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BlackRock Kelso beats 4Q profit forecasts

NEW YORK (AP) _ BlackRock Kelso Capital Corp. (BKCC) on Wednesday reported fourth-quarter net income of $2.5 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the New York-based company said it had profit of 5 cents. Earnings, adjusted for investment costs, were 26 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 22 cents per share.

The closed-end investment company posted revenue of $28 million in the period.

For the year, the company reported a loss of $84.3 million, or $1.16 per share, swinging to a loss in the period. Revenue was reported as $117.4 million.

BlackRock Kelso shares have climbed 9 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $7.60, a decline of 13 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BKCC at https://www.zacks.com/ap/BKCC

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Keywords: BlackRock Kelso Capital, Earnings Report