OFS Capital (OFS) Misses Q4 EPS by 1c

OFS Capital (NASDAQ: OFS) reported Q4 EPS of $0.34, $0.01 worse than the analyst estimate of $0.35.

FINANCIAL HIGHLIGHTS

• Fourth quarter net investment income of $4.6 million, or $0.34 per common share.
• Full year 2019 net investment income of $19.1 million, or $1.43 per common share - an increase of 4% year-over-year and above the $1.36 regular distribution.
• Paid $1.36 per share in distributions in 2019.
• Closed investments in the fourth quarter of approximately $52.5 million.
• Net asset value (\"NAV\") per share decreased to $12.46 at December 31, 2019 from $12.74 at September 30, 2019 due to unrealized depreciation of the portfolio.
• At December 31, 2019, 90% of our loan portfolio consisted of senior secured loans, based on fair value.
• On March 11, 2020, OFS Capital\'s Board of Directors declared a distribution of $0.34 per share for the first quarter of 2020, payable on March 31, 2020 to stockholders of record as of March 24, 2020.

"Our net investment income again covered our distribution," said Bilal Rashid, OFS Capital's Chairman and Chief Executive Officer. "We are pleased to declare our 29th consecutive quarterly distribution of $0.34 per share since our IPO in late 2012.

"We also remain focused on capital preservation. 90% of our total portfolio consisted of senior secured loans, based on our fair value, while our financing is long term and flexible. Our $2.1 billion platform has been in existence since 1994 and navigated multiple credit cycles. As a result, we believe we are well positioned for the future.”

For earnings history and earnings-related data on OFS Capital (OFS) click here.

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