PSEC FY 2009 Earnings Report — Prospect Capital Corporation Revenue & Financial Results | Market Cap Arena

Prospect Capital CorporationPSEC

FY 2009 Earnings

Reported June 30, 2009

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2009	Prior Q	FY 2008	QoQ Change	YoY Change
Revenue	$61M	—	$63M	—	-2.8%
Op. Income	$53M	—	$34M	—	56.9%
Gross Margin	56.5%	—	68.0%	—	-11.5pp
Net Margin	57.2%	—	43.7%	—	13.5pp
EPS (Diluted)	$1.11	—	$1.17	—	-5.1%
Free Cash Flow	-$74M	—	-$204M	—	63.7%

Revenue Flow

Item	Amount
REVENUE	$61M
Cost of Revenue	$27M
GROSS PROFIT	$35M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$8M
SG&A Expenses	$8M
Other Expenses	$533.0K
Operating Expenses	$8M
Cost & Expenses	$8M
OPERATING INCOME	$53M
Interest Income	$63M
Interest Expense	$6M
Other Income/Expenses	-$18M
INCOME BEFORE TAX	$35M
Income Tax Expense	$0
Net Income from Continuing Ops	$35M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$35M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$35M
D&A	-$18M
EBIT	$53M
EBITDA	$53M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$61M
Cost of Revenue	$27M
GROSS PROFIT	$35M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$8M
SG&A Expenses	$8M
Other Expenses	$533.0K
Operating Expenses	$8M
Cost & Expenses	$8M
OPERATING INCOME	$53M
Interest Income	$63M
Interest Expense	$6M
Other Income/Expenses	-$18M
INCOME BEFORE TAX	$35M
Income Tax Expense	$0
Net Income from Continuing Ops	$35M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$35M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$35M
D&A	-$18M
EBIT	$53M
EBITDA	$53M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$35M
Depreciation & Amortization	$0
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	-$115M
Change in Working Capital	$6M
OPERATING CASH FLOW	-$74M
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	$34M
Common Stock Repurchased	$0
Common Dividends Paid	-$43M
Other Financing Activities	-$7M
NET CASH FROM FINANCING	$83M
FREE CASH FLOW	-$74M
Net Change in Cash	$9M

Balance Sheet

Item	Amount
Cash & Equivalents	$10M
Short-Term Investments	$99M
Net Receivables	$4M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$113M
PP&E (Net)	$0
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$646M
Tax Assets	$0
Other Non-Current Assets	-$92M
TOTAL NON-CURRENT ASSETS	$554M
TOTAL ASSETS	$667M
Account Payables	$0
Short-Term Debt	$125M
Deferred Revenue	$0
Other Current Liabilities	$535.0K
TOTAL CURRENT LIABILITIES	$134M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$134M
Common Stock	$43.0K
Additional Paid-In Capital	$546M
Retained Earnings	$24M
Treasury Stock	$0
Accum. Other Comp. Income	-$37M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$533M
Minority Interest	$0
TOTAL EQUITY	$533M
TOTAL LIABILITIES & EQUITY	$667M
Total Debt	$125M
Net Debt	$115M