GBDC FY 2010 Earnings Report — Golub Capital BDC, Inc. Revenue & Financial Results | Market Cap Arena

Golub Capital BDC, Inc.GBDC

FY 2010 Earnings

Reported December 13, 2010

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2010	Prior Q	FY 2009	QoQ Change	YoY Change
Revenue	$33M	—	$33M	—	-0.6%
Op. Income	$23M	—	$25M	—	-8.3%
Gross Margin	90.0%	—	91.5%	—	-1.5pp
Net Margin	79.2%	—	60.0%	—	19.1pp
EPS (Diluted)	$1.40	—	$1.09	—	28.4%
Free Cash Flow	$66M	—	-$221M	—	129.8%

Revenue Flow

Item	Amount
REVENUE	$33M
Cost of Revenue	$3M
GROSS PROFIT	$30M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$3M
Other Expenses	$4M
Operating Expenses	$6M
Cost & Expenses	$10M
OPERATING INCOME	$23M
Interest Income	$4M
Interest Expense	$4M
Other Income/Expenses	$0
INCOME BEFORE TAX	$23M
Income Tax Expense	-$3M
Net Income from Continuing Ops	$26M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$26M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$26M
D&A	$0
EBIT	$0
EBITDA	$0
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$33M
Cost of Revenue	$3M
GROSS PROFIT	$30M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$3M
Other Expenses	$4M
Operating Expenses	$6M
Cost & Expenses	$10M
OPERATING INCOME	$23M
Interest Income	$4M
Interest Expense	$4M
Other Income/Expenses	$0
INCOME BEFORE TAX	$23M
Income Tax Expense	-$3M
Net Income from Continuing Ops	$26M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$26M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$26M
D&A	$0
EBIT	$0
EBITDA	$0
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$26M
Depreciation & Amortization	$0
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$32M
Change in Working Capital	$8M
OPERATING CASH FLOW	$66M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$1M
NET CASH FROM INVESTING	-$1M
Net Debt Issuance	-$141M
Common Stock Repurchased	-$1M
Common Dividends Paid	-$10M
Other Financing Activities	$30M
NET CASH FROM FINANCING	-$4M
FREE CASH FLOW	$66M
Net Change in Cash	$61M

Balance Sheet

Item	Amount
Cash & Equivalents	$61M
Short-Term Investments	$345M
Net Receivables	$2M
Inventory	$32M
Other Current Assets	$32M
TOTAL CURRENT ASSETS	$440M
PP&E (Net)	$0
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$345M
Tax Assets	$0
Other Non-Current Assets	-$342M
TOTAL NON-CURRENT ASSETS	$3M
TOTAL ASSETS	$443M
Account Payables	$7M
Short-Term Debt	$174M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$182M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$182M
Common Stock	$18.0K
Additional Paid-In Capital	$259M
Retained Earnings	-$1M
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$3M
TOTAL STOCKHOLDERS' EQUITY	$261M
Minority Interest	$0
TOTAL EQUITY	$261M
TOTAL LIABILITIES & EQUITY	$443M
Total Debt	$174M
Net Debt	$113M