ARLINGTON, Va., Oct. 30, 2013 (GLOBE NEWSWIRE) -- MCG Capital Corporation (Nasdaq:MCGC) ("MCG," "we," "our," "us" or the "Company") announced today its financial results for the quarter ended September 30, 2013.
As outlined in further detail in this earnings release and in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2013, the following highlights occurred during the three months ended September 30, 2013:
- Net operating income, or NOI, was $8.0 million, or $0.11 per share;
- Net income was $3.3 million, or $0.05 per share;
- We made $4.2 million of advances to existing portfolio companies;
- We monetized $60.9 million of our debt portfolio;
- At September 30, 2013, we had $133.2 million of cash on-hand to make new investments using unrestricted cash and restricted cash from our small business investment company, or SBIC. In addition, we had $9.4 million in securitization accounts and other restricted cash accounts; and
- We incurred severance costs of $0.8 million, or $0.01 per share, of which $0.7 million is included in general and administrative expense and $0.1 in amortization of employee restricted stock awards.