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Solar Capital: 4Q Earnings Snapshot

NEW YORK (AP) _ Solar Capital Ltd. (SLRC) on Thursday reported fourth-quarter net income of $8.9 million.

On a per-share basis, the New York-based company said it had profit of 21 cents. Earnings, adjusted for investment costs, were 44 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.

The business development company posted revenue of $38.2 million in the period.

For the year, the company reported profit of $66.9 million, or $1.58 per share. Revenue was reported as $153.5 million.

Solar Capital shares have climbed 11 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $21.28, a climb 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 SLRC at https://www.zacks.com/ap/SLRC