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Fifth Street Finance Corp. Announces Quarter Ended June 30, 2012 Financial Results

WHITE PLAINS, N.Y., Aug. 8, 2012 (GLOBE NEWSWIRE) -- Fifth Street Finance Corp. (Nasdaq:FSC) ("Fifth Street" or "we") announces its financial results for the third fiscal quarter ended June 30, 2012.

Third Quarter 2012 Financial Highlights
  • Net investment income for the quarter ended June 30, 2012 was $21.9 million or $0.27 per share, as compared to $16.5 million or $0.25 per share for the quarter ended June 30, 2011;  
  • Net asset value per share was $9.85 as of June 30, 2012, as compared to $9.87 as of March 31, 2012;  
  • Net unrealized appreciation for the quarter ended June 30, 2012 was $0.2 million or $0.00 per share, as compared to $18.5 million (including $14.0 million of reclassifications to realized losses) or $0.28 per share for the quarter ended June 30, 2011;  
  • There were no net realized losses for the quarter ended June 30, 2012.  For the quarter ended June 30, 2011, $14.1 million or $0.21 per share of net realized losses were recognized; and  
  • Net increase in net assets resulting from operations for the quarter ended June 30, 2012 was $22.1 million or $0.27 per share, as compared to $20.8 million or $0.31 per share for the quarter ended June 30, 2011.

Fourth Quarter 2012 and First Five Months of 2013 Dividend Declarations

Our Board of Directors has declared monthly dividends for the fourth fiscal quarter of 2012 and the first five months of fiscal year 2013 as follows:
  • $0.0958 per share, which was paid on July 31, 2012 to stockholders of record on July 13, 2012;
  • $0.0958 per share, payable on August 31, 2012 to stockholders of record on August 15, 2012;
  • $0.0958 per share, payable on September 28, 2012 to stockholders of record on September 14, 2012;
  • $0.0958 per share, payable on October 31, 2012 to stockholders of record on October 15, 2012;
  • $0.0958 per share, payable on November 30, 2012 to stockholders of record on November 15, 2012;
  • $0.0958 per share, payable on December 28, 2012 to stockholders of record on December 14, 2012;
  • $0.0958 per share, payable on January 31, 2013 to stockholders of record on January 15, 2013; and
  • $0.0958 per share, payable on February 28, 2013 to stockholders of record on February 15, 2013.

Portfolio and Investment Activity

Our Board of Directors determined the fair value of our portfolio at June 30, 2012 to be $1.20 billion, as compared to $1.12 billion at September 30, 2011. Total assets at June 30, 2012 were $1.32 billion, as compared to $1.21 billion at September 30, 2011.

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