Roundup: Federated Investor's profit jumps 34%; Microsoft earnings dip; more
Published: Friday, Jan. 25, 2013, 12:01 a.m.
Federated Investors' profit up 34% in quarter
Federated Investors Inc., the mutual fund management company based Downtown, said quarterly profit jumped 34 percent to $49.6 million from about $37 million the year earlier. Per-share earnings of 44 cents compared with 36 cents. Revenue increased 13 percent to almost $245 million from about $216 million, mainly from a jump in investment advisory fees. Total managed assets increased 2.7 percent to almost $380 billion as of Dec. 31, including a record $52.7 billion in fixed-income assets. Money-market assets under management were flat at $285 billion, while equity assets increased 13 percent to $35 billion.
Microsoft's 2Q earnings dip
Microsoft's earnings for the latest quarter slipped 4 percent, despite a lift from its latest version of Windows. The fiscal second-quarter results announced Thursday are the first to include Windows 8. The program is a dramatic overhaul of the Microsoft Corp. operating system that powers most PCs. Windows 8 came out Oct. 26 with slightly more than two months left in Microsoft's fiscal second quarter. Although the Windows 8 sales haven't been as impressive as investors hoped, revenue in Microsoft's Windows division climbed 24 percent from the previous year. Microsoft earned $6.4 billion, or 76 cents per share, during the final three months of the year. That was down from $6.6 billion, or 78 cents per share, a year earlier. Revenue rose 3 percent from last year to $21.5 billion.
AT&T adds customers, posts loss
The introduction of the iPhone 5 helped AT&T attract more new customers in the holiday quarter than it has in three years, but it posted a big loss because of an annual adjustment to its pension obligations. AT&T Inc. Thursday said it added a net 780,000 new customers from October to December, its best result in three years. It activated 8.6 million iPhones — a record for any company. AT&T was the first company to introduce the iPhone in 2007, and has more iPhone users than any other carrier. Dallas-based AT&T's loss was $3.86 billion, or 68 cents per share. That compares with a loss of $6.68 billion, or $1.12 per share, a year earlier, also caused by an adjustment to pension and retiree benefit obligations. Revenue was $32.6 billion, up from $32.5 billion a year ago.
• Southwest Airlines Co. said fourth-quarter earnings fell by nearly half on higher spending for fuel, labor and maintenance. The airline's revenue rose slightly, however, as the average fare climbed almost $8 higher than a year ago. Net income was $78 million, or 11 cents per share, down from $152 million, or 20 cents per share, a year earlier. Revenue ticked up 1.6 percent to $4.17 billion.
• FNB Corp., Hermitage, Mercer County, said quarterly net income jumped more than 22 percent to $29 million, or 21 cents a share, from $23.7 million, or 19 cents a share, a year earlier. The year-ago period included a $3.5 million gain from the sale of securities. Results also included a $1.7 million charge related to the 2012 closing of 20 branches connected to FNB's acquisition of Parkvale Financial Corp. last January. FNB's First National Bank operates about 90 branches in Western Pennsylvania.
• Apollo Bancorp Inc., Apollo, Armstrong County, reported quarterly net income increased nearly 14 percent to $353,000, or 71 cents a share, from $310,000, or 62 cents a share, the year earlier. Securities gains offset a decrease in net interest income. Total assets increased 3.4 percent to $151 million as of Dec. 31. Apollo Trust Co. operates five branches in Western Pennsylvania.
Other business news
• Attorney Bernadette Puzzuole was named interim president and CEO of the Pittsburgh Airport Area Chamber of Commerce on Thursday. She succeeds Sally Haas, who recently died after heading the organization for the past 14 years. Puzzuole, whose term begins Feb. 4 and lasts 12 months, is the chamber's immediate past chairman of the board.
— Staff and wire reports
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Steelers defense’s rapid decline looks similar to that of Steel Curtain’s
- Starkey: NHL stuck in stone age
- Steelers notebook: Roethlisberger comes to Haley defense again
- Pirates general manager Huntington is searching for right player, deal
- PNC plans to do away with tellers
- Woodley says he’s fine with move to right side despite numbers
- Likely $2.3B influx puts PennDOT big-ticket road projects in play
- Penguins’ Neal apologizes, vows to be better
- Pirates notebook: Polanco ruled out as Opening Day option
- Help on deck to help Jeannette deal with Monsour, nearby buildings
- Pa. Lottery’s new Penny not so lucky after all