UPDATE 1-Ares Capital Q3 profit beats Street

* Q3 EPS $0.38 vs est $0.33

* Q3 net investment income up 116 pct

Nov 4 (BestGrowthStock) – Small business lender Ares Capital Corp
(ARCC.O: ) posted a third-quarter profit (Read more your timing to make a profit.) above estimates, helped
by a jump in investment income.

The company posted a third-quarter net profit of $128.4
million, or 67 cents a share, compared with $63.3 million, or
62 cents a share, a year earlier.

Excluding professional fees and other costs related to the
Allied acquisition in the first quarter, the company earned 38
cents a share.

Analysts were looking for a profit of 33 cents a share,
excluding items, according to Thomson Reuters I/B/E/S.

Net investment income more than doubled to $71.2 million
from a year ago, with higher interest income from investments.

Expenses jumped to $67.1 million from $27.5 million.

Net asset value per share rose to $14.43 at the end of the
quarter from $11.44 on Dec. 31.

Shares of the New York-based company closed at $16.90
Wednesday on Nasdaq. Their value has increased more than 16
percent since the company posted second-quarter results above
market expectations in August.

(Reporting by Rachel Chitra in Bangalore; Editing by Roshni

UPDATE 1-Ares Capital Q3 profit beats Street