PSEC FY 2012 Earnings Report — Prospect Capital Corporation Revenue & Financial Results | Market Cap Arena

Prospect Capital CorporationPSEC

FY 2012 Earnings

Reported August 22, 2012

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2012	Prior Q	FY 2011	QoQ Change	YoY Change
Revenue	$243M	—	$186M	—	30.5%
Op. Income	$191M	—	$94M	—	102.6%
Gross Margin	84.1%	—	69.8%	—	14.3pp
Net Margin	78.7%	—	63.6%	—	15.1pp
EPS (Diluted)	$1.67	—	$1.38	—	21.0%
Free Cash Flow	-$229M	—	-$582M	—	60.6%

Revenue Flow

Item	Amount
REVENUE	$243M
Cost of Revenue	$39M
GROSS PROFIT	$204M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$13M
SG&A Expenses	$13M
Other Expenses	$0
Operating Expenses	$13M
Cost & Expenses	$52M
OPERATING INCOME	$191M
Interest Income	$220M
Interest Expense	$39M
Other Income/Expenses	$0
INCOME BEFORE TAX	$191M
Income Tax Expense	$0
Net Income from Continuing Ops	$191M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$191M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$191M
D&A	$0
EBIT	$191M
EBITDA	$191M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$243M
Cost of Revenue	$39M
GROSS PROFIT	$204M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$13M
SG&A Expenses	$13M
Other Expenses	$0
Operating Expenses	$13M
Cost & Expenses	$52M
OPERATING INCOME	$191M
Interest Income	$220M
Interest Expense	$39M
Other Income/Expenses	$0
INCOME BEFORE TAX	$191M
Income Tax Expense	$0
Net Income from Continuing Ops	$191M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$191M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$191M
D&A	$0
EBIT	$191M
EBITDA	$191M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$191M
Depreciation & Amortization	$0
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	-$418M
Change in Working Capital	-$3M
OPERATING CASH FLOW	-$229M
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	$257M
Common Stock Repurchased	$0
Common Dividends Paid	-$128M
Other Financing Activities	-$18M
NET CASH FROM FINANCING	$289M
FREE CASH FLOW	-$229M
Net Change in Cash	$60M

Balance Sheet

Item	Amount
Cash & Equivalents	$3M
Short-Term Investments	$0
Net Receivables	$15M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$18M
PP&E (Net)	$0
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$2.2B
TOTAL NON-CURRENT ASSETS	$2.2B
TOTAL ASSETS	$2.3B
Account Payables	$21M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$21M
Long-Term Debt	$664M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$58M
TOTAL NON-CURRENT LIABILITIES	$722M
TOTAL LIABILITIES	$743M
Common Stock	$140.0K
Additional Paid-In Capital	$1.5B
Retained Earnings	$24M
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	-$57M
TOTAL STOCKHOLDERS' EQUITY	$1.5B
Minority Interest	$0
TOTAL EQUITY	$1.5B
TOTAL LIABILITIES & EQUITY	$2.3B
Total Debt	$664M
Net Debt	$661M