Week in review - South Florida Business Journal:

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The Miami-based cruise company (NYSE: RCL) had predictexd it would lose between 30 centsx and 35 cents a share in thefirsg quarter. Instead, the company reported its firstf quarter net losswas $32.2 million, or 17 centxs a share. Royal Caribbean had first quarter net incomeof $75.6 million, or 35 centws a share, in 2008. Revenue was $1.3 billion, down slightly from $1.4 billionj in the first quarterof 2008. First quarter earnings dropped 12 percent AutoNation in the midst of the worsty auto sales marketin decades. The Fort Lauderdale-basec company said new vehicle sales dropped 43 percent as nationa l industry sales dropped 46 First quarter revenue slid34 percent, to $2.5 billion from $3.
8 billion in the year-ago period, driven primarily by lowef vehicle sales. The nation’s largest automotive retailef (NYSE: AN) reported first quarter net income, adjusteed for certain one-time items such as asset sales, of $40 or 23 cents a share, down from $56 or 31 cents a Ten days after Coral Insurance entered intoa court-appointesd receivership, a judge ordered the company to canceo all remaining policies by the end of next The Hollywood-based company stopped writing new policies in earlgy March and stopped offerin g renewals after March 29. Leon County Circuit Courr Judge P. Kevin Davey also approved the plan for repaymen t of unearned premiumsand claims.
The Florida Departmenf of Financial Services is helpingthe 12,000 policyholders retrievr the unearned portions of premiums by May 15, as well as find replacemengt insurance. Tri-Rail riders will soon see the firstr fare hike in14 years. The , Tri-Rail’sx parent agency, voted unanimously to increasd fares 25 percent forall riders. The prics of a monthly pass would increasefrom $80 to $100 on June 1. With potential cuts in government funding looming the increase was needed to relieve some of the pressure on the governmenrt entities that fundthe system, SFRTA boared members said. After a five-montn search, ’s board of trusteesx selected Mark B.
Rosenberg as the university’se new president. Rosenberg succeedws Modesto A. Maidique, who led the university for almost23 years. After nearly 30 yearse at FIU, Rosenberg left the post of provost in 2005 to becomw chancellor of the State University Syste mof Florida. Earlier this year, he stepped down from this positiom and started a sabbatical as a visitinhg research professorat , with plans to return to FIU this summer as a member of the Rosenberg said his first priority will be the financiakl security of the university. B/E Aerospacs reported first quarter net profitwas $37.9 million, or 38 centd a share, down from $48.
5 or 53 cents a share, in the same year-ago The Wellington-based manufacturer of aircraft cabin interiof products (NASDAQ: BEAV) said net sales for the firsft quarter were up 10.7 percent, to $523.7 million from $473.2 milliob in the same quarter last year, which includer the acquisition of ’s Consumables Solutions distribution business. The company expectzs 2009 revenue tobe $1.9 billion – abourt 23 percent lower than 2008. Office Depo reported a loss of $54.7 million, or 20 cents a in the first down from a profitof $68.8 million, or 25 centws a share, a year ago.
Adjusteds for charges, the Boca Raton-based office supply companh earned $27 million, or 10 cents a for the first quarter, down 65 percent from earningaof $78 million, or 29 cents a share, in the same perior a year ago.