OHA Investment Corporation Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018
August 14, 2018 at 05:29 pm EDT
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OHA Investment Corporation announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported total investment income of $2,627,000 compared with $2,475,000 for the same period a year ago. Net investment income was $667,000 or $0.03 per share compared with $145,000 or $0.01 per share for the same period a year ago. Total net realized capital loss on investments was $55,965,000 compared with $12,659,000 for the same period a year ago. Total net realized capital loss on investments was $55,965,000 compared to $12,659,000 for the same period a year ago. Net increase in net assets resulting from operations was $1,008,000 or $0.05 per common share compared with net decrease in net assets resulting from operations of $4,896,000 or $0.24 per common share for the same period a year ago. Net realized and unrealized income on investments per share was $0.02 compared to loss of $0.25 a year ago.
For the six months, the company reported total investment income of $4,910,000 compared with $4,930,000 for the same period a year ago. Net investment income was $572,000 or $0.02 per share compared with $338,000 or $0.02 per share for the same period a year ago. Total net realized capital loss on investments was $55,994,000 compared to $12,564,000 for the same period a year ago. Net increase in net assets resulting from operations was $2,739,000 or $0.14 per common share compared with decrease of $23,987,000 or $1.19 per common share for the same period a year ago. Net realized and unrealized income on investments per share was $0.11 compared to loss of $1.21 a year ago. Net asset value, end of period was $2.46 per share compared with $2.76 per share for the same period a year ago.
OHA Investment Corporation is a specialty finance company. The Company focuses primarily on providing direct lending solutions to middle market private companies across industry sectors. The Company's investment portfolio includes debt securities and other investments in upstream exploration and production companies engaged in the acquisition, development and production of oil and natural gas properties in and along the Gulf Coast, in the state and federal waters of the Gulf of Mexico, and in the Permian Basin, Mid-Continent and Rocky Mountain areas. The Company is an externally managed, closed-end, non-diversified management investment company. The Company invests primarily in senior and junior secured, unsecured and subordinated loans, and to debt securities or preferred stock of the United States private and public middle market companies. The Company may also invest in equity, distressed debt and other assets. The Company's investment advisor is Oak Hill Advisors, L.P.