This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

MVC Capital Announces Third 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 third fiscal quarter ended July 31, 2012.

Third-Fiscal Quarter 2012 Financial Highlights

  • Interest and dividend income of $2.8 million, compared with $2.5 million in Q3 FY 2011
  • Fee and other income of $1.2 million, compared with $1.0 million in Q3 FY 2011
  • Net operating income of $2.1 million, compared with a loss of $34,000 in Q3 FY 2011
  • Paid quarterly dividend of $0.12 per share; 29 th consecutive quarterly dividend
  • Completed $1.5 million debt investment in Biovation Holdings Inc.

"During the quarter, MVC continued to execute against our business strategy. Excluding negative fluctuations in the Euro versus the US dollar, on an operational basis, a good portion of our investments delivered strong performance during the period," said Michael Tokarz, Chairman and Portfolio Manager. "With the additional cash from the sale of our stake in SHL Group, I am confident our greater liquidity will provide us with additional flexibility to pursue yielding investments, paying down our debt and/or buying back shares.”

Third-Fiscal Quarter 2012 Results

(Unaudited) (in thousands, except per share data)   Qtr 3 2012       Qtr 2 2012       Qtr 3 2011  
Total operating income   $3,931       $16,164       $3,482  
                       
Management fee expense   $2,168       $2,365       $2,183  
Portfolio fees - asset management expense   $338       $462       -  
Administrative   $971       $817       $1,049  
Interest, fees and other borrowing costs   $854       $832       $784  
Net incentive compensation   ($2,415)       ($175)       ($463)  
Total Operating Expenses   $1,916       $4,301       $3,553  
Waiver by advisor   ($37)       ($2,383)       ($37)  
Tax expense   -       -       -  
                       
Net operating income (loss)   $2,052       $14,246       ($34)  
Net realized (loss) gain and net change in unrealized appreciation (depreciation) on investments   ($12,647)       ($12,731)       ($2,335)  
Net (decrease) increase in net assets resulting from operations   ($10,595)       $1,515       ($2,369)  
Net (decrease) increase in net assets resulting from operations per share   ($0.45)       $0.06       ($0.10)  
Net Asset value per share   $16.42       $16.99       $17.10  
             

In the third quarter of 2012, the Company earned approximately $2.8 million in interest and dividend income and approximately $1.2 million in fee and other income, representing an increase in total operating income of approximately $448,000 as compared to the same quarter in 2011. The primary reason for the increase in total operating income was fee income from the MVC PE Fund and its portfolio companies.

1 of 5

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs