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HU Q4 Earnings Up
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Business New Haven
2/4/2002
By: BNH
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MAHWAH, N.J. - Hudson United Bancorp (NYSE: HU) last month reported increased fourth-quarter earnings on the year and said it was comfortable with analysts' estimates for 2002 earnings. Hudson, the holding company for Hudson United Bank, which has offices in Connecticut, New York, New Jersey and Pennsylvania, reported income of $25.2 million, or 54 cents per diluted share, for the quarter ended December 31. That compared with operating earnings of $22.1 million, or 45 cents per share, in the same period of 2000.
Analysts' estimates had ranged from 52 to 54 cents per share, with a mean of 54 cents per share, according to earnings tracking firm Thomson Financial/First Call.
Hudson said it was comfortable with an earnings-per-share estimate for 2002 of $2.26. The First Call estimates ranged from $2.25 to $2.33, with a mean of $2.28. The estimates exclude the net income effect of a $77 million termination payment that the company received this month.
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