NewStar Financial (NEWS) Tops Q4 EPS by 8c
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NewStar Reports Net Income of $10.3 Million, or $0.23 per Diluted Share, for the Fourth Quarter and $28.2 Million, or $0.61 per Diluted Share, for FY 2016
February 14, 2017 7:00 AM ESTÂ
Divestiture Sold equipment finance platform and related assets for $105 million in cash, or approximately 1.2x allocated book value, net of debt repayment, transactions fees and other retained liabilities. The transaction generated a gain of approximately $6.7 million in the fourth quarter.Investment Activity New funded credit investments totaled $671 million in the fourth quarter and $1.9 billion for the full year, compared to $427 million last quarter and $3 billion for the full year in 2015.Managed Assets Managed loans and credit investments increased by 1.3% from the prior quarter to more than... More