PSEC FY 2017 Earnings Report — Prospect Capital Corporation Revenue & Financial Results | Market Cap Arena

Prospect Capital CorporationPSEC

FY 2017 Earnings

Reported August 28, 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	$455M	—	$305M	—	49.5%
Op. Income	$253M	—	$103M	—	144.7%
Gross Margin	68.6%	—	51.8%	—	16.8pp
Net Margin	55.5%	—	33.9%	—	21.6pp
EPS (Diluted)	$0.70	—	$0.29	—	141.4%
Free Cash Flow	$376M	—	$862M	—	-56.4%

Revenue Flow

Item	Amount
REVENUE	$455M
Cost of Revenue	$143M
GROSS PROFIT	$312M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$32M
SG&A Expenses	$32M
Other Expenses	$28M
Operating Expenses	$59M
Cost & Expenses	$203M
OPERATING INCOME	$253M
Interest Income	$669M
Interest Expense	$143M
Other Income/Expenses	$0
INCOME BEFORE TAX	$253M
Income Tax Expense	$0
Net Income from Continuing Ops	$253M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$253M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$253M
D&A	$0
EBIT	$253M
EBITDA	$253M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$455M
Cost of Revenue	$143M
GROSS PROFIT	$312M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$32M
SG&A Expenses	$32M
Other Expenses	$28M
Operating Expenses	$59M
Cost & Expenses	$203M
OPERATING INCOME	$253M
Interest Income	$669M
Interest Expense	$143M
Other Income/Expenses	$0
INCOME BEFORE TAX	$253M
Income Tax Expense	$0
Net Income from Continuing Ops	$253M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$253M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$253M
D&A	$0
EBIT	$253M
EBITDA	$253M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$253M
Depreciation & Amortization	$0
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$80M
Change in Working Capital	$44M
OPERATING CASH FLOW	$376M
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	-$32M
Common Stock Repurchased	$0
Common Dividends Paid	-$334M
Other Financing Activities	-$10M
NET CASH FROM FINANCING	-$376M
FREE CASH FLOW	$376M
Net Change in Cash	$285.0K

Balance Sheet

Item	Amount
Cash & Equivalents	$318M
Short-Term Investments	$0
Net Receivables	$10M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$330M
PP&E (Net)	$0
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$5.8B
TOTAL NON-CURRENT ASSETS	$5.8B
TOTAL ASSETS	$6.2B
Account Payables	$69M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$69M
Long-Term Debt	$2.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$107M
TOTAL NON-CURRENT LIABILITIES	$2.7B
TOTAL LIABILITIES	$2.8B
Common Stock	$360.0K
Additional Paid-In Capital	$4.0B
Retained Earnings	-$54M
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	-$583M
TOTAL STOCKHOLDERS' EQUITY	$3.4B
Minority Interest	$0
TOTAL EQUITY	$3.4B
TOTAL LIABILITIES & EQUITY	$6.2B
Total Debt	$2.6B
Net Debt	$2.3B