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FIRSTFED announces dividend, record diluted EPS

PBN Staff

11/04/2002

SWANSEA – FIRSTFED AMERICA BANCORP, INC., a $2.5 billion financial services company offering a range of financial products through its subsidiaries, recently reported a quarterly dividend of $0.15 per share, payable on Nov, 15, to all shareholders of record as of Nov.1.

The company also announced record diluted earnings per share of $0.68 for the second quarter of fiscal year 2003, a 42 percent increase from last year during the same period. Diluted EPS increased 22 percent to $1.23 for the first six months of FY 2003 from $1.01 in FY 2002 during the same period.

Net income was a record $5.6 million for the second quarter of 2003, a 99.4 percent increase over last fiscal year’s $2.8 million for the second quarter. For the first six months of FY 2003, net income was $10.1 million, a 71.8 percent increase from last fiscal year’s $5.9 million for the same period.

Netegrity cuts 90 jobs
after third-quarter losses

WALTHAM – Netegrity Inc. cut 90 jobs, or about 20 percent of its work force, and will stop making its PortalMinder product after the computer-security software maker’s third-quarter loss widened.

Among those affected by the reduction are employees who developed the PortalMinder software program, which helps customers manage content and applications, spokeswoman Jennifer Menard said in an interview. Related expenses are expected to reduce fourth-quarter earnings by about $1 million to $1.5 million, the company said in a statement.

The shares of Waltham, Mass.-based Netegrity have declined 90 percent this year. The net loss widened to $66.2 million, or $1.94 a share, from $2.39 million, or 8 cents, a year earlier. Excluding amortization and impairment costs, the company had a loss of $7.9 million, or 23 cents a share. (Bloomberg News)

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