I would like now to turn the call over to Mr. David Golub, Chief Executive Officer of Golub Capital BDC. Please go ahead sir.
Thank you, operator and good morning to everyone, thank you for joining us today. I am joined today by Ross Teune, our Chief Financial Officer. I hope you’ve been able to review our earnings release and investor presentation which we posted on the website. We’ll be referring to this presentation throughout today’s call.
I’d like to start today by providing an overview of the December 31, 2011 quarterly financial results. Ross is then going to come back and take us through the quarterly results in more detail. And then I’m going to return and provide some commentary on our recent stock offering and provide also some summary of some recent regulatory matters.With that let’s get started. As I highlighted on page one of the investor presentation, net investment income for the quarter ended December 31, 2011 was $6.3 million or $0.29 a share, as compared to $6.5 million or $0.30 a share for the quarter ended September 30. Net investment income including the net spread payments of $700,000 generated from the total return swap was $0.32 a share for the quarter. We’ve included this additional non-GAAP measure which includes the net spread payments from the total return swap as we view the net spread payments from the total return swap is recurring source of private liquidity to pay dividends for investors. Net increase in net assets resulting from operations for the quarter ended December 31 was $6.2 million or $0.28 a share, as compared to $3 million or $0.14 a share for the quarter ended September 30. If we look at the combination of net realized and unrealized loss on investments on derivatives for the quarter, it was negative $200,000, a loss of $200,000 or $0.01 a share for the quarter. I am going to suggest when we talk about this, that we combine both realized and unrealized and combine the sum of those two into three categories to help explain where we got the negative $200,000 it’s a little bit confusing otherwise.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV