As a reminder, this call is being recorded for replay purposes. I will now turn the call over to David Golub, Chief Executive Officer of Golub Capital BDC.
David B. Golub
Thank you, Eric. Good afternoon, everybody, and thanks for joining us today. I’m joined today by Ross Teune, our Chief Financial Officer. Earlier today, we issued our third quarter earnings release and posted a supplemental earnings presentation on the website. We will be referring to this presentation throughout the call.
I’d like to start today by providing an overview of the June 30, 2012 quarterly financial results, Ross is then going to take you through the quarterly results in more details and I’ll come back and provide some details on our perhaps puzzling simultaneous announcement of both board approved share repurchase program and then At the Market or ATM common stock program, and I’ll also provide some commentary on current market conditions.
With that, let’s get started. Please turn to Slide 1 of the investor deck. Let me start by saying how delight I am that this will the last quarter I have to walk you all through the accounting for the total return swap. To remind you, pursuant SEC guidance, we report spread income from the swap below the net investment income line, but incentive fees related to the swap above the line. So, let’s look at net investment income two ways.The first way, as reported net investment income for the quarter ended June 30 was $6.7 million or $0.26 per share and that compares to $7.1 million or $0.29 per share for the quarter ended March 31. Adjusted to include net spread payments of $1 million from the swap, NII was $0.30 per share for the quarter ended June 30 as compared to $0.33 per share for the quarter ended March 31. Given the weak originations for the quarter and I’ll talk more about originations for the quarter in a few minutes that adjusted NII levels right where we expected it to be.
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