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Horizon Technology Finance posts 4Q loss

FARMINGTON, Conn. (AP) _ Horizon Technology Finance Corp. (HRZN) on Tuesday reported a fourth-quarter loss of $588,000, after reporting a profit in the same period a year earlier.

On a per-share basis, the Farmington, Connecticut-based company said it had a loss of 5 cents. Earnings, adjusted for investment costs, came to 33 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.

The investment company posted revenue of $7 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $7.2 million.

For the year, the company reported a loss of $4.9 million, or 43 cents per share, swinging to a loss in the period. Revenue was reported as $33 million.

Horizon Technology Finance shares have increased almost 6 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $11.15, a decline of slightly more than 4 percent in the last 12 months.


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


Keywords: Horizon Technology Finance, Earnings Report