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Horizon Technology Finance Corp (NASDAQ:HRZN) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.2%.
Horizon Technology Finance Corp Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 18.18% to $0.36 in the quarter versus EPS of $0.44 in the year-earlier quarter.
Revenue: Rose 28.48% to $7.94 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Horizon Technology Finance Corp reported adjusted EPS income of $0.36 per share. By that measure, the company beat the mean analyst estimate of $0.35. It beat the average revenue estimate of $7.27 million.
Quoting Management: “We are very proud of our success in generating $66.5 million in new loan volume in the fourth quarter which more than offset high loan prepayments in the fourth quarter. This level of prepayments generated strong interest and fee income supporting our $0.36 per share in NII. Our NII covers our previously declared fourth quarter dividend of $0.115 per share per month payable in the first quarter of 2013,” said Robert D. Pomeroy, Jr., Chairman and Chief Executive Officer.
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