Prospect Capital Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended March 31, 2023
May 09, 2023 at 04:15 pm EDT
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Prospect Capital Corporation reported earnings results for the third quarter and nine months ended March 31, 2023. For the third quarter, the company reported revenue was USD 215.12 million compared to USD 181.43 million a year ago. Net loss was USD 89.01 million compared to net income of USD 164.3 million a year ago. Basic loss per share from continuing operations was USD 0.27 compared to basic earnings per share from continuing operations of USD 0.4 a year ago. Diluted loss per share from continuing operations was USD 0.27 compared to diluted earnings per share from continuing operations of USD 0.38 a year ago.
For the nine months, revenue was USD 630.71 million compared to USD 526.28 million a year ago. Net loss was USD 109.18 million compared to net income of USD 630.04 million a year ago. Basic loss per share from continuing operations was USD 0.4 compared to basic earnings per share from continuing operations of USD 1.57 a year ago. Diluted loss per share from continuing operations was USD 0.4 compared to diluted earnings per share from continuing operations of USD 1.5 a year ago.
Prospect Capital Corporation is a business development company that focuses on lending to and investing in private businesses. The Companyâs investment objective is to generate both current income and long-term capital appreciation through debt and equity investments. It invests primarily in senior and subordinated debt and equity of private companies in need of capital for acquisitions, divestitures, growth, development, recapitalizations and other purposes. It invests primarily in first and second lien secured loans and unsecured debt, which in some cases includes an equity component. It invests in debt and equity positions of structured credit, which are a form of securitization in which the cash flows of a portfolio of loans are pooled and passed on to different classes of owners in various tranches. It may also acquire controlling interests in companies in conjunction with making secured debt investments in such companies. Its investment adviser is Prospect Capital Management L.P.
PROSPECT CAPITAL CORPORATION 
