, rose 63.2% to $30,563 per day from $18,727 in the second quarter of 2007. The company said the increase was due to the upward trend in the worldwide shipping spot market rates.

TBSI operated 39 vessels in the second quarter of 2008 compared to 31 vessels in the same period a year ago.

TBSI is Bullish on Its Business

All together, the company will be operating 46 vessels in the second half of 2008: 23 multipurpose tweendeckers and 23 handymax and handysize bulk carriers.

TBSI intends to target non-containerized project cargoes in the mining, energy, steel production and infrastructure and construction sectors as growth areas that will benefit from expanding global trade.

Entering into the second half of 2008, the company sees strong cargo requirements and firm freight rates.

Consensus Estimates Rising for the Full Year

The company saw higher forecasts from Wall Street. The full-year 2008 consensus estimate of $7.12 per share climbed from $6.37 over the past 30 trading days.

Value Fundamentals

TBS International is cheap. It trades at only 3.92x forward earnings. Its price-to-book is 2.4. The company has an outstanding return on equity (ROE) of 50%, versus the industry average of 14%.

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(TBSI) - TBS International Limited - ocean transportation company that ships cargo worldwide on 44 vessels

Tetra Tech, Inc. provides environmental engineering and consulting services to several public and private sector clients. The company is based in Pasadena, California, carries a market cap of $1.7 billion, and employs approximately 8,500 people.

Quarterly Results Well Above Guidance

Tetra Tech, Inc announced third-quarter results on July 30th which surpassed guidance in several key areas. Net Revenue was $332.3 million, up 29.6% year-over-year from $256.3 million.

The largest gains were seen in government and commercial business which had year-over-year increases of 34% and 36%, respectively. Heavier workloads by government agencies and several wind power projects were the source of the additional business.

The impressive growth translated to earnings per share of 27 cents, up 28.6% from 21 cents in the same quarter last year. The EPS announcement beat the consensus estimate, which was 24 cents, by 12.5%. This was the fourth earnings surprise in as many quarters, each averaging 10.3%

New Contracts Yield Record Backlog

Since the beginning of the year, Tetra Tech has announce almost a dozen contracts and projects that may value over $5 billion when completed. Most has been awarded from the United States Air Force and Navy.

The company now has a backlog of $1.57 billion a company record and up 29.3% year-over-year.

Tetra Bolsters Services Available Through Acquisition

Tetra Tech completed the acquisition of three firms that will contribute to several areas including the services offered to the US Agency for Internal Development. The consulting and engineering companies have a total annual revenue of approximately $20 million.

The Chart

Shares of TTEK set a new 52-week high of $30.00 per share shortly after the July 30th earnings announcement. The stock has pulled back slightly and is currently trading in a tight channel between just above $29 and just below $28.

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(TTEK) - Tetra Tech - New Contracts Yield Record Backlog

Accenture is global management consulting, technology services and outsourcing company. The company collaborates with clients to help them become high-performance businesses and governments. With more than 180,000 people in 49 countries, the company generated net revenues of US$19.70 billion for the fiscal year ended Aug. 31, 2007.

The U.S. Department of Homeland Security’s Contract Extended

The company just announced a contract extension with The U.S. Department of Homeland Security. In accordance with the contract, Accenture acts as prime integrator for the United States Visitor and Immigrant Status Indicator Technology (US-VISIT) program. ACN noted that it was awarded the original contract in May 2004, which included a five-year base period plus five one-year options.

Record Growth in the Third Quarter

In late June, the Zacks Rank #1 (Strong Buy) company posted fiscal third-quarter results, which included record revenues that grew 20% on a year-over-year basis. Record earnings per share of 74 cents surpassed the year-prior 54 cents and topped the consensus estimate by 7%.

William D. Green, Accenture’s chairman & CEO, said, “Our excellent results in the third quarter include our highest-ever quarterly revenues and earnings per share. In addition, our disciplined approach to managing our diverse and global business enabled us to expand our operating margin, and the solid bookings we achieved demonstrate continued strong global demand for our services, even in markets experiencing difficult economic conditions.”

Upbeat on the Future

Accenture hiked its outlook for earnings per share for the full fiscal year 2008, to a range of $2.63 to $2.65 from its previously guided range of $2.55 to $2.60. Analysts have also been raising earnings forecasts for the year ending August 2008. Projections of $2.65 per share were increased from the two-months ago level of $2.59.

Favorable Industry Comparisons of Growth and Income

The company’s healthy return on equity (ROE) of 74% is well above the industry average of 9%. Its net margin of 6.5% tops the industry average of 3.5%. ACN’s dividend yield of 1% stands out in an industry that virtually pays no income.

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(ACN) - Accenture Ltd - Analysts have also been raising earnings forecasts for the year ending August 2008