Company Information

Learn More About XBRL  

Address: 535 MADISON AVENUE  
City: NEW YORK 
State: NY 
Zip Code: 10022 
Telephone: 212 750-3343 


Description of Business


Primary SIC Code:
(As filed with the SEC)  

We are a specialty finance company that invests primarily in leveraged loans and mezzanine debt issued by private U.S. middle-market companies, which we define as companies having annual EBITDA (earnings before interest, taxes, depreciation and amortization) of $5 million and $50 million, both through direct lending and through participation in loan syndicates. Our investment objective is to generate current income and, to a lesser extent, capital appreciation from our investments. We are externally managed and advised by Saratoga Investment Advisors, LLC, a New York-based investment firm affiliated with Saratoga Partners, a middle market private equity investment firm. Our portfolio is comprised primarily of investments in leveraged loans (both first and second lien term loans) issued by middle market companies. Leveraged loans are generally senior debt instruments that rank ahead of subordinated debt of the portfolio company.  ... More ...  

Per Share Overview

Date 12-mos Rolling EPS Dividend P/E Ratio
05/20141.31NA11.56
02/20141.78NA8.90
11/20132.352.6506.66
08/20132.26NA8.10
05/20133.53NA5.10
02/20133.55NA4.79
11/20123.024.2505.20
08/20124.73NA3.49

Key Financial Ratios and Statistics

FYE: 02/28

Profitability 2014 Leverage 2014
Net Inc/Comm Equity0.05Total Liab/Total Assets0.48
Net Inc/Total Assets0.04Total Liab/Inv Cap0.48
Net Inc/Inv Cap0.04Total Liab/Comm Equity0.56
Pretax Inc/Net Sales0.52Interest Coverage Ratio2.44
Net Inc/Net Sales0.52Curr Debt/EquityNA
Cash Flow/Net Sales-1.76LTD/Equity0.86
SG&A/NetSales0.43Total Debt/Equity0.86
Asset Utilization   Liquidity  
Net Receivables Turnover4.40Quick RatioNA
Inventory TurnoverNACurrent RatioNA
Inventory Day SalesNANet Rec/Curr AssetsNA
Net Sales/Work CapNAInv/Curr AssetsNA
Net Sales/PP&ENA  

Income Statement (Millions)

  5/31/2014 2/28/2014 11/30/2013 8/31/2013
Total Revenues(Net Sales) 4.36 3.95 4.19 3.78
Cost of Goods Sold NA NA NA NA
Selling & Admin Exps 2.21 2.38 1.17 1.39
Operating Income 2.06 1.48 2.90 2.27
Interest Exp 1.79 1.74 1.61 1.60
Pretax Income 1.76 3.72 1.27 -0.04
Other Income -0.30 2.24 -1.63 -2.31
Net Income Bef Extraordinary ... NA NA NA NA
Net Income 1.76 3.72 1.27 -0.04

Balance Sheet (Millions)

Assets 5/31/2014 2/28/2014 11/30/2013 8/31/2013
Cash & Short Term Investments 12.70 6.59 4.96 28.15
Receivables - Total 3.67 2.72 2.92 3.76
Inventories - Total NA NA NA NA
Total Current Assets NA NA NA NA
Net Property, Plant & Equipment NA NA NA NA
Total Assets 239.23 219.18 210.77 224.06
Liabilities        
Accounts Payable 5.55 5.95 7.26 7.04
Debt in Current Liabilities NA NA NA NA
Total Current Liabilities NA NA NA NA
Long-Term Debt 117.00 98.30 92.30 88.30
Total Liabilities 122.55 104.25 99.56 111.61
Stockholder's Equity        
Minority Interest NA NA NA NA
Preferred Stock NA NA NA NA
Common Stock 0.01 0.01 0.01 0.00
Retained Earnings -27.57 -29.63 -29.42 -19.78
Treasury Stock NA NA NA NA
Total Stockholders' Equity 116.68 114.92 111.21 112.45
Total Liabilities and Stockholders' Equity 239.23 219.18 210.77 224.06

Cash Flow Summary (Millions)

Categories 5/31/2014 2/28/2014 11/30/2013 8/31/2013
Net Cash Provided by Operating Activities -18.65 -3.32 -12.20 -20.00
Net Cash Provided by Investing Activities NA NA NA NA
Net Cash Provided by Financing Activities 18.33 3.25 4.00 0.00

Annual Summary Data (Millions)

Year Sales Net Income EPS
02/201011.52-10.46--
02/201111.5616.966.96
02/201212.2113.283.87
02/201314.4714.603.55
02/201416.818.741.78
Growth Rates9.90----

Stock Ownership

Type Date(Q,M) No. Owners Shares Held (000s) % Own
Institutional06/30/14161,16621.69




Report Date : 8/11/2014

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