KKR Financial Holdings LLC (KFN: Quote) 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
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