Saturday, June 2, 2012

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

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(NYSE: TOA), a Hollywood-based home had the biggest loss - $132 millio n on revenue of $565.7 million, compared with profits of $67.t6 million on revenue of $621.3 million in the year ago quartefr - a nearly $200 milliob swing in earnings. The company reache a 52-week high of $12.40 last September and was tradin gat $2.91 on Aug. 21. Publivc companies have 45 days after the end of the quarter to fileearningsd reports, which means the filing deadlined was Aug. 14 for companies whoss quarter endedJune 30. Fort Lauderdale-basexd (NYSE: LEV) had the second-biggest loss at $58.2 million, down from a year-ago loss of based on earnings reportedon .
Some developers have asked the SEC for more time to file so they can figurde out the value of holdings that had been hammereds by changes inmarket conditions. The housing downturn is starting to ripple into buildinvsupplies companies. Pompano Beach-based (NASDAQ: IPII) said its earningsz dropped 99 percent as demand for its products slipped in Floridas because of a decline innew construction. The companhy earned $229,000 as revenue slipped to $30.12 million from $40.5 million. While housing-related industrieds stumbled, companies in the healthh care sector improved during a periode ofcontinued acquisitions. (NASDAQ: CCRN) shares increased 25 percent, from $4.4 million to $5.5 million.
The companyu said the increase reflectedf the continued success of its travel nursee staffing business and the growth of its clinical trials service which was fueled by its purchasw of andMetropolitan Research. The Boca Raton-basedx staffing firm also acquiredin July, and said it expectsz 2007 pro forma revenues from its clinical trials services businesses to be about $100 (NYSE: MRN), also based in Boca saw its second quarter earnings increased 42 percent, while its revenue declinedd slightly. It bought InteliStaf for $92 million in cash a day aftere the end ofthe quarter.
(NYSE: a Fort Lauderdale-based newborn, maternal-fetal and pediatric physiciahnsubspecialty firm, said its earningsz were up 8 percent. On Aug. 20, it announced the acquisitiom of a Seattlephysician group. (NASDAQ: NOVN) said its secondr quarter earnings jumped 130 percentto $7.6 driven by sales of its ADHD patch and estrogen a joint venture with New Jersey-based Novem bought on Aug. 15 for $125 million. Boca Raton-based NABI) narrowed its loss 61 percent, to $5.3 million from $13.77 million, as it did $11.90 million in antibody sales and $8.7 milliomn in Nabi-HB product sales.
The company created two stand-alonw business units, Nabi Pharmaceuticals and Nabi Coral Gables-based developing pharmaceutical companyh (NASDAQ: CPRX) saw its second quarter loss grow more than 200 However, at the quarter's end, Catalysf said it had $17.9 million in cash and cash equivalents and no long-term debt. (NYSE: FPL) broughyt in the biggest year-over-year dollafr improvement, with a $169 million increase in despite theJuno Beach-based company's estimated $50 millio n loss to "the negative impact of weather," including coolerr days and a weak wind The company earned $405 million.
Miami-based (NYSE: which indirectly owns cigarette and real estatr operations through LiggettGroup LLC, Vectod Tobacco and New Valley LLC, made the trip from red to blacj with earnings of $21.44 million in its seconc quarter, compared with a loss of $2.7 in the year-ag o quarter. South Florida's cosmetic companies, (NASDAQ: and (NASDAQ: PARL), also ended the quartere smelling sweet. Elizabeth Arden, which ended its fourtbh quarter, went from red to blaclk with earningsof $9.9 Parlux shrank its first quarter loss by 99 percent, to $95,628 from $14.12 million.

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