CHARLOTTE, N.C. (AP) _ Capitala Finance Corp. (CPTA) on Tuesday reported fourth-quarter net income of $8.1 million, after reporting a loss in the same period a year earlier.
The Charlotte, North Carolina-based company said it had profit of 51 cents per share. Earnings, adjusted for non-recurring gains, came to 43 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.
The business development company posted revenue of $16.5 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $15.6 million.
For the year, the company reported profit of $9.2 million, or 58 cents per share. Revenue was reported as $68.3 million.
Capitala Finance shares have increased 9 percent since the beginning of the year.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CPTA at https://www.zacks.com/ap/CPTA
Keywords: Capitala Finance, Earnings Report