Investment company Solar Capital Ltd. (SLRC) Monday reported earnings of $115.8 million or $3.11 per share for fiscal year 2012, compared with $61.3 or $1.68 per share in the prior year.
Total investment income for the year increased to $153 million from $138.9 million last year.
Net investment income for the year was $81.9 million or $2.20 per share, almost unchanged from a year ago.
Excluding non-recurring expenses of $7.3 million relating to the company's new $525 million credit facility and $75 million senior secured notes issuance, net investment income for the year would have been $87.8 million or $2.36 per share.
Analysts polled by Thomson Reuters estimated earnings of $2.18 per share for the year on revenues of $151.72 million for the year. Analysts' estimates typically exclude special items.
Net asset value (NAV) per share of $22.70 at December 31, 2012, increased from $22.02 a year ago.
"During 2012, we took advantage of the heated conditions in the capital markets to reset our capital structure, and we remained conservative on the investment side. We believe this approach should fortify long-term shareholder value," said CEO Michael Gross.
For the fourth quarter, the company reported earnings of $23.3 million or $0.60 per share, and net investment income of $24.2 million or $0.63 per share.
Analysts on consensus estimated earnings of $0.59 per share for the quarter.
The company declared a quarterly dividend of $0.60 per share, payable on April 2 to stockholders as of March 21. The company expects the dividend to be paid from taxable earnings with specific tax characteristics reported to stockholders after the end of the 2013 calendar year.
Shares of the company are gaining about 3.6 percent in after-hours trading on the Nasdaq.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.