PNNT FY 2014 Earnings Report — PennantPark Investment Corporation Revenue & Financial Results | Market Cap Arena

PennantPark Investment CorporationPNNT

FY 2014 Earnings

Reported November 12, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$145M	—	$116M	—	25.5%
Op. Income	$111M	—	$92M	—	21.1%
Gross Margin	86.1%	—	86.7%	—	-0.7pp
Net Margin	76.3%	—	79.2%	—	-2.9pp
EPS (Diluted)	$1.66	—	$1.39	—	19.4%
Free Cash Flow	-$173M	—	$40M	—	-527.9%

Revenue Flow

Item	Amount
REVENUE	$145M
Cost of Revenue	$20M
GROSS PROFIT	$125M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$6M
SG&A Expenses	$6M
Other Expenses	$8M
Operating Expenses	$14M
Cost & Expenses	$34M
OPERATING INCOME	$111M
Interest Income	$138M
Interest Expense	$20M
Other Income/Expenses	$0
INCOME BEFORE TAX	$111M
Income Tax Expense	$72.6K
Net Income from Continuing Ops	$111M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$111M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$111M
D&A	$0
EBIT	$111M
EBITDA	$111M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$145M
Cost of Revenue	$20M
GROSS PROFIT	$125M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$6M
SG&A Expenses	$6M
Other Expenses	$8M
Operating Expenses	$14M
Cost & Expenses	$34M
OPERATING INCOME	$111M
Interest Income	$138M
Interest Expense	$20M
Other Income/Expenses	$0
INCOME BEFORE TAX	$111M
Income Tax Expense	$72.6K
Net Income from Continuing Ops	$111M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$111M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$111M
D&A	$0
EBIT	$111M
EBITDA	$111M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$111M
Depreciation & Amortization	$0
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	-$228M
Change in Working Capital	-$56M
OPERATING CASH FLOW	-$173M
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	$160M
Common Stock Repurchased	$0
Common Dividends Paid	-$73M
Other Financing Activities	-$4M
NET CASH FROM FINANCING	$181M
FREE CASH FLOW	-$173M
Net Change in Cash	$8M

Balance Sheet

Item	Amount
Cash & Equivalents	$67M
Short-Term Investments	$0
Net Receivables	$14M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$80M
PP&E (Net)	$0
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$38M
Tax Assets	$0
Other Non-Current Assets	$1.3B
TOTAL NON-CURRENT ASSETS	$1.3B
TOTAL ASSETS	$1.4B
Account Payables	$27M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$27M
Long-Term Debt	$527M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$30M
TOTAL NON-CURRENT LIABILITIES	$556M
TOTAL LIABILITIES	$584M
Common Stock	$75.1K
Additional Paid-In Capital	$852M
Retained Earnings	-$12M
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	-$13M
TOTAL STOCKHOLDERS' EQUITY	$828M
Minority Interest	$0
TOTAL EQUITY	$828M
TOTAL LIABILITIES & EQUITY	$1.4B
Total Debt	$527M
Net Debt	$460M