雅虎香港財經 Rand Capital Corporation (NASDAQ:RAND) Q3 2023 Earnings Call Transcript
Rand Capital Corporation (NASDAQ:RAND) Q3 2023 Earnings Call Transcript November 6, 2023
Operator: Greetings, and welcome to Rand Capital Corporation's third quarter fiscal year 2023 financial results. At this time, all participants are in a listen-only mode. [Operator Instructions]. It is now my pleasure to introduce Craig Mahalik, Investor Relations. Thank you. You may begin.
Craig Mahalik: Thank you, and good afternoon, everyone. We appreciate your interest in Rand Capital and for joining us today for our third quarter 2023 financial results conference call. On the line with me are Dan Penberthy, our President and Chief Executive Officer; and Margaret Brechtel, our Executive Vice President and Chief Financial Officer. A copy of the release and slides that accompany our conversation is available at randcapital.com. If you are following along in the slide deck, please turn to slide 2, where I'd like to point out some important information. As you are likely aware, we may make some forward-looking statements during this presentation. These statements apply to future events that are subject to risks and uncertainties as well as other factors that could cause actual results to differ from where we are today.
You can find a summary of these risks and uncertainties and other factors in the earnings release and other documents filed by the company with the Securities and Exchange Commission. These documents can be found on our website or at sec.gov. During today's call, we'll also discuss some non-GAAP financial measures. We believe these will be useful in evaluating our performance. You should not consider the presentation of this additional information in isolation or as a substitute for results in accordance with generally accepted accounting principles. We have provided reconciliations of non-GAAP measures with comparable GAAP measures in the tables that accompany today's earnings release. With that, please turn to slide 3, and I'll hand the discussion over to Dan.
Dan?
Dan Penberthy: Thank you, Craig, and good afternoon, everyone. There was a recurring theme as our results once again reflected the strength and execution of our strategy as we continued to deploy capital, largely centered on high-quality debt investments. Total investment income grew 12% for the quarter and was driven by the sustained growth in interest income from our portfolio companies. For the quarter, net investment income per share was $0.31, which was down year over year. The contributing factor of which affecting this decline were higher expenses tied to our debt financing, which has been put to work to fund future growth. Our net asset value per share of $23.77 was relatively flat for the quarter, but up 6% since year-end 2022.
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