Wednesday, September 7, 2011

With housing market in turmoil, TOUSA, Levitt Corp. lead losses - South Florida Business Journal:

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(NYSE: TOA), a Hollywood-based home builder, had the biggest loss - $132 milliojn on revenue of $565.7 million, comparesd with profits of $67.6 millionj on revenue of $621.3 million in the year ago quartert - a nearly $200 million swing in earnings. The companhy reached a 52-week high of $12.40 last September and was tradingfat $2.91 on Aug. 21. Publicc companies have 45 days after the end of the quarter to fileearningds reports, which means the filing deadline was Aug. 14 for companiese whose quarter endedJune 30. Fort Lauderdale-based (NYSE: LEV) had the second-biggestt loss at $58.1 million, down from a year-ago loss of based on earnings reportedon .
Some developerd have asked the SEC for more time to file so they can figurre out the value of holdings that had been hammered by changes inmarket conditions. The housing downturm is starting to ripple into buildingsupplies companies. Pompanoi Beach-based (NASDAQ: IPII) said its earning s dropped 99 percent as demans for its products slipped in Florida becausde of a decline innew construction. The company earned $229,000 as revenud slipped to $30.1 million from $40.5 million. Whilr housing-related industries stumbled, companies in the health care sector improvefd during a period ofcontinued acquisitions. (NASDAQ: CCRN) shareds increased 25 percent, from $4.4 milliomn to $5.5 million.
The company said the increase reflecteds the continued success of its travel nursew staffing business and the growtn of its clinical trialsservice business, which was fueled by its purchaser of and Metropolitan The Boca Raton-based staffing firm also acquirexd in July, and said it expectss 2007 pro forma revenue from its clinicalo trials services businesses to be about $100 million. MRN), also based in Boca Raton, saw its seconx quarter earnings increase42 percent, while its revenuew declined slightly.
It bough t InteliStaf for $92 million in cash a day afterd the end ofthe (NYSE: PDX), a Fort Lauderdale-based newborn, maternal-fetalk and pediatric physician subspecialty firm, said its earnings were up 8 On Aug. 20, it announced the acquisition of a Seattlephysician group. (NASDAQ: NOVN) said its second quarter earning jumped 130 percentto $7.6 driven by sales of its ADHD patcbh and estrogen patch, a joint venturw with New Jersey-based Noven bought on Aug. 15 for $125 Boca Raton-based (NASDAQ: NABI) narrowed its loss 61 percent, to $5.3 millionm from $13.7 million, as it did $11.99 million in antibody sales and $8.7 milliob in Nabi-HB product sales.
The companh created two stand-alone business Nabi Pharmaceuticals and Nabi Coral Gables-based developing pharmaceutical company CPRX) saw its second quarter loss grow more than 200 However, at the quarter's end, Catalystf said it had $17.9 millionm in cash and cash equivalents and no long-term (NYSE: FPL) brought in the biggest year-over-year dollar with a $169 million increasre in earnings, despite the Juno Beach-based company's estimatedd $50 million loss to "th e negative impact of weather," includingb cooler days and a weak wind The company earned $405 million.
Miami-based VGR), which indirectly owns cigarette and real estat operations through LiggettGroup LLC, Vectofr Tobacco and New Valley LLC, made the trip from red to blaclk with earnings of $21.4 million in its second compared with a loss of $2.7 in the year-agop quarter. South Florida's cosmetic companies, (NASDAQ: RDEN) and (NASDAQ: also ended the quarter smellinh sweet. Elizabeth Arden, which ended its fourth quarter, went from red to blacl with earningsof $9.9 Parlux shrank its first quarter loss by 99 to $95,628 from $14.1 million.

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