American CapitalLtd. reported first-quarter net operating income of $74 million, or31 cents per share, up from $50 million, or 18 cents per share, in the first quarterof 2015.
The company reported consolidated net loss for the quarter of$80 million, or a loss of 34 cents per share, compared with consolidated net earningsof $15 million, or 5 cents per share, in the year-ago period.
Net asset value per outstanding common share increased to $20.14for the quarter, compared with $19.88 as of Dec. 31, 2015, and $20.12 as of March31, 2015.
Total earning assets under management came in at $19.68 billionfor the quarter, compared with $20.71 billion in the previous quarter and $22.66billion in the year-ago quarter.
During the quarter, the company repurchased 21.2 million commonshares, or 8.7% of its outstanding common shares as of Dec. 31, 2015, in the openmarket for an aggregate price of $297 million. As of March 31, American Capitalhas repurchased a total of $730 million of its common stock under its share repurchaseprogram.