Medley reports 4Q loss

Associated Press |

NEW YORK (AP) _ Medley Capital Corp. (MCC) on Thursday reported a loss of $12.2 million in its fiscal fourth quarter.

The New York-based company said it had a loss of 22 cents per share. Earnings, adjusted for investment costs, were 16 cents per share.

The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 16 cents per share.



The investment firm posted revenue of $22.1 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $23.7 million.

For the year, the company reported that its loss narrowed to $15.1 million, or 28 cents per share. Revenue was reported as $96.3 million.

Medley shares have dropped 23 percent since the beginning of the year. The stock has fallen 25 percent in the last 12 months.

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

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