Investcorp Credit Management BDC Reports $3.2 Million Net Income for Fiscal Year 2023
The company announces $26.7 million in revenue for the fiscal year, reflecting a steady performance.
Investcorp Credit Management BDC, Inc.(CMFNL) and its subsidiaries have released their con solidated statements of assets and liabilities for June 30, 2023. The report reveals a net income of $3.2 million and total revenue of $26.7 million for the fiscal year. These financial figures indicate a stable performance for the company despite the ever-changing economic landscape.
Steady Net Income of $3.2 Million
Investcorp Credit Management BDC, Inc. reported a net income of $3.2 million for the fiscal year ending on June 30, 2023. This positive figure reflects the company's ability to generate profits and maintain financial stability in a challenging economic environment.
Total Revenue of $26.7 Million
The company's total revenue for the fiscal year amounted to $26.7 million, showcasing a consistent performance compared to the previous years. This revenue primarily consists of interest income, payment-in-kind interest income, dividend income, payment-in-kind dividend income, and other fee income.
Investcorp Credit Management BDC, Inc. has maintained its ability to generate revenue from its investment portfolio, contributing to its overall financial health.
Financial Overview
The consolidated statements of assets and liabilities for June 30, 2023, reveal a snapshot of the company's financial health:
Assets
- Non-controlled, non-affiliated investments at fair value: $210.2 million
- Affiliated investments at fair value: $9.96 million
- Total investments at fair value: $220.1 million
- Cash: $1.09 million
- Cash, restricted: $8.06 million
- Principal receivable: $93,581
- Interest receivable: $2.04 million
- Payment-in-kind interest receivable: $46,088
- Other receivables: $1,050
- Prepaid expenses and other assets: $361,719
- Total Assets: $231.8 million
Liabilities
- Notes payable (Revolving credit facility): $71.9 million
- Notes payable (2026 Notes payable): $65 million
- Deferred debt issuance costs: -$1.22 million
- Unamortized discount: -$0.20 million
- Total Notes payable, net: $135.5 million
- Payable for investments purchased: $1.8 million
- Dividend payable: $2.59 million
- Income-based incentive fees payable: $0.58 million
- Base management fees payable: $0.91 million
- Interest payable: $2.29 million
- Directors’ fees payable: $15,755
- Accrued expenses and other liabilities: $0.45 million
- Total Liabilities: $144.1 million
Net Assets
- Common stock: $14,392
- Additional paid-in capital: $203.3 million
- Distributable earnings (loss): -$115.6 million
- Total Net Assets: $87.7 million
Total Liabilities and Net Assets: $231.8 million
Net Asset Value Per Share: $6.09
Investcorp Credit Management BDC, Inc. has demonstrated financial resilience by reporting a net income of $3.2 million and total revenue of $26.7 million for the fiscal year ending June 30, 2023. Despite economic uncertainties, the company has maintained a stable net asset value per share of $6.09, indicating its commitment to delivering value to shareholders.
