PFLT FY 2018 Earnings Report — PennantPark Floating Rate Capital Ltd. Revenue & Financial Results | Market Cap Arena

PennantPark Floating Rate Capital Ltd.PFLT

FY 2018 Earnings

Reported November 14, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$64M	—	$49M	—	29.9%
Op. Income	$34M	—	$37M	—	-6.4%
Gross Margin	77.6%	—	83.1%	—	-5.5pp
Net Margin	52.3%	—	73.7%	—	-21.4pp
EPS (Diluted)	$0.87	—	$1.20	—	-27.5%
Free Cash Flow	-$208M	—	-$77M	—	-171.5%

Revenue Flow

Item	Amount
REVENUE	$64M
Cost of Revenue	$14M
GROSS PROFIT	$50M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$4M
SG&A Expenses	$4M
Other Expenses	$11M
Operating Expenses	$15M
Cost & Expenses	$30M
OPERATING INCOME	$34M
Interest Income	$68M
Interest Expense	$14M
Other Income/Expenses	$0
INCOME BEFORE TAX	$34M
Income Tax Expense	$800.0K
Net Income from Continuing Ops	$33M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$33M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$33M
D&A	$0
EBIT	$49M
EBITDA	$49M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$64M
Cost of Revenue	$14M
GROSS PROFIT	$50M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$4M
SG&A Expenses	$4M
Other Expenses	$11M
Operating Expenses	$15M
Cost & Expenses	$30M
OPERATING INCOME	$34M
Interest Income	$68M
Interest Expense	$14M
Other Income/Expenses	$0
INCOME BEFORE TAX	$34M
Income Tax Expense	$800.0K
Net Income from Continuing Ops	$33M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$33M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$33M
D&A	$0
EBIT	$49M
EBITDA	$49M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$33M
Depreciation & Amortization	$0
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	-$296M
Change in Working Capital	$54M
OPERATING CASH FLOW	-$208M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	$0
Net Debt Issuance	$219M
Common Stock Repurchased	$0
Common Dividends Paid	-$43M
Other Financing Activities	-$1M
NET CASH FROM FINANCING	$264M
FREE CASH FLOW	-$208M
Net Change in Cash	$53M

Balance Sheet

Item	Amount
Cash & Equivalents	$72M
Short-Term Investments	$0
Net Receivables	$3M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$76M
PP&E (Net)	$0
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$1.0B
Tax Assets	$0
Other Non-Current Assets	$0
TOTAL NON-CURRENT ASSETS	$1.0B
TOTAL ASSETS	$1.1B
Account Payables	$66M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$329M
TOTAL CURRENT LIABILITIES	$405M
Long-Term Debt	$136M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$136M
TOTAL LIABILITIES	$541M
Common Stock	$38.8K
Additional Paid-In Capital	$539M
Retained Earnings	-$4M
Treasury Stock	$0
Accum. Other Comp. Income	-$2M
Other Equity	$2M
TOTAL STOCKHOLDERS' EQUITY	$536M
Minority Interest	$0
TOTAL EQUITY	$536M
TOTAL LIABILITIES & EQUITY	$1.1B
Total Debt	$136M
Net Debt	$63M