BOSTON (AP) _ THL Credit Inc. (TCRD) on Thursday reported fourth-quarter net income of $7.9 million, after reporting a loss in the same period a year earlier.
The Boston-based company said it had profit of 24 cents per share. Earnings, adjusted for non-recurring costs, came to 28 cents per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 30 cents per share.
The business development company posted revenue of $20 million in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $20.4 million.
For the year, the company reported profit of $17.1 million, or 51 cents per share. Revenue was reported as $84.6 million.
THL Credit shares have increased 2.5 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $10.26, a rise of nearly 2 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 TCRD at https://www.zacks.com/ap/TCRD
Keywords: THL Credit, Earnings Report