THE VINDICATOR, YOUNGSTOWN
First Place Financiallists quarter's earnings
WARREN -- First Place Financial Corp., the parent company of First Place Bank, earned $4.8 million, or 34 cents a share, in its second fiscal quarter, which ended Dec. 31. In the same quarter a year earlier, it lost $3.1 million, or 34 cents a share, because of merger expenses.
Bond rating increasesfor UPMC Horizon
FARRELL, Pa. -- Standard & amp; Poor's has raised UPMC Horizon's bond rating. Citing "an improved financial profile," the bond rating service said the hospital system's bonds will carry an "A minus" rating instead of "Triple B."
The Standard and Poor's announcement said the hospital's financial outlook is stable, reflecting the strength of membership in the UPMC Health System and the anticipation of continued solid operating performance and a stable balance sheet. Operating revenues went from a $3 million loss in fiscal 1999 to a $2.7 million profit in fiscal 2000 and a $2.1 million profit in fiscal 2001, the rating agency said.
Parker Hannifin Corp.reports earnings
CLEVELAND -- Parker Hannifin Corp., which has a foundry and hydraulic-pump-making plant in Youngstown, earned $29.1 million, or 25 cents a share, on sales of $1.44 billion in its second fiscal quarter which ended Dec. 31. It earned 78.3 million, or 68 cents a share, in the same quarter a year earlier.
From Vindicator staff and wire reports