Horizon Technology Finance (HRZN) Tops Q3 EPS by 1c

• Horizon Technology Finance (NASDAQ: HRZN) reported Q3 EPS of $0.30, $0.01 better than the analyst estimate of $0.29.
• Earned net investment income of $3.4 million, or $0.30 per share, for the quarter
• Net asset value equaled $134.5 million, or $11.66 per share, at quarter end
• Funded $24.2 million in loans to seven companies
• Achieved an annualized portfolio yield on debt investments of 14.8% for the quarter
• Ended the quarter with an investment portfolio of $239.8 million
• Experienced liquidity events from four portfolio companies
• Total liquidity as of September 30, 2018 was $20.1 million
• Floating rate loans comprised 99% of the outstanding principal of the loan portfolio, at quarter end
• At quarter end, held a portfolio of warrant and equity positions in 78 portfolio companies
• Asset coverage for borrowed amounts of 219% as of September 30, 2018
• Declared distributions of $0.10 per share payable in each of January, February and March 2019
• Received shareholder approval to reduce the asset coverage requirements applicable to the Company from 200% to 150% as permitted by the Small Business Credit Availability Act
• Shareholders approved new investment management agreement, which reduced the base management fee on gross assets less cash and cash equivalents in excess of $250 million from 2.00% to 1.60%

For earnings history and earnings-related data on Horizon Technology Finance (HRZN) click here.

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