CCME: they didnot guide down Q4. They raised NI guidance for the year from 82m-85m to about 102m, that's an 22% upguide. Last time when Q2 was reported with eps =0.796 (obviously a huge q), they didnot raise the 2010 guidance which implied approx eps=2.20E for the year, obviously very low compared to a total eps of 1.34 for Q1 and Q2. That didnot mean either that they guided Q3 and Q4 down to an avg of 0.43 eps each as today's result shows. It's just their conservative style. UPOD as Fernando pointed out.
Anybody who follows this company knows their rev comes mainly from bus contracts. Since the # of busses (and CPM rates) under contract can only increase from q to q and the bus operators cannot just cancel the LT contracts they have with CME like that, plus Q4 being their busiest q , it just makes little sense to see a sequential decrease from Q3 to Q4.
Based on today's result, I have even increased my Q4 Net Inc estimate from 34m to 36.2m. So I am seeing 0.88 eps for Q4 and 3.03 eps now for the year.
from Q2 report: The Company reaffirms its recently revised 2010 net income guidance which is expected to be in the range of $82 million to $85 million (on a non-GAAP basis, exclusive of non-cash charges for (i) share based compensation in connection with the granting of options under the Company’s share incentive plan expected to be adopted later in 2010 and (ii) deemed dividends on outstanding convertible preferred shares). Again, these projections exclude the impact of any possible acquisitions, additional of new buses and new investments in other media projects in 2010.
AI
