Horizon Technology Finance (HRZN) Misses Q1 EPS by 3c

Horizon Technology Finance (NASDAQ: HRZN) reported Q1 EPS of $0.28, $0.03 worse than the analyst estimate of $0.31.

"Horizon produced another quarter of solid fundamental performance to start 2019 and grew its overall portfolio for the fourth consecutive quarter," said Robert D. Pomeroy, Jr., Chairman and Chief Executive Officer of Horizon. "During the quarter, we originated six new loans for $40.2 million and achieved a strong annualized loan portfolio yield of 14.4%. Our performance is a testament to our disciplined underwriting and the utilization of our predictive pricing strategy in structuring loans."

"In addition, our proactive portfolio management helped us maintain our stable credit quality and contributed to another quarter with no loans on non-accrual," added Mr. Pomeroy. "We also were pleased to complete a successful equity capital raise, further increasing our liquidity profile, which will support additional portfolio growth. With market demand remaining robust for venture debt, we believe we are positioned to deliver sustained long-term value to our shareholders."

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

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