CIT Group

(CIT) - Get Report

posted third-quarter earnings that missed analysts' expectations by a penny, but said it continued making progress on its integration and added that credit delinquency rates were reduced.

Net income for the quarter was $156.2 million, up from $96.9 million in the year-ago period, while EPS was unchanged from last year at 60 cents. The figures include the amortization of goodwill. A

First Call/Thomson Financial

survey of 15 analysts called for earnings of 61 cents a share, including goodwill.

Before the amortization of goodwill, the finance company earned 67 cents a share in the latest third quarter.

Total managed assets increased to $54.6 billion at Sept. 30, up 2.4% from $53.4 billion at June 30 and up 6.2% from $51.4 billion at the end of the year.

Shares of CIT closed Friday up $2.81, or 20%, to $16.88.