MVC Capital, Inc. (NYSE:MVC) has released the fiscal year financial results for the year ended October 31, 2009. The company’s net assets were reported to have grown under the company’s current management team with net assets from operations of $14.2 million. $21.8 million was earned during the fiscal year in interest and dividend income and $4.4 million was earned in fee and other income representing a decline of $3.9 million, or 13% in total income compared to the previous year.
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MVC focused on the prudent deployment of capital into existing opportunities during fiscal 2009. The company announced making six follow on investments during the year with a focus on four existing portfolio companies, committing $6.3 million of capital. More information regarding the fiscal 2009 financial results are available on the company’s website, http://www.mvccapital.com/.
MVC Capital, Inc. (MVC Capital) is a non-diversified, closed-end management investment company. MVC Capital provides equity and debt investment capital to fund growth, acquisitions and recapitalizations of small and middle-market companies in a variety of industries primarily located in the United States. Its portfolio company investments consists of common and preferred stock, other forms of equity interests and warrants or rights to acquire equity interests, senior and subordinated loans and convertible securities. Its portfolio has investments in a variety of industries, including medical devices, food and food service, industrial manufacturing, financial services, consumer products, energy and information technology in areas, including the United States, Europe and Asia. In February 2008, GenTek Inc.sold its indirect wholly owned subsidiary, Reheis, Inc. and its Anti-Perspirant Actives business to Summit Research Labs, Inc., a portfolio company of MVC Capital, Inc.
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