FONT-SIZE Plus   Neg

KKR Financial Holdings Q1 Profit Falls

KKR Financial Holdings LLC (KFN) reported first-quarter net income of $88.0 million or $0.48 per share, down from $93.8 million or $0.51 per share last year.

Net investment income for the quarter decreased to $37.9 million from $79.5 million a year ago, mainly due to an increase in provision for loan losses and interest expense.

Provision for loan losses for the latest quarter increased to $46.5 million from $11.7 million last year.

Total other income for the quarter increased to $78.9 million from $46.4 million in the year-ago quarter.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
As Sony Corp. prepares to launch the new PlayStation 4 Pro gaming console on November 10, several new games that are compatible with the console have also been confirmed for launch. Game developers are readying to provide PlayStation 4 Pro support for many games on PS4. Shares of Advaxis Inc. dropped more than 13 percent in pre-market activity before paring losses to just more than 5 percent after the company said that it was not able to complete the second stage of the Phase 2 GOG-0265 trial as designed due to a clinical hold that affected its clinical development programs last year. Dicks Sporting Goods Inc., one of the major sporting good retailers in the U.S., is planning to acquire Golfsmith International Holdings Inc., a specialty retailer with stores in U.S. and Canada, through a bankruptcy auction, Reuters reported. The bid would be worth $70 million and needs approval by a U.S. bankruptcy court.
comments powered by Disqus
Follow RTT