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FS Investment meets 4Q profit forecasts

PHILADELPHIA (AP) _ FS Investment Corp. (FSIC) on Wednesday reported fourth-quarter net income of $51.9 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Philadelphia-based company said it had net income of 21 cents. Earnings, adjusted for non-recurring costs, came to 23 cents per share.

The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 23 cents per share.

The business development company posted revenue of $109 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $110.3 million.

For the year, the company reported profit of $294.3 million, or $1.21 per share. Revenue was reported as $422.8 million.

FS Investment shares have increased almost 5 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $10.80, a climb of 29 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 FSIC at https://www.zacks.com/ap/FSIC

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Keywords: FS Investment, Earnings Report