Progenics Pharmaceuticals Inc., an Eastview company that is about to start marketing a drug for the treatment of constipation in patients who are on certain pain relievers, lost $15.5 million, or 52 cents a share, during the first quarter of this year.

The loss widened from the $10.4 million, or 40 cents a share, reported for last year’s first quarter, the company said this morning.
Revenues dropped to $14.8 million from $17.6 million.

Most of the revenue came from reimbursements Progenics got from drug giant Wyeth for work Progenics did developing a drug under an agreement the company’s have.

The U.S. Food and Drug Administration last month approved the company’s application to market Relistor for patients on pain medications for advanced illnesses. Some of those pain medications cause constipation that cannot be relieved with laxatives.
Progenics is also testing a drug for the treatment of the AIDS virus.

The chief executive of Barr Pharmaceuticals Inc., which has research operations in Rockland County, said this morning the company’s first-quarter earnings were disappointing but will improve later in the year.

The company, the parent of Barr Laboratories Inc., earned $23 million, or 21 cents a share, in the quarter that ended in March. A year earlier, the company earned $12 million, or 11 cents a share.

On an adjusted basis that does not comply with generally accepted accounting principles, the company earned 57 cents a share, down from 73 cents last year.

Revenues were $608 million, up from $597 million.

Bruce L. Downey, the company’s chairman and chief executive, said: “While our results for the first quarter did not meet our expectations, we believe that these results will improve in the second half of the year and demonstrate the value of expanding our operations and markets outside the U.S.”

He said the company had strong sales in Germany, Russia and Poland.

Jarden Corp., the consumer products company based in Rye, said this morning its first-quarter profit more than tripled to $4.7 million or 6 cents a share.

A year earlier, the company earned $1.4 million, or 2 cents a share.

The company, which markets Rawlings sporting goods, Mr. Coffee machines and Coleman camping equipment, also reported its results on a basis that does not comply with general accepted accounting principles. On that basis, Jarden’s adjusted net income was $16.5 million, or 22 cents a share, compared with $17.1 million, or 24 cents a share, last year.

“While the first quarter is traditionally Jarden’s seasonally smallest quarter, our performance was in line with our expectations and a good start to achieving our full-year outlook,” Martin E. Franklin, the company’s chairman and chief executive, said in a statement.

He said the poor economy is hurting consumer confidence and retail sales, but the company’s Outdoor Solutions segment still grew its sales by 3.6 percent on a comparable basis.

Nutrition 21 Inc., the Purchase-based company that markets nutritional supplements, lost $8.2 million during the quarter that ended in March, compared with a loss of $2.2 million a year earlier.

On a per-share basis, the company lost 13 cents during this year’s quarter, the third quarter of its fiscal 2008. A year earlier, the loss was 4 cents a share.

This year’s results included $3.2 million in one-time expenses, including a provision for obsolete inventory, a provision for possible legal settlements and costs associated with the resignation of former chief executive Paul Intlekofer, the company said this morning.

Revenues dropped to $10.8 million, from $15.8 million. Revenues in last year’s quarter included a large one-time sale of Selenomax High Selenium Yeast. Without that sale, revenues would have been $13.2 million.

Emisphere Technologies Inc., the biopharmaceutical company with research and development operations in Eastview, lost $3.9 million during the first quarter, matching its loss from the first quarter of last year.

On a per-share basis, this year’s loss was 13 cents, compared with 26 cents last year.

The company’s operating loss narrowed to $6.5 million from $7.1 million.

Emisphere, which has its headquarters in Cedar Knolls, N.J. does not have a marketable product yet but is seeking to introduce an oral form of vitamin B-12 that delivers high dosages of the nutrient during the second half of this year.

Universal American Corp., the health and life insurer in Rye Brook reported last night it lost $46 million, or 50 cents a share, during the first quarter, largely because of impairments on its portfolio due to the subprime mortgage crisis.

The company said the loss includes $29.8 million from the subprime impairments.

During the first quarter of last year, the company had a profit of $4.4 million, or 7 cents a share.

The operating loss for the quarter was $16.7 million, or 18 cents a share, compared with an operating profit of $3.1 million, or 5 cents a share, during the first quarter of last year.

Revenues rose 98.1 percent to $1.2 billion. Not counting revenues from the MemberHealth business that Universal bought last September, revenues were up 24 percent.

“The results of the first quarter were mixed but contained encouraging indicators for the balance of 2008 and beyond, Richard Barasch, the company’s chairman and chief executive, said in a statement.

The company said in March that it would reduce the value of some of its subprime holdings to account for the reduced value of the assets. Universal said it took the action after consulting with its auditors.

Tal International Group Inc., which leases freight containers, lost $3.8 million, or 12 cents a share, during the first quarter, compared with a profit of $11.1 million, or 33 cents a share, a year earlier. Adjusted pre-tax income was $25.9 million, an improvement over the $20.4 million reported last year. Revenues were up to $101.1 million from $79.6 million.

Acorda Therapeutics Inc., the pharmaceutical company in Hawthorne, reported this morning that it lost $16.43 million, or 54 cents a share, during the first quarter, compared with a loss of $7.5 million, or 32 cents, a year earlier.

Net sales of the company’s product, Zanaflex, grew to $11.49 million from $8.31 million.

Zanaflex is a treatment for involuntary muscle movements caused by multiple sclerosis and spinal injuries. The company is also seeking to develop Fampridine-SR, which would also be for people with multiple sclerosis.

Research and development expenses rose to $9.59 million from $3.24 million. Sales and marketing expenses rose to $10.2 million from $6.97 million.

Acorda shares were trading at $21.79 this morning, up 3 cents.

A decline in the production of recreational vehicles helped drive down first-quarter sales and profits at White Plains-based Drew Industries Inc.

The company earned $9.1 million, or 41 cents a share, during the quarter that ended in March, a 5 percent drop from the profit of $9.59 million, or 44 cents a share, during the first quarter of last year.

Sales dropped 8 percent to $159.15 million.

The company said that industry-wide wholesale shipments of travel trailers and fifth-wheel RVs were down 8 percent. Industry production of manufactured homes dropped 3 percent.

The company supplies parts for RVs and manufactured homes.

Leigh J. Abrams, the company’s president and chief executive, said steps the company took last year to cut costs helped in the just-completed quarter. But he said the company continues to face “profit pressure” as raw material costs have increased sharply this year.

“Assuming the cost of raw materials remains at these high levels, these cost increases will have an annualized effect on our cost of sales of $60 million to $70 million,” he said. “However, we are currently implementing price increases with customers to help offset these price increases.”

The company’s shares were trading at $23.53 at 9:50 a.m., up 78 cents.

BioScrip Inc. of Elmsford, a specialty pharmaceutical health care business, lost $500,000, or a penny a share, during the first quarter, compared with a loss of $1.3 million, or 4 cents a share, during the first three months of last year. The company said Friday its operating profit was $185,000, an improvement over the $136,000 from last year. Revenues rose to $327.5 million from $296.2 million.

IntegraMed America Inc., a Purchase-based company that runs fertility centers and vein clinics, earned $655,000, or 8 cents a share, during the first three months of this year, an improvement over the $615,000, or 7 cents a share, in profit during the first quarter of 2007. The gain came despite a $495,000 negative swing related to higher debt levels from an acquisition. The company said the results also include an increase in its tax rate, which was 41 percent, up from 33 percent. The company’s shares were trading at $9.80, down 3 cents, shortly after markets opened this morning.

Regeneron Pharmaceuticals Inc. of Eastview lost $11.6 million, or 15 cents a share, during the first quarter, compared with a loss of $29.9 million, or 46 cents a share, a year earlier, the company reported this morning.

Revenues rose to $56.4 million from $15.8 million.

The company got approval to market its first product, Arcalyst, in February, and has several product candidates under development.

Regeneron shares were trading at $19.57, down 5 cents, this morning. The shares have dropped 29 percent the past year.

Montebello-based Provident New York Bancorp, the parent company of Provident Bank, said it earned $5.1 million, or 13 cents a share, during the second quarter of its fiscal 2008, up from $4.4 million, or 11 cents a share, a year earlier. The company said its net interest margin was 3.89 percent, up from 3.5 percent. Efforts to control expenses resulted in an increase of non-interest expense of less than 2 percent.

Strong international sales and revenue from defense contracts helped drive first-quarter profit at Harrison-based ITT Corp. up nearly 23 percent to $171.9 million from $140 million, the company reported this morning.

On a per-share basis, the company, which makes night-vision goggles for the military, water pumps and numerous other sophisticated products, earned 94 cents, compared with 76 cents the first quarter of last year.

Revenues rose to $2.8 billion from $2.07 billion.

The company generated more than $185 million in free cash flow, nine times as much as a year earlier.

ITT, which plans to move its headquarters to White Plains, now expects to take in $11.4 billion to $11.5 billion in revenue for all of 2008. That would be a 27 percent increase over 2007.

The company also expects earnings from continuing operations, not counting special charges and gains, to be in the range of $4 to $4.10 a share. That would be 18 cents higher from the mid-point of its last guidance and a 23 percent increase over 2007.

Rising commodity and fertilizer prices helped drive earnings at Bunge Ltd., the agricultural and food company based in White Plains, up to $289 million, or $2.10 a share, during the first quarter, compared with $14 million, or 5 cents a share, a year earlier, the company reported this morning.

Sales rose 70 percent to $12.47 billion from $7.34 billion.

The company, which processes oilseeds and sells fertilizer, margarine and other products, reported large sales increases in all four of its business segments.

Agribusiness sales rose 65 percent to $8.86 billion. Demand for the products remained strong despite higher prices, the company said.
Fertilizer sales nearly doubled to $1.19 billion. Sales of edible oil products, such as margarines, shortenings and mayonnaise, rose 72 percent to $1.93 billion.

Sales in the company’s smallest business segment, milling products, rose 89 percent to $486 million.

The performance prompted the company to raise its 2008 profit forecast to $7.10 to $7.40 a share, up from a previous estimate of $6.01 to $6.30.

Alberto Weisser, the company’s chairman and chief executive, said the high prices reflect strong demand for certain products. For instance, the government estimates that world demand for soybean meal will rise 6 percent this year, he said.

But he added: “A volatile, high-price environment presents some challenges, however. It creates demands on working capital and leads to inflationary pressures that can influence national policy decisions.”

LeCroy Corp., the Chestnut Ridge company that provides oscilloscopes, reported this morning that it earned $700,000, or 5 cents a share, during the quarter that ended in March, turning around a loss of $3.9 million, or 34 cents a share, a year earlier. Revenues were up to $40.6 million from $39.3 million.

The figures were reported on a basis that complies with general accepted accounting principles.

On a basis that doesn’t comply with those principles, LeCroy earned $2.1 million, or 17 cents a share, during the just-completed quarter, the third quarter of its fiscal 2008. A year earlier, the company earned $800,000, or 7 cents a share.

Tom Reslewic, LeCroy’s president and chief executive, said the company’s distribution of its products improved sales.

The company sells sophisticated devices that measure the strength of signals in computer chips.

Jarden Corp. said today it expects to meet or exceed earnings estimates for the first quarter.

Analysts predict the Rye-based company will earn 20 cents a share for the quarter that ended March 31, based on a consensus estimate of five analysts provided by Zacks Investment Research.

The maker of appliances and other consumer products reported net sales for the quarter of $1.2 billion, an increase of about 47 percent above the same period last year.

Jarden said its best-performing unit was its outdoor-products unit, K2, which it acquired last year. Other business segments saw a decline, it said.

Jarden products include familiar household names such as Mr. Coffee and Sunbeam appliances, Ball canning goods, and Bicycle and Bee brands of playing cards.

Jarden is scheduled to report its first-quarter earnings May 8.

Shares of the company fell 65 cents to $20.66 each in trading today.

ITT Corp. of White Plains said this morning it expects its first-quarter earnings to be higher than it previously predicted.

The company, which makes pumps and night-vision goggles for the military, said the profit will be higher than 80 to 82 cents a share for the quarter that ended in March.

ITT said it also expects to earn more than the $3.80 to $3.95 a share it previously forecast for the full year. The company will report its first-quarter earnings April 25.

The company also announced that Hank Driesse, 64, is taking over leadership of its defense business on an interim basis. He replaces Steve Gaffney, 49, who has decided to leave the company to take a job at a private-equity firm.

Questar Assessment Inc., a Brewster-based educational products company, reported a net loss of $1.66 million during its fiscal first quarter, compared to a net loss of $444,433 a year earlier. Revenues totaled $4.9 million, down from from $9.6 million a year earlier.

Haights Cross Communications Inc., a White Plains-based educational and library publisher, reported a net loss of $16.4 million during the fourth quarter, less than the net loss of $22.3 million a year earlier.

Revenue of $57.5 million was up 5.1 percent over a year earlier as the company benfited from growth in its test preparation, K-12 supplemental education and medical education businesses. In January, Haights Cross said it had completed a comprehensive review of its strategic alternatives and finalized plans to offer for sale all of its business assets.