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Solar Senior Capital Ltd. Announces Quarter And Fiscal Year Ended December 31, 2012 Financial Results; Declares Monthly Dividend Of $0.1175 Per Share For March 2013

Stocks in this article: SUNS

Solar Senior Capital Ltd. (NASDAQ:SUNS), today reported earnings of $0.76 million, or $0.08 per share for the quarter ended December 31, 2012 and $13.9 million, or $1.46 per share, for the fiscal year ended December 31, 2012. Net investment income was $3.4 million, or $0.36 per share, for the fourth quarter and $12.5 million, or $1.32 per share, for the fiscal year. Excluding the non-recurring expenses of approximately $1.0 million related to the amendment and extension of our credit facility, Solar Senior Capital’s net investment income in the fourth quarter would have been $0.45 per share. Net asset value (NAV) per share was $18.33 at December 31, 2012 compared to $18.60 at September 30, 2012 and $18.15 at December 31, 2011.

Solar Senior Capital Ltd. (the “Company”) also announced that its Board of Directors has declared a monthly dividend of $0.1175 per share for March 2013, which will be payable on April 2, 2013 to stockholders of record on March 21, 2013. The Company expects the dividend to be paid from taxable earnings with specific tax characteristics reported to stockholders after the end of the 2013 calendar year.


At December 31, 2012:

Investment Portfolio: $212.6 million

Number of portfolio companies: 31

Net Assets: $174.1 million

Net Asset Value per share: $18.33

Portfolio Activity for the Quarter Ended December 31, 2012:

Investments made during the quarter: $59.9 million

Investments repaid and sold during the quarter: $80.7 million

Portfolio Activity for the Fiscal Year Ended December 31, 2012

Investments made during the year: $196.2 million

Investments repaid and sold during the year: $162.6 million

Operating Results for the Quarter Ended December 31, 2012

Net investment income: $3.4 million

Net realized and unrealized losses: $2.7 million

Net increase in net assets from operations: $0.8 million

Net investment income per share: $0.36

Operating Results for the Year Ended December 31, 2012

Net investment income: $12.5 million

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