Allied Capital Corp.
1919 Pennsylvania Ave. NW
Washington, D.C. 20006
www.alliedcapital.com Year founded: 1958 Industry: Financial services Revenue: $329.23 Million Net Income/Loss: $192.01 Million Earnings per share: $1.62 Dividend: $2.28 Stockholder equity: $1.91 Billion Auditor: KPMG LLP Stock: ALD Assets: $3.02 Billion Market capitalization: $3.43 Billion 52-week high: 31.12 2/19/2004 52-week low: 19.68 4/23/2003 Chairman and CEO: William L. Walton COO: Joan M. Sweeney Employees: 125 Local employees: 100 Description: Allied Capital invests in other companies through debt and equity. It also invests in mortgage-backed securities. It owns a real estate investment trust and an advisory firm. It provides managerial assistance to companies in which it invests, mostly private concerns. Its major investments include Business Loan Express, a government-guaranteed lender to small businesses. Developments: Allied Capital won a legal battle last April when a federal judge dismissed a class-action lawsuit accusing the company of securities fraud. The lawsuit alleged Allied Capital's financial reports included inflated valuations of some of its investments. But the judge ruled the lawsuit "establishes nothing more than that the plaintiffs disagree with some of Allied's investment valuations." The lawsuit highlighted the inherently subjective nature of some of the key numbers in Allied's financial reports. Its investments typically involve the illiquid securities of private businesses which, the company says, there is no single objective way to value. In June, two months after the court decision, Allied completed a $66.8 million stock offering, which it followed with a $55 million offering in September. The company ended the year with assets of $3 billion. It invested $931.5 million. Major investments last year included Wear Me Apparel ($50 million) and Radiovisa, a Spanish-language radio company ($25 million). Also last year the company agreed to buy Mercury Air Group, which provides services to the aviation industry, for $70 million. Last month the company announced that it had sold Hillman Cos., a manufacturer of key blanks and key-making equipment, for a gain of $149 million. Earlier this month the company bought Mercury Air Group, which provides services to the aviation industry, for $81 million plus a $10 million funding commitment, and Mercury repaid a $24 million debt to Allied Capital. Executive Compensation
Managing Director: Thomas H. Westbrook
Total Cash: $689,204.00
Total Compensation: $7,562,274.00
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