Prime Pacific Financial Services Inc. of Lynnwood reported that its fourth-quarter profits nearly doubled over the same period in 2004. The parent company of Prime Pacific Bank reported fourth-quarter profits of $237,000, up from $123,000 last year. On a per-share basis, profits grew to 20 cents, from 11 cents. For the full year, Prime Pacific reported a profit of $747,000, up 31 percent over 2004’s profit of $570,000. Earnings per share grew to 63 cents, from 49 cents.
CombiMatrix Corp. boosts partnership
CombiMatrix Corp. of Mukilteo has expanded its partnership with INBIO, which will become the majority owner of CombiMatrix’s subsidiary in Japan. INBIO, based in Australia, will run the day-to-day operation of the subsidiary, known as CombiMatrix K.K. and expand distribution to CombiMatrix’s DNA analysis products and services in that nation.
Alaska Air Group narrows its losses
Alaska Air Group Inc. posted a smaller fourth-quarter loss Thursday as it benefited from increased traffic and fuel price hedging. For the three months ended Dec. 31, the parent of Alaska Airlines and Horizon Air narrowed its loss to $33 million, or $1.15 a share, from $44.9 million, or $1.66 a share, in the same quarter a year earlier. Excluding one-time items from hedge accounting adjustments, restructuring and other costs, the Seattle-based company earned $600,000, or 2 cents a share, in the latest quarter.
Greenspan opposes Wal-Mart bank
Federal Reserve Chairman Alan Greenspan is urging Congress to close a regulatory loophole that lets companies own a certain breed of banks, including a bank Wal-Mart Stores Inc. wants to operate in Utah. The Fed chief’s remarks take direct aim at an exemption in federal law that allows any type of company – commercial firm, foreign bank or other – to own so-called industrial loan companies in a handful of states, principally California, Nevada and Utah,. When adopted in 1987, industrial loan companies were mostly small, local institutions with limited deposit-taking and lending powers, Greenspan said.
Fluke parent sees its earnings jump
Tool manufacturer Danaher Corp. on Thursday reported a 20 percent jump in fourth-quarter profit, helped by higher sales across all of its businesses. The Washington-based maker of Craftsman tools, which also owns Everett-based Fluke Corp., reported net income of $261.6 million, or 81 cents a share, for the latest quarter, compared with $217.7 million, or 67 cents, a year before. Sales climbed 14.5 percent, to $2.26 billion from $1.98 billion.
From Herald staff and news services
Talk to us
> Give us your news tips.
> Send us a letter to the editor.
> More Herald contact information.
