Stellus Capital Investment Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 07, 2023 at 05:25 pm EST
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Stellus Capital Investment Corporation reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 27.17 million compared to USD 20.14 million a year ago. Net loss was USD 2.4 million compared to net income of USD 3.96 million a year ago. Basic loss per share from continuing operations was USD 0.11 compared to basic earnings per share from continuing operations of USD 0.2 a year ago.
For the nine months, revenue was USD 77.83 million compared to USD 51.75 million a year ago. Net income was USD 6.05 million compared to USD 10.51 million a year ago. Basic earnings per share from continuing operations was USD 0.28 compared to USD 0.54 a year ago.
Stellus Capital Investment Corporation is an externally managed, closed-end, non-diversified management investment company that operates as a business development company. Its investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments in middle-market companies. It seeks to achieve its investment objective by originating and investing primarily in private United States middle-market companies (typically those with $5.0 million to $50.0 million of earnings before interest, taxes, depreciation and amortization (EBITDA)) through first lien, second lien, unitranche and unsecured debt financing, with corresponding equity co-investments. It invests in various sectors, such as, services: business, healthcare and pharmaceuticals, consumer goods: durable, consumer goods: non-durable, media: diversified and production others. Its investment adviser is Stellus Capital Management, LLC.