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Full Circle Capital Corporation – FULL – Announces Monthly Distributions of $0.077 Cents per Share for a Total of $0.231 Per Share for Second Fiscal Quarter 2013

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Full Circle Capital Corporation (Nasdaq: FULL) announced its financial results for the fourth quarter and full year of fiscal 2012 ended June 30, 2012.

For the quarter ended June 30, 2012, FULL recorded net investment income of $1.1 million, or $0.17 per share, and a net decrease in net assets resulting from operations of $(0.7) million, or $(0.11) per share, resulting from net realized losses of $(0.3) million, or $(0.05) per share, and unrealized losses of $(1.5) million, or $(0.23) per share. Net asset value was $8.59 per share at June 30, 2012.

For the fiscal year ended June 30, 2012 the Company recorded net investment income of $4.8 million, or $0.78 per share, and a net increase in net assets resulting from operations of $2.7 million, or $0.43 per share. Distributions paid to record holders during fiscal 2012 totaled $0.918 per share.

FULL – Financial Highlights for the Fourth Quarter of Fiscal 2012

  • FULL Net asset value was $8.59 per share at June 30, 2012.
  • Weighted average portfolio interest rate was 12.93% at June 30, 2012 compared to 12.98% at March 31, 2012.
  • Total investment income was $2.5 million, including fee income from structuring fees and other sources of $0.1 million.
  • Net investment income was $1.1 million, or $0.17 per share.
  • Net decrease in net assets from operations was $(0.7) million, or $(0.11) per share, resulting from net realized losses of $(0.3) million, or $(0.05) per share, and unrealized losses of $(1.5) million, or $(0.23) per share.
  • Total portfolio investments at June 30, 2012 were $72.3 million (excluding U.S. treasury bills of $22.5 million), compared to $66.1 million (excluding U.S. treasury bills of $30.0 million) at March 31, 2012.
  • New originations totaled $9.25 million to two companies consisting of new facilities of $4.25 million to Matt Martin Real Estate Management, LLC and $5.0 million to Employment Plus, Inc.
  • At June 30, 2012, excluding U.S. Treasury bills, 93% of investments were first lien senior secured loans.
  • At June 30, 2012, debt outstanding was $21.9 million consisting of $18.5 million drawn under the Company’s $35.0 million senior credit facility and $3.4 million under its senior unsecured notes.
  • Full Circle paid monthly distributions of $0.077 per share on May 15, 2012, June 15, 2012 and July 13, 2012.
  • Per share amounts for the quarter ended June 30, 2012 are based on approximately 6.2 million weighted average shares outstanding.

About Full Circle Capital Corporation – FULL

Full Circle Capital Corporation (FULL) is a closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. FULL lends to and invests in senior secured loans and, to a lesser extent, mezzanine loans and equity securities issued by smaller and lower middle-market companies that operate in a diverse range of industries. Full Circle’s investment objective is to generate both current income and capital appreciation through debt and equity investments.

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edliston
Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.

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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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