Horizon Tech's 4Q, full-year net falls

BY Gregory Seay

Farmington specialty financier Horizon Technology Finance Corp. posted lower fourth-quarter and full-year net, owing to lower interest income and higher borrowing costs on its venture loans to life-sciences and other technology developers.

For three months ended Dec. 31, Horizon said it netted investment income of $2.4 million, or 21 cents a share, down from $3.8 million, or 33 cents a share, netted the same quarter a year earlier.

Fourth-quarter gross investment income was $6.2 million vs. $7 million a year earlier.

For 2017, Horizon's net of $12.3 million, or $1.07 a share, declined from the $17.1 million, or $1.48 per share, netted in 2016.

Its 2017 total investment income was $25.8 million vs. $33 million in 2016.