Good morning ladies and gentlemen and welcome to the Fidus Investment Corporation’s Fourth Quarter and Year-End 2012 Earnings conference call. At this time, all participants are in a listen-only mode. Later we will conduct a question and answer session and instructions will follow at that time. If anyone should require assistance during the conference, please press star then zero on your touchtone telephone. As a reminder, this conference is being recorded. I will now turn the call over to your host, Stephanie Prince from LHA. Please go ahead.

Thank you, Stephanie. Good morning everyone. This is Stephanie Prince. Thank you for joining us for Fidus Investment Corporation’s Fourth Quarter and Year-End 2012 Earnings conference call. With me this morning are Ed Ross, Fidus Investment Corp.’s Chairman and Chief Executive Officer; and Cary Schaefer, Chief Financial Officer and Chief Compliance Officer. Fidus Investment Corporation issued a press release yesterday afternoon with details of the company’s quarterly and year-end financial and operating results. A copy of the press release is available on the Investor Relations page of the company’s website at fdus.com. I’d like to remind everyone that today’s call is being recorded. A replay of today’s call will be available by using the telephone numbers and conference ID provided in the earnings press release. In addition, an archived webcast replay will be available on the Investor Relations page of the company’s website at fdus.com following the conclusion of the conference call. I’d also like to call your attention to the customary Safe Harbor disclosure regarding forward-looking information included in the earnings release. The conference call today will contain certain forward-looking statements, including statements regarding the goals, strategies, beliefs, future potential operating results and cash flows of Fidus Investment Corporation. Although management believes these statements are reasonable based on estimates, assumptions and projections as of today, March 8, 2013, these statements are not guarantees of future performance. Time sensitive information may no longer be accurate at the time of any telephonic or webcast replay. Actual results may differ materially as a result of risks, uncertainties and other factors, including but not limited to the factors set forth in the company’s filings with the SEC. Fidus undertakes no obligation to update or revise any of these forward-looking statements. I’d now like to turn the call over to Ed Ross. Ed?

Thank you, Stephanie, and good morning everyone. I want to welcome you to our fourth quarter and year-end 2012 earnings call. I’d like to begin with a brief review of our strategy and we’ll follow with highlights of the fourth quarter and full year before discussing the investment activity and performance of our investment portfolio. I’ll then close with a brief market update before turning the call over to Cary, who will provide more detailed information about our financial results and liquidity position before we open up the call to questions. For those of you who are new to Fidus, I’ll briefly review our strategy. The primary goal of Fidus Investment Corporation is to deliver stable and growing dividends to our stockholders. Our strategy is to build a well diversified portfolio of debt and to a lesser extent equity investments in high quality, lower middle market companies that are market leaders in their respective niches. In executing this strategy, we strive to maintain an acute focus on capital preservation while generating attractive risk-adjusted returns. We seek to invest in businesses that we believe will perform well over the long term with an emphasis on companies that operate in industries we know well, that generate excess free cash flow for debt service and investment, and have positive outlooks. Also from a debt structuring perspective, we look to maintain significant cushions to a borrower’s enterprise value in support of our capital preservation and income goals. Some of the industries we know well and focus on include aerospace and defense, consumer products and services, retail and restaurants, business services, industrial products and services, transportation and logistics, healthcare products and services, and niche manufacturing. Notably, our senior investment professionals, most of whom have worked together for over 14 years, have an average of more…

Thanks, Ed, and good morning everyone. I will now review our fourth quarter and full year 2012 results in a little more detail, and then comment on our liquidity position. Total investment income was $9.6 million for the fourth quarter of 2012, an increase of $2.3 million or approximately 32% over the $7.3 million recorded during the fourth quarter of 2011. This increase was primarily driven by an increase in average outstanding debt investments in the fourth quarter of 2012 as compared to last year. Also contributing to the fourth quarter 2012 investment income growth was an increase in dividend income, which included a special dividend from a portfolio company of approximately $230,000. These increases were partially offset by a decrease in fee income which will fluctuate from quarter to quarter depending on the level of new investment activity, as well as prepayment activity. Fee income during the fourth quarter of 2012 was approximately $512,000 compared to approximately $927,000 for the fourth quarter of 2011. This was due to a higher level of prepayment activity and growth investments during the fourth quarter of 2011. Total expenses for the fourth quarter of 2012 were $4.9 million compared to $3.9 million for the fourth quarter of 2011. Management and incentive fees totaled $2.5 million for the fourth quarter 2012, which included an accrual for capital gains incentive fee of approximately $81,000 or almost $0.01 per share, compared to $182,000 for the same period in 2011. This accrual is the result of the unrealized portfolio gains recognized during the quarter; however, it’s important to note that capital gains incentive fees are only payable when net realized capital gains are in excess of gross unrealized depreciation. Administrative service expenses, professional fees, and other general and administrative expenses totaled approximately $716,000 compared to approximately $574,000…

Thanks, Cary. In closing, I would like to thank the outstanding team at Fidus for their commitment and great work. In addition, we’d like to thank our shareholders for their continued trust and confidence in us, and thank you all again for joining us today. I’ll now turn the call back to Stephanie for Q&A. Stephanie?

[Operator instructions] I am currently showing no questions at this time. I will now turn the call back over to management for further remarks.

Okay, well thank you, Stephanie – appreciate it. And thank you everyone for joining us today. We greatly appreciate your time and your interest, and we also look forward to visiting with you in early May to discuss our first quarter 2013 results. So thank you again and have a good day.

Ladies and gentlemen, that does conclude today’s conference. You may all disconnect and have a wonderful day.