Ares Capital Management Discusses Q2 2012 Results - Earnings Call Transcript

Ares Capital Corporation (ARCC)

Q2 2012 Earnings Call

August 7, 2012 11:00 AM ET


Mike Arougheti – President

Penni Roll – CFO


Troy Ward – Stifel, Nicolaus

Richard Shane – JPMorgan

Jasper Burch – Macquarie

Arren Cyganovich – Evercore

John Hecht – Stephens

Jonathan Bock – Wells Fargo

Jason Freuchtel – SunTrust

Vernon Plack – BB&T Capital Markets



Good morning and welcome to Ares Capital Corporation’s Earnings Conference Call. At this time, all participants are in a listen-only mode. As a reminder, this conference is being recorded on Tuesday, August 7, 2012.

Comments made during the course of this conference call and webcast and the accompanying documents contain forward-looking statements and are subject to risks and uncertainties. Many of these forward-looking statements can be identified by the use of the words such as anticipates, believes, expects, intends, will, should, may, and similar expressions. The company’s actual results could differ materially from those expressed in the forward-looking statements for any reason, including those listed in its SEC filings.

Ares Capital Corporation assumes no obligation to update any such forward-looking statements. Please also note that past performance or market information is not a guarantee of future results.

During this conference call, the company may discuss core earnings per share or core EPS, which is a non-GAAP financial measure as defined by SEC Regulation G. Core EPS is the net per share increase or decrease in stockholders’ equity, resulting from operations, less realized and unrealized gains and losses, any incentive/management fees attributable to such realized and unrealized gains and losses and any income taxes related to such realized gains.

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