LONDON, UK / ACCESSWIRE / January 09, 2018 / Active-Investors.com has just released a free earnings report on Medley Capital Corp. (NYSE: MCC). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=MCC. The Company posted its financial results on December 07, 2017, for the fourth quarter of the fiscal year 2017 (Q4 FY17), and for the full fiscal year 2017 (FY17). The New York-based Company's quarterly investment income fell on a y-o-y basis, but still managed to outperform market consensus estimates. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Medley Capital most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/?symbol=MCC
Earnings Highlights and Summary
In Q4 FY17, Medley Capital's quarterly total investment income came in at $22.15 million, lower than the $27.20 million reported in the year ago same quarter, and missing Wall Street's estimates of $23.7 million for the reported quarter. During Q4 FY17, the Company's total interest income was $18.82 million versus $24.46 million in Q4 FY16. Medley Capital's total fee income fell to $1.79 million during Q4 FY17 from $2.00 million in Q4 FY16. Additionally, the Company's total dividend income stood at $1.49 million for Q4 FY17 compared to $0.71 million in Q4 FY16.
For the quarter ended September 30, 2017, the Company reported a net investment income of $8.62 million, or $0.16 per diluted share, compared to $12.40 million, or $0.23 per diluted share, in Q4 FY16. The Company's net investment income was also in-line with market consensus estimates of $0.16 per common share. Furthermore, the Company posted a net loss from operations of $12.15 million, or $0.22 loss per diluted share, in Q4 FY17, which was wider than the net loss of $3.23 million, or $0.06 per diluted share, in the prior year's comparable quarter.
During FY17, the Company's total investment income stood at $96.26 million compared to $120.75 million in FY16. Medley Capital's net investment income was $36.37 million, or $0.67 per diluted share, for FY17 versus $53.59 million, or $0.97 per diluted share, in the last year's corresponding period. Additionally, the Company reported a net loss of $15.08 million, or $0.28 loss per diluted share, for FY17 compared to a net loss of $27.96 million, or $0.50 loss per diluted share, in FY16.
Operating Metrics
During the three months ended September 30, 2017, the Company's total expenses of $13.52 million consisted of base management fees of $4.31 million; interest and financing expenses of $7.16 million; professional fees of $0.26 million; administrator expenses of $0.86 million; Directors fees of $0.18 million; and other general and administrative-related expenses of $0.65 million.
The Company's net asset value stood at $8.45 per common share as on September 30, 2017, compared to $9.49 per common share as on September 30, 2016. At the close of the reported quarter, the weighted average yield based upon the cost basis of income bearing portfolio investments, excluding cash and cash equivalents, was 10.8%.
Portfolio Standings and Liquidity
At the end of the fourth quarter of FY17, the Company's portfolio consisted of 67.5% of senior secured first lien investments, 11% of senior secured second lien investments, and 16.3% in equities / warrants.
Medley Capital's total assets amounted to $959.56 million as on September 30, 2017, compared to $1.03 billion as on September 30, 2016. The Company's investment fair value was $836.99 million as on September 30, 2017, versus $914.18 million as on September 30, 2016. Furthermore, the Company's total debt outstanding was $68.0 million as on September 30, 2017.
Stock Performance Snapshot
January 08, 2018 - At Monday's closing bell, Medley Capital's stock marginally fell 0.38%, ending the trading session at $5.22.
Volume traded for the day: 253.59 thousand shares.
After yesterday's close, Medley Capital's market cap was at $284.33 million.
The stock has a dividend yield of 12.26%.
The stock is part of the Financial sector, categorized under the Closed-End Fund - Equity industry. This sector was flat at the end of the session.
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