News

Stellus Capital reports fourth-quarter loss of $1.1 million

HOUSTON – HOUSTON (AP) _ Stellus Capital Investment Corp. (SCM) on Thursday reported a fourth-quarter loss of $1.1 million, after reporting a profit in the same period a year earlier.

The Houston-based company said it had a loss of 9 cents per share. Earnings, adjusted for non-recurring costs, were 39 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.

The investment company posted revenue of $9.2 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $8.9 million.

For the year, the company reported profit of $7.7 million, or 61 cents per share. Revenue was reported as $35.2 million.

Stellus Capital shares have decreased 12 per cent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $8.45, a fall of 32 per cent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SCM at http://www.zacks.com/ap/SCM

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Keywords: Stellus Capital, Earnings Report