Henri Steenkamp

Saratoga Investment Corp. Announces Fiscal Third Quarter 2015 Financial Results

NEW YORK, Jan. 14, 2015 /PRNewswire/ — Saratoga Investment Corp. (NYSE: SAR) (“Saratoga Investment” or “the Company”), a business development company, today announced financial results for its 2015 fiscal third quarter.

 

Summary Financial Information:

  • Net investment income on a weighted average per share basis of $0.50 for the quarter ended November 30, 2014. Adjusted for the incentive fee accrual related to net unrealized capital gains, the net investment income per share was $0.53, an increase of $0.10 per share since last quarter.
  • Net investment income of $2.7 million for the quarter ended November 30, 2014. Adjusted for the incentive fee accrual related to net unrealized capital gains, the net investment income was $2.8 million.
  • Net investment income yield as percentage of average net asset value (“Net Investment Income Yield”) was 9.0% for the quarter ended November 30, 2014. Adjusted for the incentive fee accrual related to net unrealized capital gains, the Net Investment Income Yield was 9.4% (including dividend income), an increase from 7.7% since last quarter.
  • Return on equity was 11.5% for the quarter ended November 30, 2014, an increase from 10.6% since last quarter.
  • Earnings per share was $0.64, an increase from $0.58 since last quarter.
  • NAV was $122.3 million as of November 30, 2014, a $7.4 million increase from an NAV of $114.9 million as of February 28, 2014.
  • NAV per share was $22.74 as of November 30, 2014, compared to $21.36 as of February 28, 2014.
  • Investment portfolio activity for the quarter ended November 30, 2014 –
    • Cost of investments made during the period: $30.6 million
    • Principal repayments during the period: $26.8 million

Read the full press release at Saratoga Investment Corp.