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Triangle Capital Corporation Reports Second Quarter 2013 Results

Stocks in this article: TCAP

Second Quarter 2013 Results

Total investment income during the second quarter of 2013 was $27.3 million, compared to total investment income of $22.0 million for the second quarter of 2012, representing an increase of 24.1%. This increase was primarily attributable to an increase in total loan interest income associated with an overall increase in the size of our investment portfolio as well as an increase in dividend and fee income relating to certain portfolio company activities.

Net investment income during the second quarter of 2013 was $16.3 million, compared to net investment income of $14.1 million for the second quarter of 2012, representing an increase of 15.8%. The Company's net investment income per share during the second quarter of 2013 was $0.59 based on a weighted average share count of 27.6 million as compared to $0.52 per share during the second quarter of 2012, based on a weighted average share count of 27.3 million.

The Company's net increase in net assets resulting from operations was $21.8 million during the second quarter of 2013, as compared to a net increase in net assets resulting from operations of $15.6 million during the second quarter of 2012. The Company's net increase in net assets resulting from operations was $0.79 per share during the second quarter of 2013 based on a weighted average share count of 27.6 million, as compared to a net increase in net assets resulting from operations of $0.57 per share during the second quarter of 2012, based on a weighted average share count of 27.3 million.

The Company's net asset value, or NAV, per share at June 30, 2013, was $15.62 as compared to $15.30 per share at December 31, 2012. As of June 30, 2013, the Company's weighted average yield on its outstanding, currently yielding, debt investments was approximately 14.8%.

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