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TE Connectivity, Northwest Bancshares report earnings

By - Last modified: January 23, 2013 at 11:55 AM

Two corporations with a presence in the midstate reported financial results for the final three months of 2012.

Swiss electronics maker TE Connectivity Ltd. today reported net income of $277 million, or 65 cents per diluted share, for its first fiscal quarter, which ended Dec. 28, compared with net income of $260 million, or 61 cents per diluted share, for the same period a year ago.

The figures include income and losses from discontinued operations. TE Connectivity reported income from discontinued operations of $22 million in the three months ending Dec. 30, 2011, and a loss of $2 million from them a year later.

Analysts had expected earnings of 64 cents per share, according to Yahoo Finance.

TE Connectivity employs nearly 4,000 people in Central Pennsylvania. The company’s shares trade on the New York Stock Exchange under the ticker symbol TEL.

• • •

Northwest Bancshares Inc. reported results Tuesday for its fourth fiscal quarter of 2012.

The bank holding company reported net income of $16.3 million, or 18 cents per diluted share, compared with net income of $15.2 million, or 16 cents per diluted share, in the fourth quarter of 2011.

Analysts had expected income of 16 cents per diluted share, according to Yahoo Finance.

For the year, Northwest reported net income of $63.6 million, or 68 cents per diluted share, compared with net income of $64.2 million, or 64 cents per diluted share, in 2011. Though earnings decreased slightly, earnings per share increased because the company has about 6 million fewer diluted shares outstanding, Northwest said.

Northwest, based in Warren, is the parent company of Northwest Savings Bank, which has 20 midstate branches, according to the Federal Deposit Insurance Corp. Its shares trade on the Nasdaq under the ticker symbol NWBI.

 

Write to the Editorial Department at editorial@cpbj.com

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