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New Mountain meets 4Q profit forecasts

NEW YORK (AP) _ New Mountain Finance Corp. (NMFC) on Tuesday reported fourth-quarter net income of $33.9 million, after reporting a loss in the same period a year earlier.

The New York-based company said it had profit of 46 cents per share. Earnings, adjusted for non-recurring gains, were 34 cents per share.

The results matched Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 34 cents per share.

The business development company posted revenue of $43.8 million in the period, beating Street forecasts. Four analysts surveyed by Zacks expected $42.8 million.

For the year, the company reported profit of $111.7 million, or $1.60 per share. Revenue was reported as $168.1 million.

New Mountain shares have climbed slightly more than 4 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $14.70, a rise of 18 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 NMFC at https://www.zacks.com/ap/NMFC


Keywords: New Mountain Finance, Earnings Report