Fifth Street Finance Corp. Announces Quarter Ended December 31, 2012 Financial Results

WHITE PLAINS, N.Y., Feb. 6, 2013 (GLOBE NEWSWIRE) -- Fifth Street Finance Corp. (Nasdaq:FSC) ("Fifth Street" or "we") announces its financial results for the first fiscal quarter ended December 31, 2012.

First Fiscal Quarter 2013 Financial Highlights
  • Net investment income for the quarter ended December 31, 2012 was $26.6 million or $0.28 per share, as compared to $21.0 million or $0.29 per share for the quarter ended December 31, 2011;  
  • Net asset value per share was $9.88 as of December 31, 2012, as compared to $9.92 as of September 30, 2012;  
  • Net unrealized depreciation for the quarter ended December 31, 2012 was $9.3 million (including $0.8 million of net reclassifications to realized gains) or $0.10 per share, as compared to net unrealized appreciation of $5.8 million (including $17.1 million of reclassifications to realized losses) or $0.08 per share for the quarter ended December 31, 2011;  
  • Net realized gains for the quarter ended December 31, 2012 were $0.6 million or $0.01 per share, as compared to $16.6 million of net realized losses or $(0.23) per share for the quarter ended December 31, 2011; and  
  • Net increase in net assets resulting from operations for the quarter ended December 31, 2012 was $17.8 million or $0.19 per share, as compared to $10.2 million or $0.14 per share for the quarter ended December 31, 2011.

Second and Third Fiscal Quarter 2013 Dividend Declarations

To date, our Board of Directors has declared monthly dividends for the second and third fiscal quarters of 2013 as follows:
  • $0.0958 per share, which was paid on January 31, 2013 to stockholders of record on January 15, 2013;
  • $0.0958 per share, payable on February 28, 2013 to stockholders of record on February 15, 2013;
  • $0.0958 per share, payable on March 29, 2013 to stockholders of record on March 15, 2013;
  • $0.0958 per share, payable on April 30, 2013 to stockholders of record on April 15, 2013; and
  • $0.0958 per share, payable on May 31, 2013 to stockholders of record on May 15, 2013.

Portfolio and Investment Activity

Our Board of Directors determined the fair value of our portfolio at December 31, 2012 to be $1.58 billion, as compared to $1.29 billion at September 30, 2012. Total assets at December 31, 2012 were $1.65 billion, as compared to $1.39 billion at September 30, 2012.

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