New Mountain Finance Corporation (NYSE: NMFC) (the "Company", "we", "us" and "our") today announced its financial results for the quarter and year ended December 31, 2011 and reported fourth quarter Adjusted Net Investment Income of New Mountain Finance Holdings, L.L.C. (the “Operating Company”) of $0.30 per share. At year end, net asset value (“NAV”) per share was $13.60. The Company also announced that its board of directors declared a first quarter 2012 dividend of $0.32 per share, which will be payable on March 30, 2012 to holders of record as of March 15, 2012. The dividend declared is in-line with the Operating Company’s first quarter 2012 estimated Adjusted Net Investment Income range of approximately $9.7 - $10.0 million.
Except where noted otherwise, all financial information shown is that of the Operating Company. Also, please note that share and unit are used interchangeably.
|Selected Financial Highlights|
|(in thousands, except per share/unit data)|
|December 31, 2011|
|NAV per Share/Unit||$||13.60|
|Investment Portfolio Composition:||December 31, 2011||Percent of Total|
|Equity and Other||$||2,850||0.4%|
|Three months ended||Three months ended|
|December 31, 2011||Adjustments *||December 31, 2011|
|Net Investment Income||$||9,541||$||(271)||$||9,270|
|Net Realized and Unrealized Gain (Loss)||$||8,316||$||271||$||8,587|
|Net Increase in Capital resulting from Operations||$||17,857||$||17,857|
|Net Investment Income per Share/Unit||$||0.30|
|*Adjusted for unrecognized gains built into the portfolio held as of the date of our initial public offering (May 19, 2011).|
The strength of the Operating Company’s unique investment strategy – which focuses on acyclical “defensive growth” companies that are well researched by New Mountain Capital, L.L.C., a leading private equity firm – is underscored by continued strong credit performance, including the fact that the Operating Company has had only one non-performing loan representing less than 0.4% of the cost of all investments since its inception in October 2008.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV