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TE Connectivity, Burnham Holdings report quarterly earnings

By - Last modified: April 24, 2013 at 11:54 AM

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Two companies with midstate operations recently reported results for its first three months of 2013.

TE Connectivity Ltd. today reported net income of $278 million, or 65 cents per diluted share, compared with net income of $257 million, or 60 cents per diluted share, in the same three months of 2012. The period is the second quarter of TE Connectivity’s fiscal year.

Excluding one-time items, TE Connectivity reported adjusted earnings of $323 million, or 76 cents per diluted share. Analysts had expected earnings per share of 71 cents, according to Yahoo Finance.

Based on the strong quarterly performance, the company raised its full-year guidance slightly, forecasting adjusted earnings per share between $3.10 and $3.22.

TE Connectivity is a Swiss company with a manufacturing presence in the midstate. Its shares trade on the New York Stock Exchange under the ticker symbol TEL.

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Burnham Holdings Inc. on Monday reported net income of $623,000, or 14 cents per diluted share, compared with a loss of $947,000, or 21 cents per diluted share, in the first quarter of 2012.

The company said it had its highest first-quarter sales in five years.

The Lancaster-based firm is the parent company of 14 subsidiaries that make boilers and heating, ventilation and air-conditioning equipment. Its shares trade over the counter under the ticker symbol BURCA.

Write to the Editorial Department at editorial@cpbj.com

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