Earnings report

Share with others:


Print Email Read Later

 

• S&T Bancorp on Tuesday reported double-digit earnings gains for the fourth quarter and full year as the Indiana, Pa.-based bank set aside less money to cover bad loans. For the three months ended Dec. 31, net income was $11.9 million, or 40 cents per share, up 25 percent from $9.5 million, or 32 cents, in the same period a year earlier.

For all of 2013, net income shot up 48 percent to $50.5 million from $34.2 million in 2012, while per-share profit jumped 44 percent to $1.70 from $1.18. The provision for loan losses fell to $8.3 million last year, down from $22.8 million in 2012.

• WVS Financial, parent company of West View Savings Bank, said earnings for its fiscal second quarter ended Dec. 31 skidded 28 percent to $233,000, down from $325,000 in the same period a year earlier as revenue fell. Per-share profit dropped 31 percent, to 11 cents from 16 cents.

• II-VI reported second-quarter profit of $7.4 million, or 12 cents per share, down from $12.8 million, or 20 cents per share, for the same period last year. Revenues jumped 37 percent to $171 million, up from $125.1 million last year. Expenses related to the acquisition of two companies impacted earnings of the Saxonburg-based infrared laser technology company.

• Black Box Corp. reported third quarter profits of 6.7 million, or 42 cents per share, down from $8.5 million, or 52 cents per share, the same period last year. The Lawrence-based company's revenues dropped from $252.1 million last year to $239.7 million.

• Royal Philips, parent company of Murrysville-based Respironics, reported Tuesday that its fourth quarter beat estimates, although CEO Frans van Houten cautioned it still faces a "challenging economic environment and ongoing currency headwinds." Sales for 2013 were $31.8 billion -- down from $32.1 billion a year earlier -- with earnings before interest, taxes and amortization expenses amounting to $3.35 billion, compared with $1.51 billion in 2012. Royal Philips, which specializes in lighting, health care and lifestyle innovations, is based in Amsterdam.

• Comcast Corp. added 43,000 TV subscribers in the fourth quarter after losing more than 2 million TV customers in consecutive quarters over a half-dozen years. Net income in the three months through December rose 26 percent to $1.91 billion, or 72 cents per share, from $1.52 billion, or 56 cents per share a year ago. However, the increase was partly due to a one-time tax windfall of $158 million. Excluding the tax gain, earnings per share for the Philadelphia-based company came to 66 cents, slightly below the 68 cents per share expected by analysts polled by FactSet. Revenue rose 6 percent to $16.93 billion, beating the $16.65 billion expected by analysts.

• American Airlines reported a $2 billion loss for the fourth quarter because of $2.4 billion in special charges, mostly related to its bankruptcy reorganization and merger with US Airways. The company said Tuesday that excluding those one-time charges, American and US Airways would have earned a combined profit of $436 million, or 59 cents per share. Tuesday's results were the first from the company and were complicated by the timing of the merger, two-thirds into the quarter.

• Siemens AG said quarterly net profit rose 20 percent as the company moved past one-time charges for delays delivering high-speed trains. Net profit rose to 1.46 billion euros ($2 billion) in the fourth quarter of 2013, up from 1.21 billion euros a year ago. The Munich-based company said it was withdrawing its listing on the New York Stock Exchange.


Join the conversation:

Commenting policy | How to report abuse
To report inappropriate comments, abuse and/or repeat offenders, please send an email to socialmedia@post-gazette.com and include a link to the article and a copy of the comment. Your report will be reviewed in a timely manner. Thank you.
Commenting policy | How to report abuse

Advertisement

Create a free PG account.
Already have an account?
Advertisement