TICC Capital Net Investment Income Rises

(RTTNews) - TICC Capital Corp. (TICC) Monday reported fourth-quarter net investment income of $17 million or $0.32 per share, an increase from $9.4 million or $0.23 per share last year.

Excluding the impact of a capital gains incentive fee accrual reversal of about $0.7 million, core net investment income for the quarter was $16.2 million or $0.30 per share. This compares with $10.3 million or $0.25 per share reported a year ago.

On average, nine analysts polled by Thomson Reuters estimated earnings of $0.28 per share for the quarter. Analysts' estimates typically exclude special items.

Total investment income for the quarter was $30.5 million, compared with $20.4 million a year ago.

Analysts projected revenue of $28.4 million for the quarter.

The company has declared a distribution of $0.29 per share for the first quarter of 2014.

Greenwich, Connecticut-based TICC Capital operates as a closed-end, non-diversified management investment company.