OCSL FY 2013 Earnings Report — Oaktree Specialty Lending Corporation Revenue & Financial Results | Market Cap Arena

Oaktree Specialty Lending CorporationOCSL

FY 2013 Earnings

Reported November 25, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$145M	—	$111M	—	30.6%
Op. Income	$102M	—	$79M	—	28.2%
Gross Margin	76.8%	—	79.0%	—	-2.2pp
Net Margin	70.4%	—	71.7%	—	-1.3pp
EPS (Diluted)	$2.70	—	$2.91	—	-7.2%
Free Cash Flow	-$462M	—	-$92M	—	-404.2%

Revenue Flow

Item	Amount
REVENUE	$145M
Cost of Revenue	$33M
GROSS PROFIT	$111M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$12M
SG&A Expenses	$12M
Other Expenses	-$2M
Operating Expenses	$9M
Cost & Expenses	$43M
OPERATING INCOME	$102M
Interest Income	$174M
Interest Expense	$33M
Other Income/Expenses	$0
INCOME BEFORE TAX	$102M
Income Tax Expense	$0
Net Income from Continuing Ops	$102M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$102M
Net Income Deductions	-$4M
BOTTOM LINE NET INCOME	$106M
D&A	$0
EBIT	$102M
EBITDA	$102M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$145M
Cost of Revenue	$33M
GROSS PROFIT	$111M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$12M
SG&A Expenses	$12M
Other Expenses	-$2M
Operating Expenses	$9M
Cost & Expenses	$43M
OPERATING INCOME	$102M
Interest Income	$174M
Interest Expense	$33M
Other Income/Expenses	$0
INCOME BEFORE TAX	$102M
Income Tax Expense	$0
Net Income from Continuing Ops	$102M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$102M
Net Income Deductions	-$4M
BOTTOM LINE NET INCOME	$106M
D&A	$0
EBIT	$102M
EBITDA	$102M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$102M
Depreciation & Amortization	$0
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	-$600M
Change in Working Capital	$37M
OPERATING CASH FLOW	-$462M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$1.3B
Sales/Maturities of Investments	$60M
Other Investing Activities	$1.2B
NET CASH FROM INVESTING	$0
Net Debt Issuance	$174M
Common Stock Repurchased	$0
Common Dividends Paid	-$115M
Other Financing Activities	-$7M
NET CASH FROM FINANCING	$532M
FREE CASH FLOW	-$462M
Net Change in Cash	$71M

Balance Sheet

Item	Amount
Cash & Equivalents	$143M
Short-Term Investments	$0
Net Receivables	$12M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$155M
PP&E (Net)	$0
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$1.9B
TOTAL NON-CURRENT ASSETS	$1.9B
TOTAL ASSETS	$2.1B
Account Payables	$3M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$3M
Long-Term Debt	$646M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$55M
TOTAL NON-CURRENT LIABILITIES	$701M
TOTAL LIABILITIES	$703M
Common Stock	$1M
Additional Paid-In Capital	$1.5B
Retained Earnings	-$21M
Treasury Stock	$0
Accum. Other Comp. Income	-$121M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.4B
Minority Interest	$0
TOTAL EQUITY	$1.4B
TOTAL LIABILITIES & EQUITY	$2.1B
Total Debt	$646M
Net Debt	$503M