American Capital Ltd. (ACAS) reported that its fourth-quarter net earnings were $594 million, or $1.73 per share, up from $381 million or $1.08 per share in the same quarter last year. The results reflect a $428 million deferred tax benefit recognized in the fourth quarter.
Net operating income for the quarter was $229 million, or $0.67 per share, up from $67 million or $0.19 per share last year.
Total operating income rose to $160 million from $143 million in the year ago quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.20 per share on revenues of $129.72 million. Analysts' estimates typically exclude special items.
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