Business in the Burbs

Operating income falls at MVC Capital

June

MVC Capital Inc., a Purchase-based company that makes private equity and debt investments in businesses, reported $5.8 million in total operating income during the second quarter, down from $8.1 million a year earlier.

The company said that reasons for the decline included repayments of yielding investments, decreased investment activity and interest reserves accumulated against non-performing loans. MVC reported 41 investments in 28 industries at the end of the quarter.

“Although the financial crisis has created challenges for many businesses, we are fortunate to have assembled a good mix of stable growth companies in a variety of industries,” Michael Tokarz, chairman and portfolio manager of MVC Capital, said in a written statement.

This entry was posted on Friday, June 5th, 2009 at 12:21 pm by Jay Loomis. You can follow any responses to this entry through the RSS 2.0 feed.
Category: Earnings

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