American Capital Ltd Reports 52% Drop In Q3 Earnings

(RTTNews) - American Capital Ltd (ACAS) reported earnings for third quarter that decreased compared to the same period last year.

The company said its earnings dropped to $52 million, or $0.23 per share. This was down from $108 million, or $0.40 per share, in last year's third quarter.

Analysts had expected the company to earn $0.25 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 46.6% to $94 million. This was down from $176 million last year.

American Capital Ltd earnings at a glance:

-Earnings (Q3): $52 Mln. vs. $108 Mln. last year. -Earnings Decline (Y-o-Y): -51.9% -EPS (Q3): $0.23 vs. $0.40 last year. -EPS Decline (Y-o-Y): -42.5% -Analysts Estimate: $0.25 -Revenue (Q3): $94 Mln vs. $176 Mln last year. -Revenue Change (Y-o-Y): -46.6%