This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
HOUSTON, Aug. 9, 2010 (GLOBE NEWSWIRE) -- NGP Capital Resources Company (Nasdaq:NGPC) (the "Company") today announced its financial results for the second quarter ended June 30, 2010.
Highlights for the quarter ended June 30, 2010:
Stockholders' equity: $241.7 million
Net asset value per share: $11.18
Net increase in stockholders' equity (net assets) from operations: $3.9 million
Net investment income: $3.3 million
Net unrealized gain (loss) on investments: $0.6 million
Dividends declared per common share: $0.17
Portfolio and Investment Activity:
Total invested in portfolio companies at June 30, 2010: $237.1 million
Number of portfolio companies at June 30, 2010: 15
Portfolio and Investment Activity
The Company did not add any new companies to its portfolio during the second quarter of 2010. At June 30, 2010, the Company's targeted investment portfolio consisted of fifteen portfolio companies totaling $237.1 million. The Company had commitments to fund an additional $5.4 million on total committed amounts of $242.5 million.
The weighted average yield on targeted portfolio investments, exclusive of capital gains, was 7.28% at June 30, 2010. The weighted average yield on investments in corporate notes was 5.82%, and the weighted average yield on investments in cash and cash equivalents was 0.51%. The weighted average yield on the Company's total capital invested at June 30, 2010 was 5.21%.
Operating Results – Three months ended June 30, 2010
Investment income totaled $6.0 million for the quarter ended June 30, 2010, with $5.2 million attributable to interest from the Company's targeted portfolio investments and $0.8 million net income attributable to investments in corporate notes, cash equivalents and fee income from third parties and affiliates. Operating expenses for the quarter ended June 30, 2010 were $3.0 million and included $1.4 million of advisory and management fees, $0.3 million of interest expense and credit facility fees and $1.3 million of general and administrative expenses. The resulting net investment income, including a $0.2 million benefit for income taxes, was $3.3 million.