Boston, MA July 25, 2007 NewStar Financial, Inc. (NASDAQ: NEWS) announced today that it will report results for the second quarter of 2007 on Wednesday, August 8, 2007 before the markets open.
The Company issued preliminary results this morning of expected adjusted net income for the second quarter of 2007 of between $7.3-7.5 million, or $0.20-0.21 per diluted share, excluding non-cash equity compensation, the impact of the asset sale and income generated in the second quarter by the assets sold. On a GAAP basis, net income is expected to be between $3.3 and $3.5 million, or $0.09-0.10 per fully diluted share. The quarter was marked by strong origination volume of $685 million and solid credit quality.
NewStar will also host a webcast/conference call to discuss the results on Wednesday, August 8, 2007 at 10:00 am Eastern Time. All interested parties are invited to participate via telephone or webcast, which will be hosted through the Investor Relations section of our website at www.newstarfin.com. Please visit the website to register for the webcast and test your connection prior to the call. You can also access the conference call by dialing (866) 316-1368 approximately 5-10 minutes prior to the call. International callers should dial (913) 312-6678. All callers should reference "NewStar Financial."
For convenience, an archived replay of the call will be available through August 15, 2007 by dialing (888) 203-1112. International callers should call (719) 457-0820. For all replays, please use the passcode # 7734185. The audio replay will also be available through the Investor Relations section of our website at www.newstarfin.com.
About NewStar Financial:
NewStar Financial is a specialized commercial finance company focused principally on meeting the complex financing needs of customers in the middle market through our corporate, commercial real estate, and structured products groups. Our senior banking teams call directly on customers to provide advice and finance a range of strategic transactions that may require some combination of senior secured, second lien and mezzanine financing. NewStar typically works with customers with financing needs of up to $150 million and cash flow as low as $5 million. We target 'hold' positions of up to $35 million, but may also underwrite or arrange transactions up to $100 million for syndications to other lenders.
We are headquartered in Boston MA, with regional offices in Darien CT, Chicago IL, San Francisco CA, San Diego CA, and Charleston SC. In December of 2006, NewStar completed an Initial Public Offering. The Company's shares trade on the NASDAQ under the ticker symbol, NEWS. Please visit our website at www.newstarfin.com for more detailed transaction and contact information.
Robert K. Brown
500 Boylston Street, Suite 1600
Boston, MA 02116