OFS Capital swings to Q3 net loss of $0.86 a share from Q2 profit
OFS•OFS Capital reported a third-quarter loss of $0.86 per share, compared with earnings of $0.42 in the previous quarter. Investment income fell 13% to $5.94 million, net investment income dropped 29% to $719,000, and net asset value per share declined 12% to $7.38.
1. Quarterly results
OFS Capital swung to a third-quarter loss of $0.86 per share from earnings of $0.42 in the previous quarter. Total investment income fell 13% quarter over quarter to $5.94 million, primarily due to lower interest income, while net investment income dropped 29% to $719,000. Net asset value per share declined 12% from June 30 to $7.38 at September 30, primarily due to investment losses. An October 5 transaction involving subsidiary SBIC I LP delivered $52.3 million; litigation seeks to unwind the deal.
