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PrivateBancorp Q1 Net Income Rises - Quick Facts

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4/24/2012 8:14 AM ET

PrivateBancorp, Inc. (PVTB: Quote) Tuesday released financial results for the first quarter of 2012, reporting net income available to common shareholders of $10.80 million or $0.15 per share, higher than net income of $7.5 million or $0.10 per share reported for the corresponding quarter last year.

Net Revenue for the first quarter increased to $32.60 million from $127.0 million in the same quarter a year earlier. Non-interest income for the quarter increased to $27.50 million from $23.63 million reported for the year-ago quarter.

Analysts polled by Thomson Reuters expected the company to earn $0.12 per share on revenues of $126.18 million for the quarter. Analysts' estimates typically exclude special items.

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by RTT Staff Writer

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After reporting a bigger than expected increase in new orders for U.S. manufactured durable goods in the previous month, the Commerce Department released a report on Thursday that once again showed stronger than expected durable goods orders growth in the month of March. The report said durable goods orders surged up by 2.6 percent in March after jumping by a revised 2.1 percent in February. First-time claims for U.S. unemployment benefits rose by more than expected in the week ended April 19th, according to a report released by the Labor Department on Thursday, with initial jobless claims climbing further off their recent lows. The report said initial jobless claims rose to 329,000, an increase of 24,000 from the previous week's revised figure of 305,000. After giving back some ground in the previous session, stocks are likely to move back to the upside in early trading on Thursday. The major index futures are currently pointing to a higher open for the markets, with the Dow futures up by 40 points.
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