This Day On The Street
Continue to site
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

MVC Capital Announces Second Quarter Fiscal 2012 Results

MVC Capital, Inc. (NYSE: MVC), a publicly traded business development company that makes private equity and debt investments, today announced its financial results for the second fiscal quarter ended April 30, 2012.

As of April 30, 2012, the Company's net assets were approximately $406.3 million, or $16.99 per share, compared with net assets of approximately $407.6 million, or $17.04 per share, at the beginning of the quarter and $414.3 million, or $17.32 per share, at the end of the same period last year. During the quarter, the Valuation Committee, which is comprised of three independent directors, adjusted the fair values of nine portfolio companies, resulting in a net decrease of approximately $858,000 or $0.04 per share. In arriving at these determinations and consistent with the Company's valuation procedures and ASC 820, the Valuation Committee took into account many factors, including the performance of the portfolio companies, as well as the impact of changes in market multiples within certain sectors and fluctuations in currency valuations, particularly the Euro.

In the second quarter of 2012, the Company earned approximately $14.6 million in interest and dividend income and approximately $1.5 million in fee and other income, representing an increase in total operating income of approximately $11.6 million as compared to the same quarter in 2011. The primary reason for the increase in total operating income was a result of the recapitalization of Summit Research Labs, Inc. (“Summit”), which paid a $12 million dividend to the Company on March 7, 2012.

The Company reported net operating income of approximately $14.2 million for the second quarter, as compared to net operating income of approximately $65,000 for the same quarter in 2011. The Company continued to manage its ordinary operating expenses at comparable levels to last year. During the quarter, the Company made one follow-on investment in the amount of $48,000 in SHL Group LTD. During the six month period ended April 30, 2012, the Company made one new investment and five follow-on investments in three existing portfolio companies totaling approximately $7.4 million.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,813.39 +1.20 0.01%
S&P 500 2,088.87 -0.27 -0.01%
NASDAQ 5,116.1430 +13.3350 0.26%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs