PSEC FY 2015 Earnings Report — Prospect Capital Corporation Revenue & Financial Results | Market Cap Arena

Prospect Capital CorporationPSEC

FY 2015 Earnings

Reported August 26, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2015	Prior Q	FY 2014	QoQ Change	YoY Change
Revenue	$553M	—	$476M	—	16.3%
Op. Income	$346M	—	$319M	—	8.6%
Gross Margin	73.0%	—	76.4%	—	-3.5pp
Net Margin	62.6%	—	67.1%	—	-4.5pp
EPS (Diluted)	$0.98	—	$1.06	—	-7.5%
Free Cash Flow	$45M	—	-$1.7B	—	102.6%

Revenue Flow

Item	Amount
REVENUE	$553M
Cost of Revenue	$150M
GROSS PROFIT	$404M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$30M
SG&A Expenses	$30M
Other Expenses	$28M
Operating Expenses	$57M
Cost & Expenses	$207M
OPERATING INCOME	$346M
Interest Income	$749M
Interest Expense	$150M
Other Income/Expenses	$0
INCOME BEFORE TAX	$346M
Income Tax Expense	$0
Net Income from Continuing Ops	$346M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$346M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$346M
D&A	$0
EBIT	$346M
EBITDA	$346M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$553M
Cost of Revenue	$150M
GROSS PROFIT	$404M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$30M
SG&A Expenses	$30M
Other Expenses	$28M
Operating Expenses	$57M
Cost & Expenses	$207M
OPERATING INCOME	$346M
Interest Income	$749M
Interest Expense	$150M
Other Income/Expenses	$0
INCOME BEFORE TAX	$346M
Income Tax Expense	$0
Net Income from Continuing Ops	$346M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$346M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$346M
D&A	$0
EBIT	$346M
EBITDA	$346M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$346M
Depreciation & Amortization	$0
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	-$337M
Change in Working Capital	$37M
OPERATING CASH FLOW	$45M
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	$207M
Common Stock Repurchased	$0
Common Dividends Paid	-$415M
Other Financing Activities	-$7M
NET CASH FROM FINANCING	-$70M
FREE CASH FLOW	$45M
Net Change in Cash	-$24M

Balance Sheet

Item	Amount
Cash & Equivalents	$110M
Short-Term Investments	$0
Net Receivables	$23M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$134M
PP&E (Net)	$0
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$6.7B
TOTAL NON-CURRENT ASSETS	$6.7B
TOTAL ASSETS	$6.8B
Account Payables	$70M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$70M
Long-Term Debt	$3.0B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$42M
TOTAL NON-CURRENT LIABILITIES	$3.0B
TOTAL LIABILITIES	$3.1B
Common Stock	$359.0K
Additional Paid-In Capital	$4.0B
Retained Earnings	-$21M
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	-$252M
TOTAL STOCKHOLDERS' EQUITY	$3.7B
Minority Interest	$0
TOTAL EQUITY	$3.7B
TOTAL LIABILITIES & EQUITY	$6.8B
Total Debt	$3.0B
Net Debt	$2.9B