Small business loans down
The U.S. Small Business Administration has supported more than $29 billion in lending to small businesses in 2013, according to a report issued Tuesday. The 54,106 loans this year are down from 53,848 loans totalling $30.25 billion in fiscal year 2012.
Alloy producer strikes deal
Universal Stainless & Alloy Products said it will supply melting and forging capacity to Haynes International in exchange for the Kokomo, Ind., high-performance alloy producer's help with making advanced nickel-based alloys.
FNB offers common stock
FNB Corp. said Tuesday that it priced an offering of 4.1 million shares of common stock at $12.25 per share. The offering is expected to close on Nov. 1.
* Consol Energy Inc. on Tuesday reported a net loss of $63.7 million, or 28 cents per share, for the third quarter. This was the company's fourth consecutive losing quarter. This time last year, Cecil-based Consol posted a loss of $11.4 million, or 5 cents per share. Tuesday's earnings report, released two days ahead of schedule, came one day after a $3.5 billion deal announcement that will transform the company into an oil and gas firm first and a coal producer second. Revenue and other income was $1.2 million, nearly flat from the same time last year.
* S&T Bancorp on Tuesday reported earnings for the third quarter slipped 3 percent, to $12.2 million from $12.6 million in the same three months last year. Per-share profits fell 5 percent to 41 cents from 43 cents. Net interest income, essentially profit on loans, rose 4 percent to $35.3 million from $33.8 million. Non-interest income declined 15 percent to $12.5 million from $14.7 million. The Indiana, Pa.-based bank also announced a 7 percent increase in the quarterly dividend to 16 cents per share, up from 15 cents, payable Nov. 29 to shareholders of record Nov. 15.
* II-VI on Tuesday reported first-quarter earnings of $9.7 million, or 15 cents per share, compared to $12.7 million, or 20 cents per share, during the same period last year. The Saxonburg-based laser and infrared technology company's revenues increased 14 percent from the same period last year from $132.3 million to $151.2 million. II-VI shares closed Tuesday at $18.18 per share, down 4.32 percent.
* Black Box Corp., a Lawrence-based digital communications company, announced second quarter net income of $5.6 million, or 35 cents per share, down from $7.1 million, or 43 cents per share the same period last year. Company revenues dropped to $246.8 million, a 5 percent decrease from $260.2 million the same period last year.
Also in business ...
The Conference Board said Tuesday that its index of consumer confidence dropped to 71.2 in October, the lowest level since April. ... A decline in food costs helped hold down wholesale prices in September, contributing to a 0.1 percent decline. ... Retail sales dipped 0.1 percent in September, the Commerce Department said Tuesday.
From staff and wire reports