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

NGP Capital Resources Company Announces Fourth Quarter And Fiscal Year 2012 Financial Results

Operating Results – Year ended December 31, 2012

Investment income totaled $23.4 million for the year ended December 31, 2012, decreasing $4.5 million compared to $27.9 million in 2011. The decrease in 2012 was primarily attributable to the recognition, in the second quarter of 2011, of $4.5 million of previously unrecognized paid-in-kind ("PIK") interest income on Tranche B of a Term Loan issued to Alden, which was sold in July 2011. 

Operating expenses in 2012 totaled $11.6 million, decreasing $0.5 million, or 4%, compared to 2011, primarily as a result of lower management fees for the year and lower general and administrative expenses, partially offset by higher interest expenses on increased borrowings to support our larger investment portfolio. Net investment income was $11.8 million, or $0.55 per share, for the year ended December 31, 2012, compared to $15.8 million, or $0.73 per share, for the year ended December 31, 2011.  

We recognized net realized capital losses of $17.8 million, or $0.83 per share, during 2012, primarily resulting from the write off of our investments in BioEnergy and Bionol of $21.8 million, partially offset by realized capital gains on the sale of other investments. In 2011, we recognized net realized capital losses totaling $30.6 million, or $1.42 per share, related to the sale of a number of investments that originated prior to the financial crisis in 2008 and the subsequent downturn in U.S. oil and gas drilling activity.

During the year ended December 31, 2012, we recorded $23.4 million, or $1.09 per share, of net unrealized appreciation on portfolio investments, primarily due to the reversal of prior year unrealized depreciation due to realization on our investments in BioEnergy and Bionol of $21.8 million, and net increases in the estimated fair value of other investments.  During 2011, we recorded net increases in unrealized depreciation on portfolio investments totaling $5.1 million, primarily as a result of decreases in the estimated fair value of our investments in BioEnergy, Bionol and certain other investments, partially offset by the reversal of prior period unrealized depreciation on other investments that were exited and realized in 2011.

4 of 7

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
AAPL $95.03 -2.90%
FB $116.73 7.20%
GOOG $691.02 -2.10%
TSLA $247.54 -1.60%
YHOO $36.59 -0.97%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,075.81 -19.34 -0.92%
NASDAQ 4,805.2910 -57.85 -1.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs