This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

MVC Capital Announces Fourth Quarter And Full Year Fiscal 2012 Results

Stocks in this article: MVC

PURCHASE, N.Y., Dec. 27, 2012 (GLOBE NEWSWIRE) -- 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 fourth quarter and year ended October 31, 2012.

Fourth Fiscal Quarter 2012 Financial Highlights

  • Interest and dividend income of $5.1 million, compared with $2.9 million in Q4 FY 2011
  • Fee and other income of $1.0 million, compared with $566,000 in Q4 FY 2011
  • Net operating income of $3.6 million, compared to a loss of $4.1 million in Q4 FY 2011
  • Increased quarterly dividend by 12.5% in the fourth quarter to $0.135 per share; paid 30 th consecutive quarterly dividend
  • Completed sale of SHL Group Ltd. in August for gross proceeds of $15.3 million

"During the fourth quarter, MVC successfully took advantage of opportunities to harvest returns from our investment portfolio," noted Michael Tokarz, Chairman and Portfolio Manager. "In the case of SHL Group, we monetized our investment for a realized gain of approximately $9.2 million or a 2.5X return on invested cash. As it pertains to USG&E, we received a significant dividend that was supported by the Company's strong cash flows. Combined, these transactions highlight the strength of our diversified investment portfolio and our ability to generate favorable returns for shareholders."

Operating Results        
Unaudited, except for FY results (in thousands, except per share data) Qtr 4 2012 Qtr 4 2011 FY 2012 FY 2011
Total operating income $6,148 $3,421 $29,887 $15,971
Management fee 2,027 2,155 8,588 8,845
Portfolio fees - asset management 106 -- 968 --
Management fee - asset management 140 -- 757 297
Administrative 862 1,105 3,573 4,320
Interest and other borrowing costs 886 783 3,367 3,082
Net incentive compensation (1,410) 3,483 (5,937) 1,948
Total waiver by adviser (38) (38) (2,554) (251)
Tax expense 3 2 4 14
Net operating income (loss) 3,572 (4,069) 21,121 (2,284)
Net (decrease) increase in net assets resulting from operations ($3,557) $13,282 ($21,655) $6,971
Net (decrease) increase in net assets resulting from operations per share ($0.14) $0.56 ($0.90) $0.30
Net Asset value per share $16.14 $17.54 $16.14 $17.54

In the fourth quarter of 2012, the Company earned approximately $5.1 million in interest and dividend income, and approximately $1.0 million in fee and other income. Combined, this resulted in an increase in total operating income of approximately $2.7 million to $6.1 million, as compared to the same quarter in 2011.

1 of 5

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

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