PennantPark reports Q EPS 24c, consensus 23c

“We are pleased to announce another quarter of solid net investment income, which is in excess of our dividend by a healthy margin,” said Arthur Penn, Chairman and CEO. “Our earnings stream continues to be robust and is driven in part by the excellent returns generated by our PSLF Joint Venture.” As of December 31, our portfolio totaled $1,210.8M, which consisted of $677.7M or 56% of first lien secured debt, $49.8M or 4% of U.S. Government Securities, $78.4M or 7% of second lien secured debt, $151.1M or 12% of subordinated debt and $253.7 million or 21% of preferred and common equity . Our debt portfolio consisted of 96% variable-rate investments and 4% fixed-rate investments. As of December 31 we had one portfolio company on non-accrual, representing 1.0% and zero of our overall portfolio on a cost and fair value basis, respectively. As of December 31 the portfolio had net unrealized depreciation of $21.3M .Our overall portfolio consisted of 139 companies with an average investment size of $8.4M, and a weighted average yield on interest bearing debt investments of 12.6%.”