More on Prospect Capital Q1 results

|About: Prospect Capital Corpora... (PSEC)|By:, SA News Editor

Net increase in net assets from operations of $82.1M or $0.26 per share vs. $44.4M and $0.20 per share one year ago.

Net investment income of $98.5M or $0.31 per share vs. $59.6M and $0.26 a year ago. Quarterly dividend is in the area of $0.33.

Net asset value per share of $10.68 off a nickel from the end of Q4 after payment of dividend.

Debt-to-equity ratio of 67.9% up from 48% at the end of Q4. "Our objective is to grow net investment income per share in the coming quarters by focusing on matched-book funding to finance disciplined and accretive originations across our diversified lines of business."

Q1 investment highlights: Enters the aircraft leasing sector with $92.6M investment in Echelon; enters the "peer-to-peer" online direct lending industry with roughly a $40M investment; launched a Prospect senior loan strategic initiative (PSEN) as a yield enhancement for business. Closing on PSEN expected in a few months.

CC at 11 ET

Previously: Prospect Capital misses by $0.01, misses on revenue

PSEC +0.1% AH