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Friday, January 23, 2004

First Place Financial posts2nd-quarter earnings
WARREN -- First Place Financial Corp. earned $4.33 million in its second fiscal quarter, which ended Dec. 31. This was an increase of 1 percent over the same quarter a year earlier.
The holding company for First Place Bank and other financial services companies said revenue growth offset higher expenses that were partly the result of its expansion initiatives.
Delphi Corp. reports31% earnings drop
DETROIT -- Delphi Corp., the world's largest automotive parts supplier, said fourth-quarter earnings fell 31 percent to $82 million as it continued restructuring initiatives, including 8,500 job cuts it announced in October.
Excluding $46 million in restructuring charges, Delphi said net income was $128 million, or 23 cents per share. The results were at the high end of its guidance of $110 million to $130 million and topped estimates of 21 cents per share from a consensus of analysts polled by Thomson First Call.
Revenue last quarter rose 4 percent to $7.26 billion from $7 billion a year earlier.
From Vindicator staff and wire reports