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AINV Reports NII Of $0.2077 Compared To A Dividend Of $0.20

|Includes: Apollo Investment (AINV)

AINV Reports NII of $0.2077 compared to a Dividend of $0.20
What They Earned: Apollo Investment Corporation reported for Q4-15 Total investment income of $94.325 million ($0.4074/share). Net investment income was $48.091 million ($0.2077/share). The net asset value per share was $7.56 compared to $7.83 at the end of last quarter and $8.43 at the end of Q4-14 (an annual decline of 10.32%). AINV had $73.863 million or $0.3190/share in realized and unrealized losses. PIK income totaled $10.2 million. As of December 31, 2015, 6.0% of total investments at amortized cost (or 2.5% of total investments at fair value) were on non-accrual status. Oil and Gas energy investments were 13.9% of AINV's portfolio. "Energy" was an additional 1.6% of the portfolio. As of June 30, 2015, 2.5% of total investments at amortized cost (or 0.4% of total investments at fair value) were on non-accrual status. Oil and Gas energy investments were 16.0% of AINV's portfolio at the end of Q2-15.

The Yahoo Finance consensus projections:

Earnings Est Current Qtr.
Dec 15
Next Qtr.
Mar 16
Current Year
Mar 16
Next Year
Mar 17
Avg. Estimate 0.21 0.21 0.84 0.84
No. of Analysts 18.00 18.00 18.00 16.00
Low Estimate 0.19 0.20 0.82 0.78
High Estimate 0.22 0.22 0.87 0.88
Revenue Est Current Qtr.
Dec 15
Next Qtr.
Mar 16
Current Year
Mar 16
Next Year
Mar 17
Avg. Estimate 94.43M 93.02M 387.41M 370.18M
No. of Analysts 8 8 9 8
Low Estimate 91.60M 89.50M 382.10M 360.15M
High Estimate 97.20M 96.42M 391.96M 392.93M
Year Ago Sales 110.03M 102.12M 433.63M 387.41M

My AINV spreadsheets:

  Q4-15 Q3-15 Q2-15 Q1-15 Q4-14 Q3-14 Q2-14 Q1-14 Q4-13 Q3-13 Q2-13
Realized & Unrealized Gains -73.863 -51.308 -44.596 -63.800 -77.742 -23.721 11.085 20.293 54.395 26.839 -33.563
Realized & Unrealized Gains/share - $0.3190 - $0.2175 - $0.1884 - $0.2695 - $0.3284 - $0.1002 $0.0468 $0.0857 $0.2298 $0.1134 - $0.1418

  Q4-15 Q3-15 Q2-15 Q1-15 Q4-14 Q3-14 Q2-14 Q1-14 Q4-13 Q3-13 Q2-13

Fee Income 0.747 2.898 3.538 1.134 4.596 4.395 2.362 2.691 3.396 2.255 4.514
Total Income 94.325 98.420 101.666 102.115 110.026 118.910 102.580 96.405 94.561 93.708 96.673
Fee Income % of TII 0.79% 2.94% 3.48% 1.11% 4.18% 3.70% 2.30% 2.79% 3.59% 2.41% 4.67%

Prepayment + accelerated OID 0.300 4.500 8.000 6.700 9.300 21.900 6.100 5.500 2.500 9.000 7.800
Pre + Fee Dollars 1.047 7.398 11.538 7.834 13.896 26.295 8.462 8.191 5.896 11.255 12.314
Pre + Fee % of TII 1.11% 7.89% 11.35% 7.67% 12.63% 22.11% 8.25% 8.66% 6.23% 12.01% 12.74%

  Q4-15 Q3-15 Q2-15 Q1-15 Q4-14 Q3-14 Q2-14 Q1-14 Q4-13
Total investment income 94.325 98.420 101.666 102.115 110.026 118.910 102.580 94.561 94.561
Net investment income 48.091 49.561 50.986 52.071 56.662 65.688 53.201 49.683 49.683
Investments @ fair value 3.069 3.194 3.314 3.350 3.514 3.665 3.645 3.479 3.184
Wt Av Share Count 231.537 235.873 236.741 236.741 236.741 236.741 236.741 236.741 224.741
TII/share $0.4074 $0.4173 $0.4294 $0.4313 $0.4647 $0.5023 $0.4333 $0.3994 $0.4207
NII/share $0.2077 $0.2101 $0.2154 $0.2199 $0.2393 $0.2775 $0.2247 $0.2097 $0.2211
NAV/share $7.56 $7.83 $8.01 $8.18 $8.43 $8.72 $8.74 $8.67 $8.57
Wt Av Yield 11.4% 11.6% 11.5% 11.2% 11.1% 11.0% 11.1% 11.1% 11.4%
  Q4-15 Q3-15 Q2-15 Q1-15 Q4-14 Q3-14 Q2-14 Q1-14 Q4-13 Q3-13 Q2-13
Realized & Unrealized Gains -73.863 -51.308 -44.596 -63.800 -77.742 -23.721 11.085 20.293 54.395 26.839 -33.563
Realized & Unrealized Gains/share - $0.3190 - $0.2175 - $0.1884 - $0.2695 - $0.3284 - $0.1002 $0.0468 $0.0857 $0.2298 $0.1134 - $0.1418

  Q4-15 Q3-15 Q2-15 Q1-15 Q4-14 Q3-14 Q2-14 Q1-14 Q4-13 Q3-13 Q2-13

Fee Income 0.747 2.898 3.538 1.134 4.596 4.395 2.362 2.691 3.396 2.255 4.514
Total Income 94.325 98.420 101.666 102.115 110.026 118.910 102.580 96.405 94.561 93.708 96.673
Fee Income % of TII 0.79% 2.94% 3.48% 1.11% 4.18% 3.70% 2.30% 2.79% 3.59% 2.41% 4.67%

Prepayment + accelerated OID 0.300 4.500 8.000 6.700 9.300 21.900 6.100 5.500 2.500 9.000 7.800
Pre + Fee Dollars 1.047 7.398 11.538 7.834 13.896 26.295 8.462 8.191 5.896 11.255 12.314
Pre + Fee % of TII 1.11% 7.89% 11.35% 7.67% 12.63% 22.11% 8.25% 8.66% 6.23% 12.01% 12.74%

  Q4-15 Q3-15 Q2-15 Q1-15 Q4-14 Q3-14 Q2-14 Q1-14 Q4-13
Total investment income 94.325 98.420 101.666 102.115 110.026 118.910 102.580 94.561 94.561
Net investment income 48.091 49.561 50.986 52.071 56.662 65.688 53.201 49.683 49.683
Investments @ fair value 3.069 3.194 3.314 3.350 3.514 3.665 3.645 3.479 3.184
Wt Av Share Count 231.537 235.873 236.741 236.741 236.741 236.741 236.741 236.741 224.741
TII/share $0.4074 $0.4173 $0.4294 $0.4313 $0.4647 $0.5023 $0.4333 $0.3994 $0.4207
NII/share $0.2077 $0.2101 $0.2154 $0.2199 $0.2393 $0.2775 $0.2247 $0.2097 $0.2211
NAV/share $7.56 $7.83 $8.01 $8.18 $8.43 $8.72 $8.74 $8.67 $8.57
Wt Av Yield 11.4% 11.6% 11.5% 11.2% 11.1% 11.0% 11.1% 11.1% 11.4%

Disclosure: I am/we are long AINV.