American Capital Senior Floating Q4 Net Earnings Fall - Quick Facts

(RTTNews) - American Capital Senior Floating, Ltd. (ACSF), a closed-end investment management company, on Wednesday reported a fall in net earnings for the fourth quarter from last year, reflecting a sharp decline in net gains on investments.

For the fourth quarter, the company's net earnings were $2.54 million, or $0.25 per share, down sharply from $7.72 million or $0.77 per share in the year-ago period. Net earnings is the net increase in net assets resulting from operations.

Net investment income for the quarter declined to $2.49 million or $0.25 per share, from $2.84 million or $0.28 per share in the prior-year quarter.

Gross investment income was $4.39 million for the quarter, with $2.9 million, or 65.2 percent, generated from the Loan Portfolio and $1.5 million, or 34.8 percent, generated from the CLO Portfolio. This compared to gross investment income of $4.36 million in the year-ago period.

Net realized and unrealized gain on investments for the quarter was $47 thousand, compared to net gain of $4.87 million last year.

The net gain for the latest quarter was composed of $21.0 thousand of a net realized gain on sales of investments and $26.0 thousand of a net unrealized gain on the Investment Portfolio.