NEW YORK (AP) _ Apollo Investment Corp. (AINV) on Thursday reported fiscal fourth-quarter net income of $42.4 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the New York-based company said it had net income of 65 cents. Earnings, adjusted for investment gains, came to 39 cents per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.
The investment company posted revenue of $50.8 million in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $52.5 million.
For the year, the company reported net income of $111.9 million, or $1.71 per share, swinging to a profit in the period. Revenue was reported as $216.7 million.
Apollo Investment shares have increased 38% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $14.62, a climb of 60% in the last 12 months.
The Associated Press