This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Full Circle Capital Corporation Announces Third Quarter Fiscal 2014 Earnings

Stocks in this article: FULL

Full Circle Capital Corporation (Nasdaq: FULL) (the “Company”) today announced its financial results for the third quarter of fiscal 2014 ended March 31, 2014.

Financial Highlights for the Third Quarter of Fiscal 2014

  • Total investment income was $3.2 million, an increase of 14.3% compared to $2.8 million for the three months ended March 31, 2013.
  • Net investment income was $1.4 million, or $0.15 per share, compared to $1.3 million, or $0.18 per share, for the three months ended March 31, 2013.
  • Net realized and unrealized gains were $2.0 million, or $0.21 per share. Unrealized gains on investments were $1.8 million, or $0.18 per share. Realized gains were $0.2 million, or $0.02 per share.
  • The above resulted in a net increase in net assets from operations of $3.4 million, or $0.36 per share.
  • Net asset value was $7.20 per share at March 31, 2014.
  • Per share amounts are based on approximately 9.4 million weighted average shares outstanding compared to 7.6 million weighted average shares outstanding for the third quarter of 2013, reflecting the common equity offerings completed in January and February, 2014.
  • Total portfolio investments at March 31, 2014 were $90.1 million compared to $88.1 million at March 31, 2013 and $75.9 million at December 31, 2013.
  • Weighted average portfolio interest rate was 11.41% at March 31, 2014.
  • New originations and expansion of facilities to existing borrowers totaled $25.9 million, including five new portfolio companies, during the three months ended March 31, 2014. Repayments and realizations totaled $9.3 million.
  • At March 31, 2014, 86% of portfolio company investments were first lien senior secured loans.

On May 2, 2014, the Board of Directors declared monthly distributions for the first quarter of fiscal 2015 as follows:

Record Date     Payment Date   Per Share Amount
July 31, 2014     August 15, 2014   $0.067
August 29, 2014 September 15, 2014 $0.067
September 30, 2014     October 15, 2014   $0.067
 

These distributions equate to a $0.804 annualized distribution rate, or a current annualized yield of 10.65%, based on the closing price of the Company’s common stock of $7.55 per share on May 7, 2014.

1 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs