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OFS Capital Corporation Announces Second Quarter 2013 Financial Results

Stocks in this article: OFS

OFS Capital Corporation (NASDAQ: OFS) (“OFS Capital” or the “Company”) today announced its financial results for the fiscal quarter ended June 30, 2013, OFS Capital’s second full quarter of operations following its initial public offering (“IPO”) in November 2012.

HIGHLIGHTS ($ in millions, except for per share data)

Portfolio Results June 30, 2013
Investments, at fair value $ 228.3
Total assets $ 242.4
Net assets $ 142.0
Net asset value per share $ 14.76
Weighted average yield on debt investments 7.23%
  Quarter Ended June 30,
Operating Results   2013     2012
Total investment income $ 4.2 $ 4.5
Net investment income $ 1.5 $ 1.1
Net increase (decrease) in net assets resulting from operations $ 3.3 $ (0.4)
Portfolio Activity
Investments in new portfolio companies, at par $ 9.0 $ 8.1
Number of new portfolio companies 2 3
Number of portfolio companies at end of period 57 49

Other Key Data Points

  • On July 31, 2013, OFS Capital paid a second quarter 2013 dividend of $0.34 per share to shareholders of record as of July 17, 2013.
  • The aggregate fair value of OFS Capital’s investment assets was 99.4% of cost at June 30, 2013.

“We are focused on keeping our OFS Capital WM senior loan subsidiary fully invested in senior secured floating rate assets, which have enhanced the earnings of OFS Capital,” said Glenn Pittson, Chairman and Chief Executive Officer of OFS Capital. “At the same time, and as we announced last week, we are making progress towards our goal of converting our Tamarix Capital Partners, L.P. investment into a drop-down small business investment company fund within OFS Capital.”

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