Swk Holdings Corporation (SWKH) Misses Q2 EPS by 8c

Swk Holdings Corporation (NASDAQ: SWKH) reported Q2 EPS of $0.07, $0.08 worse than the analyst estimate of $0.15. Revenue for the quarter came in at $7.9 million versus the consensus estimate of $6.2 million.

Second Quarter 2020 Financial Highlights

• Core specialty finance segment generated a 12.2% adjusted ROIC with yielding assets increasing 5.3% year over year to an all-time high of $178.7 million
• Total revenue for the quarter ended June 30, 2020 was $7.9 million, a 40% increase from $5.7 million for the quarter ended June 30, 2019
• Quarterly GAAP net income of $0.9 million, or $0.07 per diluted share, and non-GAAP adjusted net income of $4.0 million
• Non-GAAP specialty finance net income of $5.7 million for the quarter ended June 30, 2020, as compared to $4.3 million for the quarter ended June 30, 2019
• Tangible financing book value per share1 of $15.05 as of June 30, 2020
• Deployed $0.6 million during the quarter, with an additional $2.0 million deployed post quarter close, to existing borrowers. As of August 14, 2020, SWK had approximately $15.8 million in cash and equivalents and an additional $16.3 million availability remaining on a revolving credit facility

"The second quarter continued what has been a strong start to the year for SWK, highlighted by strong specialty finance segment results, with our earning assets achieving an all-time high and an adjusted return of invested capital of 12.2% year to date," stated Winston Black, Chairman and CEO of SWK. "The credit quality of our specialty finance portfolio is strong with no new non-accrual positions during the quarter, despite the extreme challenges presented by the Covid-19 pandemic. We continue to dialogue with innovative companies seeking growth capital, and we believe the current market environment is favorable for SWK\'s specialty finance strategy."

For earnings history and earnings-related data on Swk Holdings Corporation (SWKH) click here.

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