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As we announced about six weeks ago, our dividend for the first quarter of this year is $0.17 per common share; the same as for our fourth quarter dividend in 2009. The dividend was paid on April 9th.As of the end of the quarter, our funded targeted investment consisted of 15 portfolio companies totaling $242.7 million and having fair value of $193 million. Our total committed and available for funding was approximately $248.7 million. Our net asset value at the end of the first quarter was $11.17 per common share. Our earnings release was distributed this morning. Those who did not receive the copy of the release can call us or can download the release from our website, which as you know is www.ngpcrc.com. Also for anyone wishing to listen to a recording of our prepared comments today, we will have a replay available by phone through next Wednesday. The call will also be available through a link on the investor relations page of our website. I would like to remind everyone at this point that our remarks today may include comments which could be considered forward-looking statements. And such statements are subject to many factors that can cause actual results to differ materially from our expectations as expressed in those forward-looking statements. Those factors are described in more detail in our SEC filings, which I refer you through our website or through the SEC website to review those filings. We undertake no obligation to publicly update or revise any forward-looking statements. With that, I will turn the call over to Steve. Steve Gardner Thank you, John. Good morning everybody. For the first quarter of 2010, our net investment income totaled $2.4 million or $0.11 per share and the net increase in stockholders equity from operations was $5 million or $0.24 per share. The weighted average yield on our targeted portfolio investments exclusive of capital gains or losses was 7.23% at March 31, 2010, up from 5.38% at the end of 2009.
Operating expenses decreased in the first quarter in 2010 as compared to 2009 and this was largely the result of lower management fees and lower interest expense. Net unrealized appreciation for the quarter was $2.6 million after a small provision for income tax as we had modest increases in the evaluations of a couple of our portfolio investments. We did not have any realized gains or losses in the first quarter.Our net asset value per share as of quarter end after giving effect to the 17% per share dividend and the results for operations was $11.17. We currently have through our investment facility cash on hand and scheduled repayments during the year in excess of $100 million for new investment activity during 2010. In our recently filed annual report on Form 10-K for 2009, we’ve restated our financial statements for the years ending December 31, 2007 and 2008. The restatement principally involved noncash accounting entries related to the net deferred tax asset and liability balances that typically arises as a result of timing differences in tax and GAAP accounting. In our case these differences were driven by unrealized appreciation and depreciation in certain of our portfolio investments that are held in taxable subsidiaries. While the 2009 10-K corrected the financial statements for the calendar years of 2007 and 2008 we will also file amended 10-Qs to correct the interim financial statements for each quarter in the years 2007, 2008 and 2009. We intend to file the amended 10-Qs for the first quarters of these three years 2007, 2008 and 2009 along with our 10-Q for the first quarter of 2010, so that the comparisons among the various first quarters can be made accurately. We will file the amended 10-Qs for the second and third quarters of 2007, 2008 and 2009 within the next several weeks. Read the rest of this transcript for free on seekingalpha.com