Allied Capital Corp. announces first quarter results; Net income increases by 184% over 1994 first quarter.WASHINGTON--(BUSINESS WIRE)--May 15, 1995--Allied Capital Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ALLC ALLC Association for Literary and Linguistic Computing ALLC Allied Capital Corporation (stock symbol) ALLC Army Logistics Leadership Center (Red River Defense Complex, Texarkana, TX) ) announced first quarter results Monday Monday: see week. . For the quarter ended March 31, 1995, net realized income, which includes ordinary investment income and realized capital gains and losses but excludes the effect of unrealized appreciation and depreciation, was approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. $1 million or 15 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , a 115% increase from $446,000 or 7 cents per share for the comparative period in 1994. Net income, which includes unrealized appreciation and depreciation in the portfolio, was $2.1 million or approximately 34 cents per share as compared to $752,000 or 11 cents per share for the comparative quarter in 1994, an increase of 184%. The market price of the company's investment in Allied Capital Lending Capital lending is the process of a large company, or corporation, offering financing on large "ticket" items to encourage the customer to purchase that item. Many major corporations have set up finance divisions, or subsidiaries, to help the customer purchase their product over Corp. increased from $10.375 to $12.75 per share from Dec. 31, 1994 to March 31, 1995 which was the primary reason for the increase in the fund's unrealized appreciation for the quarter. During the first quarter of 1995, Allied Capital Corp. invested approximately $6 million in new or existing portfolio companies. Because of repayments and the distribution of shares of Allied Capital Lending Corp. to shareholders in January January: see month. 1995, the company decreased its total investments in small businesses by approximately $2.8 million or 2% during the quarter. At March 31, 1995, investments in small businesses totalled 85% of the company's total assets. -0-
(in thousands, except per share amounts)
(Unaudited) 3 mos. ended 3 mos. ended
3/31/95 Per Share 3/31/94 Per Share
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Financial Position
Information
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Total investments $112,241 -- $101,611 --
Total assets 132,574 -- 131,656 --
Common shareholders'
equity (NAV) 44,958 $ 7.29 51,670 $ 8.42
Operating Information
---------------------
Net investment income $ 881 $ 0.14 $ 204 $ 0.03
Net realized gains 78 0.01 242 0.04
------- ------ ------- ------
Net realized income 959 0.15 446 0.07
Net unrealized
appreciation 1,175 0.19 306 0.05
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Net income(a) $ 2,134 $ 0.34 $ 752 $ 0.11
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Actual shares outstanding 6,163 -- 6,134 -- Weighted avg. shares outstanding 6,154 -- 6,156 -- Distributions to Shareholders ---------------- Regular dividends -- $ 0.20 -- $ 0.20 (a) Net income has been reduced by preferred stock dividends for the calculation of earnings per common share.-0- Quarterly Cash Dividend Declared At their most recent meeting, the board of directors of Allied Capital Corp. declared de·clare v. de·clared, de·clar·ing, de·clares v.tr. 1. To make known formally or officially. See Synonyms at announce. 2. To state emphatically or authoritatively; affirm. 3. the company's second quarter dividend in the amount of 20 cents per share. This dividend will be payable on June June: see month. 30, 1995 to shareholders of record as of June 16, 1995. Allied Capital Corp. is a publicly traded venture capital company, headquartered in Washington Washington, town, England Washington, town (1991 pop. 48,856), Sunderland metropolitan district, NE England. Washington was designated one of the new towns in 1964 to alleviate overpopulation in the Tyneside-Wearside area. , D.C. traded on Nasdaq National Market, symbol ALLC. There are 6,162,998 total shares outstanding. Allied Capital pays a regular quarterly cash distribution of 20 cents per share and an annual extra distribution which is determined at year end. Allied Capital paid a total of $1.40 per share, including a $0.60 per share annual extra distribution in the form of shares of Allied Capital Lending Corp., for the year ended Dec. 31, 1994. Allied Capital paid $1.35 per share in cash distributions for the year ended Dec. 31, 1993; $1.32 per share for 1992; $1.30 per share for 1991; $1.27 per share for 1990. Allied Capital has paid regular quarterly distributions and an annual extra distribution since 1964. All numbers have been adjusted for stock splits. Allied Capital's stock is marginable. A recent quote of the stock was $11.50. For additional information, please contact Allied Capital's Investor Relations Investor relations The process by which the corporation communicates with its investors. Department at 202/331-1112 or fax to 202/659-2053. CONTACT: Allied Capital, Washington Suzanne Suzanne is a common female given name that was particularly popular in the United States in the 1950s and 1960s. It remained in the top 200 most popular names in the United States between 1930 and the late 1980s. Sparrow, 202/331-1112 |
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