The Indiana, Pa.-based banking firm said yesterday it lost $3 million, or 4 cents per share, in the third quarter, hurt by soured commercial construction loans and more write-downs on investments.

The loss compared with profits of $10.2 million, or 14 cents, in the same quarter last year, and a loss of $18.6 million, or 22 cents, in the second quarter this year.

Analysts had expected the bank to earn about 7 cents a share in the most recent period.

The bank recorded a charge of $9.9 million in the third quarter on its investments in pooled trust preferred securities, a type of debt issued by financial institutions. The charge reflects banks' deferrals and defaults on interest payments.

First Commonwealth set aside $21.4 million to cover bad loans in the third quarter, up from $3.9 million a year earlier, but down from $48.2 million in the second quarter this year.

The South Side electrical construction products distributor reported a 47 percent decline in third-quarter net income. Net income was $33.6 million, or 79 cents a share, compared with $63.7 million, or $1.48 a share in the year-ago quarter. Analysts were expecting 68 cents a share. Net sales were $1.152 billion this quarter, compared with $1.628 billion in the same quarter last year. Wesco is on track this year to trim $140 million in operating costs by slashing 1,100 positions, or 15 percent of its employee base, and closing facilities.

Cecil-based coal producer Consol Energy reported net income of $87.4 million, or 48 cents a share, for the quarter ended Sept. 30, compared with net income of $90.1 million, or 49 cents per share, for the same period last year. Analysts had expected earnings of 66 cents a share on revenues of $1.096 billion. Actual revenues for the quarter were $1.095 billion, compared with $1.17 billion the same period last year.

At CNX Gas, which is 83.3 percent owned by Consol Energy, net income fell nearly half to $35.5 million, or 23 cents a share, compared with $67.4 million, or 45 cents a share, in the same quarter a year ago. Analysts had expected earnings of 27 cents a share. Revenues for the quarter were $165.7 million, vs. $216.9 million last year.

The parent company of First National Bank in Hermitage said third-quarter net income tumbled to $4.8 million, or 4 cents per share, from $23.5 million, or 27 cents, in the same three months last year. The company said its profits were hurt by $3.3 million in write-downs on investments and $5.5 million in costs tied to repaying $100 million in bailout money to the federal government in September. The bank's provision for loan losses rose to $16.5 million, up from $6.5 million in the third quarter of 2008 and $13.9 million in the second quarter this year. Results were released yesterday after the close of the stock market.

The Cincinnati financial firm said losses widened in the third quarter on higher real estate and construction loan losses and high credit costs in the recession. The bank reported a loss of 20 cents per share, compared with 14 cents a share a year ago. Analysts expected a loss of 17 cents a share. After accounting for preferred dividends, the loss was $159 million, compared with a loss of $81 million last year.

The laboratory instrument manufacturer blamed foreign currency shifts for a 2 percent decline in revenues for the third quarter to $2.53 billion compared with $2.59 billion the same period a year earlier. Net income of $221.2 million, or 53 cents per share, compared to $218.1 million, or 50 cents per share, in the year-ago quarter. Excluding certain expenses for acquisition-related assets, the company said earnings per share would have been 78 cents per share. Analysts polled by Thomson Financial Network had been looking on average for 76 cents per share.

Delta, based in Atlanta, said it lost $161 million in the third quarter, vs. a loss of $50 million in the same quarter a year ago. Revenue, including from subsidiary Northwest Airlines, fell 21 percent from a year ago.

The Seattle operator of Alaska Airlines and Horizon Air recorded an $87.6 million third-quarter profit, compared to a net loss of $86.5 million a year ago. Revenue fell 9 percent to $967.4 million from $1.07 billion a year ago.

JetBlue, based in New York, earned $15 million in the third quarter, compared with a loss of $8 million a year ago. Revenue fell 5.3 percent to $854 million.

The telecom giant said third-quarter net income dipped as revenue from traditional land lines fell faster than the company could cut costs. Earnings for the quarter were $3.19 billion, or 54 cents per share, down 1.2 percent from the same period a year earlier. Analysts had expected a profit of 50 cents per share.

The Web-based movie-rental company said it gained 510,000 subscribers during the third quarter, boosting net income for the period to $30 million, or 52 cents per share. That was up 48 percent from the same time a year ago. Revenue climbed 24 percent to $423 million. Both numbers topped analyst estimates.

The hamburger chain said third-quarter sales in restaurants opened at least a year rose 2.5 percent. The company said it earned $1.26 billion, or $1.15 per share in the quarter ended Sept. 30, vs. of $1.19 billion, or $1.05 per share a year ago. Analysts expected earnings of $1.11 per share. Revenue slid 3.5 percent to $6.05 billion, dragged down by currency fluctuations.

The Atlanta-based shipping company said net income for the three months ended Sept. 30 fell more than 43 percent to $549 million, or 55 cents a share, compared to a profit of $970 million, or 96 cents a share, a year ago. Revenue dropped almost 15 percent to $11.2 billion.

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