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Hercules Tech: 4Q Earnings Snapshot

February 20, 2020 GMT

PALO ALTO, Calif. (AP) _ Hercules Technology Growth Capital Inc. (HTGC) on Thursday reported fourth-quarter net income of $44.6 million, after reporting a loss in the same period a year earlier.

The Palo Alto, California-based company said it had net income of 42 cents per share. Earnings, adjusted for investment gains, were 38 cents per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.

The specialty finance company posted revenue of $70.6 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $68.9 million.

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For the year, the company reported profit of $173.6 million, or $1.71 per share. Revenue was reported as $267.9 million.

Hercules Tech shares have climbed 12% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $15.71, an increase of 20% 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 HTGC at https://www.zacks.com/ap/HTGC