Oxford Lane Capital ( NASDAQ: OXLC ) core net investment income and total investment income for its fiscal Q1 rose from the previous quarter, but so did its expenses. Net asset value slipped, reflecting net realized losses and net unrealized depreciation.
Oxford Lane Capital ( OXLC ) stock is falling 1.8% in Tuesday premarket trading.
Fiscal Q1 core net investment income of $82.1M, or $0.55 per share, increased from $57.9M, or $0.43 per share, in the previous quarter.
Total investment income for the quarter ended June 30, 2022 was $63.5M, up from $55.1M in the prior quarter.
Total expenses of $24.7M increased from $22.7M in the March quarter.
Net asset value of $5.07 per share at June 30, 2022 fell from $6.56 at March 31.
For the quarter, OXLC recorded a net decrease in net assets resulting from operations of ~$189.4M, or $1.28 per share, comprised of NII of ~$38.7M, net realized losses of ~$7.5M, and net unrealized depreciation of ~$220.6M.
During the quarter, Oxford Lane Capital ( OXLC ) made additional investments of ~$237.8M, and received ~$119.3M from sales and repayments of CLO investments.
Conference call at 9:00 AM ET; 1-844-200-6205; access code 216913.
Earlier, Oxford Lane Capital non-GAAP NII of $0.43, total investment income of $55.1M
For further details see:
Oxford Lane Capital Q1 investment income increases, net asset value dips