Levitt Corporation (NYSE:LEV) today announced financial results for the fourth quarter and year ended December 31, 2007. For the fourth quarter 2007, Levitt Corporation ("Levitt� or "the Company�) reported a net loss of ($8.3) million, or ($0.09) per diluted share, compared with a net loss of ($10.7) million or ($0.53) per diluted share in the fourth quarter of 2006. For the full year ended December 31, 2007, Levitt reported a net loss of ($234.6) million, or ($6.00) per diluted share, compared to a net loss of ($9.2) million, or ($0.46) per diluted share, for the year ended December 31, 2006. The fourth quarter results include various expenses related to the bankruptcy of our homebuilding subsidiary, Levitt and Sons. The 2007 year end results includes impairment charges of $217.6 million related to the Levitt and Sons inventory of real estate compared to $36.8 million in 2006.

Xerium cancels dividend, shares dive

Shares of Xerium Technologies plunged 74 percent Tuesday after the Youngsville company said it was staring at a possible bankruptcy.Xerium, whose sales of equipment used in paper production have been sluggish, said it was taking several steps aimed at avoiding a bankruptcy filing.The company canceled its dividend and will use the cash to pay down debt, which was $647 million as of Sept. 30. It's also seeking a private sale of stock to investors to raise money and is talking to lenders about making changes to its credit agreement."The management team is focused on resolving this near-term issue," CEO Stephen R. Light said.The stock market's dramatic reaction was understandable: Xerium's announcement followed investment bank Bear Stearns' collapse because of the credit crunch, analyst Ned Borland of Next Generation Research said.

GAMCO Reports Record Results for 2007

GAMCO Investors, Inc. (GAMCO) (NYSE: GBL) announced full year results for 2007. Total revenues rose 11.8% to a record $292.4 million for 2007 from $261.5 million in 2006. Fully diluted earnings were a record $2.79 per share versus the restated $2.49 per share in 2006. Net income increased 10.6% to a record $79.6 million from $71.9�million in 2006. The fourth quarter ended December 31, 2007 also had record revenues of $89.0 million, or 7.9% higher than $82.5 million in the fourth quarter of 2006. Operating income before management fee was up 21.9% to $42.5 million from $34.8 million. Net income, exceeded only by the record 2006 fourth quarter, was $24.1 million or $0.84 per fully diluted share versus net income of $27.0 million or $0.94 per fully diluted share in the year ago quarter. Assets Under Management � Year-end Record $31.0 Billion at December 31st Assets Under Management (AUM) were $31.0 billion as of December 31, 2007, 10.4% higher than December 31, 2006 AUM of $28.1 billion and 2.0% lower than September 30, 2007 AUM of $31.6 billion.