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MCG Capital: Still looking

Mar. 02, 2015 10:46 AM ETMCG Capital (MCGC) StockMCGCBy: Stephen Alpher, SA News Editor
  • Q4 net income of $2.1M or $0.05 per share. 7.8M shares repurchased during quarter for average price of $3.74 each, includes 4.9M shares purchased on Dec. 10 in the "Dutch Auction" for $3.75 each.
  • Company continues to look for a buyer, or some other strategic alternative.
  • No conference call has been scheduled.
  • Outlook: "We continue to believe that current market conditions in our primary lending markets are consistent with a peak of a credit cycle... Our primary asset is unencumbered cash and we do not have sufficient net earning assets to generate positive net operating income at this time."
  • Previously: MCG Capital beats by $0.05, beats on revenue (March 2)
  • MCGC flat on the session at $3.90.

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