Horizon Technology Finance Corp. saw second-quarter net fall by half from a dip in the Farmington equity-lender’s interest income and higher overhead.
For three months ended June 30, Horizon said it netted $1.8 million, or 19 cents a diluted share, down from $3.6 million, or 38 cents a share, netted the same quarter in 2013.
Horizon’s second-quarter payment of professional fees was $1.3 million vs. $311,000 a year earlier accounted for the bulk of its climb in expenses for the period.
Despite that, Horizon Chairman and CEO Robert D. Pomeroy Jr. said, “Our core operating results for the second quarter were positively impacted by improving credit quality and profitable liquidity events.’’
Horizon finished the quarter with an investment portfolio valued at $219.3 million vs. $246.9 million a year earlier.
Horizon also declared third-quarter distributions totaling 34 ½ cents a share to stockholders, payable in October, November and December.
