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Triangle Capital tops Street 4Q forecasts

RALEIGH, N.C. (AP) _ Triangle Capital Corp. (TCAP) on Wednesday reported fourth-quarter profit of $7.3 million.

The Raleigh, North Carolina-based company said it had net income of 18 cents per share. Earnings, adjusted for investment costs, were 42 cents per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.

The business development company posted revenue of $31.2 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $29.4 million.

For the year, the company reported profit of $34.3 million, or 94 cents per share. Revenue was reported as $113.7 million.

Triangle Capital shares have increased almost 9 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $19.98, a rise of 15 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 TCAP at https://www.zacks.com/ap/TCAP

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Keywords: Triangle Capital, Earnings Report