UPDATE 1-Allied Capital Q4 lags Street view
* Q4 investment EPS $0.00 vs est $0.05
* Interest & portfolio income down 34 pct
* Net realised losses rise 15 percent
* Not to pay dividend in 2010
Feb 24 (Reuters) - Allied Capital Corp ALD.N, which is selling itself to rival Ares Capital Corp (ARCC.O), reported quarterly profit below Wall Street estimates as interest income fell.
The struggling small business lender said it does not expect shareholders to receive dividends in 2010.
Net investment income fell to $231,000 and it broke even on a per-share basis, compared with $33 million, or 18 cents a share, a year earlier.
Analysts on average had expected the company to earn 5 cents a share according to Thomson Reuters I/B/E/S.
Total interest and related portfolio income fell 34 percent to $66.4 million.
On a net basis, the company posted a loss of $4.1 million, or 2 cents a share for the fourth quarter, compared with a year-earlier loss of $578.8 million, or $3.24 per share
Net realised losses rose 15 percent to $202.8 million.
Total operating expenses fell to $64.8 million.
In October, Allied agreed to be bought by Ares in an all-stock deal. [ID:nBNG507417]
Shares of the company were up 1 percent at $4.10 in morning trade Wednesday on the New York Stock Exchange. (Reporting by Jochelle Mendonca in Bangalore; Editing by Gopakumar Warrier)
- Ten countries scour sea for Malaysia jet lost in 'unprecedented mystery' |
- Shots fired in air during raid at Crimea naval base
- Missing Malaysian jet may have disintegrated in mid-air: source |
- Mexico kills drug kingpin reported dead years ago: official
- Pistorius vomits in court at Steenkamp autopsy details