LOS ANGELES (AP) — LOS ANGELES (AP) — Crescent Capital BDC, Inc. (CCAP) on Wednesday reported fourth-quarter net income of $10 million.
On a per-share basis, the Los Angeles-based company said it had profit of 27 cents. Earnings, adjusted for investment costs, came to 55 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.
The company posted revenue of $46.4 million in the period.
For the year, the company reported profit of $73.6 million, or $1.99 per share. Revenue was reported as $197.4 million.
Crescent Capital BDC shares have climbed 4% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $20, a climb of 22% in the last 12 months.
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