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TE Connectivity earnings rise 68 percent; FNB Corp. earnings rise slightly

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TE Connectivity Ltd., the electronic components maker with significant midstate offices, has reported that its third-quarter earnings increased 68 percent from a year ago, while banking company FNB Corp. also reported a slight increase in its earnings.

“We had a strong third quarter with sales and (earnings per share) above the high end of our guidance. Sales were up 6 percent, sequentially driven by continued strength in our transportation segment and improving demand in our industrial and network segments,” Tom Lynch, TE Connectivity chairman and CEO, said in a statement.

Switzerland-based TE Connectivity’s net income was $335 million for the quarter that ended June 28, or 80 cents per diluted share.

Analysts had estimated EPS of 83 cents per share, according to Yahoo Finance.

TE Connectivity, with U.S. headquarters in Berwyn, Pa., has engineering and administrative office in Central Pennsylvania. The company trades its shares on the New York Stock Exchange under the ticker symbol TEL.

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FNB Corp., the parent of First National Bank of Pennsylvania, reported second-quarter earnings of $29.2 million, just a $63,000 increase from a year ago, or 0.22 percent.

The company’s earnings per diluted share were 20 cents. Analysts had estimated 21 cents per share, according to Yahoo Finance.

In 2012, First National Bank of Pennsylvania moved its regional headquarters to Harrisburg.

Mercer County-based FNB is traded on the NYSE under the ticker symbol FNB.

 

Jim T. Ryan

Jim T. Ryan

Jim T. Ryan covers Cumberland County, manufacturing, distribution, transportation and logistics. Have a tip or question for him? Email him at jimr@cpbj.com. Follow him on Twitter, @JimTRyanCPBJ.

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