Rand Capital Q3 investment income falls 17% yr/yr
Overview
U.S. business development company's fiscal Q3 total investment income fell 17% yr/yr
Net investment income for Q3 declined to $0.23 per share from $0.33 last year
Interest income from portfolio companies rose 4% sequentially, driven by new investments
Outlook
Rand Capital did not provide specific financial guidance for the current or future periods in the press release
Result Drivers
NON-ACCRUAL INVESTMENTS - Co said lower total investment income was primarily due to certain investments being placed on non-accrual status, reducing interest income
NEW INVESTMENTS - Sequential increase in interest income attributed to contributions from investments made earlier in the year
PORTFOLIO VALUATION CHANGES - Valuation increases in some portfolio companies were partly offset by decreases in others
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Dividend Income | $28,000 |
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)