PNNT FY 2017 Earnings Report — PennantPark Investment Corporation Revenue & Financial Results | Market Cap Arena

PennantPark Investment CorporationPNNT

FY 2017 Earnings

Reported November 29, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$95M	—	$49M	—	91.6%
Op. Income	$63M	—	$21M	—	200.7%
Gross Margin	71.8%	—	44.0%	—	27.8pp
Net Margin	65.3%	—	38.0%	—	27.3pp
EPS (Diluted)	$0.87	—	$0.26	—	234.6%
Free Cash Flow	$69M	—	$158M	—	-56.1%

Revenue Flow

Item	Amount
REVENUE	$95M
Cost of Revenue	$27M
GROSS PROFIT	$68M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$6M
SG&A Expenses	$6M
Other Expenses	-$2M
Operating Expenses	$4M
Cost & Expenses	$31M
OPERATING INCOME	$63M
Interest Income	$116M
Interest Expense	$27M
Other Income/Expenses	$0
INCOME BEFORE TAX	$63M
Income Tax Expense	$2M
Net Income from Continuing Ops	$62M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$62M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$62M
D&A	$0
EBIT	$63M
EBITDA	$63M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$95M
Cost of Revenue	$27M
GROSS PROFIT	$68M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$6M
SG&A Expenses	$6M
Other Expenses	-$2M
Operating Expenses	$4M
Cost & Expenses	$31M
OPERATING INCOME	$63M
Interest Income	$116M
Interest Expense	$27M
Other Income/Expenses	$0
INCOME BEFORE TAX	$63M
Income Tax Expense	$2M
Net Income from Continuing Ops	$62M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$62M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$62M
D&A	$0
EBIT	$63M
EBITDA	$63M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$62M
Depreciation & Amortization	$0
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$8M
Change in Working Capital	-$322.0K
OPERATING CASH FLOW	$69M
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	-$41M
Common Stock Repurchased	$0
Common Dividends Paid	-$65M
Other Financing Activities	-$2M
NET CASH FROM FINANCING	-$108M
FREE CASH FLOW	$69M
Net Change in Cash	-$37M

Balance Sheet

Item	Amount
Cash & Equivalents	$38M
Short-Term Investments	$0
Net Receivables	$6M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$49M
PP&E (Net)	$0
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$115M
Tax Assets	$0
Other Non-Current Assets	$1.0B
TOTAL NON-CURRENT ASSETS	$1.2B
TOTAL ASSETS	$1.2B
Account Payables	$21M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$21M
Long-Term Debt	$526M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$9M
TOTAL NON-CURRENT LIABILITIES	$535M
TOTAL LIABILITIES	$555M
Common Stock	$71.1K
Additional Paid-In Capital	$819M
Retained Earnings	$3M
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	-$175M
TOTAL STOCKHOLDERS' EQUITY	$647M
Minority Interest	$0
TOTAL EQUITY	$647M
TOTAL LIABILITIES & EQUITY	$1.2B
Total Debt	$526M
Net Debt	$488M