I thought TCPC had a rather impressive quarter. Unfortunately this isn't a well known BDC, however it must be one of best run ones. 99.9% of the time, the quality of the results are the result of the quality of a company's management. This company apparently has great management.
I thought it was an ok quarter. I'd really like to see them focus on raising the NAV so that SPOs will generate more cash for them as a way to increase NII.
I was disappointed they didn't say what they were going to do with the unpaid dividend money.
Earnings were not impressive and, in fact, were disappointing and fell short of estimates. That is why the share price dropped the week before earnings announcement (because we are the last to know and wall street is crooked) and continues to drop. With that said, I believe TCPC will eventually rise in value. Good luck to all longs.
Actually, I thought the net investment income increase of approx. 22% in Q2/13 compared to Q2/12 coupled with an approximately 30% increase net investment income for the first six months of 2103 over the first six month of 2012 was rather impressive. I WAS a bit disappointed that the NAV increased only about 1.5% from the year end of 2012 to Q2/13. The NAV is currently about $14.94/share. The current price per share is darn close to NAV, and depending on the company, I might consider that an opportunity to buy.